South and Central Florida Cash Flow Cities

[Dick Maykel Ortega]

If you do not mind sharing, what cities near Miami are you all targeting for cash flow properties. 

I have a property in Miami and I am familiar with most of Dade-County and some of Broward County. I am developing my investment plan and my focus will continue to be Miami, but I am interested in finding cities 1-3 hours away where multis and single family homes cash flow nicely. 

For example, I understand that Chicago investors have targeted Milwaukee for cash flow properties because purchase prices where 1/3 and rents were comparably higher. 

Also, what are the issues in those locations. For example, it may be difficult to find a management company or a handy man to perform repairs. Also, if X location is cash flowing nicely, but everyone in the town works for one company that is a non-real estate risk that I would like to be aware of. 

So what are your thoughts on cities like Ft. Myers, Naples, St. Petersburg, Boca, etc. 

We all understand that there are good deals everywhere, but this post is intended draw out neighborhoods and cities where it is relatively easy to identify good cash flow properties and the issues associated with those locations. 

[Stefan Augustyniak]

What type of return are you looking for? I have turn-key 8 CAP's available in great areas. Finding 10 CAP's is trickier to do in good areas, but if you get to know an area really well, you can find some steals that could produce 15 CAP's. Because you are familiar with Miami, I would target a couple of neighborhoods near your home by talking with the people living in the community and contacting the investors that own the properties. Also, once the neighbor's know what you are doing, some might contact you to sell you their homes. Just an idea