As a Newbie, I am going fast. This is my 3rd question post in four days.
My investment priority is Cash Flow. The rental in south Florida seems quite low, my 1st purchase was $240k two years ago, now worth of $300k. But the rental is just a bit over $2k. Originally, I wanted to buy another property in the same area, but it seems difficult to have CF. Financially, I feel a little bit more flexibility after talked to a couple of lenders. So I don't mind go for $350k or even multi-units.
For a positive CF, which areas in FL should I look? And what price range?
every area in FL will be a little different. as prices climb and rents do not, your margins will go down. in Tampa I am seeing between .08%-1% on the 2% rule.
now CF is not that great in areas, but you will see it or make it up on appreciation.
Multifamily will almost always have a better cash flow, as a percentage of price, but will generally lag behind SFR's in appreciation. But, for SFR's cash flow percentage will be higher with under $150k.
As a fellow newb, a newbier newb than you, I'm glad to hear you are doing well here in South Florida. I am born and raised down here and now have been living in my primary residence for a year and half now and just getting into the mindset of generating passive income and cash flow, myself.
Multi-family definitely seems to be a theme of what I read as to what is the best bet, but of course, above all, it has to be a deal in the first place.
Looking forward to following your investment journey. Good luck!
Hi @Pilar Jin
In Pasco County (north Tampa) I am seeing 3-4 bed single family homes renting for $950-$1150 per month based on turnkey prices of $85,000 - $100,000. Send me a PM if you would like more details.
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