Let’s ask the question another way.
Where in Florida, is not a good place to invest?
Moneytalks
Inland areas, Lehigh Acres, Golden Gate…waterfront has to strong of histroical appreciation to look inland…
Ok
In Okaloosa, Walton and now Bay counties a lot of people are choosing to buy inland.
Waterfront is premium to some peoples abilities.
You buy as close as you can afford. Which for some this is Freeport, Niceville or even as far north as DeFuniak Springs.
Which in turn are making these prices appreciate nicely.
For me, waterfront has to be in a newly built highrise. And I must be above the second floor.
I will do a house inland, as long as the water can not get to it and it was newly built by a reputable builder.
I do not look for typical rental properties. I want what the next guy wants and I want to get to it first.
I’ve got it and he wants it!
Moneytalks
Has anyone used the Carlton Sheets course? I’ve had it for 2 years and every page and video is new and, as yet, untouched. I did take a real estate course in Pensacola this year but haven’t taken the test.
As to the Panhandle, I agree it’s about to boom. From all I’ve seen of construction and heard of developers buying acreage, Ft. Walton Beach, Destin, Perdido Key, Lost Key and that whole area is, it’s rumored, going to be the next Miami.
My friend bought a new home in Milton (12 m. from Pensacola, 20 from Alabama & 1 hr. from the beaches) for $117,000 last Dec. and it appraised this May for $65,000 more. When I arrived they were gone in the subdivision and are now turning around at the higher price. Looks like it’s a wham-bang. You either get in on the rush or you don’t.
The other area of real growth I hear is the space coast; Titusville, Melbourne, Rockledge, Viera and all of Brevard county. I just left there and Viera is very nice and upscale and expensive. (I’m a Marylander and work for FEMA in FL. after the hurricanes.)
Looks like tax lien sales or foreclosures are going to be the ticket in hurricane damaged areas for people looking for a good resale. I hope so, that’s what I’m looking for. Anyone know differently?
I never thought of being so pro-active, but your statement, “you collect the insurance money and sell me the property” or “I’ll buy the house and I’ll deal with your insurance company.”
A foreclosure should never happen with so many people wanting to help. …makes me think. Thank you for the response. Tomorrow I’ll study on it. Interesting to see there are others at 2:30 am thinking about real estate.
Later today I’ll ask you what area of Florida you invest in.
does the gov. not protect these folks , after the hurricane I mean? Are there really people who elect to sell & leave? I just assumed these hurricane victims were “protected”. How would you know what to buy anyway? You are going to get racked when you
put their house back together…Is it worth it???
shawn :
I have to disagree with some comments about Jacksonville…many areas not on the water are going crazy (Kernan Rd area, Flemming Island, Downtown, Springfield)…my home for example…18 months old, paid 275k …now over $410. Just on my street in the last 3 months 5 homes (smaller 1750 - 2200 sqf) have sold, all in the 1st week the sign was in the yard, all less than 18 months old, sellers made between $43-69k on the sale of there homes.
Of course the beaches and riverfront area bring bigger $$
Here is an article on flipping from this weeks paper in Jax
http://www.jacksonville.com/tu-online/stories/082205/bus_19545044.shtml
Now that my house is paid for I am considering buying a new house in one of the new subdivision, renting it for a little while and selling when the lots are sold out. If I would have done that in the last 2 places we have built I would have made a killing.
does the gov. not protect these folks , after the hurricane I mean? Are there really people who elect to sell & leave? I just assumed these hurricane victims were “protected”. How would you know what to buy anyway? You are going to get racked when you
put their house back together…Is it worth it???
RESPONSE:
There are varying situations out here and no, the govt. doesn’t protect them. It can’t afford to. FEMA has X amt. of dollars to spend on everything from administrative to hiring independent contractors/ disaster housing inspectors to funding home repairs. There isn’t enough money to go around and insurance companies are counted on to pay-up, with FEMA as a secondary ‘cushion’, if you will. Some times there’s no money forthcoming from either. Very sad.
The situations worth pursuing are those whose insurance co.'s didn’t pay and they cannot afford to rebuild or repair, including very upscale homes. 2) People that lost work and/or their jobs and need to start over due to foreclosure if they can’t now afford or repair their homes. 3) Homes lost and the owner just wants out. There are still people in the panhandle living in FEMA trailers!
It takes riding around and reading the ads. You can always begin a dialog whether there’s a sign out front or not if you know your area. Remember, everything is for sale for the right price or the right situation. Just use the Carlton Sheets workbook ~ and don’t lose your ruffled shirt.
I’ve never been to Florida, and from what I see on the news (seems like constantly the last few years) it looks like a scary place to live!
How are all the locals holding up through the last big storm or two?
I have friends who own many properties in Central FL, where they’ve seen strong appreciation the last few years. They’ve been very happy with their FL properties…they specifically chose to purchase rentals that are out of the path of the hurricanes, but staying away from the south and the coastal areas.
Opinions?