South Florida is a true vacation destination where it is common for many travelers own second
homes or condos. From young families, to professionals in business, to students and visitors,
the population is increasing and the demand for ownership and rentals are on the rise.
Through the ultimate highs and lows of the real estate market down South, the investment opportunities are in demand and South Florida is still the place to be!
We have seen that often times, many of the closed-sales in the Sunshine state were all-cash transactions. People are anxiously awaiting to jump into the real estate market, and we can understand why.
Although the housing market in South Florida is consistently growing, how do you know if you should invest? A better questions would be, how do you know if it is the right time to invest in real estate?
We are going to fill you in on some of the reasons why people invest in real estate in the Sunshine State.
High Deman But Cautious Investors
All real estate markets have their ups and downs. We have seen several hundred potential buyers awaiting the right opportunity to purchase. As soon as the prices decrease a bit, deals will be made and sales will be closed.
There will always be a good time to buy, and the key is to stay on top of the market by hiring a professional real estate agent. When you hire a professional realtor, you can have easy access to the latest market trends, investment properties that are just hitting the market and the latest news on the area.
Buying an investment property in South Florida is all about timing. That is why it is important to stay in the know and keep your eyes open for good deals.
The Opportunity Of Foreclosures
Many people leave their homes to go into foreclosure in South Florida. People just move out and quit. Fortunately for investors, Florida is now the foreclosure leader in the United States. There are several neighborhoods that have been flipped and are now booming. You can find properties in trending areas at affordable prices.
Do not be afraid to undertake a project like a foreclosure. Repairing damages and fixing up a property might be a hassle, but those properties are priced to sell. Once the place has been flipped, you have the opportunity to rent it out for a monthly income, or sell it to make some extra change.
The Rental Market Is Strong
Whether you purchase an investment property in a well-developed area or in a trending neighborhood, you can be sure that renters will find you. Due to the strong rental demand, purchasing foreclosures in up and coming neighborhoods can be quite a success as well.
Florida is a great place to rent out a property because of the constant travelers looking for short term or long term rentals, students from Universities throughout the area, young professionals just beginning their career and new families. Additionally, there is a consistent flow of tourists from across the globe all year round, and you cannot forget the high demand from snowbirds in the winter time.
You can expect a great return on your investment down here in the Sunshine state with a median rental price of approximately $1,500 per month.
For more information on investing in South Florida, contact Alan Abramson today. We are licensed Real Estate professionals and can assist you in the process of purchasing a South Florida investment property. Our priority is to keep our clients updated on the latest market trends and all opportunities as they hit the market.
Give us a call for more information! We look forward to hearing from you.