[quote=briansd1]My brother, and I, and a friend are flipping houses in SW Florida — houses that resell up to $150k.
The friend is a contractor and his wife is a Realtor. They handle all the work.
In Florida, many houses are shells. You finish them up with brown/beige decor and sell them. You can get a house for $40,000.
I would not buy and hold right now, at that price range. Neighborhoods are changing demographically so who knows the kinds of tenants you’ll end up with in future.
For example, in Fort Myers, closer to the city (if you can call it that) is better for rental. In Cape Coral and other suburbs, as the foreclosures pile up, the trash is taking over.
Buyers who are looking to relocate to Florida can find great deals. But that’s a different evaluation.
You’re taking risks if you invest all on your own. The travel expenses can also add up.
I always say that if you are going to buy property out of town, do it in an area that you enjoy visiting, where you have friends and family.[/quote]
You look in Orlando? When I was up there, it was a minefield in REOs
