All Forum Posts by: Amber Stout

@Adam Bartomeo Great insights into the market. I have a couple agents I work with in your area and they're seeing their listings sit longer than expected along with longer rental vacancies. We're seeing a correction in the Tampa market as well. Thank you for sharing these reports! 

Hi Jodie! Congrats on starting to invest in your own real estate portfolio. I started out in real estate the exact same way! We used an FHA owner-occupied loan, put down 3.5%, lived in one unit, and fixed up the other. We never took out the equity from the property; however, if I were to do it again, I would likely have done a cash-out refinance or a HELOC so you can pull out the equity and roll it into the next deal. It'll start to snowball from there, which is exciting. If you want to connect further, I'd love to talk about investing. I am also a lender and happy to help if you need an investor-friendly lender.

I am an investor and lender in the Florida market. It's definitely challenging to get a deal to pencil right now. However, there are two strategies that seem to be working. The first is short-term rental properties. The right property in the right location with the right property manager seems to still be doing well. If you're open to short-term rentals, that could be one option.

If you're looking more at long-term renters, you (or your realtor) can negotiate seller credits into the offer and use those credits to buy down your rate. I have used this strategy with nearly every investor this year and it has been allowing my investor clients to cash flow on deals. If you have further questions about either option, send me a DM.

If you decide to move forward with the HELOC on the investment property, please note that it can be challenging to get a HELOC on an investment property. Being an investor and lender myself, I have networked with many local banks and found one bank that is able to do investment HELOCs. Shoot me a DM if you decide to do the investment HELOC route.

Congrats! I am an investor turned into a lender. I'd love to connect. I just sent you a PM. 

@John Mason Hi John, I live and work with realtors that serve that area. Those areas typically require 30 day minimum and some areas you can rent out 3x maximum/yr. There are pockets of areas in Pinellas county that will allow you to rent out daily and more than 3x a year.  If you'd like a intro to one of the realtors I work with, shoot me a DM and I can connect you. 

Hi Dave, that's exciting. I am located in Pinellas and own properties in the area. It's a great market! After going through the process of purchasing, I would personally work with an agent that has experience/results in what you're looking to do. That way they'll be able to look through their own investment lens to make sure you're buying a decent a deal. I typically work with investors and have a couple agents I work with in which I can share their contact information with you if you have interest. 

Hi Diana,

I understand how being remote could be challenging based on your experience. However, with the right team, the process of purchasing remotely can be much smoother. For example, my husband is a realtor and works with many out-of-state investors. If a property isn’t a good deal or has issues, he either won’t share it or will advise our clients and friends to pass on it.

We also have our own investment deals and have built a reliable network of great contacts, which is another benefit to working with someone who has done their own deals. 

In summary, finding a buyer's agent, lawyer, and inspector who have proven success with investments and a dependable network will make things much easier for you remotely. You can find the right team by visiting, setting up calls, or asking for referrals. If there's anything I can do personally, shoot me a PM. 

 Hi Matt! I agree, Tampa is expensive. You will be able to use your current property to offset the mortgage on that property and then depending on how many units your new property has, you can use all or a portion of the current or projected income to help you qualify. Happy to help if you have any further questions on that. 

As many others have mentioned, you can go the DSCR route in which qualifying for the property is mainly based on the asset itself and less on the individual. The rate is typically higher and you need more money down (20%+) SO if you're able to qualify not using a DSCR, I would recommend that so you can put less down and get a lower rate.

@Adam Zamorek Hi Adam, my husband and I started investing in real estate doing exactly what you're looking to do. We started out with a duplex, living in 1 unit and renting out the other, then purchased a triplex, then duplex, etc. It's hands down the best decision we've ever made and our rentals allowed my husband quit his W2 to help investors find great deals in real estate as an agent, and then I left my W2 to pursue helping investors get great financing as a mortgage broker. I share all of that to say, it's a great strategy and will allow you to build wealth/cash flow while only putting down 5%. 

Regarding meeting others in this space, there are lots of great meetups in the Tampa area. If you have any interest in connecting with others and broadening your knowledge about investing, I highly recommend and would be happy to share a solid list.