Please Scroll Down to See Forums Below
Real Estate in Florida...
- Thread starter sawastea
- Start date
Y_lifter
New member
Coastal Properties ?
I hope you own an Insurance Company as well..
COPY PASTED FROM VARIOUS SOURCES
Among the state's larger metropolitan statistical areas (MSAs), Tampa-St. Petersburg-Clearwater reported double-digit gains in number of sales and median sales price in 2004 compared to the previous year. With a total of 47,639 homes sold last year, the figure was 17 percent higher than the area's 2003 sales activity, when 40,867 homes changed hands. The median sales price rose 15 percent to $159,900; the year before, it was $139,300.
George Bodmer, president of the Greater Tampa Association of Realtors and general manager of Bayside Realty Group Inc. in Brandon, says buyers' appetite for homes in the Tampa Bay area will remain strong this year.
"This is a great place to live," he says. "It has everything buyers want - - good schools, entertainment facilities and events, sports, leisure activities, jobs and, of course, Tampa Bay. Plus, we still have land available for development in the area and that helps with housing affordability."
Other large Florida MSAs reporting higher sales in 2004 compared to a year ago include: Jacksonville, where 16,150 homes sold for a 15 percent gain; and Orlando, where 36,659 homes changed hands for a 14 percent increase. The median sales price also rose 15 percent in both markets last year: reaching $164,500 in Orlando and $159,000 in Jacksonville.
In the smaller markets, the Naples MSA reported 4,900 homes sold last year, a 16 percent increase over the 4,225 homes sold the previous year. The median sales price rose 28 percent to $374,300; the year before, it was $291,400.
"Supply and demand is one of the primary factors driving our market... the supply of for-sale homes is tight while the demand has increased dramatically," says Michelle Harrison, president of the Naples Area Board of Realtors and Association of Real Estate Professionals and director of sales for Elias Brothers Communities in Naples. "In the Naples area, we're blessed with having a lot of investors interested in the market, investors who view real estate as a tangible asset."
Among the state's smaller markets, others reporting increases in home resales for 2004 compared to the previous year include: Fort Walton Beach, where 5,171 homes changed hands for a 27 percent boost; and Lakeland-Winter Haven, where 5,857 homes sold for a 12 percent increase. The markets' median sales price also rose last year: in Fort Walton Beach, 25 percent to $190,300; and in Lakeland-Winter Haven, 15 percent to $111,100.
I hope you own an Insurance Company as well..
COPY PASTED FROM VARIOUS SOURCES
Among the state's larger metropolitan statistical areas (MSAs), Tampa-St. Petersburg-Clearwater reported double-digit gains in number of sales and median sales price in 2004 compared to the previous year. With a total of 47,639 homes sold last year, the figure was 17 percent higher than the area's 2003 sales activity, when 40,867 homes changed hands. The median sales price rose 15 percent to $159,900; the year before, it was $139,300.
George Bodmer, president of the Greater Tampa Association of Realtors and general manager of Bayside Realty Group Inc. in Brandon, says buyers' appetite for homes in the Tampa Bay area will remain strong this year.
"This is a great place to live," he says. "It has everything buyers want - - good schools, entertainment facilities and events, sports, leisure activities, jobs and, of course, Tampa Bay. Plus, we still have land available for development in the area and that helps with housing affordability."
Other large Florida MSAs reporting higher sales in 2004 compared to a year ago include: Jacksonville, where 16,150 homes sold for a 15 percent gain; and Orlando, where 36,659 homes changed hands for a 14 percent increase. The median sales price also rose 15 percent in both markets last year: reaching $164,500 in Orlando and $159,000 in Jacksonville.
In the smaller markets, the Naples MSA reported 4,900 homes sold last year, a 16 percent increase over the 4,225 homes sold the previous year. The median sales price rose 28 percent to $374,300; the year before, it was $291,400.
"Supply and demand is one of the primary factors driving our market... the supply of for-sale homes is tight while the demand has increased dramatically," says Michelle Harrison, president of the Naples Area Board of Realtors and Association of Real Estate Professionals and director of sales for Elias Brothers Communities in Naples. "In the Naples area, we're blessed with having a lot of investors interested in the market, investors who view real estate as a tangible asset."
