Home Buying in South Florida>Question Details

Mari220, Home Buyer in South Florida, FL

what is the best area to invest in in south florida?

Asked by Mari220, South Florida, FL Tue Jan 4, 2011

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19
Hi Mary:

It really depends on your budget and your personal preference like Beach Front Condos or Single Family homes. There are fantastic deals out there if you want to buy luxury condos in Miami area, there are great deals out there if you want to buy low priced condos (and you could buy them in bulk for relatively cheaper price - again depend on your budget), there are great single family homes in gated communities in few very nice locations like boca raton. So it really depends.

Feel free to contact me and we can talk about the possible investment options in details.

Dan Statlander

Phone: 561.542.7338 | 561.245.8722
Email: dstatlander@statelandbrown.com
http://www.statelandbrown.com
http://luxury.statelandbrown.com
http://boca.statelandbrown.com
0 votes Thank Flag Link Wed May 25, 2011
hi Mari, a lot of good investments but be sure to inspect for chinese drywall which has been a HUGE problem in south florida

Read my trulia blog on chinese drywall for more information -- education is safety here. Link:

http://www.trulia.com/blog/monirmamoun/2010/10/chinese_drywa…
0 votes Thank Flag Link Thu May 5, 2011
Hi Mari,

Probably Broward County. Weston is one of the best cities in South west Florida. It depends what you are looking for. Please feel free to contact me at 954-540-3624 to discuss further.

Ligia Guzman Chacon, AHWD®,SFR
Esslinger Wooten Maxwell, Inc., Realtors
guzmanchacon.l@ewm.com
C 954-540-3624
Web Reference: http://www.lgcrealtor.com
0 votes Thank Flag Link Sat Jan 29, 2011
Broward county - the closest to Miami offers an array of beautiful homes for the 200-300 and up - which can easily be rented out.

Homes without association 3-4 beds 2plus baths 2 car garage - this is the type of home the beginner executive resides and is able to py rents between the 2K and 3k.

If you are buying as a second home, anywhere in the East or West Florida will be a paradise.
If you are a young professional you would prefer the East coast Florida within proximity to Miami, South Beach, Fort Lauderdale, Palm Beaches

For the more mature investors the Broward and palm beach county homes or Southwest Florida Gulfcoast is a paradise for those who love golfing, sailing, living in peaceful paradise.

Florida has it all! Our Paradise You can call it Home! and affordable too~
Web Reference: http://www.roblesteam.com
0 votes Thank Flag Link Wed Jan 19, 2011
I have been to Florida many times, and I have relatives and friends who live there. My observation was most of them like the Gulf side and south of Orlando.
0 votes Thank Flag Link Wed Jan 5, 2011
orlando is probably bang for your buck. prices are at 1999 levels.
0 votes Thank Flag Link Wed Jan 5, 2011
Investors, take your pick of homes
Southwest Florida is flooded with foreclosure (REO) and short sale homes that are ripe for the picking for investors. Investors are seeing this as an opportune time to purchase homes below market value. It is definitely a buyer's market. Many homeowners have lost their homes, but still need a place to live. They are being forced to rent.

Investors can pick up a home, condo, mobile home, or townhouse at a low price. Some of these properties need little fixing up other than cosmetic work. They can immediately turn around and rent them. Rental companies such as Rent Me Florida don't always have enough homes to rent. See their web site at http://www.rentmeflorida.com. Tenants are just waiting in the background for something to open up.

Investors can rent properties as annual, short term, long term, and vacation. Investors can choose to manage the property themselves or hire a property management company to do some or all of the work. This may include items such as marketing the property, handling calls from tenants, collecting rent, and maintaining the property.

If you are going to rent a property be sure to know Florida's Landlord/Tenant Law. You can find information on this at http://www.800helpfla.com/landlord_text.html. Don't miss your chance to buy these investments before the snow birds come back in town. If you would like information on properties currently available, contact me today.

