Buying First Rental Property

[Amy Dan]

Hi, everyone. I am Amy. I and my husband Ray live in Broward County, South Florida. We are looking to buy our first rental property. The house price down here has already climbed a lot. But we do see some condos are cheaper in the 55+ community. As long as the neighborhood is fine, is it good to invest in those 55+ communities? Thanks.

[David Collier Jr]

$299k full ask site unseen lol. Ive been analyzing properties enough to know numbers made sense. Everything in this area that is a decent neighborhood to live in is $300k+. $250k maybe smaller duplex such as two 1/1s. A property the same size as the one I'm closing on just listed for $389k down the street (granted its a list price not a closed sale price). Another one just closed for $330k (3/2 x2). 

Smaller duplex at $250k west of US1 isn't unheard of. You can also consider the Oakland biz district by the brewery Funky Buddha. Very up and coming area. Can find duplexes that need work in that area and its not a bad place to live at all (Oakland Park just W of dixie N of Oakland Park Blvd).