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Need advice about buying and renting in South Florida
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2011 Apr 11, 8:47am 952 views 2 comments
by KP ➕follow (0) 💰tip ignore
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When you say south florida, where do you mean. I'm familiar with alot of the Fort Lauderdale area east of 95. First thing to know is neighborhoods change from street to street, good to bad quickly. Next thing to know is building codes are very strict in Broward County and you have to get building permits for nearly everything. Putting in a new waterheater for example. Putting on a new roof, or changing windows or exterior doors would be others. Grass has to be watered during the dry season or it dies. Good areas command good rents.
Done!
2011 Apr 11, 11:08pm
Oh a man with an original idea. Yeah that will work, will he be an absentee landlord too?
The Gypsy tenants will eat him alive, moving in and not paying rent but working the system, to take 6 months to get them evicted.
Has he noticed nobody is working, how will expect anyone to pay rent, or chose his rental investment house over the ten thousand other rental investment houses?
I am looking for honest advice for my brother about buyiing a few small 3/2 sfh for between $75k-100k in working class areas and renting them. Is it possible to make some decent income off them or would he be just waiting for the market to turn, then sell them to make any decent $? He has about 250 k cash from selling a small biz and good credit. Also is able to do some interior fix up work himself
Thank you in advance for the brutal truth