Tammy Hayes, Realtor, Sandals Realty, Punta Gorda, FL - tammyhayesre@gmail.com
0 votes Thank Flag Link Wed Jan 5, 2011
My opinion the fastest growing cities are Miramar, Pembroke Pines.
Good prices, near Miami and Fort launerdale.
0 votes Thank Flag Link Wed Jan 5, 2011
Mari,

Since I live and specialize in Southwest Broward County, I can tell you that our proximity to Miami and Ft. Lauderdale, and even areas north into Palm Beach County, provides us a constant flow of people who are looking to rent. The highways provide easy access to Miami, but the prices are not as high. We have a good selection of neighborhoods that are not governed by an HOA. It all depends on your price range, but I would be glad to send you a variety of properties to look over if you want to send me your criteria.

There are so many options for you...it all depends on what you are looking for.

Good luck!
Stefanie Cohen, PA, ABR, SFR
Prudential Florida Realty
954-547-9203
Scohen77@aol.com
0 votes Thank Flag Link Tue Jan 4, 2011
Mari,

You may be opening a can of worms.....most Florida agents will tell you that the location they are living in is the best......and from their perspective, they are correct. You've heard the expression, "beauty in in the eyes of the beholder." The best place to live or invest will likely take on a variety of faces based on your own personal priorities.

Let's keep it simple....the majority of people coming to Florida want to be near the coast. Since desirability is an important factor with regards to value it probably would be a good idea to lean toward a coastal community.

Our recommendation is to focus on areas that are close to the beach, that have social and cultural availability, and that are not over priced. Many buyers are electing to avoid locations that are over crowded.

For a location with a balance of these features consider exploring the west coast from Sarasota to North Fort Myers. This area has appeal but is not over populated during the winter months.


Good luck,


Bill

billeckler@michaelsaunders.com
941-408-5363
0 votes Thank Flag Link Tue Jan 4, 2011
Mari,

South Florida is a great area and there are amazing opportunities in today's market throughout the region. I can tell you that, in my humble opinion, there is no safer investment with better returns than buying the right investment properties, in the right locations and the right price in southern Florida. I deal daily with investors in Palm Beach and Martin Counties and the biggest obstacle is getting contracts as the best deals get snapped up very, very quickly and most often it is a multiple bid situation. Fannie and Freddie now require that investors sit on the sideline for their listings for 15 days+/- to give owner occupants the first crack. I tell anybody who will listen to buy as much of the right properties as you can as this is a unique opportunity to position yourself for financial security in the future. You may be interested in reading one of my previous blogs on the subject;

http://tompriester.wordpress.com/2010/10/28/billionaire-gold…

Most of the projected returns I deal with are well in excess of 10% annually for those paying cash and planning on a hold period of at least 4 to 5 years. We run detailed financial analysis on each deal before making offers and if you would like to take a look at how I put that together please feel free to contact me at your convenience. We look closely at recent rental rates, inventory and absorption in each community to ensure your risk is limited.

Most of the best returns are found on smaller deals ($50,000 to $125,000). Do not overlook the paradise we enjoy here in the Jupiter area as there are great opportunities around here and I think because of the quality of life long term returns will be better than other areas. Over the last few months I have assisted three buyers trying to escape Ft. Lauderdale and Miami and are moving to the north county area. Here is another blog you might enjoy;

http://tompriester.wordpress.com/2010/06/04/jupiter-rocks/

If you have may have any interest in Palm Beach or Martin Counties or if I can answer any other questions, just let me know.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
Web Reference: http://www.tompriester.com
0 votes Thank Flag Link Tue Jan 4, 2011
Mari,

Without a doubt...St. Lucie County!

Out of the 67 counties that are in Florida, we have the best per square foot in properties for sale.

There are 1 or 2 that are a little lower, they are the rural counties with a lot of farm/cattle land. We have the river, ocean, excellent golf, spring training for the Mets too.

