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All Forum Posts by: Ros Castro

Ros Castro has started 1 posts and replied 4 times.

Post: Continue to Rent or get started in REI with FHA loan???

Ros CastroPosted
  • Contractor
  • St Petersburg
  • Posts 4
  • Votes 0

Yeah sure thing. Feel free to ask anything! 

Post: Continue to Rent or get started in REI with FHA loan???

Ros CastroPosted
  • Contractor
  • St Petersburg
  • Posts 4
  • Votes 0

@Ryan Mino Yup, I am in the same situation as you. It is very difficult to find duplexes in the St.Petersburg/Pinellas County area in a decent location. My lease is also about to end, so it was either rent for another year, or purchase a property and rent out the other rooms.

I decided to go with the second option. I am currently in the process of closing on a 3/2 SFH house in Pinellas Park that is below market price on a 3% down payment, and just requires a few minor fixes. I plan to rent out the other rooms, which after doing some property analysis, the majority of my monthly payments will be paid off by my renters. I will essentially be living in the house for only $200/mo which is a lot better than my current expense of $800/mo renting a house with other roommates. I plan on fully renting out the house after finding my next property to invest in.

So if you don't mind living with roommates for a year, I personally think purchasing a property and renting out the other rooms would be your best bet if you will be saving money over time. Like they say, money saved is income earned. 

Post: New to Real Estate Investing - Tampa/St Petersburg Market

Ros CastroPosted
  • Contractor
  • St Petersburg
  • Posts 4
  • Votes 0

@Anthony Kelly Thank you for the advice Anthony! I have begun to set some goals for myself, because without them I would not have a proper plan to begin executing them. I am currently reading the BiggerPockets book ' The Book on Rental Property Investing' and have taken notes to help guide me in buying my first rental. I've even recreated the property calculators on Excel to help analyze deals currently on the market. These are just some first steps I've taken.

If I have any questions that come up, I will certainly be happy to ask you.

Post: New to Real Estate Investing - Tampa/St Petersburg Market

Ros CastroPosted
  • Contractor
  • St Petersburg
  • Posts 4
  • Votes 0

Hello everyone, I am a 23 year old Project Engineer for a national electrical contractor. Currently residing in St. Petersburg, I would like to get started in buy and hold real estate investing in SFH and MFH while I work full time in my current job (although that may change in the future).

As of now, I am currently just studying the process of rental property investing through books, podcasts, videos and blogs to gain knowledge and learn from other people so I can prepare myself for when I begin my journey in the following year. I would love to get started earlier, however, I lack the finances to do so at the moment and so I am saving up for that first downpayment.

I would love to get to know and connect with people in the Tampa Bay area, both new and seasoned investors, who don't mind sharing their experiences with investing and getting started on this path. To people looking to connect, I would gladly offer my assistance, if needed, to help you become efficient in your investment process and to gain some knowledge & experience.