All Forum Posts by: Jamin Solomon

@Wes Dial Hey man welcome to BP and to the Fort Walton Area. There’s a lot of good areas around here to invest in with a strong long and short term rental market with all the military and tourism. And properties can still be found at reasonable prices with positive cash flow. 

Wholesaling is still very much alive in the area. Sellers still need an option when they are unable or unwilling to make the property MLS worthy. Reach out to @Tyler Austin for some good wholesale info for the area. 

If you need anything or ever wanna meet up, feel free to reach out. I’m still pretty new with only 2 rentals under my belt, but I’ll help where I can. Best of luck!!

@Cody Brock Menefee Hey man, welcome to BP! My wife and I buy and hold SFRs in northwest FL. Feel free to reach out if you need something. There are always tons of people on here willing to hand out great advice for any topic you can think of. Best of luck!

-Jamin Solomon

@Rico S.

Hey man. So I think the biggest part that you need to consider is that if you are planning to live in one of the units that will reduce your income on the property drastically. Depending on the unit you live in, anywhere from 5-10k a year less than you’re projecting. So re-run the numbers with that in mind because it makes a huge difference.  Best of luck!

@Account Closed That's crazy, dude!! But that doesn't mean its impossible. Please be realistic on your journey, but chase after it if its what you really want to do, man. You're super young and have time on your hands to make mistakes and correct them. Jeff Bezos has changed the world through Amazon and everyone thought he was crazy. His theory of regret avoidance was key to that so push for your dreams because you don't wanna look back and regret it when its too late. Best of luck on this long journey of permits and approvals lol.

@Anton Ivanov Great stuff, man! Very inspiring to see where the story started to where you are now. I like the idea of the full review and breaking down all the numbers to see which units are least performing in order to get into something better. Best of luck in the future!

@Elena C. Welcome to Fort Walton. Definitely a lot going on in the summer with Destin and other touristy spots in the area. As far as neighborhoods in Ft Walton, its kind of all over the place. There are many areas where on one side of the road you have a beautiful row of properties and on the other side there's junky mobile homes or really run down houses. Not necessarily a bad thing, especially for an investor who can get the ugly ones and rehab them, but it takes some getting used to. Rents are usually pretty decent for quality properties though so even up to a mid 100k's property should still cash flow. Possibly also look towards the Navarre area.

@Justin Dossey We really enjoy the area, too! I had honestly never even heard of Destin until we moved here for the Air Force, but it's a beautiful place. 

Lots of vacation properties down here, for sure. Navarre, which is in between Ft Walton and Pensacola, has some really nice vacation rental areas where I always see construction or renovation of properties  taking place. I see properties for sale on Craigslist and they always boast of strong rental income, of course ;). But I'm sure with strong management and scheduling they are definitely worthwhile. 

Youll have to let me know the next time you're in the area and we can get together. Hopefully with some deals under my belt by then lol. 

Thanks for the welcomes!

@Zach Westerfield you're right about small multi families in this area being less prevalent. I've been finding that too in my searches. What type of REI are you focused on in Destin?

Thanks @Bryan Pham. I appreciate the welcome. There's so much good stuff I've found on this site and a ton of experienced investors to learn from. Looking forward to my journey!

Hey BP, my name is Jamin Solomon and I'm a new aspiring investor in the Fort Walton Beach, FL area. I have been digging through the site for a couple months and learning as much as I can through the podcasts, blogs and different books. REI and business has interested me throughout the past few years but I am now taking the actual steps to transform my future to fit these desires.

I am active duty Air Force and looking to transition into REI so that I can leave the service when my current enlistment is up. I'm originally from Tucson, AZ and plan to move back at some point but still have a foothold here in FL as I feel its an area with great potential. I am most interested in buy and hold properties and am looking to make my first purchase by the end of January 2018. I am looking for 2-4 unit multi-family properties and plan to transition into larger properties as well as other business ventures in the future.

Hope to meet some of you through the site and hopefully some locals to pursue deals with. I plan on attending a local meetup here in a few days in Shalimar. I was unable to make it to the last one, unfortunately.

Thanks!

Jamin Solomon