Hi guys, I'm new to the platform and I wanted to introduce myself. I bought my first home 5 years ago and it has appreciated a lot in the last few years. I just recently took advantage of the low interest rates and refinanced it taking some of the equity out to invest it in a new deal. However I can't seem to find a good COC return in Miami. Can anyone let me know what's a good market to look into? And what's a reasonable COC return on investment in today's market?
Miami is going to be tough right now. You can probably take your equity and drop it into multiple options in a town like Lakeland, which is getting very hot right now. Many undersung areas in FL are predicted to do well in 2021, but I see Lakeland more than others lately and have an investor who just bought there. I lived in Ft. Laud for 7 yrs and Sarasota for 7 yrs and I still think Sarasota has legs for flips and Airbnb.
Thank you so much Jonathan. best of luck to you.
Hello Yanelis, yes the major metro markets in FL are really hard to find good deals in currently. But other smaller areas have a lot of room for potential, Cape Coral / Lakeland / New Port Richey / Cocoa Beach etc are some places I have been looking into lately.
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