Need Advice in Florida

[William Silva]

Hello and good evening to you incredible people,

I've decided to invest in long-term investment properties in Florida. I live in Miami, I took advice from some of you knowledgeable gurus and decided not to invest out of state but instead to invest in more affordable cities in Florida. SW FL or N EAST

I have questions for those of you who have LTRs in Florida.

1. What city is your rental located?
2. How did you source the property (Realtor? Zillow?)
3. What are the numbers on the property? (Purchase price, down payment, how much does it rent for)?
4. Did you purchase it with a conventional loan or DSCR?
5. Do you recommend an investor friendly realtor in the area in which you own your investment property?

[Kerry Baird]

Had to respond to that great first sentence!  

1. Mine have all been in the Space Coast (Melbourne, Rockledge, Melbourne Beach and Indialantic)

2. I first bought while stationed with the Air Force in England.  I contacted a title agent, and used her expertise to find an investor friendly agent, a lender who could close, insurance etc. From there, we moved to FL and I found several houses by driving around or riding my bike in the neighborhood.

3. All over the place and over a span of time. My houses are in my bio. Last one was a big STR that I bought, refinancing houses I'd held for some time to get the down payment. I have bought several with owner financing at 6% interest only. $400k and $500k on the purchases…and rented them on AirBnb.

4. I used DSCR financing, and have used the last 3 purchases as STRs.