Im thinking about buying a investment property in Florida . What are some good areas to invest?

Asked by Puffy, Annapolis, CA Tue Jun 22, 2010

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28
Zmbrennan, , San Jose, CA
Mon Sep 20, 2010
If you use Trulia "Stats and Trends" you can check the important investment stats.

I use Trulia Stats and Trends to switch towns to compare market conditions and do analysis for investment.



ie:
1. What has appreciation been in each particular market in the past 5 years?
2. How many homes have sold in the past 9 months?
3. How many homes are on the market today and how many foreclosures are possibly coming on the market?
4. How are "SOLD PRICES" trending (never "listing price" thats merely subjective).
This all effects supply and Demand.

Investment property can be very lucrative in todays market conditions. And can give you income from rental for years to come.

I think Trulia is a great resource for independent innvestors.



But do your research.
1 vote
Marsha Mayer, Agent, WEST PALM BEACH, FL
Tue Jun 22, 2010
Keep it simple !!!
I'm selling great deals everyday in Downtown West Palm Beach, the WPB Flagler waterfront condos and even condos on Palm Beach island. NO oil spill here...and not predicted to come here.

Our condo business and single family home market are booming...approved short sale, foreclosures/REO's and distressed home owners anxious to sell...Still good inventory to choose from BUT they go fast.

Marsha Montoya Mayer- Realtor

Paradise Properties of Florida, Inc.
Email: marsha@mypalmbeachrealty.com
Direct cell: 561-329-0428
website: http://www.mypalmbeachdeal.com
1 vote
Jo Chisholm, Agent, San Jose, CA
Sun Sep 19, 2010
This is a good time to buy in Florida as the REO's and Short Sale products are vast just about anywhere you go. My investor clients try to stay away from areas that are seasonal, and some of them are looking to move there at this point as Florida is on of the few states left that doesn't have a personal state income tax.

If you are an out of state investor, you will have to have a local manager to make sure that your tenants needs are looked after. There is nothing worse than a 11pm call from a tenant that has a broken water pipe.

Find a productive Realtor who specializes in the area you are considering. If you need a referral in this area, please do not hesitate to contact me. I have a network of experienced agents who can help you find a good buy.
0 votes
Carli Parrish, Agent, Clearwater, FL
Sun Sep 19, 2010
Hi Puffy,

The answer to your question really rely on you. Do you want long term investment property (i.e. rental property) or did you want short term (i.e. buy fixer uppers) and resale them at a profit.

Thanks
Web Reference:  http://homesbycarli.com
0 votes
Lori Hobin,…, Agent, Juno Beach, FL
Sat Sep 18, 2010
Puffy, all good advice but mine will be short and sweet. Near the beach, best investment and apprecaition, always in demand, interest rates are at their lowest and so are prices.... Find a great beach with good seasonal and annual population. Plenty to choose from....much success in your search! Lori
Web Reference:  http://LoriHobin.com
0 votes
Ellie Drury,…, Agent, Lake Worth, FL
Sat Sep 18, 2010
Hi Puffy-There are so many ways to answer this question, but I would suggest having a private consultation with perhaps several experienced realtors to determine your objectives and risk comfort level with various types of real estate investments.

Are you interested in being a hands-on landlord, or perhaps a flip would suit you better. Investments could range from a single family home with no homeowners association to a condo with built-in management. As I'm sure you know, timing is crucial as well.

