Real estate road trip day three

With hurricane sandy off the coast of Florida this morning’s breakfast on the beach was a little exciting. Fortunately we were inside the restaurant of the vero beach resort and spa… An amazing place!!! We booked our rooms through Priceline and got a great deal. When we checked in we had the option to upgrade to an oceanfront balcony suite for an additional $25. How can you say no to that. The room was enormous and the view of last nights storm was breathtaking.

Jim Thylin and I watched San Francisco win game one of the World Series in the hotel bar. I admit to being up later than I should have. I had so much fun in Vero Beach I didn’t want to leave. So much fun I will be purchasing rental property in vero beach just so I have an excuse to come back and visit on a regular basis. It is clear to me why this town is among the wealthiest in the country. It also houses a huge number of people on public assistance. I was trying to find apartment data for the area to help me understand the rental market. All but one of the apartment communities I found were tax credit, government subsidized, low income apartments. Many of them look beautiful but only allow low income people to live there. The rents are also very low because of the government subsidy. It looks like an interesting niche to rent to the working class who don’t qualify for public assistance. There appears to be very little rental housing stock available in the $800-900 price range.

We left Vero Beach ahead of the hurricane and drove through Bronson, Florida and Bell, Florida on our way to Georgia. We looked at two properties leased to the us postal service. More due diligence is needed, but I am very optimistic about the potential cashflow these properties can create.

I posted several Facebook updates and videos through out the day. I also announced our “like” to win game. Each real estate road trip Facebook post that you “like” gets you one entry into our drawing to win $100. Check www.facebook.com/investingmentor all week to follow our video updates. I will be announcing the winner of our “like” to win game on Halloween. If you want to play and we aren’t Facebook friends you can friend request me david@hasslefreecashflowinvesting.com and then you’ll have access to our zany road trip videos.

Tomorrow we drive to Chattanooga to look at Dollar General properties for purchase.

Until tomorrow… See you on Facebook.

-David Campbell

https://www.facebook.com/investingpro