All Forum Posts by: Jossalyn Wallace

HI! Congrats on taking the leap! I personally would start with your local market. I think there are some good opportunities throughout TX. If you really wanted to consider out of state I would look at the FL Panhandle (Navarre, Gulf Breeze, Panama City Beach, etc). in addition to those markets others mentioned. We have a few military bases in the area and a strong short term rental market, so you can really choose whatever approach you want and be successful. Feel free to DM if you have any questions or want to connect! Best of luck! 

Can you send me details on this?

Investors are always buying if the deal is good enough! 

I am in the Florida Panhandle and have been very fortunate here. We have done the same with our investors and do flip homes ourselves. Feel free to connect or ask any questions! 

I did not. 

Hey Steve! Welcome! I am based in Destin and I am with eXp Realty. Coming from another brokerage here, I've found them to be much more investor friendly. A nice perk is we get 3 personal deals a year without having to pay the firm commission. Low fee of $85 a month and that give you access to anything you would need such as CRM, e-sign (Skyslope) etc. No one really bothers you, you can sell as much or as little as you want. Happy to go over in more depth if you're interested but its been a great firm for me from a realtor and investor standpoint. Would love to connect next time you're in town! Feel free to direct message me if I can answer any questions or if you want to hop on a call to discuss. 

Hi Jake!

I live in the FL Panhandle so I am definitely partial but we have awesome rental markets here. I would consider Panama City, Laurel Hill (areas around Tyndall Air Force Base), Navarre, Mary Esther, Fort Walton, Crestview, and Niceville (areas around Eglin and Hurlburt Bases). We also have very strong MTR/STR in areas like Destin, Panama City Beach, Miramar Beach, 30A. There are a bunch of medical offices around in addition to the military and the tourism so you really can't go wrong. Our appreciation has been pretty outstanding because of the growth that is happening.

I can't speak personally to any other locations in Florida but have heard good things about Jacksonville/Tampa areas. Happy house shopping and let me know if I can help with anything! 

Hi Marvin! Sounds like you have a pretty good plan in place. I am not sure about NY state but here in FL it is very simple to get your LLC set up. You can do everything online within a few minutes I would say, so I would definitely look into that a bit further.

As far as using the LLC to purchase your first home, its going to depend on your loan type. Typically if you're going to be living in it the best loan programs are going to be a first time home buyer program (some credit unions, states, or counties offer these), or an FHA loan which is only 3.5% down but you have to have it in your personal name and reside at the residence.

Side note- When looking to hang your real estate license under a firm make sure they are investor friendly. My firm for example, gives us three personal transactions a year where we don't have to pay them a split.

Best of luck! Feel free to reach out if I can help with anything. 

We have a wonderful rental market here in the FL Panhandle (and only a drive away from TN which is a nice perk). 

Our STR market remains strong as Destin, 30A, Panama City Beach etc are continually named up and coming or top vacation destinations in the US by major publications and our market data and influx of new residents/home owners definitely reflect that.

We also have a very strong MTR/LTR market because we are surrounded by medical and military which keeps things consistent. 

Reach out if you have any questions or if I can do anything at all. I have no doubt you will crush it wherever you land. Best of luck! 

We have very strong rental markets here in the FL Panhandle area. There are homes that meet at a minimum the 1% rule and cash flow nicely, in particular areas like Destin, Miramar Beach, Panama City Beach, and Navarre. Generally you can get a bit more bang for your buck in PCB or Navarre VS the popular areas like Destin or 30A. Most homes are sold furnished here which is a nice plus to have something more "turn key" (that is if their furnishings are nice lol) that you can start renting out right away plus save you the expense of having to furnish. 

The main advice I would have for you is to make sure you have a good team in place throughout the process and for after since it sounds like you will be doing long distance. I.E., A realtor who knows the market well, can provide maybe some off market opportunities, and that can run an analysis on the properties for you, a good rental management company who you trust or if you're going to self manage a cleaning company, handyman, etc. 

Also if you end up leaning towards this area and are going to need lending I would suggest using a local lender for sure. Because we are on the coast the lending can be a bit different so it's best to have someone who lends in this area regularly to avoid any hiccups throughout the loan process. 

This area has been great to me from an investment stand point and I have many clients who are very successful with their rentals but I am sure you will do great wherever you land! Congratulations on your first two and its only up from here! Don't hesitate to reach out if you ever need anything!