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Old 06-11-2019, 04:52 PM
joeko23 joeko23 is offline
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I have several investment properties in Fort Lauderdale area. They are all condos since I do not live locally (NJ to be exact). In my opinion investment properties are a great idea. However if you plan on staying in the property that becomes difficult as you wouldn’t have a full time tenant to cover your monthly costs so you constantly would have to rely on temp rental which comes with its own bag of problems such as how will you find these tenants? Who will make sure the house is in good order (nothing is broken). The more tenants you have staying there the greatly likelihood of something breaking.

Additionally a home with a pool has a lot of maintenance costs. You will have to hire a maintenance company to keep up the house and pool. You will have to pay for garbage, water, electricity, cable, internet all year long regardless if someone is there or not.

If in the other hand you just rent the property you will know exactly what you monthly expenses are vs your rent.

Investment property should just be that an income generating stream. Vacation home if you can afford it should just be that. A vacation home.

If interested I can recommend some areas/developments which are priced around 120k 1-2bed condo that rent for about $1400 per month. Association costs are around $300 per month and taxes are around $2k per year.

Good luck!
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