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;
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 a 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.
If you would like to borrow funds for investment your returns will be significantly lower but as prices rise the leverage may provide you a better overall return. Loans are available but underwriting is more stringent than in the past. The best thing you can do is speak with a qualified lender who can provide detailed guidance on what the loan costs will be as they are changing daily. If you need any help locating a lender here in the area I have some wonderful professionals who would be good to speak with.
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;
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