All Forum Posts by: Cole Agner

Hi everybody,

A few months ago, I just purchased my first property (yay me), which I'm working to house-hack at the moment. One thing I wanted to do was to get some advice on opportunities that would add the most value to the home as I'll be looking to refinance after making a few updates.

Since I'm a little unfamiliar with what would give me the most "bang for my buck", I figured it'd be worth it to share my Zillow rental post, give my thoughts to you guys, and see what you all come up with since I'm a day one newbie here...

https://www.zillow.com/homedetails/698-Bridal-Ave-Jacksonville-FL-32205/316819570_zpid/?view=public
It's a 3 bed 2 bath house, almost 100 years old, and the seller made a bunch of updates to the house (fixed roofing, foundation, re-ran electrical wiring, redid flooring, and interior paint) prior to me moving in.

So far, I've added a dishwasher to the place, and here are my thoughts as far as other "value adds" go, but I don't want to invest the money if you guys and gals don't think there's much opportunity for a return on it... I've got about $10k I'm willing to spend, and here's what I've come up with as far as updates go:

- Add shelving for grocery storage - there's very little today

- Rehab the front porch (you can feel the plywood sink in places as you walk over it)

- Repaint the outside of the house (paint is peeling)

- Add a fence for the back yard

- Add a back door (there's only one entrance/exit to the house)
- Pave the driveway on both sides of the tree out front
- Add exterior lights to the side and back of house

- Update kitchen counters (granite?) & new stove

Again, I'm sure some of you are screaming at your computer at this point, but I'm open to criticism and what you think would be the best value adds.

Thank you!

PM me for more details, but this is about as close to reality as I can get from a financial perspective before we make an offer.

Cash on Cash return is at $1514.28/month with a $138,750 down payment. The split would look like this:

Myself- Invest $45k - Monthly income = $514.76 

My Partner - Invest $20k - Monthly income = $211.96 

Potential investor - Invest $73,750 - Monthly income = $787.28

I took 1 point from your investment as well as my partner's and added it to my number since I found the spot and would essentially be managing it. Looking to rent by room (5BR/5B) for traveling nurses in Orlando.

Hi everyone! 

I'm working on a short term rental strategy in the Tampa market to travel nurses as this seems to be a market in very high demand depending on where you're located. I've seen tons of posts from different areas in the country, but I believe this sort of strategy really relies on your location since it's so specific, and I haven't seen anything about Tampa. So with that being said, I have a ton of questions that I've seen mixed answers across the board BECAUSE they're different in every state, let alone in a given city. So with that being said:

• Does Tampa have strict short term rental laws? I know Clearwater does, and you essentially have to be grandfathered in with certain properties
• What are some of the "preferred" vendors you use for leads? And what would a monthly or yearly cost be? I've seen posts on everything from Furnished Finder to TravelNurseHousing.com and have seen lots of mixed reviews... Again, this is all based on geographic location, and I'm curious about Tampa
• I'm well aware the demand is there, but how low/high of rent expectations have you seen in this market for a furnished apartment? I'm primarily looking at 1 bedrooms in a duplex, triplex, or quadplex.

I'm very new to the game, so please excuse my ignorance with any/all of this

@Ryan L. How did your strategy fair out? I'm looking to implement this method in Tampa, but was curious what challenges and opportunities you've been experiencing.

@Edgar Rodriguez, @Michael P., and @Randall Alan

Thanks a ton for the feedback. The answer to your question about saving $200k in that timeframe is yes (not making $200k/year at that point, although that would be nice). One thing I forgot to mention is that the initial down payment I'm looking to put up would be $20k. So my next question for you and others would be, if you were to take this approach with the amount of money I've given myself to start with, how would you "passively manage" and save your way up to $200k in 15 years? 

Any and all suggestions are welcome, but please don't be an asshat and troll my post, because I'm looking for some real advice...

I'm 27, live in Tampa, FL, have a great corporate paying job that earns about $100k/year, and would like to passively earn a total of $200k by year 15 (Year 1 is 2021) in order to put a down payment on a dream home. I did some really quick (and probably bad) math, and estimated that if I found 1 investment vehicle every 2 years and received a positive cash flow of $3600/year on each new investment, then I'd come out where I'd like to be in between years 13 & 14 while owning 7 properties and passively making $25k/year.

My strategy needs A TON of tweaking, but my initial thoughts are to invest in a multifamily house with my buddy who owns 4 properties so I can get my feet wet, learn the basics, and then branch out to other multifamily houses over the next 5 years. Then, I'd start considering small & large apartments around year 10. The idea is to buy and hold all of these.

Now please be honest with me. Is this realistic? One of my biggest things today is that I want these investments to require as little oversight as possible, at least for the forseeable future, so I that can continue building upon my career without letting this hinder my professional goals, which are fairly ambitious. So in hindsight, if any of this looks screwed from the get-go, then I'm all ears to suggestions and providing more information if needed.

Thanks a ton