Just starting out and have a finance question

4 Replies

Hi all,

I'm a newbie here. First post so please be gentle :)

I'm currently located in Australia (an Australian national) and will be moving to Manhattan for work in March. It's my second time living in the US. So the transition moving from Australia to NYC should be much easier this time around, albeit with two children.

A quick question to investors. I am looking to for an investment property ideally in Charlotte, Tampa or Orlando. My main question is out of those 3, what would be the best option? Budget range is in the vicinity of 150 - 200k and not fussed on property type. Slightly leaning towards single family dwelling but can be swayed with the right data.

I've lived in Sarasota,FL and wasn't overly impressed by the market there and given my Australian heritage, I'm a little over the whole coastal/retirement villages for the snowbirds. That could also be my ignorance of the town and how lucrative the rental market is in the panhandle but I guess I'm looking for more urban with a touch of coastal. I have heard good things about Charlotte but it sounds like the market is now on the wrong end of the bell curve. Sound right? Any other areas I should be focusing on?

Open to any feedback and keen to learn from all of you. 

Thanks in advance and all the best with your 2019 investment dreams!

Hello Sean,

I'm not sure how long it's been since you last visited Sarasota, but the area has boomed lately. Tons of new shopping developments and residential builds. It's definitely gone high-end, and $150-$200k won't get you much there anymore. I personally live/invest in Tampa. That budget will get you a great SFR around here, depending on where you look. Tampa Heights is an excellent option (though getting pricier all the time) and the surrounds of Old Seminole Heights are worth looking into. Multi Family is still very hot here and the properties you'll find in that price range are C or D level duplexes. If you're up for some work there are still good opportunities to be had. I've never lived in Orlando (only been there a thousand times) but it seems like there is a non-stop flow of new vacation rentals and timeshares. Too much competition from my point of view. Never been to Charlotte so I can't comment on that one.

I hope you consider Tampa; it's a great place to live and still seems to be on the upswing!

Jonathan

@Jonathan Henley I was in Florida approximately 4 years ago so things would have changed. I spent a lot of time around St Petes and found the area around St Armand circle quaint. So are you suggesting Tampa is on the up or is it now saturated with buyers and a sellers market? Appreciate the info.

@Sean De Fry Orlando year over year has seen very strong job growth, population growth, and property appreciation. You can find some good properties in and around the city still with your budget. Tampa & Charlotte are also strong markets, I'd suggest taking deeper dive into available inventory in and around each market for starters. Then look more deeply into rental rates for each, how taxes, hoa's and insurance differ etc. to get a better understanding of where your dollars can go the furtherest.

Heres an article from Forbes for last year but still very relevant. 

https://www.forbes.com/sites/samanthasharf/2018/02...

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