New Member from Ocala, Florida
I currently am buying and holding single family homes in the Ocala (Marion County) and Levy County, Florida areas. Originally I had rental properties in Tampa, but sold my home and all my rentals and moved to Ocala. It's a small town just south of Gainesville (Univ. of Florida) and has a very strong rental market with people constantly posting on Facebook sites looking for any rentals in this area. I buy foreclosed and trashed properties and enjoy fixing them up and usually have a waiting list of renters, so I can pick and choose from the best. Ocala just added a Fed Ex distribution center and we are located close to the Gulf of Mexico and about an hour from Daytona Beach (and a little over an hour from Orlando and Tampa). Single family homes have been going up in price, and it's getting harder to find a super cheap bargain - usually with a lot of cosmetic repairs needed. Since I have been doing the buy and hold for over 30 years, it's easy for me and a great way to make income and minimize taxes with the depreciation. I tried a couple of sales with me holding the mortgage - NEVER again! I work with a couple of local realtors, and also buy from Tranzon, Hubzu, Homepath, and others. The hardest part for me was finding the right people to do rehab and repairs, then I spend my time making friends with most of the employees and managers at Home Depot and Lowes to get a heads up on closeouts and bargains.
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