Quote from Podimer:
The Orlando area has some good deals right now with condos in good areas going for as low as $30k that once sold for $200k+.
Last week, an REO 1/1 condo listed for $26k and i put in an offer for $35,600 and got outbid as the second best. There are also some nice ones in downtown Orlando that were $500k and are now $125k. The would be $40k condos rent for about $650 and the $125k for about $1300 so as you most likely have to pay cash for both as banks here are not lending for the cheap condos or those within buildings more than 40% investor owned (or some such number), i am sticking with the cheaper ones. Houses are not down as much as condos but you can get into them for about 2001 prices in good condition or wrecks for much cheaper per square foot (but i am not brave enough to venture into those as i have no clue about repair costs).
You also might check condos in Aventura or Sunny Isles, down close to Miami. I had gone out to Vegas for a look and found some of the killer deals on realtor.com, like the nice, new ones that were $200k that had dropped to $40k had actually transformed into section 8 housing, which i guess you are at least guaranteed a govt. check, no?
Anyway, strange days have found us and opportunity does some high energy thumping rhythms upon my noggin, or so i imagine
Ok, nice info. I heard from a vegas local that there's stuff in that price range, so it's good to get a confirmation.
Thanks to everyone who gave good tips in this thread. I may have to take a flight out sometime this year and go shopping.