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All Forum Posts by: Tara Martinelli

Tara Martinelli has started 1 posts and replied 3 times.

Post: New Member from Tampa/St Petersburg Florida

Tara MartinelliPosted
  • Saint Petersburg, FL
  • Posts 3
  • Votes 0

Is that the appraised value before or after the rehab?  Otherwise, unless I get a really good deal, the loan is only for 70% of the value of the home.     

Post: Investing in Detroit,from a Detroit investor.

Tara MartinelliPosted
  • Saint Petersburg, FL
  • Posts 3
  • Votes 0

I'm from Detroit but I live in Tampa FL now.  I hear business are buying up property in Detroit for very cheap and sitting on it till the market improves in Detroit.  You might end up in a very good position if they expand the rebuilding of the city.  Still slow growing right now but with the right people and investors it can come back.  

Post: New Member from Tampa/St Petersburg Florida

Tara MartinelliPosted
  • Saint Petersburg, FL
  • Posts 3
  • Votes 0

I am retiring from the Air Force in the next seven months and absolutely love real estate. I am working on my real estate license right now.  I should be done in the next month or two.  I am interested in flipping homes and obtaining some rental property.  It just depends on the deal on how the numbers work out. 

I have a rental property in Phoenix AZ that I obtained because I had to move to Germany.  It was my primary residence, I lived in it for a few years and then turned it into a rental.  As the years have gone by, I have realized what a great property rental it is and the income that I get from this property will help me retire.  

In addition, I have recently flipped a house here in St. Petersburg Florida.  Brought a foreclosed property from the bank and renovated 70% of the house.  For a first time flipper, I made decent money, learned a lot about flipping and had a great time renovating it.   

Now that I am retiring from the military, I would really like to do this full time.  The plan is to find a few houses to flip in order to build up some capital.  Once I have some more capital, I would like to look at a multiplex rental.  Although, I'm not apposed to finding a rental property earlier in the game if the math works out right.

My challenge is that I have the capital for the renovation but I don't have the money to buy the house.  I would prefer to find an investor, then finance the house through the bank.  Since I am new to the real estate market, I don't know a lot of investors.  So, time to start networking!!  

I'm happy to hear form anyone that can give me some advice and tips on how to move forward.  I will be looking for a investment property around September 2017.  Until then, I will be learning as much as I can about investing in real estate.

Thank you in advanced for all the support,

Tara