Help, My Market SUCKS! (South Florida)

[David McEwan]

Ok guys so as I prepare to purchase my 1st owner occupied multiplex unit and read more and more about the 2%, 50% etc. rule, I notice that my numbers aren't looking like everyone says it should because of how expensive the real estate market is down here in sunny south Florida. I've read that even if it isn't a (+cash flow) deal its still a good investment, but others have said they wouldn't do it so I'm between going for it or just buying a single family for myself then invest in multis elsewhere. Your advice would be appreciated! Thanks again ladies and gents!

[Mitchell L.]

I'm a local realtor and investor so I'm familiar with the market and in some places, the cash flow is great while others are not the case.. What cities or parts of the cities are you seeking at the properties.. Anything near the coast or East of US 1, you can forget about the 2% rule... You will be lucky with 1%... Also, multi-family properties down here are Overpriced right now!!