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Fort Lauderdale area Broward County
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Old 03-18-2017, 06:36 AM
 
1 posts, read 1,506 times
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I want to buy a house purely for investment purposes, and by investment I mean renting it out. I have no intentions in living in it.

Given the somewhat expensive prices of some of the best areas in Broward county like Weston, and parkland, I've decided to go with less expensive but decent areas.

I have no personal preferences because like I have mentioned I won't be living in the property myself. So from a pure investment perspective, I'm looking for areas that should be in high demand with good amenities, low crime rate, and good schools. Those features are what a lot of people, especially families would look for. I don't want to buy a property that would give me a hard time to rent out.

having said that, I have done a bit of research my self and narrowed it down to the following cities. Which ones would you recommend and which ones would you eliminate?

Tamarac (west)
Deerfield Beach
Sunrise (west)
Margate
Plantation (west)
Pembroke Pines (west)
Miramar (west)
Hollywood
Fort Lauderdale

Any other cities not mentioned here that you would recommend?

Your input is much appreciated.

Thanks,
John
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Old 03-18-2017, 08:35 PM
 
Location: Weston, FL
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No Weston?
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Old 03-19-2017, 10:51 AM
 
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Plantation - west
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Old 03-20-2017, 08:35 AM
 
Location: Florida
1,049 posts, read 951,073 times
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From your list, if you want more demand I would probably go with Pines or Hollywood. Fort Lauderdale is broad and most of the single family neighborhoods border higher crime areas. So I don't know if you're going to be looking for that. West Plantation & Miramar are decent options, but just like FTL, they border areas known for higher crime (i.e. Lauderhill & Miami Gardens).

The others are ok but they are far from the commercial centers of Broward or Dade, which makes them less appealing to people that have to commute, and therefore might spend more time on the market. I am an investor and personally, I prefer some of the lower income areas, they are easy to rent and tend to be very centrally located. I like Miramar, Hollywood, Dania, Hallandale, and some areas others might avoid.
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Old 03-20-2017, 04:57 PM
 
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Boca Raton, Parkland, and Weston would top the list of suburbs. I give Boca Raton an edge because it is located further east closer to the beach, and has way more shopping and commerce than the other two.

The next tier down would be Coral Springs, Sunrise, Tamarac, Coconut Creek, Davie, Cooper City, and Pembroke Pines (western half). These areas should hold their values fairly well.

The beach cities are great, but not family oriented, and public schools are poor in those parts. That said, Fort Lauderdale would be a great place from an investment perspective because the city is exploding with new development. There is high demand to live east near the coast. I could see Fort Lauderdale becoming a mini-Miami in the next 10-20 years. The population just in the city is expected to double due to new highrise construction. It is really apples and oranges to compare Fort Lauderdale with the suburbs further west though.
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Old 03-21-2017, 08:24 AM
 
Location: Florida
1,049 posts, read 951,073 times
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Quote:
Originally Posted by Nolefan34 View Post
Boca Raton, Parkland, and Weston would top the list of suburbs. I give Boca Raton an edge because it is located further east closer to the beach, and has way more shopping and commerce than the other two.

The next tier down would be Coral Springs, Sunrise, Tamarac, Coconut Creek, Davie, Cooper City, and Pembroke Pines (western half). These areas should hold their values fairly well.

The beach cities are great, but not family oriented, and public schools are poor in those parts. That said, Fort Lauderdale would be a great place from an investment perspective because the city is exploding with new development. There is high demand to live east near the coast. I could see Fort Lauderdale becoming a mini-Miami in the next 10-20 years. The population just in the city is expected to double due to new highrise construction. It is really apples and oranges to compare Fort Lauderdale with the suburbs further west though.
Truth about Ft. Lauderdale, downtown is becoming unrecognizable and there is some heavy gentrification going on east of Powerline road. I agree that in a few years it will be twice the size, so it is a good time to invest there.


However, the prices are starting to go up as result and at a pretty rapid pace. I just bought a rental in the area. I'm finding a lot of investors from Miami now have their eyes set here because the Miami market is so saturated.


Personally, I don't focus so much on whether a place is family-oriented or not, that is something I look for when I plan to live there. I focus more on how central it is for commuting purposes, and of course safety. Then again, I buy cheaper stuff, so maybe the OP has loads to spend in which case I'd say Boca .
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Old 03-21-2017, 09:13 AM
 
Location: Coral Gables / Bonita Springs
2,128 posts, read 2,328,134 times
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Quote:
Originally Posted by WrongStreet View Post
I'm finding a lot of investors from Miami now have their eyes set here because the Miami market is so saturated.

Yes, a lot of the Miami Investors left and went to Broward a few years ago..then that started to get priced out so then they went up to Orlando and now Jacksonville. Both those areas are booming and they generally lag 1-2 years behind Miami for a R.E boom. For the last 2 years, Orlando has been building apartments at a rapid pace because of all the townhomes/single family homes that were snapped up in 2013-2014. But there are still great deals up there as well.

with regards to Broward, I agree with WrongStreet. Stay near jobs/public transit in a decent area and you'll be solid. If you get a single family out West, you'll need to keep the lease dates prior to July to capitalize on all the families moving before school season starts. If your rental goes vacant in November, you're pretty much stuck until January before you have a chance at renting it. (of course there are always exceptions, but this is a general rule of thumb)
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Old 03-21-2017, 12:29 PM
 
Location: Weston, FL
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Also seeing how the new Brightline train will have a stop in downtown Fort Lauderdale, and in downtown Miami, only 30 minutes apart... downtown Fort Lauderdale sounds quite attractive.
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Old 03-26-2017, 07:46 AM
 
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Lots of people would love to have a "Hollywood" address...Its a staple name in Florida compared to newer names.Hollywood tends to have higher real estate just due to the name. Only my opinion!
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Old 03-27-2017, 08:42 AM
 
Location: Taipei
7,775 posts, read 10,079,497 times
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Quote:
Originally Posted by WrongStreet View Post
T Then again, I buy cheaper stuff, so maybe the OP has loads to spend in which case I'd say Boca .
What is "cheaper" stuff? And how much is rent? Thanks!
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