Many condos in West Palm Beach or Boynton Beach have rulings that do not allow an owner to lease until the owner has lived in the condo for a year or two. Occasionally, a townhouse in West Palm or Boynton will have this ruling from the HOA, so it is always worth checking this aspect before purchasing.
Single family homes in Boynton Beach or West Palm Beach are unlikely to have any restrictions on rental. And at this time, with rentals so tight, you are likely to have no difficulty at all in finding a renter as long as you price within a reasonable rent range.
Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
I happen to live in Boynton, and work the Lake Worth-Palm Beach area as well. This entire area is prime for rental investing. Working with several prospective tenants, I can tell you the single biggest problem is finding rental housing for them.
If you would like to know more, please feel free to call me, or contact me through my web link below.
I hope this helps.
Boca's Best Broker
Certified Relocation Specialist
Member-Institute For Luxury Home Marketing
2424 N. Federal Hwy #318
Boca Raton, FL 33431
Overall the rental market is very strong and you will not have a problem finding a tenant for a annual unfurnished rental in either location. If you are looking for something that is more appropriate for a furnished seasonal type rental then that take a great deal more exploration. If that is your goal then you will need to focus on buildings that allow shorter term rentals in areas where snowbirds are willing to pay high seasonal rents during the winter months. Balancing these two can be harder than one would think but there are still great opportunities out there if you know where to look. There are also single family opportunities steps to the sand that are unencumbered by associations that might be explored depending on your budget.
The best thing you can do in today's active market is clearly define your housing objectives and determine what areas will meet your needs. Inventory levels are very low and finding homes is a much more difficult task than it was a few months ago. If you would like to further discuss your particular situation and put together a game plan to meet your goals please feel free to contact me at your convenience for a complimentary consultation. I would be honored to be on the list of RealtorsÂ® you may choose to interview to assist you and your family find the perfect Florida home.
Best of luck and if I can offer anything additional please let me know.
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
BPO Realty LLC
Until then, have a wonderful day!
Realtor, Prudential Florida Realty
President, Streamline Financial Group, Inc.
See program #9 below, then contact me to talk about how to minimize payments and reduce out of pocket costs.
1) 100% LTV- VA / (VA Jumbo @ lower ltv)
2) 100% LTV- USDA/12 mo. into Chapter 13 BKâ€¦OK Too
3) 99% LTV- FHA / (FHA to 580 score @ lower ltv)
4) 97% LTV- No monthly MI-No FHA 1.75% Fee
5) 95% LTV- CONDO
6) 90% LTV- No PMI -2nd Home
7) 90% LTV- JUMBO w/cc
8) 85% LTV- No PMI - Super Jumbo
9) 80% LTV- Invest./Rental
10) 75% LTV- Foreign Nationals
--------STATED INCOME ALT up to Super Jumbo-----------
11) 80% LTV- FIX nâ€™ FLIP Invest. Prop.
12) 75% LTV- Foreign Nationals
13) 75% CLTV- Short Sale, BK, Foreclosure Forgiveness
14) 70% LTV- Soft and Hard Money
15) LOT/VACANT LAND LOANS
16) COMMERCIAL PROGRAMS-available nationwide
Go to: http://WWW.PRO-OPTION-COM or call 888-662-4404
Pro Option Mortgage/ Florida
Prior Service U.S. Marine Corps