Buying Florida Foreclosures

[ElChoclo]

Could anyone with some experience buying Florida foreclosures indicate whether this is likely to be a viable investment in the medium to longterm, and major pitfalls.

 

[ElChoclo]

There does appear to be blood now, but Moodys supposedly say prices could be depressed for decades there. What about Miami as opposed to more rural swampland?

 

[speed dawg]

I bought a house in Florida and think it's the best financial decision I've made so far in my life. I stand to make a killing.

Of course, you have to take into consideration that I paid 220K in a neighborhood where the houses were going for 500K a few years ago, AND I'm in a big vacation destination so I have many options for income with it.

Need to look around the neighborhood and make sure it will bounce back. Look near the coast.

And like someone already said, yes, there is already blood in the street. I don't think the housing bust is going any lower.

 

[topcat2001]

i think housing in the US is one of the most undervalued assets right now. that said it is always hard to predict what the future will look like since median income in this country has been flat or down. you should more focus on the cash flow you can get and less on any potential appreciation. i am in the process of buying another investment property myself but at this point i am thinking of sticking close to home because its easier when there are issues.

 

[elite7]

hey I live in homestead,florida no one o here knows more about real estate on here in miami then me message me here with your contatc info