Investor · Charlotte, NC · Member since 2020 · 139 posts · 95 votes
Hello!
I am planning on moving to the Fort Walton Beach/Destin, FL area shortly in a few months and to continue investing in real estate. I'm looking for a multifamily to purchase and house hack down there as I continue investing in the area doing BRRRR's, flips, commercial properties etc.
It seems like there are very few multi-families around that area that come up on the market. Any realtors in that area that may have some knowledge or know of some off market inventory?
Also I'm looking to either BRRRR properties and rent to military and possibly dabble in some STR in the area too. I am more interested in LTR's though as it is more passive obviously, but open to doing one or so STR. Any insight would help!
Commercial larger properties are my main focus, but it seems single family BRRRR’s/flips might be a good play in the area.
Looking to connect with anyone in that location as well!
Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes
4y
@Wendell Butler just came back this week from the Beach. So many for sale signs but I think those are $1M+. I am interested to see what you find. It's an amazing area.
Investor · Charlotte, NC · Member since 2020 · 139 posts · 95 votes
4y
@Lucia Rushton Yeah a lot of nicer houses are for sure. Those aren't really what I am looking for though, I can definitely try to keep you posted on what I find in the BRRRR/Flip/Multifamily target area!
Real Estate Agent · Tampa, FL · Member since 2018 · 464 posts · 452 votes
4y
@Wendell Butler - As an active investor and agent in the area, I'll confirm your initial observations! Multifamily properties in this area are not common; they do pop up from time-to-time though~
I think you'll see that there are a lot more STR investors down here over LTR investors, just due to the nature of the market. While LTRs can be fantastic due to the solid military influence, STRs will generally cash flow more. Yes, they are a bit more work to self manage, but if you automate your systems properly, it shouldn't be a massive burden at all.
If you're looking for commercial properties, I recently listed a value-add office in Crestview. It's not your house hacking dream, but it's a solid value-add play for sure. It had office space rented by the state of Florida and storage that could be monetized (currently being used personally by the owner.)
There are plenty of great REI meetups in the area as well with a solid group of local investors --- Best of luck!
@Wendell Butler - As an active investor and agent in the area, I'll confirm your initial observations! Multifamily properties in this area are not common; they do pop up from time-to-time though~
I think you'll see that there are a lot more STR investors down here over LTR investors, just due to the nature of the market. While LTRs can be fantastic due to the solid military influence, STRs will generally cash flow more. Yes, they are a bit more work to self manage, but if you automate your systems properly, it shouldn't be a massive burden at all.
If you're looking for commercial properties, I recently listed a value-add office in Crestview. It's not your house hacking dream, but it's a solid value-add play for sure. It had office space rented by the state of Florida and storage that could be monetized (currently being used personally by the owner.)
There are plenty of great REI meetups in the area as well with a solid group of local investors --- Best of luck!
Thank you for the insight! Maybe when I’m down there I will run into you at one of the meet ups!