Rental Properties - South FL

[Brian Dickerson]

Total newbie here...I have read quite a bit on here and other sites, and am starting to get my feet wet looking for a 'deal'.  I want to invest in a rental property - ideally in South FL since I live here. Are there even deals to be had with this market?   Any tips on areas?

[Zachary Prusoff]

Hey Brian,
The best way to find deals are via networking, hustling, and marketing.
Networking:
Talk to everyone you know.
There's a Bigger Pockets meetup the end of August in Delray.
I would also consider finding/connecting with wholesalers at local REI meetings.
Google search for wholesalers in the area(s) you're looking for.
Hustling:
Some other great ways to find a deal-
Call ppl renting via Craigslist and see if they're open to selling.
"Drive for dollars" looking for run down properties and then figuring out who owns them. Look for landscape, garage door, roofing, or other obvious neglect issues.
If you have the cash or can get a HELOC on your current house consider foreclosures/auctions.
Marketing:
Buy lists like "homeowners who live out of state (I e landlords or snowbirds stuck with a winter home they don't want to keep paying for) and send direct mail marketing.
Search for properties in pre foreclosure or entangled in probate and see if you can support.
It's highly unlikely that you'll find a 2% deal via Redfin in 2017 but there will always be deals that cash flow even when markets are at their peaks.
Something always to consider is while you might find a deal that looks good on paper, do you really want to own a property in riviera beach? Location is so important.
I probably should have said at the start that this is based largely on what I've learned via BP, especially the podcasts and not from my own nonexistent career in real estate.