Investor · Tampa · Member since 2018 · 289 posts · 107 votes
I am Keleisha Carter and I’m in the process of starting my career in Real Estate Investing in Florida. Interested in meeting other investors in the area and seeking any form of advise for a newbie
@Susan O., it is imperative to remember that real estate is local. And local can be as specific as inter-city. Florida is large...Key West to Pensacola is easily 12 hours. So generalizing on rents likely won't yield the answer(s) you seek. Multi-family trends is not unique to FL; IMO, if the multi-family numbers work, it's a buy. If not, move to the next.
Lastly, while Palm Beach County is considered "South Florida", WPB is much more affordable than most other places. A $100k condo is not unheard of - even lower priced can easily be found. But down in Broward and Dade, $100k buys you a lower-end place (the area boasts many 7-figure and even a few 8-figure units). Do you need 6-10% yearly rent increase to make it as an investor? You make your money when you buy so as long as you are cash flow positive and you can increase rent by the rate of inflation, you should still do alright. My 0.017 Euros.
Im Harley. I am also a newbie in Real Estate Investing but I would love to connect with you to keep in touch as we grow in this business. I am located in Sarasota Florida.
I have started a few websites and I am in the process of constructing my marketing plans to get leads.
I hope you the best of luck and if you have any questions on starting off I would love to help you to the best of my ability.
Welcome to Bigger Pockets! Enjoy and take advantage of all the great content here. I am an investor in Fort Myers. Please feel free to reach out if you ever want to connect.
I've h eard rents are flat lining in places like florida, texas etc. There's alot of building going on and the 6-10% rent raises aren't occuring. This seems to be beginning of flatline or maybe decline. WHat do you all think of multifamily trends for 2019-2021?
Kelisha what have you seen in West palm beach and south florida for rents and prices?
Seems like the apartments are still priced high like $100-$160k per unit!!!!
@Susan O., it is imperative to remember that real estate is local. And local can be as specific as inter-city. Florida is large...Key West to Pensacola is easily 12 hours. So generalizing on rents likely won't yield the answer(s) you seek. Multi-family trends is not unique to FL; IMO, if the multi-family numbers work, it's a buy. If not, move to the next.
Lastly, while Palm Beach County is considered "South Florida", WPB is much more affordable than most other places. A $100k condo is not unheard of - even lower priced can easily be found. But down in Broward and Dade, $100k buys you a lower-end place (the area boasts many 7-figure and even a few 8-figure units). Do you need 6-10% yearly rent increase to make it as an investor? You make your money when you buy so as long as you are cash flow positive and you can increase rent by the rate of inflation, you should still do alright. My 0.017 Euros.
Welcome to the business here in Florida! There's a lot of competition out there but I am sure you'll do amazing things! I'm an investor in the South Florida area, and it's been the best decision I have made in my life! What are your investment plans if I may ask?
I too am starting my real estate investing business as a wholesaler. I am in the Tampa market, but would like to extend the lease that I generate to you in hopes of being an asset to your business. Feeling free to contact me directly anytime.
Welcome fellow Fl investors! I'm up in Jacksonville where things have been slowing down from the last 4 years of craziness. Would love to stay in touch as you develop connections in your local markets. I haven't explored much in the Southern Florida or Tampa areas but there is certainly deals out there. As others have said, competition is high but that just means more unique prospecting and evaluating more properties before finding the right one.
As far as competition goes, I've seen more groups coming in that are willing to make less per deal and drive profits strictly from the quantity side. Makes it more difficult for the smaller investor who is looking for that home run on one or two deals a year.
Hello fellow new investors, I too have recently started investing and have done 1 flip this past year and am looking for a house hack for my next project. I hope to do 3-4 additional projects within the next year. If there’s ever a meetup in the Tampa Bay Area, I’d love to swap stories and meet some other investors in the area.