Realtors know real estate. Why not invest?

When Cynthia DeLuca bought her first rental property in 1999, one of its units rented for $300 a month. Today, that same small efficiency brings in $1,550.

That growth helped turn one investment into a long-term wealth-building strategy. DeLuca has since used rental properties to help cover her children’s college expenses and create the cash flow that allows her and her husband to travel six months of the year.

“The question is how much cash flow do you need to live the life that you want?” said DeLuca, a Realtor® with Adams, Cameron & Co. and a Florida Realtors® instructor. “I set my goals years ago at this is the cash flow I wanted at a certain point in time to retire.”

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DeLuca discussed her approach to investing during a Florida Realtors Live interview at the Florida Realtors Convention & Trade Expo. She purchased her first rental property, a two-unit building, in 1999. About a year later, her accountant showed her that the property was producing cash flow and providing tax benefits.

“I think from there I became hooked,” she said.

Although DeLuca has flipped properties, she prefers buying and holding them. Flipping requires investors to properly time the market, she said, while long-term ownership offers several potential benefits:

• Property appreciation over time
• Mortgage principal paid down through rental income
• Monthly cash flow
• Depreciation for tax purposes

“With buying and holding long term, you’re getting actually multiple opportunities and advantages,” DeLuca said.

For those unsure where to begin, DeLuca recommends first evaluating household debt and cutting spending that exceeds the household’s means. One possible entry point is converting a current home into a rental when purchasing another primary residence.

Buyers could also consider a duplex, triplex or fourplex, living in one unit and renting the others. DeLuca’s daughter began with a duplex and paid about $200 a month out of pocket after collecting rent from the other unit. After a year, she moved, purchased another property and continued the process.

“It’s education, it’s people realizing you can do this,” DeLuca said. “You don’t have to be ultra rich. You don’t have to have a bunch of extra money laying around.”

DeLuca also used long-term rentals as part of her family’s college planning. She purchased properties while her children were young, assigned each property to a child and directed the cash flow back into paying off and maintaining it.

Once a child reached college age, the family could sell the property or use its monthly income for tuition and other expenses.

DeLuca said investors should focus less on the size of their portfolio and more on what the properties produce.

“I know people that have four properties that make it work, and then I also know people that have 100 properties, but they have negative cash flow,” she said. “It’s really about, for me, determining the cash flow and then working backwards.”

She encourages prospective investors to seek education through experienced mentors, local Realtor associations and Florida Realtors. Investors should also understand the tax consequences and decide early what they ultimately plan to do with their properties.

“You start with the end in mind,” DeLuca said. “Almost every investor I’ve worked with, they never think about the end goal.”

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