Investor · West Palm Beach, FL · Member since 2020 · 25 posts · 7 votes
Hello Everyone -
I'm looking for my first deal to buy a investment property. I've been analyzing properties for 3 months now and there is a potential one that makes sense in terms of numbers to invest on. It's located in a community called SandalFoot Cover in Boca Raton.
1 - Is this community a good place for a first investment property ? [I'm worried as it's 20 mins from the beach]
2 - What other communities around the area you think are good for investment properties ? (I was thinking closer to FAU and The beach)
It is far out west but I don't think you will have a problem renting it. (unless you were planning to do vacation rental) It is also zoned for good school with its High school (Spanish River Community) being ranked 9/10.
SandalFoot is a large community that has many different types of properties (SFH, townhomes, condos). Really depends on which ones you are looking for and what price you can get. For 2/2 condo's in the area they are getting $1300/$1400/month. If the numbers make sense, why not invest? Just a side note, looking at the MLS some of the condos restrict you so that you can't rent the first year and some are even HOPA communities. Just be sure before you buy, look at all the restrictions the HOA has. I think if it is a SFH you can't go wrong. Rent has gone way up for SFH in Boca (so have prices) and if you get it for the right price, you definitely can make a good return.
I know the Windwood community (right next to FAU) is a popular rental community and caters to many different people (students, families, professionals). From what I have found on the MLS you don't have to wait to rent their either, which is a big perk.
Please feel free to reach out with any questions and I will be happy to help you the best way I can!
It is far out west but I don't think you will have a problem renting it. (unless you were planning to do vacation rental) It is also zoned for good school with its High school (Spanish River Community) being ranked 9/10.
SandalFoot is a large community that has many different types of properties (SFH, townhomes, condos). Really depends on which ones you are looking for and what price you can get. For 2/2 condo's in the area they are getting $1300/$1400/month. If the numbers make sense, why not invest? Just a side note, looking at the MLS some of the condos restrict you so that you can't rent the first year and some are even HOPA communities. Just be sure before you buy, look at all the restrictions the HOA has. I think if it is a SFH you can't go wrong. Rent has gone way up for SFH in Boca (so have prices) and if you get it for the right price, you definitely can make a good return.
I know the Windwood community (right next to FAU) is a popular rental community and caters to many different people (students, families, professionals). From what I have found on the MLS you don't have to wait to rent their either, which is a big perk.
Please feel free to reach out with any questions and I will be happy to help you the best way I can!
Hey Jonathan, Florida is very forgiving for Landlords and its probably one of the best states to get started. I am not too familiar with that part of boca but with the right numbers I am sure it will make sense. Good Luck!
(edit) Shop around for a good home owners insurance product. The insurance down there is really getting out of control and about to get worse. (that being said its still a great place to invest)
It's definitely a great rental market and you are going to have a strong demand if you have a quality rental as Kyle mentioned you have great schools all around you and you are pretty close to Glades and 441 intersection where you have a lot of stores and amenities as well as the West Boca hospital is right there(living in West Boca unless you are going to the beach you don't really need to leave the area). I wouldn't be too worried about distance to the beach not all Floridians need to be in walking distance to the ocean :)