If you do not mind sharing, what cities near Miami are you all targeting for cash flow properties.
I have a property in Miami and I am familiar with most of Dade-County and some of Broward County. I am developing my investment plan and my focus will continue to be Miami, but I am interested in finding cities 1-3 hours away where multis and single family homes cash flow nicely.
For example, I understand that Chicago investors have targeted Milwaukee (1.5 hrs away) for cash flow properties because purchase prices where 1/3 and rents were comparably higher.
Also, what are the issues in those locations. For example, it may be difficult to find a management company or a handy man to perform repairs in Lakeworth. Also, if X location is cash flowing nicely, but everyone in the town works for one company that is a non-real estate risk that I would like to be aware of.
So what are your thoughts on cities like Ft. Myers, Naples, St. Petersburg, Boca, etc.
We all understand that there are good deals everywhere, but this post is intended draw out neighborhoods and cities where it is relatively easy to identify good cash flow properties and the issues associated with those locations.
I invest in St. Pete. Lots of competition. Cash flow can be good on rentals when you can get your hands on one.
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