You ought to check it out before you settle on anyplace.
Web Reference: http://www.ronanddebbie.net
0 votes Thank Flag Link Tue Jan 4, 2011
Your budget will determine what areas will be good for investment. Since you don't mind a fixer upper and you prefer single family homes without HOA fees, you should focus on the areas where the houses are within your bugdet that are either on the water or in good public school districts or simply there is a good potential (you buy the worst house on the street in well established neighborhood) etc.

I could suggest some areas, but I don't know your budget.
Please feel free to call me or email me if I can be of any further help.
0 votes Thank Flag Link Tue Jan 4, 2011
Mari
best answer is-it depends!
Let me know how much you are willing to invest and I will find something for you that will match your needs.
I currently live in a great development that has fallen victim to Foreclosures, Short Sales, a bankrupt developer and chinese drywall. Despite that I bought here last year because I can see the upside over time. There are many great houses here that can be picked up and rented out while the market stabalizes.
Give me a call!
954-552-9559
douglas.flood@floridamoves.com
0 votes Thank Flag Link Tue Jan 4, 2011
The best location to invest is the place or places that are most deteriorated and or in bad shape.

These places have the most upside potential. It takes a stone hard investor to see the light. We have BUILDINGS- duplexes to 75 unit M/F dwellings that are huge money makers for the right buyers.

Overtown | Midtown | Opa Locka | Liberty City | Lemon City | Pork + Beans | Carol City | Little Haiti | Miami and South East Florida ~ the cash buyer can and will make a great deal.

WATERWAY REALTY, REALTORS
0 votes Thank Flag Link Tue Jan 4, 2011
I am looking to rent it out, it will not be my primary residence. Instead of keeping the money in the bank I rather purchase a property and rent it out. There are some great opportunities in Orlando where you can just sit on the house, rent it out and let the property appreciate, but I'd like to purchase something is South Florida..just not to sure where to buy. I rather purchase a single family because I do not want to deal with HOA fees. My entire family is in the remodeling business so fixing it up would not be a problem.
0 votes Thank Flag Link Tue Jan 4, 2011
Oddly enough that is a very common question. I have sold real estate in South Florida for the past 22 years and there is no set in stone answer. From an investment standpoint, waterfront, single family has always been the most stable. The question needs a little more clarification. Are you looking to hold onto something long term and rent it in the interim? Are you looking for a personal first or second residence? Many of the condos here have rental restrictions, perhaps no leases the first or second year of ownership. There may also be restrictions on the length of lease and number of leases per year. Single family homes have less restrictions, unless they are in a controlled community. I have several investors that are doing well with smaller single family homes, mostly short sales and foreclosures. They are rehabbing and turning over at an impressive rate with nice profits.

To give you the best answer would require some additional digging into your end goal. I would be happy to help explore your options. Just give a call or drop an email and we can find the right property or properties together.


Regards,
Karen Clark 954.294.7355
0 votes Thank Flag Link Tue Jan 4, 2011
Anywhere on the water. I, of course, favor Boca Raton. Please call or email if would like to receive an email alert when a property comes on the market that meets your criteria.

Amy Givoni, Broker
Givoni Realty Corp.
561-361-8555
amygivoni@realtor.com
http://www.amygivoni.com
0 votes Thank Flag Link Tue Jan 4, 2011
It depends -- what are you after? An investment, or a home to retire to right now?

Because if you just want to live in the home, ANY area in Florida is going to be good, if that's where you want to be. The larger cities have more foreclosures. The smaller rural areas have cheap homes regardless.

My parents own a real estate agency in North Florida. The fact is, Florida's is one of those markets that tanked. If you're interested in moving there and taking advantage of the low prices, this is a great time!

But if all you want to do is know where the investments are, I can't help -- my crystal ball is in the shop! Seriously, though -- like any state, there are places where there are jobs, and tourism, and industry, and those places may find recovery easier and faster than others. I wouldn't hazard a guess myself as to which places in Florida those will be.
0 votes Thank Flag Link Tue Jan 4, 2011
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