Investing in Sarasota (Port Charlotte, North Port: foreclosures, renters, condos)

[costamosta]

Hi,
I am from out of the state looking to put some money to work in the Sarasota area. My girlfriend is from Sarasota and explains that "Newtown" is one of the lesser desirable neighborhoods in Sarasota. Considering the market and the fact that I want to rent out property can I profit from a more under valued area due to more people not being able to buy and therefor maintaining a larger stock of renters in need of a home? I'm looking at foreclosures in the area. Will my monthly income be wasted on Homeowners Ins. since my rent would have to be low? Considering my budget (many homes are listed around 20K-50K), is this a viable rental investment area?

[gypsychic]

Originally Posted by costamosta

Hi,
I am from out of the state looking to put some money to work in the Sarasota area. My girlfriend is from Sarasota and explains that "Newtown" is one of the lesser desirable neighborhoods in Sarasota. Considering the market and the fact that I want to rent out property can I profit from a more under valued area due to more people not being able to buy and therefor maintaining a larger stock of renters in need of a home? I'm looking at foreclosures in the area. Will my monthly income be wasted on Homeowners Ins. since my rent would have to be low? Considering my budget (many homes are listed around 20K-50K), is this a viable rental investment area?

In a word no, unless you want to buy in the least desirable, most crime riddled area of the town. You get what you pay for. Pay a little more and get into a better area. Even then, you will be competing with massive amounts of other foreclosures being purchased by other investors. I'd do some careful research.

[SoFLGal]

You could pick a 1960's-70's home, there are some 2/1 and 3/2's in North Port and Port Charlotte in that range. There are 40 homes in North Port listed from 29K-50K and most are foreclosures. Most are under 1000 sq ft under A/C. In Port Charlotte there are 62 homes from 27K-50K.

[helojafo]

If you've never been a successful landlord in a fairly high crime neighborhood, then I wouldn't make this your first attempt. If you believe we're going to pull out of this economic mess in the next few years then you might be better off buying some of the townhomes or condos in gorgeous neighborhoods that you can break even on. Some really well built units in great areas can be picked up now for $110 to $150K. Things that were selling in the high $300's and low $400's a couple years ago. Best wishes...

[Kapalua]

I dont know about you people, but I just read that is this CURRENT CRISIS is not mended, they the goverment(controlled and owned by the global elites you know the zionist jews) they will start MARITAL LAW, freedoms will be all gone, and who knows how long that would last. I have read lots of bad NEWS this week, suggest for everyone to stock up on some foods, they the uS GOVERNEMT is going to use another FALSE FLAG, and say the dead man bin laden ( he died in Dec 2001 and his real American name TIM OSMIN who trainned by the CIA and acted he was some JERK in the Middle East, and that fake Al Qaeda made up by the global elites ( government ( are going to blame FAKE PERSON who is DEAD and FAKE TERRORIST GROUP when they want to BOMB places in the USA. This would take place before KENYIAN BORN OBAMA becomes ? President? Now by the Constitution he can NOT become the PRESIDENT, he would have to be born in the USA. So there are people going to COURT over this. The other one is that they say in 3 MONTHS our own GOVERMENT is going to attack our OWN PEOPLE. Something to do with the POWER PLANTS and they have RV TRAILERS up here, POLICE OFFICERS have helped get them over there, and they say, thEY ARE GOING TO PLANT EXPLOSIVES all over the USA that would KILL 100's of one hundred thousands of people, the article said to INFORM PEOPLE... so stock up on foods eetc because your STUPID BUSH ADMINISTRATION is going to blame this on BIN LADEN the DEAD man and fake Al qaeda the fake terroirist group they the gobberment made up Better be safe than sorry. APFN.Net is where I read this.

[Big House]

