I wish there were a way to answer that question. There are some areas that tend to have better tenants than others, but each tenant has to be considered based on their rental history, credit report and landlord references. I would recommend that you focus your efforts on finding the right unit in a high-demand area, as well as the right tenant, rather than focusing on finding an area that has good renters. Remember though, it only takes one word to turn a good tenant into a bad tenant: fired!
Before answering your question, I would like to clarify that West Palm Beach is a city (not a county) located in Palm Beach County.
There is a good selection of properties in Palm Beach County for you to choose from. but there are also other factors you should consider before making your decision for example, locations close to the beach are expensive and will limit the number of prospective tenants to only those who can afford it where locations close to downtown west palm or delray beach are reasonably priced and can be rented to tenets who enjoy the restaurants and the night life or employees who work at those establishments. I personally like a number of communities close to universities where the tenants usually stay for 4 years. I also know a list of communities within the boundaries of great schools which attract families with children.
if you are interested in hearing more about those locations, feel free to call or email me.
I help many out-of-town investors in downtoen West Palm Beach and Palm Beach with this same scenario, then through the process of finding the right property, negotiating and closing, rehab (if necessary) and then getting that poroperty rented out for them again ASAP. If you're local, you can be much more hands-on. My office in in Palm Beach. You can reach me at Clayh@goldenbearhomes.com.
Please let me know if I can be of help to you.
Nicole Marks Mason, Realtor
You can call me at 561.339.7003 or email at email@example.com
Investors have been flocking to the area for two years now and that trend will continue as the cash on cash returns are excellent. Many clamor over the low priced foreclosures in less than stellar locations where there is a higher chance of tenant and association issues and potential appreciation may not be as good as other areas. There are some great deals that will provide solid 7%+/- returns in my opinion are your best bets but so much depends on how much you are interested in investing, how much work you want to do after the purchase and your tolerance for risk.
I send out periodic investment picks to my investors and if you would like to be included on these mailings please feel free to contact me at your convenience. We dig into the metrics surrounding each community in these mailings so they are great information for those looking for the right opportunities.
I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
My company is Income Property Management and I only work with investors wanting a good passive steady cash flow with residential rentals. Besides helping you find the right property, I can also offer landlord services including finding the right tenant and then providing current tenant management services including collecting the rent, handling service calls, etc.
I have been a landlord for 10 years, have seen it, done it all when it comes to residential rental investment properties. I work with investors just like you to find the best rentals properties in Pal If interested in talking more, call me at 561-301-3742 or email at firstname.lastname@example.org