Hey Everyone! I am looking into the Florida Market (From Palm Beach to Miami) however I am open to hearing more about other areas you all could recommend. I currently work with investors and developers here in NoCal & SoCal and would like to mirror my business model in Florida. Possibly even start flipping homes myself. Although I love the commissions received here in California as a realtor, I see more opportunity for a more prosperous, healthy and happy life in Florida. It also helps that I have family their too! :)
With my partners here, I could continue to work both states so my transition shouldn't be super hard. After almost 27 years in CA, I think I am done...
I've lived and worked in the Tampa Bay area for 27 years now, but I just returned from your neck of the woods. I absolutely love visiting Northern California. Like a lot of State's, Florida and California are really diverse with different people and markets. Think of Miami as LA. That's about where the comparison ends. Orlando is heavily tourism driven...it's got the hotel rooms and convention traffic like Vegas without the gambling and neon. The Space Coast is a bit more laid back (Jacksonville down to Vero Beach). SW Florida...Naples up to Sarasota...is very quiet with a slower lifestyle, but the Fort Myers area has been slammed with hurricanes and the real estate market is active right now (for better or worse) with people trying to capitalize on that. The Tampa Bay area feels a bit more "corporate" while the Panhandle has nice beaches, but tends to have a lifestyle closer to that of Southern Alabama. It's really, really different...like California. That being said, we have a the highest net positive migration in the country right now, but housing starts have not kept up. We sorely need housing that the lower-middle-class can afford, but the profit margins tend to be with the higher-end housing. We've been lending, building, and investing in the Tampa Bay market for many years and have a very strong understanding of the market. We've seen the ups and the downs and understand when to pounce on a deal and when to walk. I wouldn't be scared of Florida, but I would take some time to get to know the place and make sure you have strong "boots on the ground" that really knows the area before committing a lot of capital.
Broward county still has some affordable (comparatively!) waterfront. I would suggest that if you are thinking about affluent buyers / end users.
Westchase has always been high. That's because it's awesome there. Used to live right next to it in Fawn Ridge and went to the Westchase coffee shop all the time.
Bought my Fawn Ridge house for 185k. Those were the days.....
I had a GF there, so was there often, Not a fan, jsut a concrete jungle, sure " down town" was ok, but IMO crazy high as is all of FL,
YEP 185k, I remember LOL
All the best,
Concrete jungle? Westchase is a golf course community. Maybe I misunderstood you. Westwood, right next to it, yeah. That's the tricky thing about Florida. You cross the street the neighborhood changes dramatically.
Hey Everyone! I am looking into the Florida Market (From Palm Beach to Miami) however I am open to hearing more about other areas you all could recommend. I currently work with investors and developers here in NoCal & SoCal and would like to mirror my business model in Florida. Possibly even start flipping homes myself. Although I love the commissions received here in California as a realtor, I see more opportunity for a more prosperous, healthy and happy life in Florida. It also helps that I have family their too! :)
With my partners here, I could continue to work both states so my transition shouldn't be super hard. After almost 27 years in CA, I think I am done..
Hi @Dana A. I am a realtor and investor (with 9 doors) in south Florida. There is still money to be made in south Florida flips. I am eyeing some myself. I am most familiar w/ Fort Lauderdale and Miami areas and to a decent extent in Palm Beach. I was just out there in the bay area in January, it is either scary or insanely expensive haha. If you'd like to chat about south Florida, I would be happy to help.
Insane is right. The next town over from me is Atherton. It'll cost you between 7 & 8m for a 1 acre lot (but you can build a 35-45m home) Crazy! Initially I'd like to get to know the best market to mirror my business model in. Preferably higher end homes. Invest in a modest place for me to live and hopefully upgrade at a later date and rent that out. Once a network is built, and I know the lay of the land, eventually work into flipping...
Well there are a TON of affluent areas in South FL so you'll be ok but the prices are nothing like SF/LA...yet. We don't have a ton of $7-8m homes lol. Ideally, get your primary as soon as you can get out here as rents continue to rise fast. House prices are still high are kind of steadying. Prices are high crazy high (compared to 3 years ago), but you can still get a decent SFH for 500k that would've cost 250-300k three years ago. I am lucky I bought my primary in 2020.
