Home Buying in 33487>Question Details

Ger, Both Buyer and Seller in Boca Raton, FL

with regard to investment propertys( condos or townhomes ) which are the communitys that welcome such investors .?

Asked by Ger, Boca Raton, FL Sat Aug 25, 2012

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Dear Ger,

Your question is probably better to be what developments should I be looking at to meet your investment goals. In my opinion too many investors flock to what appear to be the "best deals" because the have the lowest price or are foreclosures. Over the past couple years anybody buying investment properties has done quite well as the lowest priced units have bounced hard off the bottom and you will see developments that have provided incredible returns.

When the timing is right not even a blind squirrel can lose money but for solid returns I would look for safety and that is always found in the best locational and the best quality and there are still some great opportunities out there if you know which rocks to look under.

There are two aspects to consider when looking into the purchase of an investment property; the return on revenue you can reasonable expect based on the purchase price and the location and how it might be affected by future price appreciation.

When looking at project returns you need to carefully evaluate the purchase price and ongoing expenses like association fees, property taxes, insurance, etc. You also need to thoroughly investigate the current rental climate in the area surrounding the property. What are similar properties renting for, how quickly are the renting, how many similar properties are out there for rent, etc.

You also need to carefully evaluate the condition of the property and determine what expenses may be incurred in getting the property into rental condition. Many of my clients prefer to put hard surface flooring throughout as it stands up to wear and tear better than soft goods. One thing many investors overlook is if you are in an association will they accepts pets. Many pet lovers have a difficult time finding home that will accept their pets and this can be a huge benefit to investors. If you find a pet friendly situation it will make it easier in most locations to find tenants willing to pay a little more.

Future appreciation is hard to put a precise number on but the better the location the higher that appreciation will probably be. You can expect a little lower up front returns, in my area from 4% to 6% cash on cash returns compared with up to 10% in less desirable areas and product types.

The best thing you can do is locate a qualified Realtor who can properly assist you in locating good opportunities and be ready to act quickly when the right opportunities present themselves. If your search brings you to Palm Beach or Martin Counties I would be very happy to work with you towards meeting your goals.

Best of luck and if I can offer anything additional please let me know.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"


Keller Williams Realty
561 308-0175
tom@tompriester.com
0 votes Thank Flag Link Sat Aug 25, 2012
Short and Sweet:

Town homes for sure.
Lower HOA fees or the owner.
Less Restrictions, such as Pets, Trucks, 55+
Higher Rent in most unless on the beach, but then your paying 500 to 2000 a month in HOA Fees.
Better resale Value. Most Townhomes are FHA approved witch opens the market for alot more buyers.
I have a town home near FAU. We get 2400 a month in rent. Taxes are 4,000 a year. Hoa is 230 a month.
Hope this helped.
1 vote Thank Flag Link Wed Sep 19, 2012
Watch out that those deals you might be looking for don't have toxic Chinese Drywall. If it sounds to cheap or good to be true, there is probably a reason why a property is listed on the cheap. Also, investing, don't forget location, location, location.

“The most important thing a buyer can do is first of all work with a buyer broker.” As stated by AARP and the Consumer Federation of America from REALTOR® News.

There is typically no extra/hidden or additional cost for you to obtain Exclusive buyer broker services in your real estate transaction. In the State of Florida only a buyer broker who represents the buyer can negotiate for the lowest price and best terms for the buyer. When you work with an Exclusive buyer broker, the brokerage firm does not list any homes, there is never a conflict of interest in your transaction. The State of Florida assumes that all buyers know all agents are transactions brokers who do not represent anyone one in the transaction and that the agents have very limited if any liability in the transaction. Unless, an agent or broker tells you they will represent you exclusively the agent is not required to disclose to you that they are a transaction agent or broker.

On my informative homepage http://www.FloridaBuyerBroker.com you will learn about:

The #1 Mistake Real Estate Buyers Make – explains buyers relationship to agents/brokers in FL
21 Critical Mistakes Buyers Make
20 Things the Listing Agent Does Not Tell You about Short Sales
Short Sale Fraud
Foreclosures - the Wild West of Real Estate
Unrealistic Buyer Expectations
Buyer Beware
Chinese Drywall

There is no obligation required of you to access this important free educational information on my homepage.

A buyer broker is required to give the buyer loyalty, confidentiality, care and diligence, accounting, disclosure of all known pertinent facts and your financial status is protected.

I am licensed to sell real estate in Florida since 1981.

