All Forum Posts by: Andrew Hill

I would target a home with an already built in-ground pool, but maybe needs some cleaning and TLC in the backyard. You can add the nice looking deck and aesthetics over the year to prep it for an airbnb when you are ready to move out.

Sounds like you are prepared and will be ready when the time comes! My only question would be are you open to implementing the BRRR method with this duplex or are you looking for something move-in ready? You could try to find something that needs some either minor or major fixing up, and adjust your budget lower to account for 50-100k in renovations, or start searching for a lender that can help you with the construction costs, and then pay it off once the renovations are complete with a refi.

Hey Cody, I would not continue to expect the homes to appreciate as they have in the past, so I would definitely look in to trying to find something off-market, or by offering lower than listed on stale properties that have opportunity for some value add. It is important of course to make sure that the numbers work for your goals as well. 

I would also give this podcast a listen to give you some ideas from somebody who was in your shoes 10 years ago.

Financial Freedom in 10 Years and $200K Cash Flow (biggerpockets.com)

Welcome Craig! I source off-market fixer-uppers in the Hillsborough, Pinellas, and sometimes Citrus counties if that would be of any interest to you.

Another avenue you could go down is becoming a property manager. They supply the property, you help them find and manage the tenants. This would be no money down, and while it may be hard to gather your first couple clients, you will start to build your network with handymen and investors.

Try to avoid "Youtube Ads" as those are exactly what they say they are, advertisements for their product. Of which they are hoping to gain from you. If whatever they are selling worked as great as they claim, everyone would do it. 

 Yes, this is so if I decide to sell the house for an unforeseen reason I will not be taxed with capital gains on the profit of the house. If you follow the 2-out-of-five-year rule, you should be able to avoid this. It also gives me some more time to save up some money and get to know the Tampa market better!

I just hit a year of living at my first home in Westchase. It is a 2 bed, 2 bath, 1 office could turn bed, 1 garage space condo. I am 25 and my personal plan was to purchase a new property every 2 years and rent out the previous in hopes of having a small amount of cash flow to pay off the difference in mortgage of my next home. I could rent out my current place for roughly $400/month cashflow and I can put that straight into my next house mortgage, moving from roughly a 300k house to a 400k. I could keep compounding this to live in a 500 to 600 etc..

My first house was move in ready and I did really enjoy that convenience but am not afraid to get my hands dirty.

I am a big fan of Westchase and would find it tough to leave the neighborhood based on school zone, type of neighbors/homes, and still located within 30 min of DT Tampa and DTSP.

I wouldn’t say I am a real estate investor yet, but I am very money conscious. Are there better investment moves I should look into in the Tampa Bay Area? My plan was to buy and hold early and often (at 5-10% down each time). Are there other areas within Tampa/St Pete that I can expect similar neighborhood qualities and appreciation in my home that I could be looking?

I know there are townhomes just down the road in my price range, so I guess I am looking for flaws in my plan. Fire away, but also take it easy on my first post!