Goodbye Los Angeles, Hello South Florida... Investor on the move!

[Jon Huber]

So, it is official... I have bought a primary home in Palm Beach County (Boca Raton). I just closed on my third property in South Florida, for a total of 5 units here on the East Coast. This process was a bit different, as I was going FHA (because I can), and I will be able to create instant equity with the amount of work that is needed (and the purchase price). I found the home on the MLS, and negotiated down. The owner was in her 80's and needed to sell quickly, as she had already vacated the property. It was under contract a few times already, each time falling through. Time was of the essence, and I was at the right place, at the right time. I closed rather quickly.

The property was not maintained... at all. The HOA told me that it's required that I paint the house, as when looking down the block it is the ONLY terrible looking house (awesome!!). The bathrooms have not been updated in 30 years. They will be gutted, and I already have my rehab team drawing up plans. The quote I got was below my estimation. He's done all of the work on my other properties, so before the comments start pouring in about "not trusting contractor's quotes"... he's never gone over on any project yet. Always under. I will be posting pics in a rehab success post, as this will be my biggest one to date.

   The rehab time will allow me to get my affairs in order, and pack up everything is Los Angeles. Oh, and for the realtors and investors, I will NOT be selling my Los Angeles property. I have a signed lease for my tenants, and guess what... I'm breaking even! That is a WIN for the Westside of LA, especially Mar Vista. I will miss the basketball in Venice. I won't miss the traffic (although I-95 in Boca Raton is no picnic). I'll miss the tacos. I will not miss the cost of living (and real estate). Lastly, I will miss the regulars at the Los Angeles meetups.

Shout outs: @Kyle Atans, @Evelyn Jordan, @Sean Hurwitz, @Shane W., @Mel Jeffrey, @Aziza Sackett, @Jeff Greenberg, @Joshua McGinnis, @Lee L., @Peggy Liu, @Eyal B., @Manolo D... and everyone else who attends. You all were great to me, and I hope to stay in touch 2,500 miles away. I will always have my property there, so I will at least have to come back when there are issues or renewing leases.

Looking forward to expanding my portfolio, now that I will be living in South Florida. I have big plans... BIG plans.