Out of state investing in Daytona Beach

[Sean Harris]

So I recently started looking at properties in the Daytona beach area mainly because I have family that is moving there from California. They bought a house in Margaritaville to live in long term. I keep reading some pretty bad posts on here from other members about how horrible and sketchy Daytona Beach is and how out of state investors will get smoked there. I have read that the further south you go the better, such as Port Orange area. Are there any other investors here that could chime in as to which areas are better than others and what areas to stay away from entirely? I want to buy 10 single family homes in the next 5 years using the BRRRR strategy because I am thinking that this will be the best way for us to keep aquiring properties without running out of capital. I'm shooting for properties under 200k at the moment. I am open to other areas near Daytona that I could drive too as well.

[Kristin Kiddy]

Like any other city, there are different areas with different problems.  I actually think you can have a successful rental in 32117 zip.  There are some very quiet streets and neighborhoods so don't rule it out.  You will probably see a higher vacancy rate as this zip and 32114 both have a very transient rental population so they tend not to stay longer than a year.  On the other hand, these two areas still have properties priced so that you can see a good return.  And at your budget of under 200k, it's going to be difficult finding single families outside those areas.  I would also suggest you look at single family attached homes.  There are a number of them with low HOAs (or no HOAs) that would be great rental properties.  Rents here, from Port Orange to Ormond Beach are rising like you wouldn't believe and supply is at a record low.  There is a lot of opportunity for rental investment if you are willing to do some rehab.  PM me if you'd like to discuss further.