All Forum Posts by: Anthony Perugini

I have stumbled upon a nice acre of land here in Wesley Chapel.  That is exactly my thought purchase the land and build a 4-plex and then add another 4-plex.  I just have to make sure utilities and city water/sewer are available on that parcel I am not doing the well and septic tank routine.

Good Luck Mark.  I am in Wesley Chapel.  I have yet to undertake a renovation project but have a few rental properties I have purchased the last few years and am looking to always expand my portfolio.  Please post updates of your progress I will follow because then I can build up the courage to embark on such a project.

Looking to buy a 3rd Investment Property and looking to find a lender who will write a mortgage with 10% down.  Property is located in Lexington, Kentucky.

Looking at this great 4 Plex will need roughly 20 - 30K in construction costs.  For Sale for 70K for all 4 Units.  Units are all 2/1 and called local Federal Housing office and the voucher for those units are 750/month.  3K in rent.  Unknown what Insurance and Taxes will be.  I know you can't go buy Zillow but the Zestimate is 195K. 

Looking to find a way to get a 90K mortgage to cover sale and construction costs.

Thanks.

welcome to BP

@Stephen Michle

I leave them in the hands of my property management company. I eat the 10% fee but it gives me piece of mind.

Welcome Karina. I just joined myself and started my REI adventure recently. There is a wealth of knowledge on here and the people are great also. I am sure one suggestion you hear is use as little of your own money as possible. I have bought two rental properties one off the private market and one via homepath. I get 30 yr loans and put as little down as possible. I am not venturing to acquiring my first flipping property. I also am in the Tampa area (Wesley Chapel). Good luck with your new addition to the family and your future goals.

I am new to REI but I own my primary home where I am raising my children in a suburb of Tampa. I have purchased 2 Rental Properties over the past 2 years neither located in Florida. My first one is in Bluffton, SC and my other is in Greenville, NC. I am currently looking at the Houston, San Antonio, and Atlanta markets for my 3rd property.

My reasoning is the Eggs in One Basket philosophy. With the market crash in Florida imagine holding all your rental properties in Florida your equity can be wiped out instantaneously. It is highly unlikely that all the markets I am in if I am diversified all across the country will suffer the same kind of equity loss if another market crash occurs.

I will endure a property management fee to have my properties looked after to keep portfolio diversified.

I am sure there are pros and cons to this method and I would love to hear them.

Just my .02 cents.

Thank You all for the Welcome. I have no doubts that the wealth of information from the members of this website will help me move along on my REI goals.

Hi there I am Anthony and am a full time IT Professional and part-time REI looking to grow in that area and hopefully make it a full time profession. My wife and I began investing in Real Estate in 2011 as a retirement vehicle to supplement our 401K's, SS, and her pension (honestly we are not relying on SS). Our goal is to acquire 10 properties in 10 years. We have acquired 2 currently which are both rented out and generating income. One has now doubled in value and the 2nd has appreciated significantly. (1 was a off market property and the other was a homepath property).

My next goal is to acquire our 3rd property with little out of pocket costs and use the equity we have in one of our current properties for the down payment. The previous 2 properties I have always saved up the cash to bring to the table to puchase the property. Now I want to learn how to make my current properties work for me to acquire more properties.

This site has plenty of information and knowledge for which I am grateful for but there are people who have been doing this far longer than me on this board and any help or wisdom would be greatly appreciated.

Thanks,

Anthony