In My Neighborhood in 32601>Question Details

Perry Hollow…, Home Buyer in Outside U.S.

Looking to buy a condo/townhome/apt in Gainesville to rent out. Will be paying cash. Is it better to be near U Fl, Shands, or North FL Regional?

Asked by Perry Holloway, Outside U.S. Sat Jul 9, 2011

Medical Center. What can I expect for rent in these areas for a two bed, two bath property,

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Answers

6
Hey Perry,
You may have already received your answer, but I will give you may opinion anyway!

If you own rental property near the University, you can count on renting to students, grads and undergrad, and living by the college calendar. Each May, you will have move-outs and each July and August you will be showing the property. But it's a steady stream of tenants. You may also deal with repairs cost slightly higher than normal, as students tend to ... well you know.

You do have other choices. Single-family homes are incredibly cheap in Gainesville right now and do command good rents, which of course will give you high CAP rates and positive monthly cash flow.

I work with investors and calculate those numbers for you on every property that catches your eye. I also search the listings to find those good income properties that may be off the beaten path, but will be money makes none the less.

Give me a call if you still need some help. 352-871-5354 and I will be happy to share with you my system to find good investments in one of the best places in the country to make money in real estate.

Take care
Julie Cole
Broker and Vice President of Prudential Trend Realty
https://www.facebook.com/BrokerJulieCole
0 votes Thank Flag Link Wed Aug 24, 2011
Great question... as you may have read that Gainesville is the #3 in the country now for investments ..Tallahasse is #5 we beat them..(LOL) I've seen 4 bed 4 bath condos by the U of F selling for as low as $70,000....and that would be a positive cash flow..i you have any other questions please feel free to call me at 352-317-7700...have a wonderful day... Darlene Pifalo
0 votes Thank Flag Link Sun Jul 10, 2011
I have several rentals myself. As long as you are within a few miles of UF you will be fine. All the hospitals are within that same area. From year to year you will get either students or non student tenants. The closer to UF the more the tenants will be students of course but non students don't always like to be near student housing. I feel it is best to get into a neighborhood that is mixed, that way you don't eliminate anyone.
Web Reference: http://www.we-promise.com
0 votes Thank Flag Link Sun Jul 10, 2011
Being nearer the hospitals will usually give you longer term tenants, perhaps older, perhaps families. Near the UF generally you will get more student tenants which generally yields higher rents, but shorter rent periods and many times more repair (tear up) issues. Call if I can help. I own and manage rentals in both areas.

Bob Mitchell 352-538-9951
0 votes Thank Flag Link Sun Jul 10, 2011
Hi Perry,

Gainesville is a great place to be and there are a lot of great opportunities for investors here. Email me at nickreed@bosshardtrealty.com and I will send you some stats.

Have a great weekend!

Nick Reed
0 votes Thank Flag Link Sat Jul 9, 2011
352-538-7756 brian cohen pa call me for all the answers i have been here since 1979
0 votes Thank Flag Link Sat Jul 9, 2011
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