All Forum Posts by: Tyler Gibson

Hello! My name is Vinh Dawkins, and I am a student entering my senior year next fall. I am looking to pursue a career as a commercial broker. I will intern at a commercial brokerage in Lakeland, FL, this summer. What prep materials or programs will benefit me before getting my license? Thank you!

Hello all! 

My name is Thomas (Tommy) Casella. Currently an RN in Orlando but will be relocating to south FL in the next few months and making the occasional trip back to Orlando. Trying to optimize my finances and save for future investments at this moment but definitely buying all the books I can, listening to podcasts on drives, etc etc. and very interested in the game! Wanted to know if any meetups/resources/tips that stand out to people that would benefit me during this time. 

Thanks! 

Quote from @Tyler Gibson:

Quote from @Lenny Reinstein:

Even though I am almost 50 and work in finance in NY, I have zero practical experience with the real estate investment. Dreamed about real estate investing fore years... 

I would like to buy my 1st property and try it out. I cannot be in FL to manage, so will need to hire a management company.

And don't want to start with a large loan. Want to start small. Where could I buy a studio or 1br that is a ready to rent condition that would make sense with the current interest rates and market situation,  and what would be the price range? Would love your advise. 

 What's your budget look like? The cheapest property you can buy is not always the one that's going to be the best investment. It's important to look at other factors not just cash flow will there be appreciation? (This is how you really grow your wealth)

The budget is that I can easily come up with 60-80K in cash. And can borrow up to 200K. But would rather start at a lower price point. 
I.e., a studio in a popular spot that is easy to rent out would be something I'd be looking for.

Even though I am almost 50 and work in finance in NY, I have zero practical experience with the real estate investment. Dreamed about real estate investing fore years... 

I would like to buy my 1st property and try it out. I cannot be in FL to manage, so will need to hire a management company.

And don't want to start with a large loan. Want to start small. Where could I buy a studio or 1br that is a ready to rent condition that would make sense with the current interest rates and market situation,  and what would be the price range? Would love your advise. 

Greetings BiggerPockets Mates!

I really value the BiggerPockets community and the human wisdom and partnerships available here. I am a first time investor with a decent amount of cash to put down for my first investment property. I am fortunate to be able to invest a decent pot of my life savings (+1mm) cash in investment real estate.

I am a W2 employee and would like to partner up with a strong local team where ever I end up investing (Mortgage Broker, Title Co, General Contractor, Property Manager). My plan is to deploy capital now if there are deals worthy of jumping into, taking 1-2 years to stabalize and make the property run efficiently, and then give up my W2 job to do a whole lot more of the same. 

I am located in the Bay Area and of course multi-family is insanely expensive here. Would you advise that I look else where for my first deal or 2 - possibly else where in California (Sacramento, Los Angeles, San Diego) or Texas (Dallas, San Antonio, Austin) or Florida (Orlando, Miami)? 



With gratitude,
UV Singh

Bay Area, CA

Quote from @Tyler Gibson:

Quote from @Kevin G.:

Hello everyone!

I am very interested in investing in STRs in Kissimmee, FL or in LTRs in Tampa. I currently live in California and am wondering if it is feasible to invest so far out of state. How much would I realistically need to be "boots on the ground" to pull this off? I know out-of-state investing gets asked about a lot, but I would love to learn from people who are actually doing it in Florida.

I am considering Florida due to its lower barrier of entry for someone like me from California. I had originally thought of investing in the SoCal and San Diego markets, but the overall cash needed is too high.

For STRs, I have thought about Kissimmee due to its strong demand and close proximity to Disney World. My plan is to find a 4-bedroom single-family home with a pool or in a community that has a pool, which needs some moderate renovations to build some instant equity. Then, I would design it to have a nice Disney theme to attract guests. The hard part is being in California to make this happen.

Another option for me was to invest in the strong market of Tampa, FL for an LTR. I don't know much about the market, but from what I've gathered so far, homes have appreciated drastically and continue to appreciate. I'd look at either SFH or multi-family units in this area to rent out.

Any advice would be greatly appreciated! Thank you.

Hello, when considering investing in the Disney area a couple of things to keep in mind. The best performing properties are five plus bedrooms and are highly themed out. You do not have to be that much boots on the ground in order to own and operate these, especially if you hire a great property manager. Disney short-term rentals require you to have a world-class operation along with world class theming and design. I also suggest you buy a property in one of the resort style communities while this will have a higher HOA cost it will allow you to use all the great amenities that they have such as the pools, clubhouse, fitness center, and other great amenities that some of these resorts offer as part of your marketing material.

Long-term rental opportunities can still be found in Central Florida including areas between Tampa and Orlando.

Hi Tyler! Thank you for the great information. However, I must respectfully disagree with your statement that SFH with 3 to 4 bedrooms would not be profitable. When I use multiple factors to determine if a property would be a good investment for me, I find that there are quite a few properties that offer both cash flow and appreciation potential. While I understand that this may be more limited that a larger home, my research has shown that it can still be done.

Although I do agree that a 5 bedroom property would be ideal for investment purposes, I have been using metrics such as Airdna, Awning, Datarabbu, and DealCheck to analyze and evaluate my properties in order to get a better understanding of whether or not they will be profitable.

Maybe I'm thinking more long-term, but a single-family home seems to be a better option for appreciation compared to a condo.

Thoughts?

Hello, my name is Vince Biegel and I play linebacker for the Baltimore Ravens. I reside in South Florida and looking to get into small 3/4 unit multifamily units. Looking to learn. Talk with other similar investors in the area. Brokers. And advice from the BP group in investing in a new area. Thank you all!!!

Hey there, I am in need of a CPA that has expertise in a few areas as I have a number of things going on from multiple streams of income. I own multi-family real estate. I also own a custom cake business with my wife, another small business that has contracts with multiple cruise ship lines and a full time career in the music industry, dealing with royalties on album sales from our record label and multiple tours throughout the year. My former business coordinator and CPA unfortunately passed away and I am in need of someone to help me manage all that I have going on. I need a CPA that is available year round as I may need to be advised throughout the year. Preferably someone in Orlando but am open to a great CPA anywhere in the country. Thanks