I am a new investor coming to Florida looking to purchase a rental property in the Orlando area. I'm looking at 350k and lower for my first investment, preferably a house hack. Live in one unit and rent out the other. How viable is it to purchase a multifamily currently, and what parts of town should I consider? I've heard the Tampa area is great as well though I'm concerned with flooding. I will be coming this March- early April to meet with like minded individuals and Realtor to better understand the area.
@Max S. you can invest in many parts of Tampa and not worry about flooding. I've lived here my whole life and only a few areas have flooded over that time. The key is find homes in the right flood zone (X) which most of Tampa is. If you need any help, I'm a realtor in Tampa, feel free to reach out.
Hi @Max S., I would be happy to discuss the Orlando market with you. I am a full time Realtor® and investor. I have sold some investment properties in the Tampa market, but I'm not as well versed as Orlando. We generally only have 25-30 multi family properties available in Orlando and they usually go very fast. Tampa has 2-3X that many at any given time.
Reach out and we can talk about what you are looking for and how I can help.
Hey @Max S., house-hacking is definitely the way to go. Good multi-family deals are hard to come by and go quick but they can be found both on and off market.
@Max S. you can invest in many parts of Tampa and not worry about flooding. I've lived here my whole life and only a few areas have flooded over that time. The key is find homes in the right flood zone (X) which most of Tampa is. If you need any help, I'm a realtor in Tampa, feel free to reach out.
thanks everyone for the information, sounds like tampa seems to be a place to look into. I will definitely take a look and reach out to you for assistance!