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Wesley Burdette has always had a hand in real estate investing, however he began on the lending side in the Washington D.C./metro area. From lending he moved towards single-family residential flipping with his sights set on the Florida real estate markets. After finding success in the single-family markets, Wesley endeavored into real estate development and now has several projects in progress in the Seminole Heights neighborhood of Tampa, notably a 46 unit loft-living complex, The Warehouse as well as four new townhouses.
Wesley joins us to discuss his transition from flipper to developer and covers key tips for investing in the Florida real estate markets along with advice on how to diversify your investments and foray into larger investment markets.
- Know Your Market
- Research the areas you are considering investing in
- Understand consumer psyche – what do people want in a home?
- Know your contractors, work closely with them
- Millennial Markets on the rise: Seminole Heights
- Budget
- Know what you can afford
- House-flipping is all about initial buy
- Cost structure
- Adaptive reuse (commercial, multi-family)
- Infrastructure (basic repairs)
Wesley’s Tips:
- Perseverance is key.
- Entering into investment real estate can be intimidating, but with determination and the proper know-how you can find success.
- Be careful with your investments. Don’t get locked into something uncertain
If you are interested in investing in the Seminole Heights area or just looking for some local urban flavor, check out: The Rooster and the Till or The Refinery
To view pictures of Wesley’s multi-family development project, The Warehouse, click here.
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Wesley can also be contacted directly at: wburdett1@yahoo.com