South Florida Market

[Ian Hamer]

I have been looking at properties in Palm Beach and Broward County. Has anybody had luck finding deals that cash flow with standard 20% down in the last year or so?

[Jon Huber]

@Ian Hamer Palm Beach and Broward County deals are very hard to come buy. The issue is simple. There are a lot of people with money in these counties. Many people who are beginning to retire have been burned by the recession. I know many that lost a good portion of their 401k. Due to the strong market down here, they can put their money in housing. Most meetups and meetings, you will find plenty of hard money lenders. There is a surplus of people with money that want to put it to good use. This means that deals (if they are truly a good deal), are gone rather quickly. Really good MLS deals are gone within a day, and really good wholesale deals can be gone within hours.

You're going to have to have your funding lined up, your contractor/inspector on stand by... and you're going to need to be aggressive. With all that being said, as you mentioned putting 20% down... you may even be pushed around by cash buyers. It's the nature of the beast.

Good luck out there...