Thoughts on Florida Investing

[Tom Steffy]

Who has any advice on insight into the Florida rental market? I understand it is the next big boom for builders and investors.

[Mark Albini]

I have a few investors that were in the Florida VRBO market that has since sold their rentals there and moved to where I am at, Evansville Indiana, the problem was the cost of acquisition, not allowing them to diversify in too many properties, and the turnover there.

[Nina Ibrahimbegovic]

@Tom Steffy

I’m a realtor in Florida and investor. The Florida market where I am is hot!

[Nina Ibrahimbegovic]

@Mark Albini

Why did they sell the VRBOs ?

[Mark Albini]

Originally posted by @Nina Ibrahimbegovic:

@Mark Albini

Why did they sell the VRBOs ?

 Cost of acquisition and the inability to diversify. 

[Chris T.]

Hi Tom, I'm also following. Looking for our next property to have a vacation aspect to it. Been browsing Flordia a lot and talking to a friend born and raised there for some advice 

With that said, I will note during browsing listings that some properties mentioned the 'Taxes paid' included the homestead exemption, which is for those permanent FL residents only, which should probably be accounted for in your analysis. 

I was also curious about insurance, but haven't run any scenarios yet. Specifically for properties on the coast that might be more susceptible to flooding/storms/hurricanes/wind damage etc. May not be that bad, I just haven't gotten to it yet but would definitel be on my checklist prior to submitting any offer.