[kyle19125]

Originally Posted by Marisol Holmes

Hello. I'm looking into buying an investment property in Deltona. I live in California, but there's no way I can afford something here. I'd like to buy a home under $100,000 and have it managed by a local company. Right now I have about 40,000 in the bank, making very little interest. I'd appreciate any advice you could give me. Thanks in advance.

Read the thread above...bad investment. There are many other areas in Florida where you can buy a home for under 100K and see a better return on investment and not risk a loss. Look at cities with recovering job markets and some sense of a working local economy. Deltona has nothing in terms of an economic base, it's just a bunch of houses.

[bmw335xi]

Originally Posted by paradiddle

What is wrong with Deltona that very nice homes sell cheap?

Deltona simply isn't a desirable city. It doesn't have much going for it and no small town charm. If you drive around the area you'll know what I mean. Sanford is also cheap and much nicer.

[bmw335xi]

Originally Posted by Marisol Holmes

Hello. I'm looking into buying an investment property in Deltona. I live in California, but there's no way I can afford something here. I'd like to buy a home under $100,000 and have it managed by a local company. Right now I have about 40,000 in the bank, making very little interest. I'd appreciate any advice you could give me. Thanks in advance.

It's a bad investment, I would highly recommend you continue your search. Do you plan on living in your investment property in the future?

[bigtone]

Originally Posted by Marisol Holmes

Hello. I'm looking into buying an investment property in Deltona. I live in California, but there's no way I can afford something here. I'd like to buy a home under $100,000 and have it managed by a local company. Right now I have about 40,000 in the bank, making very little interest. I'd appreciate any advice you could give me. Thanks in advance.

Look in the Ocala area. The crime rate is nowhere near as bad as other areas in Florida, and property prices are still low, but appear to be slowly recovering.

[Marisol Holmes]

Hello kyle19125, thanks for your reply. Do you have any suggestions as to which area might show a better return and houses are still in my price range? Also, if you happen to know a trusted realtor who knows Central Florida well and at the same time has contacts with a managing company, I would appreciate the information.

[Marisol Holmes]

Thanks for your reply, bmw335xi. I do not plan on living in that home necessarily. I have about 15 years left til retirement and still don't know what I would do then. Honestly, I would leave California right away, but for job reasons can't do it. It's just very expensive. My motivation to buy a home is to put my savings to work, and it seems to me that buying a rental property in Central Florida is a good idea. I don't know any area in California where I could buy a home in my price range.

[Marisol Holmes]

Hi Bigtone, thanks for your message and your suggestion about the Ocala area. I'll look into that. Any recommendation regarding a trusted, experienced realtor would be greatly appreciated.

[mateo384]

i live in Portland, Oregon right now, and I work with a 21 year old who is from Florida. He's said to me "man, that place sucks!" I asked him where he lived. He said Deltona. I was like, "how can you base the entire state of Florida around a crappy place like Deltona?" His entire viewpoint and experience is based around living there. So, i'm talking it all with a grain of salt, lol.

[kyle19125]

Originally Posted by Marisol Holmes

Hello kyle19125, thanks for your reply. Do you have any suggestions as to which area might show a better return and houses are still in my price range? Also, if you happen to know a trusted realtor who knows Central Florida well and at the same time has contacts with a managing company, I would appreciate the information.

Check out Palm Coast. There are many homes in the under 100K price range that'll be far more house in terms of upkeep, quality and neighborhood appeal versus what you'll find in the Orlando metro area.

[Rabflmom]

Originally Posted by Marisol Holmes

Hello. I'm looking into buying an investment property in Deltona. I live in California, but there's no way I can afford something here. I'd like to buy a home under $100,000 and have it managed by a local company. Right now I have about 40,000 in the bank, making very little interest. I'd appreciate any advice you could give me. Thanks in advance.

My thoughts:

1. Have you ever owned a rental property before?
2. Are you planning on renting 12 month or short term contracts?
3. What type of rent are you expecting to get on a $100,000 home?
4. Do you realize not living in the home you will pay full taxes? Higher home owners insurance ?
5. Even having a realty company managing the rental, will you be able to come to Florida to check on the place? Make sure repairs are being made? Make sure they don't have 3 or 4 big dogs living inside?

Our old neighbor rented her house out for about 3 years before she retired. When she decided to move here, she found out that things were worse than she expected. The people living there had a dog that ruined the carpet, put holes in the walls, had a small kitchen fire that they did not report to management company or the owner, didn't pay rent from the time she told them they had 3 months to move out and then would not move. She had to take them to court in order to get her home to live in.

When she moved here she converted her house in NY into 3 apartments and ended up having to sell it because it was just to much trouble,too-especially after the management up there took a section 8 renter.