Serving Lee and Collier County Southwest Florida

Beverly Howe, CIPS, ABR, GRI, TRC
Florida Buyer Broker
Informative homepage: http://www.floridabuyerbroker.com
Owner – Exclusive Buyer Broker
Email: broker@floridabuyerbroker.com
Local Direct: 239-601-2013
US and Canada Toll Free: 1-800-283-7393
Cell phone: 239-269-2766
0 votes Thank Flag Link Fri Sep 21, 2012
Short and Sweet:

Town homes for sure.
Lower HOA fees or the owner.
Less Restrictions, such as Pets, Trucks, 55+
Higher Rent in most unless on the beach, but then your paying 500 to 2000 a month in HOA Fees.
Better resale Value. Most Townhomes are FHA approved witch opens the market for alot more buyers.
I have a town home near FAU. We get 2400 a month in rent. Taxes are 4,000 a year. Hoa is 230 a month.
Hope this helped.
0 votes Thank Flag Link Wed Sep 19, 2012
Short and Sweet:

Town homes for sure.
Lower HOA fees or the owner.
Less Restrictions, such as Pets, Trucks, 55+
Higher Rent in most unless on the beach, but then your paying 500 to 2000 a month in HOA Fees.
Better resale Value. Most Townhomes are FHA approved witch opens the market for alot more buyers.
I have a town home near FAU. We get 2400 a month in rent. Taxes are 4,000 a year. Hoa is 230 a month.
Hope this helped.
0 votes Thank Flag Link Wed Sep 19, 2012
Dear Ger,

Your question has many answers. What is the best phone number to contact you at? My partner who is the expert in our investments division would be glad to assist you with all of your questions as well as represent you in finding the best investment property or properties that fit your needs and interest.

Best regards,

Patty H. Sokoloff
Sokoloff Real Estate Group
954.372.6226
Patty@Sokoloffrealestategroup.com
Keller Williams Realty
0 votes Thank Flag Link Tue Sep 11, 2012
Hi Ger,
Whether condo or townhome is not much difference whter one is better than the other, in this market everything is at an all time llow and everything is a good investment and can only go up in value from here. Now if you referring to buying as an investor to flip in a few years and rent out vs holding on to it or living in it as an investment, let me just tell you alot of associations put in place no renting 1st 1 or 2 years of ownership to push away the immediate flippers or investors that are not owner occupants. Many of my clients have purchased condos and live out of state but take advantage of todays prices and use there property for the winter or just have a vacation place to use when they want. then in a couple years they have the choice to start renting it out, resell it, or just plain keep it as they see values rise. more than 50% of complexes allow leasing units out. I hope this gives you a better vision, Let me know if you need a local Realor with 20 years experience who knows the area well.
Best Regards,

Russ Greenberg, Realtor RELO "Experience Counts"
Florida's Real Estate Leader since 1926, 30 offices serving South FL

(561) 445-8782 -direct
Keyes Real Estate, Mortgage, Title, & Insurance
Boca Blue Lake Office
1200 Yamato Rd Suite B-1
Boca Raton, FL 33431
0 votes Thank Flag Link Sat Sep 8, 2012
I am working on getting a house listed that is in foreclosure. It was on the market for $1,500,000 and did not sell, It was foreclosed at $950,000. if you want details on it i will send them to you Tuesday after I meet with the bank. I also have a lender that will lend over 90% without insurance cost if you have a 720 or better credit score.

I recommend you buy under the current market price so when you sell you will gain some equity.

Call or email me if you have any questions.

561 353 7793

grandparent3@gmail.com
0 votes Thank Flag Link Sat Sep 1, 2012
Rather than asking which communities welcome investors, you may want to work with a real estate investment advisor to see which communities will give you the best return on your investment. Also, you need to decide which types of property will provide you the best long term or short term return on the money you invest.

Communities rarely advertise a desire to have investors. Therefore, it may make sense for you and your real estate investment advisor to create an investment profile that works best for you.

Are your goals short term or long term? Are you looking to buy and rent on long term basis? Buy and hold short term or long term? Flip properties? (not recommended for novice investors). Do you prefer single family or multi-family properties?

All those questions are important before you decide to invest and long before you choose a community in which to invest.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
0 votes Thank Flag Link Sun Aug 26, 2012
Hi Ger,

There a many that will welcome investors and many that won't, so it would be better for you to find a Realtor and work with him/her. A Realtor will be able to tell you which communities are "investor friendly" and which ones require you wait one year or more to lease the property.

Best regards,

Nitza Ramos
Realtor & Lic. Community Association Manager
East Coast Realty Group LLC
11820 Miramar Pkwy
Miramar, FL 33025
Direct: 954-856-3156
Fax: 954-934-9530
Website: http://www.nrcv.com
**Blog: ask4realtor.blogspot.com
0 votes Thank Flag Link Sat Aug 25, 2012
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Number one, avoid Condos if you need a mortgage and want the lowest down payment and rate.

Numbers two, avoid Condos if you want the best appreciation

Number three, avoid Condos if you want access to the biggest range of possible renters

Number four, avoid Condos if you want to be able to sell the property in the future as condo loans will always be more difficult for most buyers to obtain

Number five, there is a reason lenders consider them "Toxic" properties.

Go with a Townhome

www-pro-option.com
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0 votes Thank Flag Link Sat Aug 25, 2012
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