Looking to Move To Florida

25 Replies

Hey Guys, 

My girlfriend and I are looking to move to Florida. The question is we are looking to buy our first property. As i see most people doing is buying a multifamily and renting out one level. Thats exactly what we want to do. Here is the question, I was looking to get my brokers license in IL in order to have access to the mls. Would I have to redo everything once we move and another question, any recomendations on where in florida to move to where the real estate market is good for rentals and rehabs. I know its a little broad of a statement but im giving it a shot. Thanks

@Maciej Michalak  , can't speak for all of Florida, but mulit-family in Palm Beach and Broward county is tough if you want to live in it.  I'd say 90% of them are in D rated neighborhoods.  The historic area in WPB is probably an exception.   You may be better off looking in the northern half of the state (St. Lucie & Brevard county on up to Jax).  I cannot speak for the West Coast of FL, maybe there are better opps there.

Every state has different RE brokerage laws. So if you are moving I would not put the time and expenses into a states RE licensing classes until you get settled at your new location. If you just need MLS access most agents will hook you into the IDEX sytem once you contact an agency. They will ask to enter your email into their MLS IDEX. This will get you listings coming into your email weekly as they update. Florida? well, east coast from Jacksonville to Miami is hot. I have been told that Disney world is hiring 6000 people this year. 2015.

Good Luck.

Maciej, welcome to Biggerpockets. I live in Jacksonville, Fl.  Would you be moving here w/ the sole purpose of real estate investing, or is there another attraction that brings you to Florida?  I am pursuing my RE license here. I guess the question you need to answer is the reciprocity between IL and Fl.  A phone call to Tallahassee specifically the office of business and professional regulations would answer that.  Here's their web address and telephone number:   http://www.myfloridalicense.com/dbpr/

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@Maciej Michalak  - I'm with you man...heading to Florida whether they want us or not! :)  I'm in Charlotte, NC right now staring at the snow on the ground.  

Anyway, to answer one of your questions - you are in luck.  Florida has mutual recognition agreements with 8 states for real estate licensing - one of them happens to be Illinois.

Best of Luck!

Medium honoluahomesd22ar04dp02zl pierce4dTravis Hamilton, Honolua Homes | [email protected] | (844) 466‑6582 | http://honoluahomes.com

A friend has bought some MFH in Naples & Bonita Springs area, not in D neighborhoods, and not in neighborhoods with multiple boarded up houses on same block.  I'd call these B neighborhoods, but one is waterfront, might be an A neighborhood.

I would pick the area you want to live first. There are always opportunities to draw on. We live and Sell Real Estate in Naples as well as invest 70 miles North in Port Charlotte and North Port as our investor focus is on Under 100K cash flow properties and flips while our average sale as agents is over 350,000 in the Naples Market.

Jacksonville is where it's at! The city is so diverse you can find a neighborhood that is suitable for you. Not to mention it's probably the best market in Florida right now. Come down and drive the area that's what I did when I moved here last year. 

Hello to all. I am heading down to cape coral fort Myers and lehigh acres area on the 28th to look at possible investments there. I already have one house in lehigh. Ken why did you decide to pass on this area and invest in port Charlotte?! Thanks

Regards

Andy

when we looked at cape coral before, sometimes there were 3 boarded up houses on 1 block.

SW Florida is a great place to live and invest. @Ken Lowe  is correct. You should pick an area you want to live in. The foreclosures are way down in our area but there are still good deals to be made. I think whatever area you chose will be good for investment. Florida is on the upswing. 

@Maciej Michalak  

I agree with @Erik K.  - Jacksonville seems to be the best all around market in Florida right now for several reasons. A lot of my cash buyers from South Florida are driving up here 1-2 days per week becasue they can't get the deals down there. There are consistent deals here if you are good at marketing. When are you looking to move to Florida? Let me know if you have any questions about Jacksonville - Good Luck!

Medium logo   copyTim Herndon, REI Marketing Systems | [email protected] | http://reimarketing.com

Hey man, as I tell people.. Multi-families are NOT COMMON in Florida like they are up north in places like the Northeast and midwest.. it's just not the same. Multifamilies are highly competitive, and every investor and their mother wants one, so they're not cheap either. There are lots of ways to make money in real estate in Florida however, and despite some other posts on this thread, I would doubt than any place in ALL OF THE SOUTH is booming like Orlando.. Not to mention reasonable prices. More people visited Orlando than any other city on earth last year, and I would doubt there is as much New Construction going on anywhere except Miami and cities in Texas. This is place to be man.. but don't expect to have a lot of luck with multifamilies in Florida, it's a whole different animal. Tourism is the name of the game here in Real Estate. Outside investment (from other states and other countries) is surging, and you can't go wrong selling to out-of-towners when you're new. Also, vacation homes. Florida is awesome for Real Estate, but be warned, it's not like other places in the country. 

Also, I wanted to point out that I did exactly what you (and many others) are talking about. I moved here last year to pursue real estate with my wife, and it's been a crazy ride, but one that I don't regret. 

@David Krulac   You're right about Cape Coral. Areas are hit or miss. I moved to Naples and Fort Myers Beach about five years ago from right next to you in Camp Hill, PA.  

@Danielle Brooks

We were in FL in Jan for several weeks and spent time in Naples, there was lots of building going on.  Key West was also doing well.

St Pete and many other parts of Fl have new building elevation requirements to keep the living area above the newly mandated flood elevation.

The insurance on homes that are not elevated can be astronomical, these older homes are not worth elevating but some are in very nice parts of town and only worth what the vacant lot would bring. If you could use equity from another property to purchase and NOT carry insurance you might have a fine place on the cheep.

I would have to agree with Mitchell Jaworski, on the quality of some of the neighborhoods in the southern part of the state.  I too would look north.  My in-laws just bought a house our there in those parts.  They said that they found a really good deal.

What zip codes in Jacksonville should we be looking for buy and hold properties? My sister lives in Jacksonville and my job is transferring there for 2 months. Can you please recommend the best neighborhoods for buy and hold? I am thinking of buying and my sister can live there.

Sales wise the Tri-County area of Palm Beach, Broward and Miami Dade is the best place for real estate sales. But i would not waste my time with getting a license in Illinois unless it has a mutual agreement with florida. And even than you have to still take the 45 question Law exam with florida if it does. Take your test here in Florida my opinion. 

FL Agent # SL3255845

Originally posted by @Jayagowri Deenadayalan :

What zip codes in Jacksonville should we be looking for buy and hold properties? My sister lives in Jacksonville and my job is transferring there for 2 months. Can you please recommend the best neighborhoods for buy and hold? I am thinking of buying and my sister can live there.

 Apologies for hijacking this thread. Just answering this lady's question...

It depends on the price point and what you're hoping to get out of it. My favorite neighborhood at the moment is Murray Hill...you will see good cash flow (1.5% monthly) combined with high appreciation potential. That would be an area that ranges from C to B neighborhood with prices from 50-100k. 

Looking in Mandarin, Southside, etc (more typical suburban) your purchase price will go up and your ROI down, but it might be more comfortable living environment for your sister.

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