Lake Worth, FL · Member since 2016 · 5 posts · 1 vote
Well, I would like to start with a low invest property buy and hold. I don't want to dive deep but want to start slow. I have been looking at 1 bedroom apartment for $30,000 that would only require around $5000 for rehab. I live in Palm Beach County and I would like to find something to start out with. Any suggestion?
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
8y
@Patrick Satchell You may want to start talking with other investors who've done the same in your area. See what their experience is investing in that price range and investment type. Also, you'll want to make sure there's a market for what you're selling. Figure out who your target market is and see if they're interested in what you have to offer. Good luck!!
Investor · Lake Worth, FL · Member since 2014 · 378 posts · 184 votes
8y
Be wary of condo's in that price range if you intend to rent it out. The HOA usually has restrictions that don't allow renting or that delay when it is allowed. I assume you want to rent it out instead of house hacking due to the 1 bedroom thinking. If the numbers work and it cash flows it might be worth a look. Personally I don't do less than 2 bedroom units because most people want at least that. Let us know your thoughts and we will give our 2 cents opinion to you. All the best.
Lake Worth, FL · Member since 2016 · 5 posts · 1 vote
8y
Hi Charlie,
yes, I do want to rent it out. You are right I do see that issue as I am looking. I think I might take the two bed room into consideration. In this way I will have more opportunity to rent it out to a family. I will definitely as you all for your opinions as I go along. I know I will need it.