I was going to buy a home in flordia as a rental property but I was told I am making a mistake the eonomy is so bad is this true.

Asked by Donna Diana, Saint Augustine, FL Fri Mar 22, 2013

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9
Will Russell, Agent, Saint Augustine, FL
Sat Mar 23, 2013
A bad investment is a bad investment, no matter where it is located. However, St. Augustine rentals have traditionally faired extremely well. Are you thinking of a beach condo to rent on a weekly basis or a traditional property to rent to long term renters? Either way you should be good, depending on the cost and location. If you would like me to assist you with finding an excellent invest property please call (904) 814-7305 or Email - Will@EndlessSummerRealty.com
Best of luck,
Will
0 votes
actually, the property is in lauderdale by the sea. And, no looking for a home.
Flag Sat Mar 23, 2013
Larraine Gac…, Agent, Jacksonville, FL
Sat Mar 23, 2013
Hi Donna,

I listed a property in the WGV Area this past Monday and within five hours had three Cash Offers from Investors. Investors are purchasing properties in the St. Augustine area because the county is such a desirable area and the Schools are No. 1 in the State of Florida. The rental market is booming because of of the recent years Short Sales and Foreclosures. If I can be of assistance to you please contact me at Larraine@prunet.com or (904)612-9097 .
0 votes
Great agent with the best company in town...great Larraine! Looking for a great agent who can handle short sales and foreclosures better than most...it is Larraine...stick with her.
Flag Fri Mar 29, 2013
Sherry Schmi…, Agent, Saint Johns, FL
Sat Mar 23, 2013
Good thing you don't believe everything you are told...

Imprint Properties is a locally owned and operated real estate and property management company. We manage/buy and sell from Palm Beach County (south) to Duval County (north). The selling inventory is low, however, by knowing your criteria when buying an income property, we are able to send you properties as they come on the market. Properties are going fast and those that can be turned around very quickly are going even faster.

Townhomes/condos can be a good investment because your association fees will cover exterior items, while your homeowner's insurance is from floor to ceiling and wall to wall. Single family homes can fetch more rental money, however, you have to be sure that the home and yard are being taken care of to keep the integrity of the property.

Feel free to contact us at 904-230-1020 to discuss your wants/needs/questions. We have many owners across the country and across the world that have been successful with their income properties.

Thanks for your time and enjoy the rest of your day.

http://www.ImprintProperties.com
ImprintBroker@Live.com

Sherry R. Schmidt, Broker/Owner/Realtor
904-230-1020 Office
904-794-1746 Cell
0 votes
Josh Barnett, Agent, Chandler, OK
Sat Mar 23, 2013
What part of Florida? Is the person that told you this a Property Investor?
0 votes
Antonio Vega…, Agent, Saint Cloud, FL
Sat Mar 23, 2013
In the South Central Florida area, Osceola County prices have been going up on average about 10,000 every 6 months, for almost 2 years now. That means a home you bought for 100K in September 2011 is selling now for 130K. Not bad at all.

SO NOT BAD that corporate investors are trying to purchase anything they can get their hands on still priced below 150K, with the intention to hold for 5 years and then resell. The real mistake will be to not purchase if you have the ability to do so. Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".

Tony Vega
La Rosa Realty
0 votes
Joyce Haley, Agent, Saint Augustine, FL
Fri Mar 22, 2013
HeLLO Donna,
Don't listen to the naysayers!! If the hedge fund folks feel comfy buying up homes for rentals, why don't you go ahead, and invest. Of course consult a real financial guru first, but my feeling is that you all have asked us to tell you when we reach the bottom of the market, and it is gone!
Call me when you want to take a look.
Regards,
Joyce Haley
0 votes
David Kfoury, Agent, Saint Augustine, FL
Fri Mar 22, 2013
Always make sure to do your due diligence and research your potential market well. Rates and prices are both currently low, and there are a lot of people investing in real estate right now. Most investments you make carry some sort of risk. Real estate definitely has risks as does the stock market, commodities, bonds etc. I believe now is a great time to buy, but each of us has to make our own decisions with how best to allocate our money.

Please let me know if you ever need any information on our local market.
0 votes
Daniel Barto, Agent, Naples, FL
Fri Mar 22, 2013
Not according to the investors that have bought for the last 6 years. My clients have seen between 5-15% cap rates and every property has appreciated building equity for the owners.

Did the person that advised you buy any property since '09?

Did your advisor short the market in '07? Then reinvest in '09?

Is the economy booming? No, that's why housing is still relatively cheap. Everyone wishes they had a time machine so they could go back to '09 and '10 and buy up all the REO properties they could handle.

I think your asking the wrong question. The better question is: is it the right to for 'you' to invest? Not your friend.

I hope this helps, just trying to be straightforward and honest, not trying to be harsh or crass.

Best of luck with your final decision!

Danny Barto
Web Reference:  http://GalleonProperties.com
0 votes
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Fri Mar 22, 2013
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That person who told you that was obviously not in touch with the increasing real estate prices we're now seeing in Florida!

You had better buy now!

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0 votes
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