There are not many great LTR investments here so if you plan to buy and hold, you better get something that needs a ton of work that you can make into a STR/MTR.
@Dana A. I would consider Pinellas, Sarasota and Charlotte counties for a start if you have any interest in Florida's west coast. Palm Harbor, any of the Beach towns in Pinellas (e.g. St pete's beach, Clearwater, etc), Siesta Key and the shore line down to Boca Grande (including Boca Grande). The area between Boca Grande and Sarasota is developing like mad.
Broward county still has some affordable (comparatively!) waterfront. I would suggest that if you are thinking about affluent buyers / end users.
That's exactly where my search started :) If I were to get my FL RE License now, I am assuming that similar to California, I would need to get with a broker/ Association before I can get MLS access?
@Dana A. I would consider Pinellas, Sarasota and Charlotte counties for a start if you have any interest in Florida's west coast. Palm Harbor, any of the Beach towns in Pinellas (e.g. St pete's beach, Clearwater, etc), Siesta Key and the shore line down to Boca Grande (including Boca Grande). The area between Boca Grande and Sarasota is developing like mad.
Hey Everyone! I am looking into the Florida Market (From Palm Beach to Miami) however I am open to hearing more about other areas you all could recommend. I currently work with investors and developers here in NoCal & SoCal and would like to mirror my business model in Florida. Possibly even start flipping homes myself. Although I love the commissions received here in California as a realtor, I see more opportunity for a more prosperous, healthy and happy life in Florida. It also helps that I have family their too! :)
With my partners here, I could continue to work both states so my transition shouldn't be super hard. After almost 27 years in CA, I think I am done..
Hi @Dana A. I am a realtor and investor (with 9 doors) in south Florida. There is still money to be made in south Florida flips. I am eyeing some myself. I am most familiar w/ Fort Lauderdale and Miami areas and to a decent extent in Palm Beach. I was just out there in the bay area in January, it is either scary or insanely expensive haha. If you'd like to chat about south Florida, I would be happy to help.
Insane is right. The next town over from me is Atherton. It'll cost you between 7 & 8m for a 1 acre lot (but you can build a 35-45m home) Crazy! Initially I'd like to get to know the best market to mirror my business model in. Preferably higher end homes. Invest in a modest place for me to live and hopefully upgrade at a later date and rent that out. Once a network is built, and I know the lay of the land, eventually work into flipping...
Well there are a TON of affluent areas in South FL so you'll be ok but the prices are nothing like SF/LA...yet. We don't have a ton of $7-8m homes lol. Ideally, get your primary as soon as you can get out here as rents continue to rise fast. House prices are still high are kind of steadying. Prices are high crazy high (compared to 3 years ago), but you can still get a decent SFH for 500k that would've cost 250-300k three years ago. I am lucky I bought my primary in 2020.
There are not many great LTR investments here so if you plan to buy and hold, you better get something that needs a ton of work that you can make into a STR/MTR.
@Dana A. West coast of Florida will surprise you - not Atherton, exactly, but the following is not atypical . . . https://www.realtor.com/reales...
@Bob S. Dunedin is not exactly Tampa, is it? And there is much more to Tampa than Westchase, probably those areas you're not familiar with. As far as I know, there are realtors who have access to off market properties. Thank you for the feedback, Bob.
All the best in Midwest!
Hi Dana! I live close to Delray and my husband and I who are both realtors love it! As far as living a prosperous healthy happy life there is no other place we would live other than south Florida unless we went somewhere in Europe. The dream is to one day do half the year here half the year in Europe :) Also, I’m not sure what kind of investment properties you are looking for but I do have a new listing that’s a licensed ALF duplex. If you have anymore questions about the palm beach surrounding areas let me know I’m happy to help!
Jennifer
@Bob S. Dunedin is not exactly Tampa, is it? And there is much more to Tampa than Westchase, probably those areas you're not familiar with. As far as I know, there are realtors who have access to off market properties. Thank you for the feedback, Bob.
All the best in Midwest!