Among the state's smaller markets, others reporting increases in home resales for 2004 compared to the previous year include: Fort Walton Beach, where 5,171 homes changed hands for a 27 percent boost; and Lakeland-Winter Haven, where 5,857 homes sold for a 12 percent increase. The markets' median sales price also rose last year: in Fort Walton Beach, 25 percent to $190,300; and in Lakeland-Winter Haven, 15 percent to $111,100.
try this neighborhood...
looks nice to me...
http://maps.google.com/maps?q=33409&ll=26.748651,-80.074550&spn=0.005622,0.007875&t=k&hl=en
looks nice to me...
http://maps.google.com/maps?q=33409&ll=26.748651,-80.074550&spn=0.005622,0.007875&t=k&hl=en
you should have gotten in like, 6 years ago.
right now, the market is red hot and overpriced. and it is not going to stop either. most people are sitting around predicting it will burst. that is not going to happen for two reasons. first, you have all these baby boomers retiring in the next ten years. where do you think they are going to move? second, the U.S. dollar is looking like it is only going to get weaker to the euro, which is why all the euroetirees are buying in down here now.
right now, the market is red hot and overpriced. and it is not going to stop either. most people are sitting around predicting it will burst. that is not going to happen for two reasons. first, you have all these baby boomers retiring in the next ten years. where do you think they are going to move? second, the U.S. dollar is looking like it is only going to get weaker to the euro, which is why all the euroetirees are buying in down here now.
Y_lifter
New member
Here is the real issue with your plan..
People are selling their existing houses for a major profit from what
they have in it true enough..
But unfortunately they must pay more amd more for a new house because
housing prices are going thru the roof.. So they even out at best.
As to buying for investment, same problem.
You gotta pay so much for a house initially, that you can't hardly rent it out for
enough to make the mortgage payment let alone make money. Even POS handyman specials are way over priced..
But, they are still building like crazy, and people are still keep buying them.
People are selling their existing houses for a major profit from what
they have in it true enough..
But unfortunately they must pay more amd more for a new house because
housing prices are going thru the roof.. So they even out at best.
As to buying for investment, same problem.
You gotta pay so much for a house initially, that you can't hardly rent it out for
enough to make the mortgage payment let alone make money. Even POS handyman specials are way over priced..
But, they are still building like crazy, and people are still keep buying them.
for the love of god do not buy here if you like money.
the bubble will burst hardest in Miami, and less so everywhere else too. All of the prices here except the very high end are interest rate driven. Baby boomers are going to places like Gulf Shores, AL and Panama City.
I bought my places almost 2 years ago and have seen some appreciation. I don't think there will be too much more. AAP and I may just agree to disagree on this.
the bubble will burst hardest in Miami, and less so everywhere else too. All of the prices here except the very high end are interest rate driven. Baby boomers are going to places like Gulf Shores, AL and Panama City.
I bought my places almost 2 years ago and have seen some appreciation. I don't think there will be too much more. AAP and I may just agree to disagree on this.
Y_lifter said:
Great advice here.
people are selling shoebox cracker houses from the 1950's for 400K. And then they are shelling out an extra 200K just to be able to move into something else decent. Unless they are moving to alabama or something.
Start at Palm Beach and look north. That is where the best deals are. Anything south is already over saturated.
Also, consider the west coast. St Pete, Tampa and Ft Myers still have a lot of good deals.
AAP said:
This is worth repeating; I have heard good things from an investor standpoint about Fort Myers, but everything there is subject to interest rates.
Also, check out www.so5th.com for some Miami info.
M
mr.cuts
Guest
AAP said:
You are a moron. You are saying on one hand that it is too late to buy in, but on the other hand the market shows no signs of slowing down??? Please don't try to discuss economic trends, you have no clue what you are talking about.
mr.cuts said:
LOL that's funny.
You own anything in FL?
pitbullstl
New member
MattTheSkywalker said:
Nope.
Look to the Southern Gulf Coast (Ft. Meyers, Naples Etc...) and undeveloped areas of Broward and Palm Beach Counties......Boca is booming right now.
I just bought one of these www.uptownmiami.com
Pre-Construction was $375,000 for a middle unit, top floor. Here's a prediction, not only will Aventura blow up in the next 5 years, this unit will more than likely double.