Originally Posted by Kapalua

I dont know about you people, but I just read that is this CURRENT CRISIS is not mended, they the goverment(controlled and owned by the global elites you know the zionist jews) they will start MARITAL LAW, freedoms will be all gone, and who knows how long that would last. I have read lots of bad NEWS this week, suggest for everyone to stock up on some foods, they the uS GOVERNEMT is going to use another FALSE FLAG, and say the dead man bin laden ( he died in Dec 2001 and his real American name TIM OSMIN who trainned by the CIA and acted he was some JERK in the Middle East, and that fake Al Qaeda made up by the global elites ( government ( are going to blame FAKE PERSON who is DEAD and FAKE TERRORIST GROUP when they want to BOMB places in the USA. This would take place before KENYIAN BORN OBAMA becomes ? President? Now by the Constitution he can NOT become the PRESIDENT, he would have to be born in the USA. So there are people going to COURT over this. The other one is that they say in 3 MONTHS our own GOVERMENT is going to attack our OWN PEOPLE. Something to do with the POWER PLANTS and they have RV TRAILERS up here, POLICE OFFICERS have helped get them over there, and they say, thEY ARE GOING TO PLANT EXPLOSIVES all over the USA that would KILL 100's of one hundred thousands of people, the article said to INFORM PEOPLE... so stock up on foods eetc because your STUPID BUSH ADMINISTRATION is going to blame this on BIN LADEN the DEAD man and fake Al qaeda the fake terroirist group they the gobberment made up Better be safe than sorry. APFN.Net is where I read this.

THAT MUST BE SOME GOOD STUFF YOUR WORKING WITH. Have you read the safety instructions? I'm sure it says DO NOT INHALE! THE SIDE EFFECTS INCLUDE HALUCINATIONS! Seriously you should go to the hospital right now and get yourself examined. - Better safe than sorry.

[FLBob]

Originally Posted by Kapalua

I dont know about you people, but I just read that is this CURRENT CRISIS is not mended, they the goverment(controlled and owned by the global elites you know the zionist jews) they will start MARITAL LAW, freedoms will be all gone, and who knows how long that would last. I have read lots of bad NEWS this week, suggest for everyone to stock up on some foods, they the uS GOVERNEMT is going to use another FALSE FLAG, and say the dead man bin laden ( he died in Dec 2001 and his real American name TIM OSMIN who trainned by the CIA and acted he was some JERK in the Middle East, and that fake Al Qaeda made up by the global elites ( government ( are going to blame FAKE PERSON who is DEAD and FAKE TERRORIST GROUP when they want to BOMB places in the USA. This would take place before KENYIAN BORN OBAMA becomes ? President? Now by the Constitution he can NOT become the PRESIDENT, he would have to be born in the USA. So there are people going to COURT over this. The other one is that they say in 3 MONTHS our own GOVERMENT is going to attack our OWN PEOPLE. Something to do with the POWER PLANTS and they have RV TRAILERS up here, POLICE OFFICERS have helped get them over there, and they say, thEY ARE GOING TO PLANT EXPLOSIVES all over the USA that would KILL 100's of one hundred thousands of people, the article said to INFORM PEOPLE... so stock up on foods eetc because your STUPID BUSH ADMINISTRATION is going to blame this on BIN LADEN the DEAD man and fake Al qaeda the fake terroirist group they the gobberment made up Better be safe than sorry. APFN.Net is where I read this.

Whow, what the heck does this have to do with investing in Sarasota. Sounds like a really bad trip.

[atroxanautin]

Originally Posted by Kapalua

I dont know about you people, but I just read that is this CURRENT CRISIS is not mended, they the goverment(controlled and owned by the global elites you know the zionist jews) they will start MARITAL LAW, freedoms will be all gone, and who knows how long that would last. I have read lots of bad NEWS this week, suggest for everyone to stock up on some foods, they the uS GOVERNEMT is going to use another FALSE FLAG, and say the dead man bin laden ( he died in Dec 2001 and his real American name TIM OSMIN who trainned by the CIA and acted he was some JERK in the Middle East, and that fake Al Qaeda made up by the global elites ( government ( are going to blame FAKE PERSON who is DEAD and FAKE TERRORIST GROUP when they want to BOMB places in the USA. This would take place before KENYIAN BORN OBAMA becomes ? President? Now by the Constitution he can NOT become the PRESIDENT, he would have to be born in the USA. So there are people going to COURT over this. The other one is that they say in 3 MONTHS our own GOVERMENT is going to attack our OWN PEOPLE. Something to do with the POWER PLANTS and they have RV TRAILERS up here, POLICE OFFICERS have helped get them over there, and they say, thEY ARE GOING TO PLANT EXPLOSIVES all over the USA that would KILL 100's of one hundred thousands of people, the article said to INFORM PEOPLE... so stock up on foods eetc because your STUPID BUSH ADMINISTRATION is going to blame this on BIN LADEN the DEAD man and fake Al qaeda the fake terroirist group they the gobberment made up Better be safe than sorry. APFN.Net is where I read this.

Ok

[kbuild]

I did not think there was peyoti in SW FL

[FLBob]

No but I've heard (not experienced) that there is a mushroom that grows in the pastures....