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Brevard County Space Coast: Palm Bay, Melbourne, Titusville area
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Old 09-14-2013, 12:22 PM
 
2 posts, read 1,925 times
Reputation: 10

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Would like to find a local buyers agent in the Palm Bay-Melbourne-Titusville areas. I am interested in purchasing an investment property that can generate positive cash-flow and has good potential for appreciation in a 7/10yr window. I live in Phoenix and would like to work with an agent that has experience with out-of-state buyers. We've rented in Clearwater FL for 2yrs but have never visited this area. Prices have really started to bounce back here and I feel I've missed out on local opportunities. My homework suggests that FL still has a lot of inventory which is slowing the recovery. My budget is $150k (which includes basic renovations to make the property ready for rental) and I'd like to hear from you to know your thoughts on where and what I should consider. I favour a good location over a move-in-ready renovated property (so long as the home has 'good bones'). Btw, my wife and I won't have any issues qualifying for a loan and we're hoping to close within 6-9 months. 57triumph(at)gmail(dot)com
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Old 09-15-2013, 08:36 PM
 
83 posts, read 155,290 times
Reputation: 94
Most Brevard areas are a good bet, values increasing steadily, check with local realtors for details.
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Old 09-16-2013, 10:39 AM
 
2 posts, read 1,925 times
Reputation: 10
I understand that most banks will require hurricane and flood insurance to secure the loan. Any other gotcha's about owning a property in Florida? how much might that add up too for a 2000sf home that isn't in a flood zone? 2-3k per year?? Do i need to consider other things about owning in florida? termite insurance? higher property taxes or other taxes to overcome no state income tax (which I don't think i'll benefit from since I live out of state)? appreciate your feedback.
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