Housing costs in Melbourne, Florida

[Nicole A.]

Happy new year, BP members!

Who is familiar with Melbourne, Florida? Does it seem like property prices are somewhat high? For example, I did a quick search for SFHs under $225K and only a handful of results came back in the Melbourne/Palm Bay area. A wide-parameter search like that would bring up tons of results in the Brandon, FL area.

Curious to hear other's findings on this area who currently live or invest there.

[Priscilla Z.]

@Nicole A. - Hey!  A little late on replying but better late than never right?  I'll be your case study and you tell me if Melbourne/Palm Bay is good or not....

In the last 6 months I have bought 4 homes in Palm Bay/Melbourne area. Two of them I put in my lease option program, the other is rented, and the last one I just finished getting it ready for the MLS or my lease option program.

A few other homes in our rent to own portfolio became vacant and we were able to place new tenant buyers in them in less than a month.

Those 4 homes I bought in the last 6 months have been with very little marketing.  As @Dwayne Byrd said, you can still find deals here, you just have to be willing do a little digging in the dirt to find the gold.

Hope this helps and let me know if you decide to invest in this area and I'll put you on my list since sometimes I just wholesale houses off to other people if I have too much going on.  There's more than enough for all of us :)