You made an excellent choice to begin doing your due diligence by posting to a group for a variety of answers. I'm sure you will do well.
0 votes
Robert Basin, Agent, Sun City Center, FL
Thu Sep 16, 2010
Puffy, you might want to start by deciding what type of investment home you want. Would you use it? Rent it? Do you want waterfront? You may want to grab a map and see where you would want to live. There are good, solid deals all over the state. It will depend on how much you want to invest and type of lifestyle you like. Florida has a little bit of everything.
0 votes
Nancy Layne, , San Diego, CA
Thu Sep 16, 2010
My in-laws purchased in Boca Raton approximately 10 years ago. They loved the area and immediately fit right in the community (a 55 and up development). Unfortunately they have both passed on, but as far as investment, the property is currently on the market, and it looks like, even in this market, it has held it's value - although not as high as it once was, it hasn't dipped below the purchase price. So, wherever you decide to purchase, check out it's historical sales rates and how it has held it's value in other market slowdowns.
0 votes
Sergio Herna…, , Naples, FL
Thu Sep 16, 2010
Naples, Florida in SW Florida is a great place.
Web Reference:  http://www.golftobeach.com
0 votes
James Taylor, , Orange Park, FL
Wed Sep 15, 2010
I am an agent in North east Florida. If you have any questions involving my area I would be more than happy to help you! There is a lot of opportunity here. I would be more than happy to put together a list of properties in your intended price range and area.
0 votes
ruby smith, Agent, San Francisco, CA
Wed Sep 15, 2010
ask a senior agent in the areas you are most interested in
0 votes
Ashleigh Masi, Agent, North Redington Beach, FL
Wed Sep 15, 2010
Hi Puffy,

As one agent pointed out, Florida is a big state. Northern FL aka the Panhandle is a bit more sparse than the rest of the state. Yes, you have beautiful beaches - Destin, Panama City but overall it is not very populated and besides these 2 cities I mentioned, not many tourist attractions. I was born in Orlando, and Central FL offers a lot. Not only Disney and attractions of that sort, but Orlando is only an 1-1 1/2 drive to the east coast so you could visit Daytona and Cocoa beach easily, and its only 2-2 1/2 hrs from Tampa. I live in Tampa now, and this place is also booming. We're right on the beach and offer a lot of water activities, sporting events (which Orlando doesn't have except the Magic) and are only a couple hours away from Orlando. As for South Florida, Sarasota, Boca, Miami etc. are booming as well...their prices are a lot lower than Tampa as they did see a much higher spike in prices - thus are seeing a much higher decrease in value. Its a lot of information to take and decipher, but honestly....South FL might be your best bet in buying an investment (don't tell my broker I told you that!). Their prices are lower, the beaches are beautiful and its always a destination place. If you are interested in learning about the Tampa Bay area, you can drop me a line. I hope all this helps, and good luck!
0 votes
Scott Miller, Agent, Boca Raton, FL
Tue Sep 14, 2010
I've always been bullish on real estate for long term investment, portfolios, retirement. But the real estate I love the most was where I first started buying, next to a big, growing, sprawling university. Like FAU.

I still believe these areas are what I call "Real Estate to Die For":

http://www.trulia.com/blog/scott_miller/2009/03/the_best_rea…

Universities, colleges and schools of higher learning are all pillars in our communities. They are here in perpetuity, during our lifetimes, our children's and their children's lifetimes. They contribute greatly to the local economies, and hopefully, will grow in size as more Americans and foreign students want to be educated.

Look in areas within a short distance to the school of your choice. The closer the proximity, the less time it takes for your tenants to get to school. They can stay at school longer, too, without having to be pressured to leave campus and have a long commute home.

The secret is out that local politicians in Boca Raton want to turn our city into a college-town. I'm all for it!

There are tons of opportunities to rent to students and many colleges have off-campus housing offices to help students find landlords and vice versa.

Properties do not have to be hi-end or include crazy upgrades. It's enough that they are clean, spacious, comfortable and near school.

We can identify opportunities like this for you and show you how to purchase and rent them for long-term, generous returns.

