I have learned so much on this board, great to know there is a place to turn for new investors. Many of the investors on this board seem to be in areas where property values are still low. In South Florida there are not too many single family homes left for under $250K. Sooo.. as a newbie I am not sure if I should stick with condos, townhouses or go with single family. Buy, fix, flip seems liike the best way to go, but to buy cheap you have to be willing to consider very questionable areas and then hold to in hopes the area is going to turn. (which is happening everywhere here). So any advice you can provide would be helpful.. maybe I should look in other areas and forget South Florida? I am looking at a deal right now that is in a great are in palm beach county, their are $400K townhouse going up all over, three complexes within two blocks of the duplex I am considering. The duplex is $300K, needs about $2K inside just to make it rentable to more than crack addicts. The house just behind it is on the market for $375K. So is this a deal I should consider? I will probably have to rent out as duplex and hold for a year or so. Or I could put 30K in it and turn it into a single family and put on the market right away. Any thoughts??? Should I spend $300K on my first investment? (Well second actually, I bought and rehabbed a condo by the beach to rent seasonally, that was only $170K but I got lucky finding it)
