All Forum Posts by: Nancy Brook

Green. I can take that money and multiply it with other investments.

I have an apartment in St. Pete that I rent out through VRBO. It's been a pretty easy rental as far as attracting guest, except for summer months.

I live in Montana when I'm not in Florida and so I had to set up systems to manage the property. I started with a maid service and now have a handyman and his wife who clean the property and do any required maintenance. I book the properties myself and talk to the guests. 

We also have a property in Montana. The challenge is that it's in a small town near the entrance to Yellowstone Park and we do not have a maid service to take care of things. We end up rented it once in a while when we are around to do the cleaning and laundry. My St. Pete property is much easier.

I'd definitely recommend St. Pete. My house is in a more urban environment and I keep it occupied.

Agree with Frederick on the idea of wholesaling. No risk and great returns if you work it.

Great to have you here! I invest in St. Pete. What are you hoping to do as an investor? Wholesale, flips, buy and holds or a combo?

I was going to mention for people who can move their company 401ks to consider either a self-directed IRA or 401k. I rolled over a company 401k set up my self-directed 401k as a company owner. Advantages: I can buy real estate in it. I pay lower fees than with mutual fund investing through my 401k. I and my company can invest up to $55,500 annually. New investments will be Roth which means all gains and earnings on this chunk of money will be tax free once distributed. In this case, I'd 1) continue to invest the max in the employer plan to receive the match. 2) pay of debt as soon as possible perhaps through earning extra money through wholesaling which is a quick and low risk way to earn money. 3) Once debt is paid, set up a self directed IRA or 401k (if you have a company) and put money in there to build for a real estate investing fund.

Congrats, Adam!

Stephanie, have you thought of doing some wholesaling to build funds? Seems like it would help you to build some capital.

Originally posted by @Domonique Hudson:

I'm looking to expand my wholesale business into the Saint Petersburg, Tampa  etc area....What part of town seems to be the hot areas? I would assume in Sunny Florida even the war zones would be decent buy and hold investments..

 I do investing in St Pete. If you find deals that you want to wholesale would love be to hear about them. 

Hi Ryder - I'm a St. Pete investor and have started wholesaling. What type of property are you seeking?

I'm also not familiar with your market, but what I'm finding in St. Pete is that homes in a low end range typically need extensive renovation. Also, does your relative intend to split the proceeds with you on a flip or is he/she charging you interest? You'll want to calculate those numbers into your costs.

No matter which way you go, you'll want to get some pretty tight quotes put together to make sure you're on budget. That's been my number one learning with investment properties. I budget $5,000 for a reno and it ends up being $8,000, that kind of thing.