I'm trying to decide which market to house hack right now. I'm not from the state, so I don't really know the amenities or pros/cons of north vs. south Florida. Potentially looking to rent individual bedrooms assuming that 3-4 multi-families are harder to find. I think getting in on the ground floor of an expensive market would help me build up that "financial runway" faster, as I could charge more per bedroom for rent. I'm also assuming that a touristy market would also be more prevalent in South/Southeast FL.
I saw Dave Myers wrote a piece that featured Hileah as a cash flowing market, compare Port Lucie, Ft. Lauderdale, or even the Bay Area to something of N. Florida's, Jacksonville you might be hard pressed to find an equitable return up there, if that sounds about right?
I used Navy Federal. Quick and easy.
There is a huge market down here for house hacking @Dean Colias
Hialeah is a very high demand area (as most areas in SoFlo are). You'll have to have to touch up on your Español if you move there.
In my opinion you can target Fort Lauderdale down to Miami for a HH. Whether you rent out rooms individually in a SFH or buy a multi-family property, you can def make it work.
@Dean Colias I'd be happy to help you out. Just got a veteran a 2.25% rate with $2,000 lender credit towards closing costs.
@Raymond J. Rodrigues that's pretty low! How bad to pre-approval ding you? Are they a local mortgage lender?
@Shawnette Pankey I've had great experience with NFCU in the past. They undercut my auto loans last year from many others
@Dean Colias I am the local lender. Generally when you get pre-approved, your scores fall about 3 points per bureau based on the FICO scoring model.
@Timothy Lewis Español es un poquito, lo siento pero puedo hacer mejor!
@Raymond J. Rodrigues which Fico score is used? Do you need PoF?
@Dean Colias send me a private message.