All Forum Posts by: Justin Morgan

I am looking at a property that on paper creates substantial cash flow and the price is right. The issue is that the community it is located in does not allow persons under the age of 18 to live in the property which obviously alienates the family tenets that I prefer to rent to. Being that I am in a Florida retirement area should this scare me from the deal?

Ladies and Gentlemen, I am a 9 year Navy veteran and resident of the Tampa area. I am currently in process of building a team to assist me in finding, buying, rehabing, renting and or flipping homes here in my backyard. I am looking to comprise my team of hard working, educated, and driven individuals to make my/ our business take off and I would love to find business veterans in GC, agents, banking, and private investors. I thought BP would be a great place to start this search. Thank all of you in advance.

We are also looking to get involved with little to no cash at first and work our way up slowly to the cash flow to do major projects, but my business plan is to walk before we run and try to mitigate as much risk as we can. I do not know anyone in the real estate space currently, but wanted to spend the rest of this year and some of next to educate myself, build reserves, build my network, and look for the best deal I can find. I will definitely look into local Real Estate Investors Club, I had assumed that Bigger Pockets would be the best thing for me bc I did not want to get involved I'm any cut throat foolishness.

We are looking to stay in our local market and have not discussed the prospect of buying out of sight just yet as I intend to manage the properties myself until it becomes too cumbersome as I have a full time career now.

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My wife and I are discussing buying our first rental property with the aspirations of having 3 or 4 to supplement our current income and hopefully fund college for our children which are still young. Our plan was to buy a home at 50-75k and rehab it with 20-25k and then rent it for 1-1.2k. The Tapma market has many properties with numbers like this so that will not be hard to find. A few things I'm concerned about though. One, if it was that easy to make those numbers work why isn't everyone doing this? Two, what are the best ways to fund such a project? Three, which way is the best to limit the risk of my family's future and tax liability in regards to LLCs or other ways to make the property a business asset? I have many other questions, but I feel like this is a good start. Thank you all in advance for your help.