We want to take older places and make them look like they were straight from Sweden!

I have an opportunity to buy 3 villas here in south Florida from an older gentlemen that has had the units for 20 plus years and is he ready to retire.

I do feel like there is some growth opportunity there, but I think most of the seasoned members here would advise looking for properties that cash flow rather than speculate on appreciation.

A seasoned real estate investor and mentor of mine suggests that it will take $140-150 to fix and that the house needs a complete rehab.

I bought and older wood frame house with a lit attached where j built a 3/2 brick house that I also rent.

My idea was to pay cash for the property using the equity out of my  primary residence and then come back and open a line of credit ( much lower closing cost if any) against the four unit apartment after closing and meeting the seasoning requirements.

"- A seasoned realtor recommended by friend/family, with the wisdom that comes from experience.- A young gun willing to work his *** off to earn your permanent life-long loyalty.

I'll take 4 seasons, a 2500 sqft home on 2 acres for $200K, a down to earth girl, clean air, and 100 yards of open highway in front of me and my V8 every day.  

For me, I'm investing in B/C areas, slightly older areas, still safe, good/ok schools, but not as upscale/trendy as other places.

That being said, if I moved out I would cash flow $500 to $700 a month depending on the season from that one deal.