All Forum Posts by: Kevin Wiley

Ed, 

The Flip is going well so far. I've known my contractor for 7 years as a friend before hiring him professionally. He's been beating my expectations so far. It's was a big job but I think we can market the home in about 5 weeks. 

20k is plenty to get started with my man :) I started with nothing and am using a partner for funding. I'll have about 35k myself after this flip. With 20k you can pour 20%down on a100k property or use it as our even use of as a 3.5% down for an FHA loan of up to a 570k multi-family as long as you live in it for at least a year.

You could use some of your 20k for marketing and get into wholesaling or find your own deals. Possibilities are endless :) 

Hey Ed great question. I'm in a similar. Situation, but just a small step further down the road. I'm 25, work full time, and I'm currently in the middle of my first flip. 

The best advice is the same as you hear on the podcast: go to a local REIA meeting and start getting to know people in your network.

Always continue listening to the BiggerPockets podcast and furthering your self-education to help avoid expensive mistakes. 

Do you have any money to use for investing? 

Yeah that's generally a good idea. I'm going to make my intentions known at my REIA group too.

Thanks Troy

Hey all, 

My wife and I have a dream of house hacking to really get our financial freedom kick started. In my area of Tampa Bay, I notice a large number of SFHs and apartment complexes, but not many small Multi-plexes. 

Does. Anyone know of any areas in the Tampa Bay area with more 2-4plexes?

Any advise on finding them? 

Thanks! 

Hey Matt, I live in the Tampa area in Clearwater. This area is great for 2 things in my opinion: apartments and flips. This area isn't so great for SFRs. The majority of people in this area rent from apartments or buy single family homes. 

Actually, I've witnessd no fewer than 3 new large apartment complexes being built. In my area recently. There was also a NEW Walmart built in 2014 with a brand new apartment complex right next to it. Those units go for about 1200-2200 each! 

In closure, I recommend either going with apartments or doing so gle family flips. Remember, lots of families and elderly. People live In the Tampa Bay area!

Ive lived here since I was 5 years old and never moved more than a couple of miles! 

Thanks for the worthless response Andy... 

Wow I'm glad you mentioned that. Didn't take that Boulder was on san Francisco pricing! 

Hey BP family, 

I can't seem to find any good wholesalers in the Tampa /Clearwater/St. Petersburg area. Does anyone know one they can recommend? 

At our REIA meetings they all seem to use a 80 or 90% ARV calculation instead of the 70% that investors need. And they're getting away with it too..

Anyone know of any good wholesalers here? 

Thanks Justin and Bill. I know that DFW is pretty crowded right now and that stinks. My area SHOULD be good for flipping but the whole saler don't seem to be very trust worthy. Sure, that's a problem I could face anywhere, but it's a confirmed problem here in Clearwater. 

My other plan would be to move to Denver. I actually lived in Gunnison, Colorado for a long while in my teen years and love  Colorado. 

I agree Elbert. My problem around my town is that the wholesalers seem to be getting away with using an 80 or 90% rule instead of the 70% recommended on BP. It's been hard to find others