Looking at an investment/flip opportunity in Florida, Port St Lucie and Vera Beach area. Hoping this is a market which will continue to florish or grow. Can anyone share your insights and thoughts. This will be my first investment opportunity so need all the guidance and advise I can get. Thanks.
@Michelle Clark If this is your first property I would advise you to invest in your market. Grass isn't always greener. Atlanta is a great market and should be easy for you to understand. Remember acres of diamonds.
@Michelle Clark I’m in the area would be happy to chat
@Greg Dickerson thanks I am also looking at my local market, yes. I should have mentioned my sons live down there and we will be going into this together.
@Martin Elkins that would be great, just sent you a connect request.
My father invested in Port St. Lucie around 2011, it’s a great bustling city and the properties he purchased were in foreclosure, so decent rent, and he has made his money almost 2 times over from His initial investment in terms of the homes current value.
I still think it’s a good place to invest, but as it’s a much stronger market out there with a lot of construction in the area, I don’t think you would find as great of results as my father did.
@Mischael Metelus I am new to Florida market and I have a question about the over $4000 tax, the contractor who is working for me in pa, he used to live in psl for 20 years and his family are still down there. We saw a great deal so if I buy it possibly I will rent it out to his family member, my question is the over $4000 tax per year, so all the out of state are paying the high tax which will cut off all the cash flow, and what do they go?
I do t think the tax is over 4K, though it may have become that. Mind you my main home is in NJ, so even a 4K tax is reasonable to me.
But homes in st Lucie rent for 1600+ so I don’t think it’s a detriment to the cash flow
@Mischael Metelus thank you