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Fort Lauderdale area Broward County
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Old 09-18-2010, 07:41 AM
 
Location: Punta Gorda
181 posts, read 453,563 times
Reputation: 90

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I am so tired of browsing through real estate websites looking for a place to buy as an investment.

If you had $230k to invest in a property (don't tell me how screwed up the market is, I am quite aware of that), what property would it be and why? Please provide links if possible, and unless someone can convince me to the contrary, don't bother with short sales, they seem to be a waste of time.

Keep in mind that I am a foreigner and only travel to the US 3 times a year.

If anyone know a good commercial property broker or website, please let me know. Thanks in advance...
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Old 09-18-2010, 08:41 AM
 
3,043 posts, read 7,710,346 times
Reputation: 904
Broward County Commercial Real Estate For Sale and For Lease on LoopNet.com

As I recall, you have to sign up for a 60 day trial to get the info. You do get a lot so if you find you're getting what you need, it may be worth it to subscribe.

Rather than short sales (which are a 50/50 proposition at best as you're aware), I had very good luck with a bank-owned foreclosure. I made my offer, had an acceptance that very same day, and if not for some title issues, we would have closed in a matter of weeks. With this approach, cash is king as the best deals have lots of competition.
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Old 09-18-2010, 09:49 AM
 
Location: Punta Gorda
181 posts, read 453,563 times
Reputation: 90
Awesome, thanks fauve...
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Old 09-19-2010, 03:27 PM
 
Location: Ft Lauderdale
351 posts, read 1,127,004 times
Reputation: 111
I'd pick a property in an area that is consistently desirable such as the east of U.S.1 neighborhoods (Victoria Park, Lauderdale By the Sea, Las Olas, Coral Ridge). I would choose a realtor with expertise in these areas who can vet the association for any issues. Something that would make a good vacation rental would be great IMO, provided the price was right so I could easily handle any maintenance issues and the cost of management.
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Old 09-19-2010, 06:02 PM
 
3,848 posts, read 9,324,090 times
Reputation: 2024
Are you looking for commercial or residential property? Big difference in terms of location and where is best when going between commercial and residential.
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Old 09-19-2010, 06:04 PM
 
3,769 posts, read 8,801,056 times
Reputation: 3773
Quote:
Originally Posted by SierraDog View Post
I'd pick a property in an area that is consistently desirable such as the east of U.S.1 neighborhoods (Victoria Park, Lauderdale By the Sea, Las Olas, Coral Ridge). I would choose a realtor with expertise in these areas who can vet the association for any issues. Something that would make a good vacation rental would be great IMO, provided the price was right so I could easily handle any maintenance issues and the cost of management.
Exactly - I would get a professional (not seek free real estate advice in one of the worst markets from strangers on a chat board).
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Old 09-20-2010, 09:49 AM
 
Location: Punta Gorda
181 posts, read 453,563 times
Reputation: 90
Thanks for the great advice from you all. At this stage I am not sure what type of properties or businesses I am looking for. I am quite a all-rounder when it comes to business. My main focus is to start earning US$.

My current frustration is that real estate investing and business have been part of my passion for years, but IMHO the future prospects for investing here in South Africa doesn't look good.

I own property in Florida, and my kids will probably end up living in the US, so I guess I'm starting my long walk from Egypt to the Promised Land, whatever those promises may hold. lol...
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Old 09-20-2010, 11:34 PM
 
Location: Hollywood
159 posts, read 558,941 times
Reputation: 65
well good luck with that
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