In which warm city should I buy a winter home duplex?

29 Replies

I am an investor, I have 7 properties free and clear, and I have bought foreclosures and bank REO's.

I want to buy a winter home that is a duplex in a warm city where I can get a foreclosed duplex in a B or C class neighborhood for under $200k.  I bought a house in east Austin and lived there and liked it, but it wasn't warm enough in the winter.  I'm looking at Florida, San Diego, Arizona, and San Antonio.   I plan to rent out half the duplex year round, and have my side of the duplex ready for me to live in every winter, and any time that I want a vacation. Any thoughts opinions or advice would be much appreciated.  Thanks!

@Patrick Costello

Great to see you have all 7 properties free and clear! if you ever wanted to purchase more you can cash out on up to the first 4 mortgaged properties, to use as down payments. It is great to see you have so much success!

@Patrick Costello

You may want to scratch San Antonio off your list too. The climate isn't substantially different than Austin.  Depending on what you are looking for in a community you can look a bit further south.  Lots of "Winter Texans" have houses in the Mcallen, or Harlingen area.... even South Padre Island.... 

jeff

Originally posted by @Jeff W.:

@Patrick Costello

You may want to scratch San Antonio off your list too. The climate isn't substantially different than Austin.  Depending on what you are looking for in a community you can look a bit further south.  Lots of "Winter Texans" have houses in the Mcallen, or Harlingen area.... even South Padre Island.... 

jeff

 Good suggestions, maybe Corpus Christi, too.  

Welcome Patrick.

SW Florida is a good choice, as is South Florida area, though much tougher to find a duplex under the $200,000 mark in Miami/Fort Lauderdale.  I have traveled back and forth on Alligator Alley (I-75) many times to hang out with family and friends on the Gulf Coast of Florida, specifically Naples, Cape Coral, and Bonita Springs.  

Weather is warm and sunny on both coasts, rents are solid.  I think you will find a better return on investment in SW Florida, and more duplexes in your price range in Cape Coral and Fort Myers.  Fort Lauderdale may be too expensive, but just an hour and a half ride or less, on the "Alley".

I admit I am a bit biased, but Jacksonville, FL area would be high on my list, but finding a duplex in that price range might be a challenge. Are you willing to do some work on it?

I admit I am a bit biased, but Jacksonville, FL area would be high on my list, but finding a duplex in that price range might be a challenge. Are you willing to do some work on it?

That's a pretty cool idea ! (no pun intended)

A slight twist on it might be a duplex in an area that is desirable enough that your half could be AirBnB'd during the summer.  

Jacksonville Florida is the place.

There are a ton of great deals, there a great duplex down the street well under $200k

hit me up in the morning, I can give you all the details.

St Augustine you can rent it out all year long and do not fall for the Jacksonville is close to St Augustine so buy there...it is NOT...St Augustine is St Augustine 

Originally posted by @Patrick Costello :

I want to buy a winter home that is a duplex in a warm city where I can get a foreclosed duplex in a B or C class neighborhood for under $200k.  

 I'm looking at Florida,  I plan to rent out half the duplex year round, and have my side of the duplex ready for me to live in every winter, and any time that I want a vacation. Any thoughts opinions or advice would be much appreciated.  Thanks!

 Hello @Patrick,  I  am currently looking at a duplex for sale under $200 on Lake Kennedy in Cape Coral Florida.  This lake is fresh water, one of 7 attached by the Chain of Lakes system.  Contact me for further info on the property and area, 

MarZia RiVera, Broker

Lived in Puerto Rico, Rochester, NY, San Diego, and a few other places. It does not snow in Florida (Jacksonville and south. It has snowed in Pensacola,FL). You will have to do some leg work, but it may not have to be just you. Partner up, and keeping asking for a lead to a place. There are diamonds out there. To get the best price though, it may require some muscle and time. You are in the right market using the web. 

You could have bought a condo in San Diego 4 years ago in that price range.  If you are willing to travel 1 hour around San Diego you may get your price.  Florida appears to me to be a good market at this time.  Good Luck

there are plenty of options for you to purchase. They key to this: since you will be occupying part of the unit. What will your average day consist of? I would suggest a tour of the areas. I was just in Cbus for Thanksgiving. I may be moving some capital to there from here because of cash flow margins getting tight here. Let me know if you need some advice without the sales pitch.

Jacksonville has excellent options, I'm offended that Zana is bashing the very city that offers the airport for tourists. I own a duplex in a great Jacksonville area known as San Marco (32207). The values continue to increase, extremely safe neighborhoods, and excellent dining/entertainment in walking distance. Wishing you a successful acquisition, hope my contribution helps!

Regards, 

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