All Forum Posts by: Todd Holman

Hello Xavier, congratulations on making your 1st $100K. I remember the 1st time I did that in my mid 20's and I was on cloud 9! You're on the right thought process to preserve you $ and build wealth, a duplex is a good start but I may have a better real estate suggestion that could build wealth faster while doing a house hack.  Typically this particular house hack works best if you don't have young children.  

P.S. I grew up in Minneapolis, MN.  I can relate to the cold winter's that will soon be knocking on your door.  I've been in Central Florida since 2003. 
 

In recent years, the Millennial generation has emerged as a dominant force in the housing market, exerting a significant influence on trends, preferences, and the overall trajectory of the real estate industry. As the largest generation in U.S. history, Millennials, born between 1981 and 1996, are not only driving demand but also reshaping the way homes are bought, sold, and lived in. Let's explore the influential role Millennials play in the housing market and how their preferences are shaping the future of housing.

1. Preference for Urban Living: Unlike previous generations that favored suburban or rural lifestyles, many Millennials are drawn to urban areas with vibrant cultural scenes, diverse dining options, and convenient access to amenities. This preference for city living has fueled demand for urban condos, lofts, and apartments, driving revitalization efforts in downtown areas and contributing to the development of mixed-use communities that combine residential, retail, and commercial spaces.
2. Emphasis on Sustainability and Energy Efficiency: Millennials are more environmentally conscious than previous generations, placing a high value on sustainability, energy efficiency, and eco-friendly features when choosing a home. They are more likely to seek out properties with green certifications, solar panels, energy-efficient appliances, and smart home technology that reduces energy consumption and minimizes environmental impact.
3. Preference for Flexible and Multifunctional Spaces: With the rise of remote work and flexible lifestyles, Millennials are redefining the concept of home space. They prioritize properties with versatile layouts and multifunctional spaces that can adapt to their evolving needs, whether it's a home office, workout area, or entertainment space. Open floor plans, movable partitions, and multipurpose furniture are increasingly popular among Millennial homebuyers.
4. Digital Savvy and Tech Integration: Growing up in the digital age, Millennials are tech-savvy consumers who expect seamless integration of technology into their homes. They value properties equipped with smart home features, such as automated lighting, thermostats, security systems, and voice-controlled assistants. Additionally, Millennials rely heavily on online platforms and mobile apps for property search, virtual tours, mortgage applications, and transaction management, reshaping the way real estate transactions are conducted.
5. Delaying Homeownership and Embracing Renting: Despite their strong desire for homeownership, many Millennials face financial challenges, including student loan debt, stagnant wages, and high housing costs. As a result, a growing number of Millennials are delaying homeownership and opting to rent instead. This trend has fueled demand for rental properties, particularly in urban areas and multifamily developments, prompting investors and developers to focus on rental housing options tailored to Millennial preferences.
6. Desire for Community and Shared Amenities: Millennials value experiences over possessions and seek communities that offer social interaction, connectivity, and shared amenities. Co-living spaces, communal workspaces, rooftop gardens, fitness centers, and pet-friendly facilities are increasingly popular among Millennial renters and homeowners seeking a sense of belonging and community engagement.
7. Impact of Demographic Diversity and Inclusion: Millennials are the most diverse generation in U.S. history, with a significant portion identifying as racial or ethnic minorities. This diversity is reflected in their housing preferences and priorities, driving demand for inclusive and culturally diverse communities that celebrate diversity, promote inclusivity, and provide equitable access to housing opportunities for all.

In conclusion, the Millennial generation is reshaping the housing market in profound ways, influencing everything from location preferences and home design to technology integration and community development. As Millennials continue to enter their prime home buying years, their impact on the housing market is expected to grow, driving innovation, sustainability, and inclusivity in the real estate industry for years to come.

When you're dealing with new construction Build 2 rent properties the insurance is much lower!  It's important to take all things into consideration especially when dealing with taxation, favorable landlord rights, demand for properties and economic growth.

