All Forum Posts by: Rachel Degani

Hi all! I have an opportunity to jump into a turn key triplex in a nice part of town in a high appreciation market (St Pete FL!). This property should cashflow anywhere from $200-800 (net) depending on what I can rent it for/how accurate the comps I've found are. The catch is, it would cost us ALL of our savings... (but we would still have about 10k in our biz account). Is this too risky? We are very good at saving so can prob build it back up fast. My aunt (who is not a successful real estate investor, but has some experience with flipping) says I shouldn't jump into a triplex because I'm too new. She says I should start with a duplex and work my way up. There is also a nice duplex which wouldn't be ALL of my savings that I have my eye on but it would not cashflow as much. I kind of feel like it's more risky for that reason. I am a brand new investor with one other property which I have been STRing for 2 years. I feel ready to jump in to my next deal and love the thought of a triplex, but I know there are risks involved; especially since I don't know what I don't know. Would love to hear from some more seasoned investors. Thanks so much for your thoughts!

Hi all! I am a brand new investor in the St Pete area looking to connect with others. I have 1 STR (technically 2 on one property) and am looking to purchase my second property. I am considering using a different strategy but will STR again if I can't financially figure out how to make other strategies work. Would love to connect and talk real estate. I listen to the bigger pockets podcasts like crazy and would love to nerd out with others.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $325,000
Cash invested: $35,000

We STR a 2/1 with a detached garage on (what we consider to be) a large lot in unincorporated st pete. We split the backyard with a fence and put an RV on the property which we also rent out as a STR. We have ambitions to eventually turn the detached garage into a 1/1.

What made you interested in investing in this type of deal?

Wanted to get started in real estate and I had a friend who did well with STRs so I chose that route.

How did you find this deal and how did you negotiate it?

MLS. I got advice from my relator how to get the house and win the bidding wars going on at the time.

How did you finance this deal?

Traditional

How did you add value to the deal?

Furnishing it with a theme

What was the outcome?

It cashflows, but not as much as we thought it would. Overall grateful to be learning the game without losing money.

Lessons learned? Challenges?

Learned that STRs can be expensive! But the amount we are learning on what it takes to own, fix, upkeep, and serve travelers is well worth it. May chose a diff strategy for our next investment.