We will incorporate in Boca by next year.
pitbullstl said:Nope.
Look to the Southern Gulf Coast (Ft. Meyers, Naples Etc...) and undeveloped areas of Broward and Palm Beach Counties......Boca is booming right now.
I just bought one of these www.uptownmiami.com
Pre-Construction was $375,000 for a middle unit, top floor. Here's a prediction, not only will Aventura blow up in the next 5 years, this unit will more than likely double.
We will incorporate in Boca by next year.
You have a greater appetite for risk in FL properties than I do. I have three including a primary residence in Jax, and that is enough for me sir. I am actually thinking of selling one of the condos, but the developer is dragging ass getting it done...we will see.
I don't see how Miami won't plummet, many share my opinion, evidently you don't...all I can say is good luck.
I hope the demand stays strong, but there are too many negative indicators for me to invest. It's not my bag, baby....anymore.
sawastea, I don't know what you are referring to, I think investing in Miami is insanity, for pitbullstl's sake I hope I am wrong...but I am not putting a dollar into that.
MsBeverlyHills
New member
AAP said:
I agree...youll get even better deals after the next hurricane
bran987
New member
Consider Biloxi, MS if you want to know where a lot of Baby Boomers are going to go... the current Casinos and Hotels are already packed at near full occupancy and the first 10 condo projects underway.. Hard Rock Hotel & Casino is building about 2 miles from the project I'm working on.
Matt knows I am selling condos in a project there. There is a $3 billion gaming industry in Biloxi, look for that to be somewhat of a barrier to a falling market, as old people love to sit in front of slot machines and look at the ocean
They're also expanding the airport, renovating the older casinos there and blah blah blah *sales pitch*
BTW the building was released today and around 300 of the 452 units were immediately put under reservation. whew! it almost killed me.
Matt knows I am selling condos in a project there. There is a $3 billion gaming industry in Biloxi, look for that to be somewhat of a barrier to a falling market, as old people love to sit in front of slot machines and look at the ocean
They're also expanding the airport, renovating the older casinos there and blah blah blah *sales pitch*BTW the building was released today and around 300 of the 452 units were immediately put under reservation. whew! it almost killed me.
mr.cuts said:
Since I own 4 pieces of property in south florida and you own ???? (thought so) I think I am very qualified to discuss economic trends.
You may want to work on your reading comprehension skills too. As I said, the market is booming, and yes, it is too late to buy in unless you want to overpay out of the ass just to get ahold of something worth only half of what you paid for it.
Notice the author of this thread stated he was buying some properties? You know, plural form. You can only live in one place at a time, so it goes without wasting a braincell to figure out that he is looking for investment purposes. In terms of investment purposes, it is hard for a piece of property to appreciate when everything in town is going up as well. You have something 5 years old and it costs the same as something brand new, what are you going to pick?
Purchasing property to live in long term is not the same as purchasing something to invest in and flip on the market soon. Doesn't work like that here.
Now you know. And knowing is half the battle.
M
mr.cuts
Guest
AAP said:
Listen, don't try to debate real estate with me. I make my living in real estate, thus I have much more knowledge in this area than you.You obviously have no concept of market value. By the way, I own several properties in Fairfield County, Connecticut.
Dieselgoku23
New member
Dude I went to Coral Gables high school and Coral Gables is top notch neighborhood right now your looking prices out there for 3 to 5 mill. I moved out west to Kendall is an area in Miami about 12 years my parents bought our house for 90ks now is 360ks is insane personally you want something booming come here to South Florida Miami area. Now if you go to upper florida with 200 you can get a huge house thats my goal save some money and move out Miami is insane out heresawastea said:
Sassy69
New member
I bought a 1000 sq foot 2 story townhouse (no garage) with a deeded dock and no fixed bridges between it and Hillsboro Inlet (north of Ft. Lauderdale), 10 minutes away by boat (and the ocean 10 min away by boat) for $145K in 1999. In 2003 I sold it for $250K. It now goes for about $350-400K.
mr.cuts said:
sweet. You rent to Fairfield U kids? Or do you own some beachfront properties overlooking those lovely smokestacks in the Long Island sound?