Here's a great article:

YouWhy is Florida residential rental units a good investment? 

Investing in residential rental units in Florida can be appealing for several reasons:

1. Population Growth: Florida has been experiencing significant population growth for many years. This growth, driven by factors like retirees, job opportunities, and a desirable climate, increases demand for rental properties.
2. Tourism: Florida is a major tourist destination, with attractions like theme parks, beaches, and cultural events drawing millions of visitors each year. This consistent influx of tourists can create steady demand for short-term rental properties, such as vacation homes and Airbnb units.
3. Strong Rental Market: Many areas in Florida have strong rental markets, with high occupancy rates and increasing rental prices. This makes it easier for landlords to find tenants and generate steady rental income.
4. Favorable Landlord Laws: Florida has landlord-friendly laws, which can provide landlords with more control over their properties and make it easier to manage rental units.
5. Tax Benefits: Real estate investments in Florida can offer various tax benefits, including deductions for mortgage interest, property taxes, and depreciation.
6. Appreciation Potential: While past performance is not indicative of future results, many areas in Florida have historically seen strong appreciation in property values. This can potentially increase the value of your investment over time.
7. Diversification: Investing in Florida real estate can provide diversification to your investment portfolio, as it offers exposure to a different asset class compared to stocks and bonds.

However, like any investment, there are risks associated with investing in residential rental units in Florida, such as vacancy rates, property maintenance costs, and market fluctuations. It's essential to thoroughly research the local market, understand the risks, and carefully evaluate each investment opportunity before making a decision.

As a Minnesota native, I can confidently say that I prefer the warmth of a sunny state over the cold and snowy climate I grew up in. Have you ever encountered someone from the northern regions expressing a desire to retire in a perpetually cold and overcast place where they'd spend their days shoveling snow in sub-zero temperatures? I certainly haven't.

It seems that the younger generation has recognized the appeal of warmer climates, which is evident in the significant influx of non-retirees relocating to Florida. The Sunshine State has become a magnet for individuals seeking a lifestyle that offers more sunshine and less snow.

Investment Info:

Single-family residence buy & hold investment.

Multiple rental properties and land investments.

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

Family business

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

Networking

How did you finance this deal?

$ and Barter

How did you add value to the deal?

Misc improvement

What was the outcome?

$$$$$

Lessons learned? Challenges?

Cash is king

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Just me!

Look for places that are investor friendly, have expanding growth and still have a relatively low housing cost such as Florida.  Today we're seeing younger people and families leave colder areas for warmer climates.

Hello Isai, 

I'd be happy to share my insights and expertise to help identify potential investment opportunities in Tamp and Florida in general.  I've been involved in rental income properties since the 80's with my family and helping investors professionally since 2003.  I currently have new quadplexes in Jacksonville, Fl  along with duplexes and single family homes (new) around the Tampa area. Most of our current inventory qualifies for a 4.25 to 4.75% intrest rate and can acquired with as little as 5% down.  And on top of that a lot of our properties come with 2yrs. free property management and some already have tenants in place.   If you'd like to learn more or just connect please send me a DM

Best Regards,

Todd Holman
 

A lot of great points!  In most rehabs the biggest issues are the unknown problem especially with older homes.  And with todays inflation cost control could be a significant issue for someone new to the game.  For most people starting out they tend to underestimate the time and cost of the project.  Plus, property management for someone who is busy can be a huge problem. Have you considered buying new construction?   I have new properties in Jacksonville (duplexes & quadplexes) with very low down, 4.75% intrest and free property management for 2yrs.

Please let me know if you have any questions. 

Todd Holman

The MLS is very good and Zillow

Hello Denys,

I'm curious to know how your search is going?  I'm new to Bigger Pockets but not to real estate.  I've been working with investors since 2003.

Best Regards,

Todd Holman