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Old 02-18-2010, 08:05 PM
 
14 posts, read 33,617 times
Reputation: 10

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Can it be done??

We currently live in Miami Beach (85th) and LOVE it but would also like to take advantage of the market and spend the same amount on rent as we would a mortgage. We are in our twenties with kids no where in sight and love to go out to bars, restaurants, beach, shopping. We left Plantation (Nob Hill/Cleary) because it was way to suburban for us!! That may be us in 10 years, who knows, but definitely not now!!

So we are looking anywhere east from Ft. Lauderdale to Miami, preferably a house or townhouse because we have dogs, and we just fell in love with Hollywood (Hollywood Lakes). Since 150k is on the very very low side of things, how far away from the ideal neighborhoods can be go without being in the ghetto?
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Old 02-19-2010, 04:46 AM
 
1,500 posts, read 2,934,322 times
Reputation: 1228
Here ya go (I just saved you $20k) (find out what your taxes will be before you buy)...

http://www.realtor.com/realestateandhomes-detail/Fort-Lauderdale_FL_33304_1116232708?mp=1

You could walk to the beach from here. And there's a dog beach (very limited hours) right at Sunrise & A1A but put the pooch in the car cause he's gonna be too tired to walk home.

http://www.fortlauderdale.gov/cityparks/dogs.htm
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Old 02-19-2010, 06:55 AM
 
3,043 posts, read 7,084,098 times
Reputation: 897
Quote:
Originally Posted by housingcrashsurvivor View Post
Here ya go (I just saved you $20k) (find out what your taxes will be before you buy)...

http://www.realtor.com/realestateandhomes-detail/Fort-Lauderdale_FL_33304_1116232708?mp=1

You could walk to the beach from here. And there's a dog beach (very limited hours) right at Sunrise & A1A but put the pooch in the car cause he's gonna be too tired to walk home.

http://www.fortlauderdale.gov/cityparks/dogs.htm


Nice find. I'm impressed!
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Old 02-19-2010, 07:01 AM
 
1,500 posts, read 2,934,322 times
Reputation: 1228
Aw shucks, tanx. Guess I inadvertently picked up a skill or two at that housingcrashsurvivor crash course.
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Old 02-19-2010, 07:27 AM
 
Location: Fort Lauderdale
423 posts, read 1,505,868 times
Reputation: 93
Very nice indeed. However it will probably go to a cash investor since the place needs lots of work... here are the remarks that I found in the mls system for the above property:

"Bank owned foreclosure. gutted- needs complete refurb. buyer assumes all existing violations with city. Seller will credit buyer 3% of sales price toward closing cost if negotiated final signed counter offer."
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Old 02-19-2010, 08:25 AM
 
Location: between the swamp and the ocean
216 posts, read 391,115 times
Reputation: 185
Sure it can, in this market. Especially if you find something fugly that needs cosmetic improvements. I call them the "1970s -80s specials", older homes that are solid but seriously dated complete with awful looking kitchens, wood paneling, linoleum, shag, popcorn ceilings, and the like. If you're motivated and handy, these are changes that are fairly reasonable to fix.


Things like windows are pricey to replace, however.
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Old 02-20-2010, 06:34 PM
 
14 posts, read 33,617 times
Reputation: 10
Wow!! I like it & the neighborhood! Thank you!
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Old 02-22-2010, 06:57 AM
 
Location: Fort Lauderdale
423 posts, read 1,505,868 times
Reputation: 93
I actually went to see the house yesterday and it needs everything from complete new electrical, new insulation and drywalls throughout the house, new plumbing, new floors, kitchen, a/c, appliances, paint etc etc.. my quick guesstimate was that the place needs about 75K in cash and 4 - 8 months of time to make a really nice home.

PS: The house won't qualify for financing and even with all that work, it is still worth the money (in my humble opinion)
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