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Old 11-17-2016, 08:20 AM
 
Location: Taipei
7,762 posts, read 9,321,378 times
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I know it's very unlikely, but are there any potentially gentrifying neighborhoods (early stages) where you could get a house for < $100k including any necessary repairs and that would rent for at least 1% per month? Eg, the house costs $80k all-in and rents for > $800.

I figure there's nothing like that but just want to be more thorough in my search. Thanks!!
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Old 11-17-2016, 08:42 PM
 
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No.
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Old 11-18-2016, 04:11 PM
 
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Originally Posted by newtovenice View Post
No.

Actually you probably can......

262 High Point Ct W Apt C, Delray Beach, FL 33445 - realtor.com®

1327 Lee St, Delray Beach, FL 33444 - realtor.com®
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Old 11-18-2016, 05:35 PM
 
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I thought High Point was 55+ community .... and the other house? You'd never make your money back. Needs ... work.
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Old 11-19-2016, 06:38 AM
 
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Originally Posted by newtovenice View Post
I thought High Point was 55+ community .... and the other house? You'd never make your money back. Needs ... work.
But both fit the OP's criteria. 2nd one is in a "gentrified" area but you could rent it for 1% of the purchase price!
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Old 11-19-2016, 05:05 PM
 
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Originally Posted by City Guy997S View Post
But both fit the OP's criteria. 2nd one is in a "gentrified" area but you could rent it for 1% of the purchase price!
Did you see the pic for the house that needs work? He's looking for $80K TOTAL for house/rehab. No way that house can be rehabbed for that price.

And the other property is so small ... won't get the rent he wants.

I don't know why people think PBC is cheap. It's not.
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Old 11-19-2016, 08:37 PM
 
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You could try Lake Worth west of Federal.
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Old 11-22-2016, 05:21 PM
 
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Originally Posted by newtovenice View Post
Did you see the pic for the house that needs work? He's looking for $80K TOTAL for house/rehab. No way that house can be rehabbed for that price.

And the other property is so small ... won't get the rent he wants.

I don't know why people think PBC is cheap. It's not.
I read that he has 100K to spend......wants to rent it for 1% of his investment for which he gave an 80K/$800 example. Budget was less than 100K
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Old 11-25-2016, 03:09 AM
 
Location: Taipei
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Newtovenice has it right. Looking for all-in price under 100k, which would include rehab. Rental yield at 1% would mean 1% of that all-in price.

What do y'all think of Lake Worth area west of Federal? (Thanks for the suggestion BBLW lol)
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Old 11-25-2016, 01:00 PM
 
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If you are willing to work within a 55 and older community, you may be able to do it. The biggest factor is how much work are you willing to do yourself. Palm Beach County is very difficult to do what you are looking to do as the housing prices are currently going up. When you combine that with the amount of new construction, you might be better off looking in eastern parts of Broward. Home prices are generally less when compared to Palm Beach but there are going to be trade offs.
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