It’s for real. I really do own rentals in Florida!
Nice ones at that. There are two duplexes with one 2 bed, 1 bath and one 1 bed, 1 bath in each house. I posted some photos of them here on the blog earlier, but I think you might get a better idea of it all in this video from our walk around the place:
I am honestly pretty proud of what we did, me and Rachel. These two duplexes are now in really good condition. There is also a smaller house in the back of the property which is rented by a very kind and quiet old man. We then have two more houses down the street, both rented to nice and clean younger men.
If we get everything rented, which we should since there is already a long list of people wanting to move in, we should be getting a 25% return on investment. That is really spectacular and makes me very happy to say the least. We spent $ 155 000 buying all the houses. Another $ 15 000 on fixing them up. $ 170 000 total. Rental income should be just over $ 4 000 a month.
Next step is to buy more places I suppose. If we can keep these kinds of cash flow and find good renters, there is no reason not to buy as much as possible.
I am really happy this is all happening. I have been wanting to own rentals in Florida and the united States in general for that matter since I got into the business a few years ago. It just feels more business being into the American real estate market too. I also hope the insight on the different markets will help make me a better investor.
Another way to become a better investor is to read good books. I have just started a new one, even though I have been bad at making as much time for reading as I’d like. You can read about the book HERE.
And if you haven’t already, I’d be a happy man if you subscribed to my YouTube channel!