Investing in condos in south florida

13 Replies

Need to know the best places for a cash investor to keep the property and rent it out.  In Deerfield pompano beach, coconut creek, coral 

Have you thought about out of state?

what about Lauderhill condo? recently purchased a One bedroom condo for 49000$ and it cash flows nicely

@Rita Ayala I know some condo HOAs don't allow renting or have restrictions on that is something you'll want to check. I have family in South FL , in Fort Lauderdale right near Pompano Beach. 

Why not look into small multi families like 2-4 unit buildings? Then you dont have any of the restrictions. 

Renting out to Airbnb renters seems like it could be pretty profitable especially in the busy season.

@Lior Reich , I know prices in Lauderhill are pretty low last time I checked, just wondering the numbers on the condo. 

Rent, HOA fee, etc . Thanks.

@Joseph M.

monthly figures:

HOA - 300$

Tax - 80$

Insurance - 45$

Rent -1000$

@Lior Reich , nice . I know many investors don't like condos but I can see them being good in the right situation especially if investing from out of state as they are less maintenance and work versus houses.

@Joseph M. you are correct! I will take a risk here saying that I never failed with any condo Investment (vs Houses.... where i had my many many failures) I ever did. Started purchasing condo units in 2008 in San Diego, all double in prices by 2014, exactly like houses in San Diego. ever since, I strongly believe that buying a condo in a decent location can never go wrong, yes HOA fees, yes HOA can cause issues.. I try to inspect those issues as much as possible during my due diligence.

I am actually under contract NOW for another condo in Lauderdale Lakes, even better numbers and better appearance - for 50K. rehab+closing another 2k

@Lior Reich yeah it depends on the city/area of course like you said. 

Condos are popular in South Florida..but maybe not as much in some parts of the country. 

Lot's of senior citizens of course that come to Florida to retire..and many of them don't want to deal with the hassles of maintaining a single family home.

The area still seems very affordable compared to many parts of the country.

@Lior Reich great job on those numbers man. I live in Broward County. and just getting started Are you currently living in Florida? Your profile stated Israel.

Awesome man.

Originally posted by @Lior Reich :

@Jerry Cinor 

you are correct I live in Israel:-)

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