Florida Investor Purchases FLATLINE | Rental Units Pile Up

classic real estate downturn , by the book, over saturation, rental market struggling , over building etc, this is classic, and the craziness during the coronatime and rising mortgage rates all classic

🍿I plan to sit back and enjoy the show.

Never underestimate the number of stupid people that will move to Florida.

Miami prices are not moving down . 70% of properties were a cash . Nobody need to sell out now except some very old condos

Sold in brevard county in February. House was on the market 7 months though, had a crap agent dealing with it but once I got more involved it moved fast. Market was wack though, I wanted to sell a year earlier in summer 2022 but decided to jack rent for 1 more year. Wish I had sold in 2022 and threw it into the stock market instead but so glad I got out when I did. Homeowners and taxes doubled in 2 years

The circle of life. Mother Nature wants her property back.

There are tons of homes owned by snowbirds who are vacant half the year and this needs to change. If you’re not a full time Florida resident GTFO !

Florida is becoming increasingly unlivable thanks to the weather, insurance and real estate market. Basically, global warming will continue to make Florida unbearable. The last time I was there it was so hot that it was miserable. I used to want to retire there, no way I would move there now. I don’t even want to visit anymore. 🤨

Nothing could entice me to return to landlord status. I started in the 70’s people were decent and responsible. Today people are slobs, clueless, irresponsible , and with no understanding of what shelter actually takes or costs. The courts are no help ,the courts actually encourage such useless behavior.

Drove I 75 through Lee county yesterday..literally hundreds of apartments condos just built and more going up..why do they keep building???

Shook you off your game guard dog 🐕 😂

If a studio apartment is too expensive for a high skill trade worker with no other debt how the heck do they expect to rent or sell anything.
Add to that forced to purchase insurance that does not honor their terms.

I work and live in Florida and it’s horrible now. I would never buy in Florida ever. I rent and when I retire I’m leaving Florida and buying elsewhere. Florida is too crowded, people are selfish and rude, too hot and muggy, the roads are constantly torn up, the list goes on. I absolutely hate it here. Honestly, I can’t understand why anyone would move here. If it wasn’t for my job nothing could make me ever come to this hell hole.

Schadenfreude
Schadenfreude
Schadenfreude

Sold my home in Burnt Store Isles in 2019. Yeah, I missed out on the Covid real estate boom {who saw that one coming?}, but look at things now? I knew when Allegiant Airlines began construction on that huge condo complex in Charlotte Harbor they would loose their ass. How did that turn out? I plan on returning next year or maybe 2026. I need to see complete carnage in the market before I buy back in. Once the boomer generation money is out of the picture, it will be a completely different market. I believe we are seeing the beginning of that now. And foreign investment? Forget about it. This is global. Even the luxury markets in London and NYC are sharply down.

Been here for 4 years. I like the nature here, living near the ocean, but as usual, people ruin everything. I’m over it. Will be moving asap.

Good stuff. One of the worst aspects of the real estate market, as you pointed out, is the degree of competition between investors and first time buyers for the same properties. As a parent of four now young adult kids, I want them to be able to afford a home. There are still way too many investor dollars chasing opportunities that negatively impact the middle class. Thank you Ben.

Im sitting here in the northeast waiting on the snow storm in my cabin in the woods grateful that im here and feeling bad for the locals in Florida that have no choice but to be there.

Good video & information

How can you pay cash for something when you can’t afford to insure it when hurricanes come thru every year a couple of times

All of Florida should be covered with RV parking lots, especially along the coasts. Rent out hookups and parking to RVs and when the weather threatens, leave town for a few days or weeks. No massive cleanup from ruined houses; no billion dollar insurance payouts needed; come back to good weather again. The only buildings should be reinforced infrastructure and hospitals, hurricane and flood proof high rises, etc. It's well past time to realize weather changes are real. The insurance companies know this.

I’m sure everything will work out. From what I hear … Republicans have all the answers.

Florida is a horrible unstable state! It’s a 💩 hole

It’s a dumpster fire! Thank republicans

Still building like mad

The house you referenced that sold for $88k; It may have flooded {probably did if I had to say} but what is certain is this: It is located in a flood zone and insurance is going to be prohibitively expensive. I would just tear it down and build to the Miami code and be done with it. The lot alone is worth something, flooded or not. They have been doing allot of tear down-new construction in the areas close to where that is since 2004. Everything that has gone up has been elevated, as most all of downtown PG is a flood zone. And it doesn't even take a hurricane for it to flood out either. There used to be a huge mobile home park near that home that Charley all but wiped off the map.

Look how low that home sits. Same elevation as the street???

Ask DeSantos and Rick Scott who refused to allow the powers to be say the words "Climate Change or or global warming" in hopes nobody will listen. Gotta now! Florida will be the first to go bankrupt under trump administration. MAGA how things going for you and your dictator

Wages in Florida can not support current home prices.

It's called a bait and switch... people or families always want to come to Florida a.k.a. Paradise to retire or " start over" only to be Hoodwinked bamboozled and scammed and now they want to cry foul.. Your not better.. your bitter 😂🤣

Thanks very good and honust story

conservatives wreck every place they govern. STOP VOTING FOR CONSERVATIVES

I took sailing lessons at yacht club there 😢I still love my God given freedom in Florida. Punta Gorda is way better than Ft Meyers for restaurants and shopping etc.

I told you... soon you will not be able to sell homes in Florida for$1... give it one more year

Ty

Florida drained its swamps!

Ban STR in residential zoned housing .

Shouldn't live on a Swamp lmao ! Black Rock are dumping their 9000 properties on the market !!!

After living in Florida for sixty years we decided it was time to leave back in 2020. Our reasons were, high cost of living, car and home insurance, property tax, constant worry about hurricanes, crowded roads, crime and year round heat /humidity. Another big reason we left is the poor health care, long waits to see our doctors, and every one of them rush you through the visit you’re paying for. We are so glad we got out when we did. People still believe Florida is a retirement paradise but it’s not, not anymore. Do your research before falling into the Florida is great trap and no I’m not going to disclose where we moved to but we love it here!

The seller gave his nephew a great break on the sale price of his home.

Rents are being propped up by algorithmic collusion. This is a crime.

The new book, The Bubble That Broke The Bank argues that Florida will not recover until 2030. The easy money has become hard money with high rates. The collapse is here.

Good go home ,good riddance ,and go back from where you came from !!!

Investments are the roots of financial security; the deeper they grow, the stronger your future will be."

Perhaps the pics were prior to the listing? Misleading and fraudulent but not surprising 🤷🏼‍♀️ I enjoy your videos. Thanks 🙏

The bags for the bag holders are rising big time

Want to sell all those condos in 1 day ? Make Canada the 51st state

I have to laugh at the agents taking these listings that are never going to sell. In my neighborhood in Naples there are 4 exact same units, i mean EXACT all for sale on the same street. 485K, 425K, 355K & 375K. Why would you list at 485 and 425 when there are 2 units with much lower prices? The 485K had a open house sunday and NO one came. I spoke with the realtor and he said “its next to the community pool, therefore its worth more”. I laughed out the door. Okay dude there are 26 units in here they are ALL near the pool.

"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.

"Give me control of a nation's currency, and I care not who makes its laws."- Mayer Amschel Rothschild.