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REDDIT

Should I move to Florida and start flipping, using profits to invest in Multifamily in 3-5 years

C
Feb 24, 2025 · 14:59

I am a 33 yo male who is strongly considering getting my E-2, leaving Toronto for Florida and starting a real estate company. I have managed, and reno'd a 4 plex and would be doing fix and flips to generate income, then would buy Multifamily. I would have lots of margin and cash + investors.

I have already looked at deals that would profit me 50-100K and account for closing, hard money, points, 6 months turnaround (likely only need 3) and can be rented for a profit if it doesnt sell after taking most of the expenses out via mortgage. I also have a mentor doing this making 800k in his 2nd year who will help me find deals, qualify and get started. I have 300k cash, 800 credit, hard money lined up, plus investors that can get me 1 million. I would be hiring out the work but managing it myself and have contracting experience. I have run the numbers with a lot of margin to be safe..... Should I go all in??