Remy was looking for rental properties in one of America’s hottest housing markets. He knew picking up one rental property, let alone a multifamily, wouldn’t be cheap. But, somehow, even as a newcomer to the area, Remy was able to buy a rental property at a deep discount. He got three rental units for the price of two in a market with loads of investors and immense competition. How did he do it? We’re about to share the secret.
In this episode of the BiggerPockets Real Estate podcast, we’re talking to out-of-state investor Remy, as well as Kim Meredith-Hampton, long-time real estate investor and Remy’s agent! Kim operates both in Tampa and Orlando, Florida, serving investor clients looking to buy in a state that has seen immense population growth. Seeking to take advantage of strong demographic trends, Remy picked Kim as his go-to Florida agent, and the rest is history.
Remy and Kim will talk through the three-for-the-price-of-two deal they picked up in the very competitive Florida market and how they were able to get the deal done EVEN when financing fell through, LLC problems came up, and a hurricane froze the Florida state government. You’ll also hear about the final numbers of the deal and why Remy ISN’T counting on big cash flow BUT will make his riches another way from the rentals.
In This Episode We Cover:
Why so many Americans are flocking to the Florida housing market (and how to take advantage)
Building your “buy box” and how to know what a great deal looks like
Low cash flow and why banking on passive income ISN’T always a wise move
Why you should ALWAYS look for rental properties that come BACK on the market
Financing troubles and how Remy dealt with numerous housing hiccups
Why waiting to invest will cost you and how to get started today!
And So Much More!
Links from the Show
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Explosive Growth Could Be in Store for These Two Real Estate Markets w/Kim Meredith-Hampton
Florida Overtakes New York as Second-Biggest US Housing Market
Book Mentioned in the Show:
Pillars of Wealth by David Greene
Connect with Kim:
Kim's BiggerPockets Profile
Kim's Website
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-861
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