Your extensive real experience probably taught you that real estate is fairly regional, thus what is happening in Fairfield County, CT, is not always indicative of what is happening in Florida.
Your extensive real estate background might have even told you that within Florida, different trends emerge in different areas. In fact, FL is one of the most diverse states around for RE investors.
I am sure you learned that while you were making a living in real estate.
Now learn this:
When someone asks for advice on this board, we don't flame them and we don't turn the thread into a pissing contest. Got it? Find a board targeting Fairfield County property owning assholes and you'll be in your element.
Have a nice night.
M
mr.cuts
Guest
MattTheSkywalker said:
Listen Skippy, if i wanted to head down to the arm pit of the U.S. to make $$$ in real estate, trust me I could. Personally, I want to stay as far away from Florida as possible. Have fun in the redneck riviera.
M
mr.cuts
Guest
MattTheSkywalker said:
FYI, I own three multi's in Greenwich that I rent out and I purchased a 2.5 million dollar house in Ridgefield last spring, which I currently reside in. By the way, I just turned 27. Have a nice night, skippy!
mr.cuts said:
Sweet...you're getting pissy. So cute. Does your mom know you're on the computer so late?
I have a place in Jax, and another 2 in West Palm Beach. redneck riviera? Kneegrow please.
But since you said that...Nothing - nothing....not even Manhattan, Miami or San Fran has yielded better returns than the "redneck riviera" the last 10 years. Nowhere are more condos being built - and sold. I wish I had bought a few units there.
I always find it amusing when people talk investing, but avoid opportunities to make "real $$$". What kind of investor wants that? lol @ "extensive experience".
Put your Dad on the computer and go to bed, Fairfield boy.
$2.5M? Should I be impressed? Is that a lot?
M
mr.cuts
Guest
MattTheSkywalker said:
LOL! Do I sense a bit of jealousy here?!?!!
mr.cuts said:
Nah, I know where I stand.
I've met many people off here...shown them my places in FL...$2.5M is a nice place, but I already have that and more. One of my lots before construction is $3M+. Like I said, people from this site have seen that one, and I have a place in NY too, along with 2 is South FL. And you or anyone is welcome to see any of them ANY TIME.
Are we all going to list our portfoilos now? I could give a fuck if you own a billion in property. I'm pissed off at your tired ass because ONLY you managed to be an asshole on this thread without offering anything.
Anyone seen yours? I am in NY all the time. Can I stop by? You sound like an Internet bullshit artist. Whyare you so "successful" and yet so hostile? Why challenge everyone if you have all this experience to offer?
Probably because you're full of shit. Poser.
M
mr.cuts
Guest
MattTheSkywalker said:
listen, if you want to turn this into a pissing contest. The total appraised value of my real estate holdings is over $7 million. What's up, Skippy!?!
mr.cuts said:
Who cares? Who fuckin cares? You started the pissing contest, and I still think you're an Internet poser. You could say $100M and who would know?
Who knows you? You're just some assclown with a login name. You know anyone off of here?
You a Fairfield grad, poser?
M
mr.cuts
Guest
MattTheSkywalker said:
By the way, let me know when you are in NYC. You are more than welcome to stop by. I will be more than glad to show you my properties. Also, I will show you my dads estate in the backcounty of Greenwich. I think you will be more than impressed. Let me know.
mr.cuts said:
Wow, Daddy's money, nice. That was Trump's technique too. I shouldn't knock it too hard, it's not your fault.
Are you a Fairfield grad?
wutangnomo
New member
MattTheSkywalker said:
Cool. When can I stop by? Can I bum there for free? I will be needing a large bathroom. Toilet must be super clean. I'm anal about that kind of shit (no pun intended). lol
M
mr.cuts
Guest
MattTheSkywalker said:Wow, Daddy's money, nice. That was Trump's technique too. I shouldn't knock it too hard, it's not your fault.
Are you a Fairfield grad?
UConn!
mr.cuts said:
And clearly you were in a frat?
P
Phaded
Guest
you all are like a bunch of big bullies picking on the little lost kid.. this thread got pathetic pretty quick..
pitbullstl
New member
MattTheSkywalker said:You have a greater appetite for risk in FL properties than I do. I have three including a primary residence in Jax, and that is enough for me sir. I am actually thinking of selling one of the condos, but the developer is dragging ass getting it done...we will see.
