Fl multifamilies - where to start?

[David Paez]

Hello All, I'm looking to invest in multifamily property in FL. I have a few multifamilies in MA but want to try the FL market, any suggestions? where to focus? what price point/cap rate to expect? I greatly appreciated! Thank you

[Nicole Marshall]

There's not a lot for sale on the MLS, but Brevard county is a great place right now. So many engineers/scientists that work in the area, so people are able to afford higher rent. Look in Melbourne (32901/32925) or Palm Bay (I generally look in 32905 since it's close to the river, but you can go further with 32907, 32909) for people that work in Melbourne, or Cape Canaveral, Titusville, Cocoa (close to the river, not inland) for people that work at CCAFS/KSC. You can also look on the barrier island, but your returns won't be as high.