So many American’s believe that investing in real estate is too difficult and scary. We are here to assure you that there are easier and low risk ways to invest in your future with real estate. Florida Homes By Susan has tremendous experience in dealing with investment properties in Hernando County, Pinellas County as well as the St. Pete Beach area!
The first question to answer is why Florida? According to a report published by Forbes this year, Florida possesses the most investment-friendly cities when compare to 49 other states. Four out of ten best cities for real estate investment in 2017 are located right here in our sunny state!
The second reason to invest in Florida is that the growth of the job market is stable. The job market here is one of the most up and coming markets in the nation. Unemployment rates continue to fall which contributes to a large number of young professionals to migrate to this state in search of new and better career opportunities. This fact, of course, contributes to the demand for long term rentals in Florida.
Rental properties are a great way to get started in real estate investing. There are many factors to consider such as choosing the correct property, finding good renters, maintenance on the property and dealing with the ins and outs of being a land lord. According to Nerd Wallet “home prices in the Miami area have been on an uninterrupted march up since November 2011. Recently, in Lauderdale-by-the-sea, buyers camped out overnight for a chance to snap up new condos selling for $500,000 to $1 Million dollars!” Finding property located near water or in areas with strong real estate market health will be your best location for long term financial growth.
Flipping is an often glamorized investment that can mean a large investment up front and exhaustive frustration as you encounter unexpected problems, especially in older homes. Some investors prefer to cut their overhead by living in the construction zone while they flip. This is an individual choice and more power to you if you can handle that route! When you buy low, fix up and sell at a profit the benefits of flipping can be really fantastic. It just depends on where you are in your life and how much time, money and sweat equity you are willing to pay out.
Multifamily has the potential to allow the investor to live free, or heavily discounted an when you move out you will be making money. In fact, if it’s a 30 year mortgage, and you sell once that is paid, you will have substantial profit and most likely just in time for retirement.
There are many other forms of real estate investments out there, we just touched on a few to explain that you need not fear this investment choice. It can be very lucrative and rewarding if you enjoy getting involved. Make sure you contact a real estate professional to walk you through the pit falls that could be hiding along the way and best of luck in your real estate investment!