WEST PALM BEACH MARKET

[Santiago Ortega]

Hello! Anyone has the knowledge of what kind of properties are working good right now in West Palm beach and around? 

Multi family, commercial, condos, single families…? 

I’m looking for a fix and flip rather than flip and keep 

Thank you! 

[Kyle Funnell]

Hello @Santiago Ortega,

I am an investor and realtor in Palm Beach County. West Palm Beach is a very attractive market right now. However, much like the rest of the country, the market is very competitive and margins are getting tighter and tighter (especially in the fix and flip market). You should expect to be in competition with many buyers regardless of what type you are looking for. 

I would recommend SFH or Condo. However, SFH is very competitive. You will be able to find one but you will have to do some competing. Also not sure on your financing, but many of the buyers I have buying in West Palm are up against cash offers with $50k over asking. I always recommend looking at long term listings first as they may be less competitive. (Only downside is if they are on the market for over 30 days, they are overpriced or something is wrong with them) Condo is probably your best bet but you have to be mindful of Condo Maintenance fees as they could get very high quickly. (with some in the $1000's/month). Also make sure to ask when construction hours are as many condos have limited hours you can work on the unit which will ultimately delay your turn around.

I would actually recommend a buy and hold in West Palm Beach because it is being referred to as "Wall Street South." Big corporations are moving their offices to west palm beach, which will give a favorable appreciation. You can already see it in some of the condo buildings in downtown West Palm increasing over 30% in 2021.