My husband and I are young professionals and investors in the Boston area. We are looking to move to South FL to be closer to family but we are also looking to invest somewhere in FL. We have several multi-family properties in the area that make a decent return but we know FL is nothing like Boston. Ideally, we want to buy homes/duplex that needs some work to fix it up and rent in FL. I did some research and just like everywhere else its very expensive and the numbers don't seem to work. Can anyone give tips, ideas or share personal experiences?
Much appreciated!! :)
I would not leave Boston for south FL actually
It's going to be tough to find properties to do what you're looking for here in South Florida.
This is not a good market for BRRRR as the price to rent ratios simply don't justify it making sense.
Thanks for your response guys. I am not looking to just invest in south florida. It can be anywhere else in FL... I have heard south west florida is rising and might be good to look into it. Thanks anyways :)
@Luana Mazon what assets are you interested in FL? I would be honored to discuss the SW FL market and the assets there.
@Duriel Taylor I might be interested in purchasing condos.. I appreciate you reaching out. I will contact you as soon as I have a clearer vision of what I'd like to do there. thanks.
OK the first thing you need to do is to separate opinion from fact.
Never EVER let the incompetencies of others set your limits.
Do you know HOW many people told me that CT is brutal? New York Prices bla bla bla..
yet we just bought a house for ... pretty much a gallon of milk (the green house)
And before that we bought a house for 11K with ARV of 183K (60K in repair costs).
And before that a house for 5K ARV 60K
And before that a house for 70K with ARV=350K.
I have students in Florida and Miami that are crushing it.
If HE can do it... why the frogging frog can't YOU!?
Do you think I would pick a place based on how easy it is to make a deal?
NO!! Oh HELL no!
I friggin pick place where I want and I will dominate that place in a matter of months PERIOD.
Don't be a gold fish, be a shark. Don't be a push over, be a force to be reckoned with. Anyone in your way will be destroyed and annihilated without mercy.
Get where you need to be and take over that market. It is THAT simple!
I don't say this to say this, and I don't say it because I WANT to believe this, ...
I say this because it is friggin SO!
Mindset is everything.
I would NEVER say "oh don't go there because it is hard to ..."
Are you friggin KIDDING ME?!
I can and WILL take over ANY market I choose to! And so should/can you (all)!!
I can not STAND that submissive fearful "I can't, so you can't either" attitude!
CHANGE that poop people.. WTF!!
Take a piece of paper and write down the city you want to move to, make your plans to move to that city and you will just have to dominate that city and simply do it.
That is all it takes.
You can do it and you can crush it. I know for a fact you can because my students have already done so. So it has been done before. This is not theory, this is experience!
So make your plans and get it done!
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