I have a huge network, I know most of the markets in FL, from Tarpon down to Naples, over to Miami up to St Augustine, FL is way overpriced. If you can get 5% net cap, you will be lucky, No realtors do not , for the most part have the deals. I have done 100s and 100s and 100s, never using a realtor
@Bob S. Dunedin is not exactly Tampa, is it? And there is much more to Tampa than Westchase, probably those areas you're not familiar with. As far as I know, there are realtors who have access to off market properties. Thank you for the feedback, Bob.
All the best in Midwest!
I have a huge network, I know most of the markets in FL, from Tarpon down to Naples, over to Miami up to St Augustine, FL is way overpriced. If you can get 5% net cap, you will be lucky, No realtors do not , for the most part have the deals. I have done 100s and 100s and 100s, never using a realtor
I am very happy for you that you are so well connected! All the best, Bob
State Golf Association says it's Darryl but like Lucie said, so glad you are so well connected. All the best, Bob.
State Golf Association says it's Darryl but like Lucie said, so glad you are so well connected. All the best, Bob.
West Chase Pro is Mike and his two kids ( twins) that are below scratch golfers. I just looked they are still running the gold academy there.
All the best,
For the record, Ibuys*itholehouses.com is the funniest URL I've ever seen in this business, lol. I could have used that in Indiana. It was very accurate there.
For the record, Ibuys*itholehouses.com is the funniest URL I've ever seen in this business, lol. I could have used that in Indiana. It was very accurate there.
Lol, I bought it as a goof, I do not really use it much, glad you liked it
This is the most accurate statement on investing in Florida I've seen. I have a son with autism so I live near NASA where autism rates are high and thus services for him are the best in frankly the Eastern half of the US. I like the particular community I'm in for now for what he needs, but I will probably choose St. Augustine at some point. I'll take an aged port in a 200-year-old masonry wine grotto over a margarita at a tiki bar. Prices are high right now but they are stagnating while rents are continuing to rise.
I saw your comment re the Midwest and I get where your mind is at. One thing about the Midwest that is an advantage over Florida is the weather isn't out to destroy everything you own, generally. Even "good" weather here eats everything. Construction has risen to combat that but it still exists. Frankly if you had a modern Florida built house in the Midwest it'd last forever, through tornadoes and all. You might also want to be wary of HOAs. We don't have local zoning like most states. In fact the most recent update to our building code took away a lot of local code authority. What we do have to make up for that is a robust HOA bylaws.
Timothy,
Not only the weather but the salt air. I had a personal Gulf front home in PCB. When I got tired of the drive I sold it. I did consider keeping it an an STR, but my experience with the maintenance convinced me otherwise. It's nearly unbelievable.
During 4 years of ownership I went through 8 barbecue grills that rusted out (all stainless steel). Stainless steel deck screws rusting away. HDMI cables corroding IN THE WALLS. Door knobs falling off. Had to replace a two year old heat pump unit. Outdoor furniture lasted one year, even expensive aluminum and rattan. Outdoor speakers and surveillance cameras were impossible to keep working. Had to replace outside electrical panel as well.
Literally had a $30 an hour handyman work nearly full-time at the house just trying to stay ahead of the corrosion and humidity issues. Not to mention 3 hurricanes in 4 years.
Now I own a lake front on fresh water near my home in Ohio. LOL
Gary
This is the most accurate statement on investing in Florida I've seen. I have a son with autism so I live near NASA where autism rates are high and thus services for him are the best in frankly the Eastern half of the US. I like the particular community I'm in for now for what he needs, but I will probably choose St. Augustine at some point. I'll take an aged port in a 200-year-old masonry wine grotto over a margarita at a tiki bar. Prices are high right now but they are stagnating while rents are continuing to rise.
I saw your comment re the Midwest and I get where your mind is at. One thing about the Midwest that is an advantage over Florida is the weather isn't out to destroy everything you own, generally. Even "good" weather here eats everything. Construction has risen to combat that but it still exists. Frankly if you had a modern Florida built house in the Midwest it'd last forever, through tornadoes and all. You might also want to be wary of HOAs. We don't have local zoning like most states. In fact the most recent update to our building code took away a lot of local code authority. What we do have to make up for that is a robust HOA bylaws.
