This is really early in the process but we have a “friend of a friend” that spends about 9 months per year in Ft. Lauderdale. Said friend has property there and says that the condo market actually offers rental yields in the 5 to 10% range. In other words, purchase prices have fallen pretty dramatically. Get a decent sized 2 or 3 bedroom condo for under USD100k.
I’m just doing some brainstorming around whether I should look into the Ft Lauderdale or other condo rental markets that have been seriously bitchslapped by this new economy.
Of course, it depends on the location, state of the condo, whether the condo association has enough fees coming in, etc etc etc.
Any one out there with knowledge on this market?