I don't see how Miami won't plummet, many share my opinion, evidently you don't...all I can say is good luck.
It's not my bag, baby....anymore.
sawastea, I don't know what you are referring to, I think investing in Miami is insanity, for pitbullstl's sake I hope I am wrong...but I am not putting a dollar into that.
I've made entirely way too much money in the last 4-5 years doing the same thing, as far as the bubble bursting in Miami, I wouldn't entirely disagree.....Aventura is far enough North to be safe IMO.....and everything else we do, is further North still, and heading West. If one of my brokers called me and said he had a hot property in SoBe, I wouldn't take that chance, even if it was commercial.
Let's take for example my last build, Toscana Towers in Highland Beach, pre-construction $670,000 5 years ago. Today units of less caliber are going for $1.2 to $1.4...and rising.
They're not all winners Matt, as I'm sure you know. But the market's still hot in my opinion, and as AAP has already mentioned, the EuroGeezers are already calling.
edit: Is it the CityPlace condo you are considering selling?? If so, let me know.
Last edited:
aw we're just pissing across the Internet like any other thread, now you're makin' me feel bad.
gjohnson5 said:You were lookin like a frat boy with 2 beers in ya hand at that EF meeting,
hehehehehe
pitbullstl said:I've made entirely way too much money in the last 4-5 years doing the same thing, as far as the bubble bursting in Miami, I wouldn't entirely disagree.....Aventura is far enough North to be safe IMO.....and everything else we do, is further North still, and heading West. If one of my brokers called me and said he had a hot property in SoBe, I wouldn't take that chance, even if it was commercial.
Let's take for example my last build, Toscana Towers in Highland Beach, pre-construction $670,000 5 years ago. Today units of less caliber are going for $1.2 to $1.4...and rising.
They're not all winners Matt, as I'm sure you know. But the market's still hot in my opinion, and as AAP has already mentioned, the EuroGeezers are already calling.
edit: Is it the CityPlace condo you are considering selling?? If so, let me know.
No doubt the Euro Geezers are calling, I just don't see it as sustainable. I'm going to try some other directions. Everything there is overpriced. $1.4M for Toscana Towers is insanity...don't get me wrong, I am glad it's happening for you, but it's just_not_worth_that. And eventually someone has to figure this out...markets are weird like that.
I hope you get your money out at the right time.
I might be too conservative....I am probably the guy who would have sold Dell when my money tripled, and missed out on the 38,000% gains over time, ya know? I hear you on north and west....which is why I bought in WPB not Fort Lauderdale, but go too far west and it's not really South FL anymore....it's just suburban sprawl which I can find here in Jax. Or Alabama.
Last thing - they are both "city place" condos - one to the east of CP, and one to the West, both are literally 2-3 blocks away from CP. The idea of dumping one is appealing, I want to see after I close how the rentals work down there - if I sell I will sell in season.
We'll get together down there eventually.
pitbullstl
New member
MattTheSkywalker said:
I'm sure you of all people know this, but it's worth what the market dictates, and the trend for the past 3-4 years is upscale highrise beach living. The amount of "young" people I have for neighbors, boggles my mind.
If you think $1.4 is insane, I won't even tell you about the 5000 sq. ft penthouse that brought $5.2.
And.....by West, I'm referencing Naples and Ft. Meyers, still "Florida" enough for most, the European, South American Flavor had already laid it's roots.
pitbullstl
New member
]gjohnson5 said:I'm not too familiar with South Florida , but I've done some commercial fishin' in Pensacola been told that beachfront property even in there was 1 mil or more.
If mr cuts thinks south florida is full of rednecks , he outta travel to Florabama
How ya been homey..?? Haven't seen ya around too much....
Mr. Cuts appears to be a douchebag.
gjohnson5
New member
pitbullstl said:]
How ya been homey..?? Haven't seen ya around too much....
Mr. Cuts appears to be a douchebag.
Yeah I haven't been postin much. I like all this talk about the South (as much as you consider florida a part of the South) cause my main thought is moving back myself. So I've been pondering that direction alot.
redguru
New member
AAP said:
Check out this picture from the mullet toss at the Flora-Bama bar last year.
