You will be able to find a 2bedoom / 2Bath almost anywhere in FL. I recommend looking at the transaction form a pure investment perspective and isolate a few areas with the highest Yield. Don't get all caught up in what you like. It's all about how to make money.
Example, in the West Palm Beach area, you can achieve 10%-14% return after expenses on a property. Not bad considering the banks are paying 2% on your hard earned money.
Look on the outskirts of areas with high industry and commercial business. Generally these are where people who work in the area, will live.
Based on your $55,000 budget, your expenses should not exceed: $4200 year with $900 month income to have a 12% Return. Expenses should not exceed 38% of the Gross Income.
The $4200 will include Condo Fees & Property Taxes. You should not have any additional expenses other than maintenance, which is not factored in.
I hope this helps.
If you are interested in Palm Beach County, please give me a ring.
Craig Fialkowski GRI, CDPE
Herman Group Real Estate
Great time to be a cash buyer on the Gulf Coast. Are you able to take advantage of the first time home buyers tax credit?
I would be happy to show you any property listed on the MLS. Let me know when you are coming down and I will help you find you a great deal !!
331 W Venice Ave
Venice FL 34285
941. 662. 9941
Come to Port Charlotte. CNNMoney.com declared it the #1 place to live. We have a lot to choose from and one can find a comfortable condo for the price.
Let me know how we can help you.
You are definitely headed in the right direction.........
The Eckler Team
Michael Saunders & Company
Darla Schroeder, Realtor, GRI, e-PRO
Century 21 Real Estate Champions
4350 Duhme Rd
Madeira Beach, FL 33708
One of the hot investment spots in South Florida is Lake Worth, Florida. Justed ranked #2 in the U.S for "Top 10 Most Affordable Zip Codes with the Best Schools" When investing remember location, location, location and great school systems always have value. Click link below to read more. If you need assistance or have any additional questions about our market please don't hesitate to contact me.
Todd Rettkowski, P.A., CNHS, RCC, CDPE
Certified New Home Specialist
Residential Construction Certified
Certified Distressed Property Expert
Keller Williams Realty
Direct Line: 561-735-7993
Providing Quality Customer Service and Delivering Results!
Since I live and work in Sarasota, I would recommend it highly. Siesta Key beach has been voted #2 Beach, behind Hawaii. We have lots to offer, including the Ringling Museum, art gallery's, St. Armand's Circle, just to name a few. If you would like more information on what is for sale, let me know and I will gladly assist you.
Michael Saunders & Company
ANd Sell when everyone is buying or low supply and great demand to get the greatest return or sell for highest price.
With the South Florida Condo Glut they are giving them away.