Kathy Demico, Other/Just Looking in Cleveland, OH

Do you think this is a good time to buy a reasonably priced condo in Winter Haven Florida for rental purposes?

Asked by Kathy Demico, Cleveland, OH Thu Mar 20, 2008

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4
Kathy -
Are you still looking for a condo in Winter Haven? There are a lot of properties on the market.. Do you want this for your use part of other year and used as a short tern rental the rest of the year, or are you buying as a long term rental as an investor?
Investment property is a bit tricky right now. Due to high taxes and insurance, and the relatively low income of the residents, you may not be able to rent it for enough to cover your mortgage, taxes, insurance, property management & repairs.

If you are buying low now and going to use the property as a second home and hold for appreciation to sell later, it might be a good investment, as long as you are not planning to sell it within the next 5 years, and you can afford a negative cash flow for a while.

It also depends where - what kind of neighborhood - the condo is, it's condition and many more things.


Have you owned investment property before?

I have worked the Winter Haven for years and also in Lakeland. Contact me if I can be of assistance.

Carol Ann Sargeant
H &M Realty of Polk County
Web Reference: http://h-mrealty.com
0 votes Thank Flag Link Mon Jun 9, 2008
Hello Kathy,

Yes I do. Consider also a single family home. I just sold one which was upgraded in great shape for $137,000 on Biltmore Dr. NW.
Web Reference: http://www.PhilFowler.com
0 votes Thank Flag Link Thu Mar 20, 2008
Kathy,
We agree. It is a good like to state your search and to maybe purchase something. If this is an investment property, please give us a call. We have a lot of experience in the southeast and opportunities in this area. Give us a call.
Marian Schaffer
The Schaffer Realty Group
marian@marianschaffer.com
http://www.marianschafferrealty.com
0 votes Thank Flag Link Thu Mar 20, 2008
Kathy,

It is the right time to purchase in any area of Florida.....but, if you are purchasing to rent, be smart about the area you select. There are locations that are better than others. Do your homework and identify an area that year after year has large numbers of rental requests. Also keep in mind that you can't beat a spot that is close to the beach or golf course for added appeal.

Another consideration is that the right seasonal rental location can generate nearly as much income as an annual rental. It's a matter of finding the right place.....

We would be happy to help you find such a location.

Best of luch,

The "Eckler Team"
Century 21 Almar & Associates
Venice, Fl 34285
0 votes Thank Flag Link Thu Mar 20, 2008
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