I am so excited to finally share with you all what is next for us. I shared the options we were considering a few weeks ago and we truly didn’t know how quickly our house would sell. It was on the market for a total of 15 HOURS before it went under contract! That is completely unheard of- especially in the times we live in currently. We took things one step at a time so when we received the offer we both looked at each other and realized we had no plan of where we were going to live and we only had 4 short weeks to figure it out.
After putting a lot of thought into it, we made the decision to move into a 2 bedroom 2 bath apartment on Davis Island! Those of you who are local to Tampa know the appeal to Davis Island. It’s close to downtown, Bayshore, my work & Alton’s work. It also has the Peter O’ Knight Airport that Alton flies out of and a boat ramp for us to enjoy evening boat cruises. It checked all of our boxes and we are calling it our Honeymoon/Vacation Year. Not in the sense that we’ll be relaxing (quite the opposite), but in the sense that we’ll be living in the perfect spot for us to feel like we’re on vacation. It’s not the perfect apartment for all my design needs… It’s yellow…. Please send a prayer that I can paint it! But, for the price, we couldn’t pass it up. Yellow paint aside, I am really excited for a new design challenge. I cannot wait to get my hands on this apartment to turn it into something beautiful.
But what about renovating houses?
We are planning to invest in our next house as soon as we close on this one! I’ve connected with so many local investors so it’s just a matter of finding the right next step. And we’ll be back in the renovation game. I plan to start a new project as soon as July and wrap it up by early fall! If all goes well my goal is to invest in at least 3 flips a year to build up the cash reserves to invest in a multifamily portfolio. While, of course, growing my design business and helping other’s achieve their real estate goals.
Why Real Estate Investing?
For us it’s NOT about the money. The freedom and choice that money brings is what we’re after. We want assets that cash flow without us needing to be involved in the day to day so that we can spend time with our family and especially with our future children. We both currently work W2 jobs, and no matter how much we love our work, we go to sleep at night knowing a hard days work for someone else’s company isn’t creating generational wealth for our family. I want to build something that can be inherited and that will afford me the time and freedom to raise our children and spend holidays with our family. It’s not as easy as it sounds, but based on how we navigated this project, I know we can do anything! The best part of this plan is that our big goal is to be able to buy our first real primary residence by June of 2021. To me, it’s worth the sacrifice of living in less-than-beautiful apartment to have our “dream” home.
If you’re local to Tampa or are interested in investing in Real Estate, reach out! I would love to talk to you about your goals & how I can help.