Alexform2005, Home Buyer in West Palm Beach, FL

I want to buy an investment condo in West Palm Beach County - how do I determine where the best location is to get long term renters of good standing

Asked by Alexform2005, West Palm Beach, FL Fri Feb 17, 2012

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I need townhouse or condo two or three room and two full bath in good area in west palm beach no more than fifty thousand dollar cash
0 votes Thank Flag Link Wed Mar 5, 2014
Good Afternoon,

I wish there were a way to answer that question. There are some areas that tend to have better tenants than others, but each tenant has to be considered based on their rental history, credit report and landlord references. I would recommend that you focus your efforts on finding the right unit in a high-demand area, as well as the right tenant, rather than focusing on finding an area that has good renters. Remember though, it only takes one word to turn a good tenant into a bad tenant: fired!
0 votes Thank Flag Link Tue Mar 4, 2014
25 year Palm Beach County Resident -

You have questions I have answers...

561.306.7653 Gary Youngman
Web Reference: http://www.garyyoungman.com
0 votes Thank Flag Link Tue Dec 3, 2013
i need to buy land in west palm beach
0 votes Thank Flag Link Wed Nov 13, 2013
Hi Alex.
Before answering your question, I would like to clarify that West Palm Beach is a city (not a county) located in Palm Beach County.

There is a good selection of properties in Palm Beach County for you to choose from. but there are also other factors you should consider before making your decision for example, locations close to the beach are expensive and will limit the number of prospective tenants to only those who can afford it where locations close to downtown west palm or delray beach are reasonably priced and can be rented to tenets who enjoy the restaurants and the night life or employees who work at those establishments. I personally like a number of communities close to universities where the tenants usually stay for 4 years. I also know a list of communities within the boundaries of great schools which attract families with children.

if you are interested in hearing more about those locations, feel free to call or email me.

John Abdelsayed
Broker
Trends Realty
561-900-5200
john@trendsrealty.com
Web Reference: http://www.trendsrealty.com
0 votes Thank Flag Link Sun Feb 19, 2012
You need to go directly to an agent who knows the local markets, understands investors, cap rates, returns, and risks, and can help manage the entire process for you. Contact me to discuss.
0 votes Thank Flag Link Sat Feb 18, 2012
Hi Alex,

I help many out-of-town investors in downtoen West Palm Beach and Palm Beach with this same scenario, then through the process of finding the right property, negotiating and closing, rehab (if necessary) and then getting that poroperty rented out for them again ASAP. If you're local, you can be much more hands-on. My office in in Palm Beach. You can reach me at Clayh@goldenbearhomes.com.
0 votes Thank Flag Link Sat Feb 18, 2012
Hi Alex. That's a great question because although prices are great for buyers if you're looking to buy an investment property your interest in the property is quite different from someone who wants to live there. I would choose an area that's consider fun and exciting and near the beach, restaurants and stores. City Place offers that and there are several condos from which to choose. I helped an investor find one that already had a tenant in place.

Please let me know if I can be of help to you.

Sincerely,
Nicole Marks Mason, Realtor
561-445-8743
http://www.buysellboca.com
Web Reference: http://www.BuySellBoca.com
0 votes Thank Flag Link Fri Feb 17, 2012
0 votes Thank Flag Link Fri Feb 17, 2012
First I would need to know what you want to spend on the investment and what you expect as return on your investment. Then I can answer your question more intelligent.
You can call me at 561.339.7003 or email at anton@antonseiss.com
Best regards,
Web Reference: http://seissrealestate.com
0 votes Thank Flag Link Fri Feb 17, 2012
Alex,

Investors have been flocking to the area for two years now and that trend will continue as the cash on cash returns are excellent. Many clamor over the low priced foreclosures in less than stellar locations where there is a higher chance of tenant and association issues and potential appreciation may not be as good as other areas. There are some great deals that will provide solid 7%+/- returns in my opinion are your best bets but so much depends on how much you are interested in investing, how much work you want to do after the purchase and your tolerance for risk.

I send out periodic investment picks to my investors and if you would like to be included on these mailings please feel free to contact me at your convenience. We dig into the metrics surrounding each community in these mailings so they are great information for those looking for the right opportunities.

I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
Web Reference: http://www.tompriester.com
0 votes Thank Flag Link Fri Feb 17, 2012
I am a realtor/landlord that specializes ONLY in residential rental condos in Palm Beach and Martin Counties. I have owned 20 rentals in this area for the last 10 years and I know what to buy and where to buy. You have to be very careful what community you buy based on COA Rules toward rental units. You have to be very careful where you buy to realize positve cash flow and appreciation. You have to buy in safe neighborhoods close to job centers and good schools. Also be sure to do your due diligence of COA/HOA budgets to assure that they don't have massive bad debt issues with delinquent unit owners.

My company is Income Property Management and I only work with investors wanting a good passive steady cash flow with residential rentals. Besides helping you find the right property, I can also offer landlord services including finding the right tenant and then providing current tenant management services including collecting the rent, handling service calls, etc.

I have been a landlord for 10 years, have seen it, done it all when it comes to residential rental investment properties. I work with investors just like you to find the best rentals properties in Pal If interested in talking more, call me at 561-301-3742 or email at pat@incomepm.com
0 votes Thank Flag Link Fri Feb 17, 2012
Well I am not familiar with the West Palm Beach area, but I will tell you that I am finding a lot of investors buying up all these water front condos in Punta Gorda (rated 5th best place to retire to) and Englewood area tokeep up and rent out to the snow birds that are always coming down. There are plenty of property management companies down here that will help manage your property and get you the best price and renter. I have a few numbers to individuals if you were interested.
0 votes Thank Flag Link Fri Feb 17, 2012
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