Palm Coast might not have the flashy reputation of Miami, but there’s a lot to love in that area’s growth potential.I’ve been around the real estate block for a few decades, and one thing I’ve seen is that luxury rentals can thrive when they’re more than just “pretty”.. they need staying power.

More than likely, you’re going to encounter some kind of problem or unexpected circumstance at some point.

What are your long term goals (eg do you want to buy another house) and do you have a large savings set aside for unexpected expenses? 

Paying down the note quickly is a power move too—love that disciplined mindset!

Quote from @Raul Velazquez: Hi powerful BiggerPockets members!

Talk to house hackers because that would be a great way to start, but you are also advanced with money so you may find smarter options that act more like index funds (syndications).Yes I was actually looking at syndications that was going to be my next research topic that seems extremely interesting and powerful syndication seems like an awesome way to diversify without getting my hands dirty necessarily.

I dealt with evictions, unexpected repairs, and the ups and downs of tenant relationships—but I also made huge strides in improving the property’s value and financial performance.

Speak with lenders early to understand your borrowing power, and explore multifamily properties to maximize your house-hacking potential.

It’s also helpful to build a small network of trusted vendors and tradespeople you can rely on for future projects.The BRRRR strategy can be a great way to scale, but I’d advise budgeting some extra cushion for unexpected costs or delays—it’s almost inevitable.

I have spent the last few years reading many books on real estate, taking real estate courses, researching, saving as much as I could, investing (to increase my purchase power) and finally feel I can begin my real estate journey this year.