I'm active in the investment real estate community down here in Tampa Bay. Looking to hear other investors thoughts on investing in this area/ experiences as of late. Also, interested in where else people are investing with success in Florida.
A few questions I'd like to ask:
1. What areas are you actively investing in/interested in, and why?
2. How are you finding these deals?
3. Have you had a hard time finding deals?
4. Are the numbers there for rentals/fix and flips? What kinds of returns are people seeing around the State?
Hope to hear some great feedback BP Community!
I've been actively looking for deals in Palm Beach County for several months now with zero luck.
Prices are ridiculously inflated and competition is extreme from other investors and also hedge funds.
I'm just sitting tight and waiting for real deals at the moment rather than overpaying like everyone else.
I hear you Mike. Prices are high because it is a sellers market in my opinion. Great if you have inventory to sell but not so good if you are looking for deals. Certainly not good for cash flow on rentals unless you have them to rent. I see negative cash flow if you are buying but hopefully they will improve over time. It feels a bit like 2005 to me with the inflated prices and people are trying to cash in. I am looking a bit north from Lake Worth as it seems you get more for you money there. Hope to be re-locating there and will sell my residence here or rent it for the cash flow. My advice is to adapt and overcome meaning go where the money is and ride it out. Not sure what the political climate will bring about but it looks a bit Leary. Best of luck and what ever you do don't give up. At the moment I think my best target is property that needs work and force the equity into my bank account. Just my two cents.
@Charlie DiLisio good to see you are still grinding! I just sold one of my FL rentals and plan on selling another come the new year. Booking those profits and placing them out of state. Have been looking in SC.
We are still doing the meetups, grown quite a bit 25+ people every month. Hope all is well.
Thanks for reaching out Mitchell. I would have liked to attend the monthly meetups but I only work on Saturday and Sunday for 12 hour days. Off all week.. lol .. How do you think the hurricane will affect the market in S.C.? Wishing you the best and hanging in here for now. Looking into Pt. St. Lucie to move my operation up there.