Florida Real Estate

[Coronita]

[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

[briansd1]

[quote=flu]

You look in Orlando? When I was up there, it was a minefield in REOs[/quote]

I don’t know anyone in Orlando. But I heard that my brother’s MIL bought a 4000sf foreclosure on the golf course for $250,000, somewhere in a suburb of Orlando.

[briansd1]

[quote=flu]

You look in Orlando? When I was up there, it was a minefield in REOs[/quote]

I don’t know anyone in Orlando. But I heard that my brother’s MIL bought a 4000sf foreclosure on the golf course for $250,000, somewhere in a suburb of Orlando.

[briansd1]

[quote=flu]

You look in Orlando? When I was up there, it was a minefield in REOs[/quote]

I don’t know anyone in Orlando. But I heard that my brother’s MIL bought a 4000sf foreclosure on the golf course for $250,000, somewhere in a suburb of Orlando.

[briansd1]

[quote=flu]

You look in Orlando? When I was up there, it was a minefield in REOs[/quote]

I don’t know anyone in Orlando. But I heard that my brother’s MIL bought a 4000sf foreclosure on the golf course for $250,000, somewhere in a suburb of Orlando.

[briansd1]

[quote=flu]

You look in Orlando? When I was up there, it was a minefield in REOs[/quote]

I don’t know anyone in Orlando. But I heard that my brother’s MIL bought a 4000sf foreclosure on the golf course for $250,000, somewhere in a suburb of Orlando.

[CardiffBaseball]

I moved here to Orlando up in the Oviedo area just north of UCF so I pretty much stick to looking around Oviedo/Winter Springs area. It is definitely one screwed up market. I have a rental agreement rather than a lease which allows me to break with 15 days notice (though I’d lose the “rebates” I’ve been earning). Strange way to do business on the rental but oh well.

What’s nice is I could bid on a short sale, but when I nearly pulled the trigger in July my credit score fell below the threshold since 30 days had expired. one of the three went below threshold while waiting to get the contract done (likely from inquiries and running CC charges waiting to get reimbursed). The other two didn’t go down like that but one did and it was enough to shoot down the loan They tried to convince me to go FHA at 6% and refi later but I said no, no thanks I’ll wait. That house still sits (the one who I was told had another offer while I was in Cali still). Not a single house we toured sold.

Out here buying is of course cheaper than renting at this point so I might jump on something this christmas, but right now I am not looking too hard.

[CardiffBaseball]

I moved here to Orlando up in the Oviedo area just north of UCF so I pretty much stick to looking around Oviedo/Winter Springs area. It is definitely one screwed up market. I have a rental agreement rather than a lease which allows me to break with 15 days notice (though I’d lose the “rebates” I’ve been earning). Strange way to do business on the rental but oh well.

What’s nice is I could bid on a short sale, but when I nearly pulled the trigger in July my credit score fell below the threshold since 30 days had expired. one of the three went below threshold while waiting to get the contract done (likely from inquiries and running CC charges waiting to get reimbursed). The other two didn’t go down like that but one did and it was enough to shoot down the loan They tried to convince me to go FHA at 6% and refi later but I said no, no thanks I’ll wait. That house still sits (the one who I was told had another offer while I was in Cali still). Not a single house we toured sold.

Out here buying is of course cheaper than renting at this point so I might jump on something this christmas, but right now I am not looking too hard.

[CardiffBaseball]

I moved here to Orlando up in the Oviedo area just north of UCF so I pretty much stick to looking around Oviedo/Winter Springs area. It is definitely one screwed up market. I have a rental agreement rather than a lease which allows me to break with 15 days notice (though I’d lose the “rebates” I’ve been earning). Strange way to do business on the rental but oh well.

What’s nice is I could bid on a short sale, but when I nearly pulled the trigger in July my credit score fell below the threshold since 30 days had expired. one of the three went below threshold while waiting to get the contract done (likely from inquiries and running CC charges waiting to get reimbursed). The other two didn’t go down like that but one did and it was enough to shoot down the loan They tried to convince me to go FHA at 6% and refi later but I said no, no thanks I’ll wait. That house still sits (the one who I was told had another offer while I was in Cali still). Not a single house we toured sold.

Out here buying is of course cheaper than renting at this point so I might jump on something this christmas, but right now I am not looking too hard.

[CardiffBaseball]

I moved here to Orlando up in the Oviedo area just north of UCF so I pretty much stick to looking around Oviedo/Winter Springs area. It is definitely one screwed up market. I have a rental agreement rather than a lease which allows me to break with 15 days notice (though I’d lose the “rebates” I’ve been earning). Strange way to do business on the rental but oh well.

What’s nice is I could bid on a short sale, but when I nearly pulled the trigger in July my credit score fell below the threshold since 30 days had expired. one of the three went below threshold while waiting to get the contract done (likely from inquiries and running CC charges waiting to get reimbursed). The other two didn’t go down like that but one did and it was enough to shoot down the loan They tried to convince me to go FHA at 6% and refi later but I said no, no thanks I’ll wait. That house still sits (the one who I was told had another offer while I was in Cali still). Not a single house we toured sold.

Out here buying is of course cheaper than renting at this point so I might jump on something this christmas, but right now I am not looking too hard.

[CardiffBaseball]

I moved here to Orlando up in the Oviedo area just north of UCF so I pretty much stick to looking around Oviedo/Winter Springs area. It is definitely one screwed up market. I have a rental agreement rather than a lease which allows me to break with 15 days notice (though I’d lose the “rebates” I’ve been earning). Strange way to do business on the rental but oh well.

What’s nice is I could bid on a short sale, but when I nearly pulled the trigger in July my credit score fell below the threshold since 30 days had expired. one of the three went below threshold while waiting to get the contract done (likely from inquiries and running CC charges waiting to get reimbursed). The other two didn’t go down like that but one did and it was enough to shoot down the loan They tried to convince me to go FHA at 6% and refi later but I said no, no thanks I’ll wait. That house still sits (the one who I was told had another offer while I was in Cali still). Not a single house we toured sold.

Out here buying is of course cheaper than renting at this point so I might jump on something this christmas, but right now I am not looking too hard.

[briansd1]

[quote=CardiffBaseball]

Out here buying is of course cheaper than renting at this point so I might jump on something this christmas, but right now I am not looking too hard.[/quote]

For sure. In Florida a family on a good income can buy a nice house and not have to stretch financially.

[briansd1]

[quote=CardiffBaseball]

Out here buying is of course cheaper than renting at this point so I might jump on something this christmas, but right now I am not looking too hard.[/quote]

For sure. In Florida a family on a good income can buy a nice house and not have to stretch financially.

[briansd1]

[quote=CardiffBaseball]

Out here buying is of course cheaper than renting at this point so I might jump on something this christmas, but right now I am not looking too hard.[/quote]

For sure. In Florida a family on a good income can buy a nice house and not have to stretch financially.

[briansd1]

[quote=CardiffBaseball]

Out here buying is of course cheaper than renting at this point so I might jump on something this christmas, but right now I am not looking too hard.[/quote]

For sure. In Florida a family on a good income can buy a nice house and not have to stretch financially.

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