10 times the net works for any income property. Remember to discount for major repairs needed, deferred maintenance, and to be sure to confirm the operating numbers so you know what you are buying.
I live in Fort Myers, FL, relocated her from Knoxville TN. I have found my investements almost quadrople since doing waterfront properties. I am really involved with a developer in Clearwater doing mixed use resort there and also in Las Vegas. I am tickled pink with the market and the deamd for waterfront just continues to show strong gains. Anything waterfront you can get in Pinellas county, i would seriously consider. I did a lot of homework before gettign involved with what i am doing but, found in that area over the past 8 years waterfront alone yielded at 18% increase and the past 2 years 24%, that is just the water not taking into accoutn everything else...
Well I am thinking about the Orlando area. Central Florida seems to have a little less of a Median House Price.
The waterfront advice is great, thank you I appreciate it.
Anyone have anthing from other states or "Cold/Buyer" Market.
Also I am looking for a partner / investor / mentor for some deals in the local area... I will be posting a profile / resume as I approach my move date.
I am shooting for around September 1st - I am spending the summer furthering my konwledge, collecting infromation.
Thanks please keep the post going, so many times they seem to die. If there are lateral topics, please feel to bring them into the discussion.
I would check out areas within a hour of North Port/Port Charlotte. North Port is getting expensive and history shows that when areas get expensive or traffic gets to busy people will move alittle north and alittle east(west if you were on the east coast)
We are planning to move to St. petersburg in next two years. We just closed on a lot in a yacht and country club, and we have more than $80,000 in equity.
Atlanta is good, but value of houses are going up around 5% in average. The houses inside of I-285 and just outside are still pretty hot, but the sellers want too much money for their houses. We can still do well in Atlanta, but nothing like down in Florida.
We love beach and warm weather. We just cannot wait to move down there.
Check out Gulf Shores Al. we have geat beaches and low property taxes. Lots of preconstruction and rehabs due to hurricane Ivan knocking down all the old wooden structures and cheap hotels. I just sold my landscaping business to move there full time.
Yeah, I like Myrtle Beach too. We almost bought 2nd raw beach house a couple of years back. The properties are a lot cheaper up there than Florida. We seriously consider moving there too, but at the end, we decided that it is a little cold for our taste in Winter.
Im not sure about Las Vegas, you all should crunch your numbers before doing any deal instead of relying on any one particular generalization. Looking at Vegas now in the same light as this time last year would give you a rather bleak image.
Just becarefull there are alot of developers around here that are pricing Pre Construction at end user pricing. In otherwords they have watched investors make alot of money(alot of times Much more than they made) and are trying to cut the investors out. As the end user learns more about investors getting rich in the newspaper and on CNN, they are buying these overpriced precons from the developers.
Everything Oceanfront in North Myrtle and Myrtle is 1 million plus. In most cases much more. A 50 ft lot on the ocean would sell for over one million. Most of the guys I know doing oceanfront deals are related to condo sales. Condo flips are really hot here but the oceanfont houses are through the roof. The other poster was right though in regards to the market here. It is still relatively affordable, especially the costs of living, and the real estate market is awesome.
I just moved from South Fla, Miami where I saw the real esate market boom the last five years and I choose Myrtle Beach over Charleston and Clearwater due to the upside in real estate, many factors such as cost of living, miles of oceanfrontage, new I-73 coming into Myrtle, Airport Expansion, top 15 fastest growing cities population wise in the US, Top 100 places to retire, Top 5 Vacation spots in the US, aloing wiht Orlando, Vegas etc...just some thoughts.
10 times the net works for any income property. Remember to discount for major repairs needed, deferred maintenance, and to be sure to confirm the operating numbers so you know what you are buying.
I live in Fort Myers, FL, relocated her from Knoxville TN. I have found my investements almost quadrople since doing waterfront properties. I am really involved with a developer in Clearwater doing mixed use resort there and also in Las Vegas. I am tickled pink with the market and the deamd for waterfront just continues to show strong gains. Anything waterfront you can get in Pinellas county, i would seriously consider. I did a lot of homework before gettign involved with what i am doing but, found in that area over the past 8 years waterfront alone yielded at 18% increase and the past 2 years 24%, that is just the water not taking into accoutn everything else...
KSilver what part of FL are you from, i am in FTM.
Well I am thinking about the Orlando area. Central Florida seems to have a little less of a Median House Price.
The waterfront advice is great, thank you I appreciate it.
Anyone have anthing from other states or "Cold/Buyer" Market.
Also I am looking for a partner / investor / mentor for some deals in the local area... I will be posting a profile / resume as I approach my move date.
I am shooting for around September 1st - I am spending the summer furthering my konwledge, collecting infromation.
Thanks please keep the post going, so many times they seem to die. If there are lateral topics, please feel to bring them into the discussion.
realski, shoot me an email, i would be interested...
soprry silver, i just realized it says under our names where we are from..duhhh
I would check out areas within a hour of North Port/Port Charlotte. North Port is getting expensive and history shows that when areas get expensive or traffic gets to busy people will move alittle north and alittle east(west if you were on the east coast)
We are planning to move to St. petersburg in next two years. We just closed on a lot in a yacht and country club, and we have more than $80,000 in equity.
Atlanta is good, but value of houses are going up around 5% in average. The houses inside of I-285 and just outside are still pretty hot, but the sellers want too much money for their houses. We can still do well in Atlanta, but nothing like down in Florida.
We love beach and warm weather. We just cannot wait to move down there.
Check out Gulf Shores Al. we have geat beaches and low property taxes. Lots of preconstruction and rehabs due to hurricane Ivan knocking down all the old wooden structures and cheap hotels. I just sold my landscaping business to move there full time.
Yeah, I like Myrtle Beach too. We almost bought 2nd raw beach house a couple of years back. The properties are a lot cheaper up there than Florida. We seriously consider moving there too, but at the end, we decided that it is a little cold for our taste in Winter.
I have been visiting and stdying th New Orleans market and I think thats where I am headed pretty soon, thats my 2 cents.
Im not sure about Las Vegas, you all should crunch your numbers before doing any deal instead of relying on any one particular generalization. Looking at Vegas now in the same light as this time last year would give you a rather bleak image.
Just becarefull there are alot of developers around here that are pricing Pre Construction at end user pricing. In otherwords they have watched investors make alot of money(alot of times Much more than they made) and are trying to cut the investors out. As the end user learns more about investors getting rich in the newspaper and on CNN, they are buying these overpriced precons from the developers.
Everything Oceanfront in North Myrtle and Myrtle is 1 million plus. In most cases much more. A 50 ft lot on the ocean would sell for over one million. Most of the guys I know doing oceanfront deals are related to condo sales. Condo flips are really hot here but the oceanfont houses are through the roof. The other poster was right though in regards to the market here. It is still relatively affordable, especially the costs of living, and the real estate market is awesome.
I just moved from South Fla, Miami where I saw the real esate market boom the last five years and I choose Myrtle Beach over Charleston and Clearwater due to the upside in real estate, many factors such as cost of living, miles of oceanfrontage, new I-73 coming into Myrtle, Airport Expansion, top 15 fastest growing cities population wise in the US, Top 100 places to retire, Top 5 Vacation spots in the US, aloing wiht Orlando, Vegas etc...just some thoughts.