South Florida Markets?

Question

Currently in the early stages of looking for a market to focus in and would love to invest in-state (Miami resident). Are there any markets you guys would consider worth looking into? I see a lot of talk surrounding Jacksonville - any others that would be worthwhile?

David Sicherman · Answer

I think your system has wishful thinking lol for West Palm Beach!

Brian Garrett · Answer

Your "system" is showing lots of undervalue deals in West Palm Beach? Mind sharing an example or two?

Account Closed · Answer

Hello @Erik H. can you add me to your lists ?

I have buyers for those areas if numbers make sense.

Thanks

Mitchell Jaworski · Answer

@Glenn Gurvitch I own properties in Palm Springs and West Boynton.  In palm springs you can definitely get the numbers you mentioned, but need to be wary of ones with HOAs then the numbers don't really work unless one is willing to self manage.

We have plenty of people from California and overseas buying here so these prices seem like a jackpot to them, keeps demand going for now.  I've been looking out of state past year and booking profits on some of my units here.  Owned too much in HOA communities, needed some diversification from that.

Glenn Gurvitch · Answer

Palm Beach County has several good areas to invest in. Our main iinvestment type  is in the class c multifamilly asset type. Mostly single story 2 and 3  bedroom units that rent for $1200 to $1400 per month.  We try and stay  away from rough areas like parts or Riviera Beach, Belle Glade, east  Boynton Beach, Lantana etc. Our investors have been purchasing apartment  complexes and single family units in Lake Worth, Palm Springs and  Greenacres for 110K to 130K per unit that rent for around $1300 per  month.

Our company manages over 500 apartments and single family homes in this area and most of investors continue to purchase so I feel like this area is a good buy and hold location but I was wondering how the BP members view this sub market? Any thoughts?

Brian Garrett · Answer

What metrics is your system using to determine if a deal has potential?

More specifically what makes you feel the 2 addresses you provided are good buys?

David Sicherman · Answer

I wouldn't touch at that price, but I'm not buying retail for "potential".

Erik H. · Answer

Hey David,

I guess it depends what each investor is wishing for.  Properties like 845 High St, West Palm Beach, FL 33405 have turn key rental potential and upgrades in 2013.

Erik H. · Answer

Hey @Maykol Au,

Our system is showing lots of hits for good investments in Jacksonville, Orlando, and West Palm Beach.  Lots of undervalue deals and hidden potential.

Happy Hunting

South Florida Markets?

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