Is Florida a good market ?

[Lilach A.]

Hi!

I’m new to the community and would appreciate any advice ,

I’m interested in entering the real estate investment market , I have to say It’s a little scary. I listens to David’s podcast last night .

My questions are :

, I’m thinking of buying in Boca Raton Florida, is it the right/wrong market to go in now since the prices are rising.

I did buy in 2013 a townhouse and I’m currently renting it , I would make a pretty good profit if I’ll sell today but now ready to do it yet. ( I kinda grew attached to it as a second home, is it wrong, lol)

The other question is when buying a real estate investment does it have to be rehab or I can buy a renovated one already,

Lots more questions but I’ll leave it for next time.

Thank you !!

[Gregg Cohen]

@Lilach A. - Congrats for jumping in the game.  I invest in the Jacksonville, FL market and love it for positive cash flow and above-average home price appreciation.  Here's what I would do when search for the ideal market:

1. Find markets that have a median home price below the US median (Use the MLS in your local market, US median = $325k)

2. Make sure those markets have median gross rents above the US median (Use US census, US median = $1,062)

3. Make sure those markets have above avg appreciation since 1991 (Use www.fhfa.gov to check your market, US average is roughly 3.6%)

For comparison sake, here's how Jacksonville ranks: 27% below on home prices, .3% above on rents and 19% higher home price appreciation.  Check it out for Boca and other markets that you may be considering!