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Updated about 11 years ago on . Most recent reply

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Will F.
  • Investor
  • Los Angeles County, CA
277
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961
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Ft Lauderdale and Miami/Dade area Real Estate Investing?

Will F.
  • Investor
  • Los Angeles County, CA
Posted

I'm in California (Los Angeles area) and I have been thinking of investing out of state for years. 2 reasons why South Florida appeals to me at this time:

1. the LA market is ridiculously saturated with investors, competition and I what I feel is a bubble.

2. I have family just moved near Ft. Lauderdale and I'll be visiting the area often.

I was wondering if you know about the area or if investing in SFR or multifamilies is good now for buy and hold in that area? I'm looking for rentals that can substantially beat LA returns in pretty decent areas like B class neighborhoods in pretty good shape and easily manageable from out of state.

I have a lot of experience managing and landlording rentals in Los Angeles.

MODERATOR: THIS IS NOT AN INVITATION TO ADVERTISE YOUR SERVICES OR ASK WILL TO CONTACT YOU. SUCH POSTS WILL BE REMOVED.

Most Popular Reply

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587
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Michael Jobe
  • Real Estate Broker
  • Triangle Area, NC
214
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587
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Michael Jobe
  • Real Estate Broker
  • Triangle Area, NC
Replied

I lived in South Florida for almost four years before relocating and I can tell you I'd take Ft. Lauderdale over Miami for investing in buy & holds. It is pretty competitive but I doubt anywhere near the scale of LA. There are a lot of hedge funds that have been buying up SFRs at full asking price for the last year plus...I actually sold my house to one (Silver Bay).

In my opinion, the best area is west Ft. Lauderdale around Davie, Plantation, and Sunrise. West of the turnpike in those areas is a pretty safe bet and west of University Drive is even better. There's a lot of new construction & infrastructure going in, Broward Mall & Sawgrass Mills along with Nova Southeastern University are all within a 20 minute radius of each other. You can also find some decent property near the beach but expect to pay a little more per less square foot. If you have any questions about the area or need some connections down that way feel free to PM me!

  • Michael Jobe
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