Great time to invest and rent out properties here, and also Miami.
Prudential Florida Realty
You have received some great responses to your question about the rental market in Fort Lauderdale / Miami! The market is definitely strong as many have stated.
To help you see the different levels of rent that properties are commanding, here is a link to current rental homes on the market: http://luxurylivingfortlauderdale.com/fort-lauderdale-luxury
You can sort through properties based on price and area. This might help you decide the type of investment property that would help you achieve your goals.
Let me know if you have questions or would like my help finding your new condo.
Chad Gray PA | Realtor
Luxury Living Fort Lauderdale
Coldwell Banker Residential Real Estate
100% of clients rated our service as "EXCELLENT"!
Ask your Fort Lauderdale real estate agent about the monthly condo association dues: you want to know if the association carries a sufficient reserve, if the dues have risen lately, if there is an assessment due, and what percentage of owners of the building are in foreclosure or short sale.
How old is the building? How old is the roof? When were the balconies last repaired? Does the building have impact doors and windows? Does the building expect to be putting them in soon? All of these are, or will be costs that the condo association (and, therefore, the owners) will have to cover.
That information will give you an idea of whether or not the monthly condo fees are likely to rise dramatically in the near future.
You may want to avoid Fort Lauderdale Condos or Maimi Condos where there are many short sales or foreclsoures in the building. Yes, you may be able to purchase a condominium in Fort Lauderdale at a bargain price, but that may indicate that the building itself if not in good financial condition.
Because your income is determined by the monthly rent you can charge, minus your taxes and condo association dues, the financial health of the condo association, along with planned future expenses, will be your main concern.
Once you are aware of that information, and you see a clear profit between monthly expenses and rental income, ask your realtor in Fort Lauderdale to make an offer.
Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
It's a good idea to purchase a condo close, within 10 to 15 minutes, from the beach. In that case you take advantage of seasonal rentals as well as yearly. If you would like, you may fill in form on line linked below and I'll be glad to show you the best options possible in your price range.
Joe Roman ERA Herman Group
Depending on your budget, you may be better off buying a single family house, or a duplex.
There is a great market for rentals in the Ft. Lauderdale area. I have several investors who have changed their strategies from buying condos to buying single family homes and multi-family homes. The benefit to owning a single or multi-family home is that you do not have the restrictions on renting again if the tenant skips out. You can rent as soon as you purchase and rent again as often as you wish.
If I can be of further service please contact me directly. I hope to hear from you soon.
I own a Townhouse in Davie/Ft. Lauderdale that I have up for sale and in my subdivision, you can use these townhome's for rental property as soon as they are purchased. I have a 3 bedroom, 2.5 bath end unit and it does not need anything done to it. It has newly tiled floors, updated kitchen with all the appliances, including a hot water heater, washer and dryer. If your interested, let me know. You can contact me at firstname.lastname@example.org...
However, MOST condos will not allow new owners to rent out first 1-2 years of ownerships; others allow only one rent per 12 months (so if a tenant breaks the Lease or you have to evict, you can't rent for the balance of the 12 months period)....
Meir Aloni & Team
CRS (Certified Residential Specialist)
CDPE (Certified Distressed Property Expert)
RECS (Real Estate Cyberspace Society)
Successfully selling Broward County since 1986!
Direct phone# 954-338-5220 http://www.WeSellBroward.com
All Star Realty Inc.