Landlord · Boca Raton, FL · Member since 2015 · 15 posts · 0 votes
I'm in the process of relocating from PA to FL, purchasing a duplex to derive income. I am very interested in purchasing additional rentals and possibly flipping houses. My background is in the field of pharmacy... ready to make a change!!!
Yep, most are in the 300-350k range, and $1100-1300--/mo rent per unit. I'm guessing near Dixie Hwy, between Glades and Yamato? That's where most of the duplexes are, built in the 70's. Around or just under 1%/mo. rent, Boca duplexes are all about appreciation.
I hope you have someone who knows the market to help you. It is tough going somewhere new and getting a good location/deal right away. This is a very transient area so you won't have trouble renting but you may have trouble keeping a renter. West boca is hot right now for flipping / updating older homes. You should consider renting for a few months first if you don't know the area well
The duplex I am buying is 1 mile from the beach and close to the university. I feel pretty good about it. I have a fantastic realtor in Boca who has been doing business with our family for over 20 years and has great experience in that particular area. As for flipping, I am much more cautious and definitely plan on becoming more acclimated to the area before delving in. I will look closely at West Boca and get his opinion when I get down there. Thank-you for the advice!
The duplex I am buying is approx $350,000. It is something I plan to have and rent/hold. It will initially bring approx $3000 in income the first year. I am not very experienced so I do not know the formulas, but I feel it to be a sound investment. I have been quite uncomfortable with the volatility of the stock market and really will be happy with even a small return. I am pretty confident about the area and am actually looking to get a second duplex very close to there if the opportunity presents itself.
Yep, most are in the 300-350k range, and $1100-1300--/mo rent per unit. I'm guessing near Dixie Hwy, between Glades and Yamato? That's where most of the duplexes are, built in the 70's. Around or just under 1%/mo. rent, Boca duplexes are all about appreciation.
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