Contact me today for more information:

Scott Miller, Realtor®
Estate Specialist
Commercial RE
Business Broker
Realty Associates
561-716-4060 direct
0 votes
John Detweil…, Agent, Boca Raton, FL
Thu Jul 8, 2010
If you are investing in the Boca Raton area keep in mind you'll want to purchase a property where you have flexibility for renting and selling the property easily. If you purchase a condominium where you can only rent once a year, or once in a 12 month period this could restrict you greatly if you rent the place and your tenant vacants early. You may have to sit with your place vacate for the rest of the year. As far as a particular area for investing I would not really restrict yourself. The main thing is to buy in a good area where prices have gone up in value during a good market in the past. The Boca Raton housing market in general has usually participated in values appreciating when the real estate market in general is appreciating. Also one of
the keys is buying the property at the right price. This will give you many more options when it comes time to sell. Keep in mind that it's much easier to rent a property in the $2000 to $3000 range then it is in a higher range. People that can afford more than that tend to buy instead of rent for the most part.
Here is a link to learn a little more about Boca Raton and Boca Raton Real Estate - http://www.bocarealestators.com/support.html
If we can help you in any way give me a call at Boca Real Estators. My name is John Detweiler and you can reach me at 561-703-5100 or visit us on the web at http://www.bocarealestators.com.

Web Reference: http://www.bocarealestators.com
0 votes
Carl Massi &…, , Boca Raton, FL
Thu Jul 8, 2010
I would have to say the boca raton and delray beach area if you are looking at the east coast. WHEN this market turns around---and it will----these are the areas that will see the appreciation the fastest. Truly it all depends on what you are looking to spend. Obviously there are great deals out there in every price range right now. But the size and type unit along with the restrictions need to be considered for renting---and this will vary based in many cases on the price range. Pick and agent you feel you might be compatable with and ask a lot of questions before commiting. and if it sounds to good to be true---it probably is.

Carl Massi
Coldwell Banker
561 809 4149
0 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Fri Jun 25, 2010
Puffy:

From my previous response- I favor the Southeast Coast of Florida- the West Coast - Central FL and North FL offers beautiful options too.

It comes down to defining your objectives. The place to invest is where you get the highest returns or appreciation!
0 votes
Cara Mantova…, , Boca Raton, FL
Fri Jun 25, 2010
My family began developing in South Florida 40 years ago.
Southeast Florida near the water is the best place to invest bar none.
I would be happy to shed some light on good areas and email you details and pictures of properties that may be of interest. Please feel free to contact me via email or phone to discuss your options in more detail.

Thank you,
Cara Mantovani
Broker
Mantovani Real Estate
561.329.6595 cell
Cara@MantovaniRealty.com
Web Reference:  http://www.CaraMantovani.com
0 votes
Emily Erekuff, Home Owner, Menifee, CA
Wed Jun 23, 2010
Hi Puffy,

Your question was duplicated on our site. You can thus find additional answers to your inquiry via the following links.

http://www.trulia.com/voices/Home_Buying/Is_it_a_good_time_t…

http://www.trulia.com/voices/Home_Buying/is_it_a_good_time_t…

http://www.trulia.com/voices/Home_Buying/Is_it_a_good_time_t…

Please be sure to let us know if you ever encounter any difficulties while posting questions on our site in the future.

Best Wishes,

Emily Gibson
Community Moderator
0 votes
Nicole Marks…, Agent, Boca Raton, FL
Wed Jun 23, 2010
Hello, Puffy. South Florida is where you want to invest. There are beautiful beaches, parks, shopping, restaurants, concerts, theater, sporting events, outdoor art shows. Last, but not least, we have fabulous climate - blue skies, sun and warm weather year round. The list goes on an on. All of these things make South Florida a magnet to people who want an easier and more pleasant lifestyle.

I am happy to help you find a great investment property in this area. I work in Boca Raton, Delray Beach, Boynton Beach, Highland Beach, Deerfield Beach, Parkland, Hollywood and many other places. Please give me a call at 561-445-8743 and we can discuss this further.

I look forward to hearing from you.

Sincerely,
Nicole Marks Mason, Realtor
Web Reference:  http://www.buysellboca.com
0 votes
Karyn Smith, Agent, Champions Gate, FL
Wed Jun 23, 2010
Much as I love the beach, you do have restrictions - Orlando is a 52 weeks a year rental area so for best return on investment that is where I bought. Where else can you buy that does the massive investment in advertising than Orlandodoes with Disney, Universal and Seaworld. Happy to send you more in fo just call me or e-mail karyn@searchfloridahome.com
0 votes
gabriel palo…, Agent, Pompano Beach, FL
Wed Jun 23, 2010
Puffy,
An individual who commits money to investment products with the expectation of financial return. Generally, the primary concern of an investor is to minimize risk while maximizing return, as opposed to a speculator, who is willing to accept a higher level of risk in the hopes of collecting higher-than-average profits.