Timothy,
Not only the weather but the salt air. I had a personal Gulf front home in PCB. When I got tired of the drive I sold it. I did consider keeping it an an STR, but my experience with the maintenance convinced me otherwise. It's nearly unbelievable.
During 4 years of ownership I went through 8 barbecue grills that rusted out (all stainless steel). Stainless steel deck screws rusting away. HDMI cables corroding IN THE WALLS. Door knobs falling off. Had to replace a two year old heat pump unit. Outdoor furniture lasted one year, even expensive aluminum and rattan. Outdoor speakers and surveillance cameras were impossible to keep working. Had to replace outside electrical panel as well.
Literally had a $30 an hour handyman work nearly full-time at the house just trying to stay ahead of the corrosion and humidity issues. Not to mention 3 hurricanes in 4 years.
Now I own a lake front on fresh water near my home in Ohio. LOL
Gary
Yep, I live on the water, but on fresh water, 8 miles inland from the ocean. Sun eats just about everything still but the salt isn't too bad.
Broward county still has some affordable (comparatively!) waterfront. I would suggest that if you are thinking about affluent buyers / end users.
That's exactly where my search started :) If I were to get my FL RE License now, I am assuming that similar to California, I would need to get with a broker/ Association before I can get MLS access?
Great minds :)
Either sign up with a brokerage OR get your FLA broker license. Need a brokerage for MLS access.
Broward county still has some affordable (comparatively!) waterfront. I would suggest that if you are thinking about affluent buyers / end users.
That's exactly where my search started :) If I were to get my FL RE License now, I am assuming that similar to California, I would need to get with a broker/ Association before I can get MLS access?
Great minds :)
Either sign up with a brokerage OR get your FLA broker license. Need a brokerage for MLS access.
@Dana A. West coast of Florida will surprise you - not Atherton, exactly, but the following is not atypical . . . https://www.realtor.com/reales...
Now that's a nice piece of real estate!
Hi Dana! I live close to Delray and my husband and I who are both realtors love it! As far as living a prosperous healthy happy life there is no other place we would live other than south Florida unless we went somewhere in Europe. The dream is to one day do half the year here half the year in Europe :) Also, I’m not sure what kind of investment properties you are looking for but I do have a new listing that’s a licensed ALF duplex. If you have anymore questions about the palm beach surrounding areas let me know I’m happy to help!
Jennifer
I just sent you a message!
Unless you have a time machine and can go back to before May 2020 you missed the boat. Inland prices are up 50% since May 2020, and coastal way higher.
Hey Everyone! I am looking into the Florida Market (From Palm Beach to Miami) however I am open to hearing more about other areas you all could recommend. I currently work with investors and developers here in NoCal & SoCal and would like to mirror my business model in Florida. Possibly even start flipping homes myself. Although I love the commissions received here in California as a realtor, I see more opportunity for a more prosperous, healthy and happy life in Florida. It also helps that I have family their too! :)
With my partners here, I could continue to work both states so my transition shouldn't be super hard. After almost 27 years in CA, I think I am done...
Hey Dana, Northwest Florida is region of FL that is growing and many investors don’t know about. Destin, 30A, Panama City Beach are all great areas. As a Contractor that is currently doing work in South FL and NWF I prefer the latter. If you’d like to talk more about it I’d love to connect!
Hey Everyone! I am looking into the Florida Market (From Palm Beach to Miami) however I am open to hearing more about other areas you all could recommend. I currently work with investors and developers here in NoCal & SoCal and would like to mirror my business model in Florida. Possibly even start flipping homes myself. Although I love the commissions received here in California as a realtor, I see more opportunity for a more prosperous, healthy and happy life in Florida. It also helps that I have family their too! :)
With my partners here, I could continue to work both states so my transition shouldn't be super hard. After almost 27 years in CA, I think I am done...
Hey Dana, Northwest Florida is region of FL that is growing and many investors don’t know about. Destin, 30A, Panama City Beach are all great areas. As a Contractor that is currently doing work in South FL and NWF I prefer the latter. If you’d like to talk more about it I’d love to connect!
Good to know! I sent a connect request :)