In this episode of the Get Wealth Show, Michael Hoang sits down with John B. Cullen III, a real estate investor based in St. Petersburg, Florida, who buys throughout the Tampa Bay area and focuses his rental portfolio primarily in Pinellas County. John has experience with wholesaling, fix-and-flips, and buy-and-hold investing. After spending 23 years working in the medical field, he transitioned into real estate and is now focused on building long-term wealth through rental properties. John explains how the changing Tampa Bay real estate market has created new opportunities for investors. Higher interest rates, increased inventory, longer days on market, and the effects of recent hurricanes have helped bring prices down in parts of his market. But those opportunities come with challenges. John discusses flood zones, FEMA-related restrictions, permitting, hurricane-damaged properties, and why he personally avoids buying flooded properties for his rental portfolio—even though he may still wholesale them to developers or other buyers. Michael and John also break down practical ways beginners can find their first deals, including Facebook, driving for dollars, cold calling, direct mail, and the MLS. John shares the story of his first deal—a $40,000 mobile home that was sold only weeks later for roughly $80,000–$85,000—and explains how seeing that first real estate check completely changed his perspective. They also discuss one of John's current rental projects: a property purchased for only $85,000 that he believes could be worth around $275,000 after renovation, with projected rent of approximately $2,200 per month. The biggest lesson? Don't automatically run away from complicated properties. Liens, lawsuits, multiple heirs, distressed sellers, deferred maintenance, and other problems can create opportunities for investors who know how to solve them. As John puts it: “The money is made in the purchase, it's not made in the sale.” Chapters 00:01 – Meet John B. Cullen III01:00 – Building a Tampa Bay Rental Portfolio02:08 – Why a Slower Market Creates Opportunity03:13 – What's Happening in Tampa Bay Real Estate04:56 – Hurricane Damage & FEMA Restrictions05:59 – How to Research FEMA Property Records06:33 – Permits & Flood-Damaged Properties07:53 – Who Is Buying Flood-Damaged Properties?09:56 – How to Check Flood Zones12:40 – How Beginners Can Find Their First Deal14:21 – John's First Real Estate Deal16:39 – The Power of the First Check20:59 – On-Market vs. Off-Market Deals22:00 – Always Have Multiple Exit Strategies27:30 – The Money Is Made in the Purchase27:56 – How John Generates Leads Today29:45 – John's Cold Calling Budget29:56 – Why Consistency Wins in Marketing32:13 – Building Rentals in Tampa Bay32:56 – John's $2,200/Month Rental33:31 – Buying a Property for $85K34:42 – Four Months of Follow-Up Pays Off35:09 – Why John Runs Toward Problems37:38 – Five Ways to Find Real Estate Deals40:17 – The Book That Changed John's Life42:35 – Put a Date on Your Goals43:17 – Emotional Intelligence in Real Estate46:11 – Life Is Happening for You47:13 – Connect With John B. Cullen III Connect With John B. Cullen III John is interested in connecting with people who: • Have properties in the Tampa Bay area• Know someone looking to sell a property• Want to get started investing in real estate• Want to potentially work together on deals Facebook: John B. Cullen III Instagram: @JBC3RealEstateInvestor Website mentioned in the episode: Mr. Sun Homebuyers Download your Free Resources now Access Michael Hoang's free real estate resources through his Linktree. Connect With Michael Hoang Michael Hoang Instagram: @MichaelBeSomeone
