There is demand all throughout south Florida. The question becomes how much do you want to spend on a property and how much can you rent it for. There are certainly more affluent areas where you can get a lot more monthly in rent; although the cost of entry (purchase price) may be higher. You also need to factor in property taxes which vary by city as well as if there is an association you need to pay or not.
If you require assistance locating and purchasing am investment property please fell free to contact us at 561-771-4457 or info@HKRealtyFL.com... more
There should be lots. You would do well retaining an agent who can scour the MLS and find all of the properties in those areas and generate a list for you. You should also have a good real estate lswyer handy to review everything for you.
Disclaimer: I am a Florida attorney and licensed Realtor. Information posted or made available on or through this site is not intended as legal advice or to create an attorney-client relationship between you and any attorney/our firm until officially retained. You should consult an attorney for advice regarding your individual situation since every case is different and not all information is relayed in an online question.... more
Well, cash is certainly the best option, if you are buying a home and I guess when you have the power of cash, there’s no need of a real estate agent or an attorney to come in with his or her complex advice.... more
Question: is that the amount you wish to pay cash for a rental property or the amount you are pre-approved to purchase?
Either way, you need to look at stepping up a bit into the 300k range on better appreciating properties and ease of renting to families, who are looking for longer term rentals than 12 months.
WE ARE IN A STRONG RENTAL PROPERTY MARKET where landlords are asking and getting Top Dollar for rents!
Many potential renters have gone thru a BK, FC or Short Sale, who are trying to Re-Establish Credit and either:
A. don't know they can actually purchase a home again so soon.
B. prefer to rent
C. are just better off renting for the next 5 yrs.
But most want to be in the 300k to 500k range rental home and Much More likely to take care of your investment.
With rental property purchase loans available at 85% LTV or Stated Income ALT rental property purchase loans at 75%, you may want to look info your options before you sink too much money into DEAD EQUITY during this great time to purchase!
Google search Stated Income ALT loan programs for Florida and check out your options... more
Im a Canadian living in Florida for the last 16 years. Originally from Toronto, Ontario where I lived for 3o something years.
If you know any Canadians that are looking to buy a piece of sunshine
please send them my way.
Where in Canada are you from?
Sorry Cant help with your situation.
Blue to Green Realty, from the sea to the 18th tee
Serving Florida Real Estate since 2000
Would suggest contacting 2 or 3 local real estate agents in that area that list/sell properties for investors and ask them your question. All markets are local, and there are markets within the markets - such as price points, neighborhoods, etc. A local agent who is familiar with the flipping market would be better suited for giving you specific advice.... more
I have a company Snowbird Condo Services
We live nearby in Ft Lauderdale and can watch your small house.
We are not a large firm... just an honest couple for quality service.
It is possible... just know that you get what you pay for. You are able to find a property (condo, TH) in Fort Lauderdale or surrounding cities for this price range. Keep in mind that it will not be in a prime area and most likely in bad condition. Be sure to confirm you can rent the property right away, if it is located inside a community. I have a condo in Lauderhill listed for $38,500 for instance.There are no rental restrictions, but it is not in good shape. It depends on what you are looking for... and always keeping realistic expectations. Good luck!... more