Pol county buy and hold

9 Replies

I'm a fairly inexperienced investor looking to break into the Florida market after starting with a few properties in other areas. From what I've gathered it seems like Polk county, and specifically Lakeland, would fit within my price range (125-175 for a 3 bdrm). I'm looking foe help from some "boots on the ground" with narrowing down the areas I should look.

I gathered some data on the Lake Somerset, Lake Bentley, and Lakeland highlands areas, but I would like to narrow down my search a little more to find good communities within those areas. Or if anyone has any suggestions about other places to look in the area, that would be great too.

Originally posted by @Eric Furst:

I'm a fairly inexperienced investor looking to break into the Florida market after starting with a few properties in other areas. From what I've gathered it seems like Polk county, and specifically Lakeland, would fit within my price range (125-175 for a 3 bdrm). I'm looking foe help from some "boots on the ground" with narrowing down the areas I should look.

I gathered some data on the Lake Somerset, Lake Bentley, and Lakeland highlands areas, but I would like to narrow down my search a little more to find good communities within those areas. Or if anyone has any suggestions about other places to look in the area, that would be great too.

Hi Eric,

What type of returns are you looking to obtain from a 125-175k property ? Are you looking for A/B class properties ?

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I am looking for A/B neighborhoods, but if there is nothing of quality within my price range then I will go up a bit. As for returns, I would like to know what to expect, I was looking within 7-8% C on C, with a typical 20% mortgage. But again if that is impossible to find in the area I'll have to rethink things 

Thank you. I use the trulia crime map (along with other resources) to help me narrow my search a little bit. But I would still like some help narrowing down a bit more, and helping me with the actual lines of demarcation between the "good" and "bad" neighborhood. Then once I have concrete places to look I will come down to tour the areas I have settled on.

lakeland is growing very fast, I used to live there and there is even a new water park being built in the city! my wife and i sold our home there in july, it was a 2/2 for aprox 130k so there are deals to be found.