All Forum Posts by: Francesco Barbati

Hello BiggerPockets crowd! 

I have decided (but always ready to change my plan) to buy and hold to rent to students, and focus around the university in the city I live in.

What are the criteria to choose the best property? How it differs from other kind of renting? What should I add/change to the equation to make a profitable deal?

I am new and any kind of advice or consideration (even if very basics ones) would be very appreciated!

Welcome to BP!

Welcome to BP from another newbie! This is the place for use, so grateful I found it. And their podcasts are awesome!

Thank you! Looking forward as well!

 Thank you so much Jon!

I am also interested and I am located in west Boca Raton. 

I am in the same spot, paying a very cheap rent for my area (1k instead of 1.4k or more) and I was considering keep paying my rent and lease out the property I am going to buy, or instead sublease the property I currently live in and move to the one I will buy.

Would be only matters of number and math, or there are variable to consider?

What make more sense financially (tax wise, management, etc..)?

 I have the same question to ask, and I would add: would it be really worth it considering the it might ruin the credit score?

First of all, thank to everybody the warm welcome! Wasn't expecting so many replies in few hours. BiggerPockets keep surprising me!

Second thanks for the advice! I am going to google REIA right now, I have no idea if I have any around my area (so much to discover and learn).

Last, but not the least my plan (first 2 steps for now): 

Step 1 - Studying e learning as much as I can (online, Youtube, BiggerPockets, Audible, etc..). I work full-time as a photoshop retoucher for a company that high-end real estate photography. I spend 8 hours a day editing photos of insanely expensive houses, and it allows me to listen books on Audible and podcasts for most of the time in the office. Once I get back home I give my wife a break from our daughter and once I put her to sleep, back on my iMac researching and studying (usually until 1am). Also my wife and I talk and plan (we are creating a little business for her on the go) to keep us update about what we learnt or discover during the day. And we also try to record 1 or 2 videos for her vlog. Sometimes I find sometime to study also in the morning before leaving to go to the office.

Step 2 - I "want" to acquire the first investment property not later then March. By then I "should" be ready (I know there is not such a thing, but I need deadlines to push me). I still have to decide which one is going to be my nice, but for now I like the idea to rent to college students and keep me around Universities and Hospitals (pretty stable institutions in my opinion, any advice is welcome).

We also have other investment project and business ideas not related to real estate, and we are looking in the long run. Yes, having kids change your life perspective dramatically.

I have mixed feelings about taking the real estate license. How long does it take and how much does it cost here in Florida? I found a course on youtube, so getting ready just in case I decide to make this move.

Hello Everybody!

My name is Francesco. I moved to South Florida 2 years ago from Rome (born and raised). I am a photographer and full-time photoshop retoucher. The reason why I am in Florida is the same reason why I am on BiggerPockets. My daughter. She will be 1 year old in 3 weeks. As a fairly new parent I was thinking, how is my wife going to support her and my daughter is something happen to me. And what about my daugther if something happends to both her parents. 

I read a lot and a month ago I steppend into "Rich Dad Poor Dad" book. Was inspiring and eye opening. It revolutionized my way of thinking about money and income and the snowball effect has taken place right after! I need to create passive income and wealth for my family

I recently discover this website browsing YouTube looking for "real estate investment tutorials and advices", and I have to say WOW! I love the podcast, I am catching up with the 200 episodes (congrats btw) and the quick advice also, listening to 2 to 3 each day, while keeping my cashflow working a 9-5 job. Saving up to invest when financially and mentally ready, but the more I dig into the real estate world and the more I get overwhelmed! I like challenges and it is exciting!

Every day I tell myself: "Ok, tomorrow I'll buy the first house!"

Fortunately I have a plan and self control, helping me to stick to it!

It is hard to start with not much money, but I won't give up! Me and my wife are literally eating only rice, beans, frozen fruit from Costco, apples and bananas and saving every single penny we can to be ready.

I am very motivated and I hope to meet real people do want I want to achieve and I can help them out while learning. I live in Boca Raton (1 hour north of Miami) and happy to connect with anyone.

Wish the best to everybody! :D