Typical L.A. (lower Alabama) denizen
Sassy69
New member
The 'rents have a place in Gulf Shores expected to be completed in a few months. $400K.
I obviously am not concerned about exposing the size of my dick (i.e. not a large cash investor of hot beach front property), however I lived in the Ft. Lauderdale area for 12 yrs. Condo sales were sort of flat for many yrs, you could get a house in the shitty side of US 1 for fairly cheap and even Ft. Lauderdale Beach stopped "renovating" for several yrs in the mid 90s. Like I said, I bought a goofy little cracker box townhouse for $145 in '99, $3k down. Property tax went up a bit, windstorm ins went nuts. Then in 2003 you started seeing it go up when the rates dropped. By 2004 you couldn't find any "fixer uppers" and any investment property was getting snapped up. My parents had vacationed in Ft Myers for yrs and would look at investment condos but balked when they say the $150K prices. They finally bought into one at $400K after seeing the prices weren't going down. Ft Lauderdale Beach is starting to get renovated again and those beach front units are going to start in the $1M range. Even my shitty little place w/ teh "blow out walls" is goign to be nearly $500K soon. I can't even afford to buy it back now.
I've got a friend who bought some undeveloped beach front in Flagler Beach for around $250 3 yrs ago. So you gotta look hard to find the good deals and just expect it to continue to go up. There are more baby boomer retirees looking for beach front retirement and there's only so much available. In FL everyone & their brother is a realtor as well.
I obviously am not concerned about exposing the size of my dick (i.e. not a large cash investor of hot beach front property), however I lived in the Ft. Lauderdale area for 12 yrs. Condo sales were sort of flat for many yrs, you could get a house in the shitty side of US 1 for fairly cheap and even Ft. Lauderdale Beach stopped "renovating" for several yrs in the mid 90s. Like I said, I bought a goofy little cracker box townhouse for $145 in '99, $3k down. Property tax went up a bit, windstorm ins went nuts. Then in 2003 you started seeing it go up when the rates dropped. By 2004 you couldn't find any "fixer uppers" and any investment property was getting snapped up. My parents had vacationed in Ft Myers for yrs and would look at investment condos but balked when they say the $150K prices. They finally bought into one at $400K after seeing the prices weren't going down. Ft Lauderdale Beach is starting to get renovated again and those beach front units are going to start in the $1M range. Even my shitty little place w/ teh "blow out walls" is goign to be nearly $500K soon. I can't even afford to buy it back now.
I've got a friend who bought some undeveloped beach front in Flagler Beach for around $250 3 yrs ago. So you gotta look hard to find the good deals and just expect it to continue to go up. There are more baby boomer retirees looking for beach front retirement and there's only so much available. In FL everyone & their brother is a realtor as well.
redguru
New member
Sassy69 said:
Wow, Sassy, I hope they started it Post-Ivan, was a real mess around here. But Alabama seems to be on the ball more than Florida. Gulf Shores is a lot cleaner and better repaired than Perdido Key. Its been 8 months and Perdido still looks like a bomb went off on the beach.
Sassy69
New member
Actually their place is like 5 miles from landfall, but it was only the building shell. No damage and looks like it didnt' delay the building schedule at all. However the surrounding area had trouble - lots of places had no utilities, etc. I'm sure its goign to take some time for the community to spring back to life. Hopefully the current El Nino cycle will pass w/o too much destruction.... Its the storm insurance that is so brutal.
The hottest markets are Port St Lucie and the rest of Treasure Coast. In Palm Beach County I'd look as north as possible, particularly Palm Beach Gardens/PGA and Abacoa town center of Jupiter. Abacoa is gorgeous and has the space, schools, and roads to sustain the growth.
Abacoa Community Homepage
Scripps, the world's largest non-profit bio-med research center, is supposed to be opening another institute in western PBC. It's being delayed because of legal disputes and just this week Scripps threatened to pull out. Either way, it's something to keep an eye on.
Here are some cut n' pastes from articles in the PB Post. I'd paste the hyperlinks but I retrieved them from a subscription database that won't allow public access.
