Fort Lauderdale, FL · Member since 2014 · 26 posts · 13 votes
Good morning BP,
I live in Ft Lauderdale, but I'm planning on buying a couple SFR or small multifamily properties to rent in Polk county this year. I'm driving over next weekend to see some properties, get a better feel for the area, and network. If anyone knows an experienced, investor-friendly agent in the area, please let me know!
Any advice about the local market is welcome :)
Thanks,
Rob Z
Plant City, Lakeland, Winter Haven, Lake Wales, Haines City, Polk City, Poinciana, Sebring, Kissimmee
@Adrian Smude is a good guy and knows that area well.
This goes for any area, but be sure you're looking at quality in those areas. There are some great deals to be found, but there are also some real lemons. I'm helping some investors navigate their way out of some really bad investments in Polk County. They looked good on paper, but have been a real headache to manage.
I'm an active agent/investor in the Orlando are, so reach anytime.
@Ron J. Cash flow and rates of return are generally lower in Ft Lauderdale. I think FTL has a lot of opportunity for long term appreciation or flips, but that's not my focus now. Also median home prices are considerably higher in FTL, so more cash is needed up front.
Landlord and Appraiser · Bartow, FL · Member since 2011 · 47 posts · 28 votes
10y
I have 16 rentals tied up in two blanket mortgages. I'm going through a divorce and would entertain offers for a 50% equity stake to buy out the ex-wife's half. Income is about $15,000 gross, net of about $5,000. Loan 1 is $472,000 Loan 2 is $309,000. Both loans dated this year year at full75% LTV. So, you would only need half of the equity to have cash flow from day one. lmk