I have heard many questions from readers and friends about the real estate investment market in Florida and what to look for. In this post I will discuss the various questions I have gotten about helping you make a decision about investing in property in Florida and figuring out if it’s right for you. I will also discuss how to evaluate a good investment property and what to look for in locations when you are searching for investment real estate. Finally I will discuss questions around various locations that are good possibilities to invest in. Feel free to comment in the comments below with any questions you have regarding the real estate investment market in Florida and about the areas you are interested in.
- Why should I consider Florida as a place to make a real estate investment?
First of all Florida has amazing weather which is a huge draw for tourists throughout the state. It is also a very business friendly state, creating an environment that draws more and more businesses to the area. As more businesses come it brings with them more people looking for housing. It also strengthens the overall economy of the area the business relocates to.
- I am thinking about investing in a condominium in Florida as a real estate investment, what should I look for?
You will first and foremost want to look at the location. Locations can’t change, so you want to make sure it is situated in a good area with a strong economy and an up and coming community. You want your renters to want to live there. Consider what attractions are nearby that would bring people to your area to rent a condominium. Make sure you read the condominium complex’s rules and ensure you have no restrictions on renting your condo out to renters. Make sure you thoroughly check out the condition of your condo and that it is fully updated and not in need of any major repairs.
- I am trying to decide if buying a rental property in Florida is a good choice for me personally, what should I be thinking about to make the best decision?
First of all you want to consider if your income is stable and if you can truly afford this type of investment. You need to be able to afford the mortgage should you not have a renter for a period of time. Make sure you have good credit so you will be able to get the most affordable loan possible.
- I am planning on buying an investment property in Florida and I want to make sure I am prepared for all the pieces I need to be aware of. What do you recommend?
First make sure you pick a good location. Look at the overall area, the economy, the tourism market. If it’s all strong that is a good sign. Make sure housing prices are trending up not down.
- I would like to purchase a rental property in on the gulf coast of Florida. I prefer an area that is beachy and not too big, but close to airports. What do you recommend?
I would recommend taking a look at Cape Coral. That fits most of what you are looking for.
- I am interested in purchasing a rental property in the southern part of Florida, I would like an area that is a little more populated and on the water, what do you recommend?
I would take a look at Miami, it’s a great city with a lot going on and tourism is big there.
- What is your top pick for an area of Florida to invest in?
Hands down I would say Jacksonville. It is growing rapidly, has a beautiful location and is a business hub.
- I would like to invest in a vacation property in an area that has an airport and a lot of family activities. What do you suggest?
Orlando Florida has all of these attributes and more!
Let me know if you have any more questions for me. Happy house hunting!