I'm a Northeast person looking at purchasing a property in Deltona, Florida and I'm curious if anyone has any experience in the area? Any pieces of advice when I go to look at the property.
This would be my first investment property (of many hopefully) and advice would be appreciated.
Thanks in advance for your help.
I lived in Deltona for six years. We bought our first house there in 2005 and it became a rental and 2011. The only reason we still own it is it's increasing in value by about 6%-7% each year and we're waiting for it to reach the break even point At which we bought it. Then we will 1031 for a propert closer to us. Deltona is a good blue-collar neighborhood with easy access to the highways and it's 25 minutes from the beach. We would have bought more houses there when the market tank, but I couldn't get anyone to loan us money on investment properties in that area.
thank you Peter for your feedback. I really appreciate your feedback in this area. Have a great weekend.