HOUSING BOOM AT FULL THROTTLE
Palm Beach Post, The (FL)
May 13, 2005
Author: JEFF OSTROWSKI, Palm Beach Post Staff Writer
Abacoa Community Homepage
Scripps, the world's largest non-profit bio-med research center, is supposed to be opening another institute in western PBC. It's being delayed because of legal disputes and just this week Scripps threatened to pull out. Either way, it's something to keep an eye on.
Here are some cut n' pastes from articles in the PB Post. I'd paste the hyperlinks but I retrieved them from a subscription database that won't allow public access.
HOUSING BOOM AT FULL THROTTLE
Palm Beach Post, The (FL)
May 13, 2005
Author: JEFF OSTROWSKI, Palm Beach Post Staff Writer
Razorguns
Well-known member
Which are you guys doing?
1) Buying properties, renting them to tenants, waiting for appreciation, then selling?
2) Invest into new developments. Get in on a certain price. Wait til development is finished. Development gets sold on the live market at high prices. Pocket the difference.
?
1) Buying properties, renting them to tenants, waiting for appreciation, then selling?
2) Invest into new developments. Get in on a certain price. Wait til development is finished. Development gets sold on the live market at high prices. Pocket the difference.
?
M
mr.cuts
Guest
pitbullstl said:]
How ya been homey..?? Haven't seen ya around too much....
Mr. Cuts appears to be a douchebag.
What, no love from the used car salesman!!! Come on!
Y_lifter
New member
Razorguns said:
Number one won't work now in most areas because the houses are over priced as rentals for their Sq Footage.. You can't hardly buy a rental style 3/2 Single Family home for under $300K in most areas. Most Renters won't pay you $12-1500 a month when they can get a morgage for the same or less.
Unless they are Credit challenged. And I would not want them as tenants.
Sounds like those in here that are into investment properties are doing #2.
Sassy69 said:
We're framing now.
You can come down anyway, plenty of room at the rental.
pitbullstl
New member
mr.cuts said:
Hey look it's AAP's cumguzzling gutterbitch........back for more Skippy.??
Ouch.........you hurt me with your razorsharp assesment of my profession.
Sassy69 said:
yeah that was a good one. I might rent it.
I also might eat sushi for dinner. I had Thai for lunch. So Asian these days.
pitbullstl
New member
Sassy69 said:
Eat Something!!
By the way CONGRATS!! You looked awseome!!
I live in Port St Lucie FL, the fastest growing area in the nation, lived here since 7/2003. Owned 1 house while the new one was being built. First house owned 8 months purchased 7-2003, sold and made $47,000 which was ironically the deposit we made when we took out construction loan to build the house we now live in. 3/2 2860sq under air, 2car garage, screened area huge with 15 x 28 pool and hot tub, paid $178, then, just refinanced, worth $335,000!!!! Land was $28,000 and the two lots on either side of me are going for $69k today!!! I was fortunate to not have any hurricane damage, I was the only one on the street. The whole entire area including kids school was ruined, beaches are being rebuilt, many blue roofs still to this day as Hurricane Season approaches again. Treasure Coast is very expensive and I came from NH, taxes are high, schools suck!!! Lots of snow birds. Growing too quick. Pay rate is approx $7 an hour/hubby trucker for 27 years makes $11 an hour, what an insult after making $30 an hour up north. This is the prices you pay for sunshine. Fort Pierce is slummy. Jensen Beach is nice, Stuart too. But jobs, the pay sucks in this area. Just wanted to give u some knowledge I wish someone gave me before I left snowy NH!Sassy69 said:
Y_lifter
New member
They are zoning and building a Huge, Miles long, High Tech Corridor from UCF, South to the Orl Intl Airport over the next 3 years in East Orlando.. Lots of incentives by the County for businesses to build, and hiring lots of higher than average(for Fl) jobs.
Again, I see no bursting of the housing boom for now in my/this area.
Just no potential for making investment money per my previous posts..
I built into this East Orlando Rural area 2 years ago as a retirement house,
so I am very well set on equity and I am not looking to sell anytime soon.
Again, I see no bursting of the housing boom for now in my/this area.
Just no potential for making investment money per my previous posts..
I built into this East Orlando Rural area 2 years ago as a retirement house,
so I am very well set on equity and I am not looking to sell anytime soon.
