South Florida Market

[Peter Mayer]

Hello guys, 

I am a brand new member here and I got here via reading Brian's book. Nice to e-meet all of you. :)

I am a newbie in real estate investing and ready to dive in and dive in excited. :)

I live in South Florida, in Boca that is Palm Beach county. 

My questions would be what are the local characteristics when it comes to real estate investing in this region. 

What are the variables you guys are looking at when buying properties: cash flow or appreciation?

Based on my research so far both here in the forums and elsewhere, my feeling is that in South Florida it is harder to find rentals with decent cash flows because of high HOA fees, relative low rents, etc.

Also it is hard to find properties that meet the 2% test Brian is talking about in his book because the real estate prices in this region tend to be higher.

Am I wrong with these search findings? What am I missing? Should we rather look into a different type of real estate investing such as flips to take advantage of the forced appreciation?

Also if you are an experienced investor in the region what are the cities you had the most success in? 

Sorry for the detailed post with many questions, I would just like to get some guidance.

Thank You All!

[Mitchell Jaworski]

@Peter Mayer - not sure who brian is and the book you are referring too, but the 2% rule is great if you live in the midwest maybe.  The 1% rule is more of a reality most other places.  That is what I look for with rentals.  It is not easy to find in PBC of late.  I spent 6 months looking for my latest property and finally found a 1.1% rule.

1% seems to be the absolute minimum though if you want to cash flow with any kind of decent return.