1/ Investment product: shopping centers GREATER RISK greater profit better than ever acquisition price.
location for future growth Palm Beach County requires savvy SPECULATOR.
2/ Apartment complex: Broward County, Vacancy rate low demand high. Long term investment maximizing return,MINIMAL RISK ( Average price per unit $40,000)
Motels upside potential and conversions close to beaches South East Florida ( $65,000 per unit) excellent low risk investment for owner manager.
3/ Vacant land . Agricultural acreage for land banking Mid Florida is rich in this product. Requires an individual to COMIT HIS MONEY with the expectation of financial return.

Gabepal
Buyer's Agent
gabepal@g mail.com
0 votes
Antonio Vega…, Agent, Saint Cloud, FL
Wed Jun 23, 2010
PUFFY:
The Disney area of south Orlando, Kissimmee, Davenport, Clermont. Where the 4 counties meet is really good investment location. Many communities have been designed to be vacation rental homes with many resort ammenities. Also lots of local tourism workers require rental properties. With the prices as low as they are right now, it is unquestionable this is a great investment location. Homes with pool for under 100 are easy to find and homes that once sold for close to a million in golf communities can be bought for as little as 250. Depending on what type of investment you are looking for we have something for every need.

Tony Vega
Charles Rutenberg Realty

http://www.SearchKissimmeeHomes.com
0 votes
Tom Priester, Agent, Tequesta, FL
Wed Jun 23, 2010
Puffy,

There are tremendous opportunities throughout northern Palm Beach County and a lot depends on what you are looking for. You need to fully evaluate your goals and pay careful attention to the costs of ownership of each property, including Association fees and property insurance. Your best returns are going to involve holding the properties for at least 3 to 5 years while we continue to work our way through the inventory of foreclosures.

If you buy properly you should be able to locate deals that will consistently provide you a solid 3% - 8% cash on cash return. The tax benefits and future appreciation will just be icing on the cake. Your best chances for success will be acting quickly on bank owned foreclosures when they hit the market as they can sell quickly. In many cases investors need to sit on the sidelines for the 1st 15 days but not always. I have spreadsheet data put together for many different developments so if you would like to see some of these results please feel free to contact me at your convenience.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
Web Reference:  http://www.tompriester.com
0 votes
Nadine Mauro, Agent, Lake Worth, FL
Tue Jun 22, 2010
Hi Puffy,

I looks like you're asking for information on properties in Boca. Is that correct? There is a lot to consider around the Boca Raton area. If you buy a single family house near the colleges, you can attract the students without having to worry about condo associations.

Much will have to do with your prefernce of a property type and the amount you are looking to spend. I do not recommend investing in the 55 and over communities as it limits your pool of potential tenants.

There is a lot all around this area. Please give me a call and I will be happy to help.

Nadine Mauro
Realty Hub, Inc.
561-414-0864
NadineMauroRE@yahoo.com
http://www.floridahouseseller.com/
0 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Tue Jun 22, 2010
Florida is a big state- as far as investment property is concerned, it really is a personal preference. Miami Beach is still a very popular destination- especially South Beach with great beaches and endless nightlife.

Aventura is also very popular - offering an excellent infrastructure and The Aventura Mall. Turnberry Isle Championship golf course is yet another big attraction in Aventura.

Determine what it is you're looking for and your Florida investment could be very rewarding.
0 votes
Teddy Jagess…, , Wellington, FL
Tue Jun 22, 2010
You need to know what your objectives are. Do you want a property purely for rental income and what is the amount you wish to outlay. Condos are a hot investment item in South Florida right now as the prices are good however you have to keep an eye out for the Condo fees which are quite high in some communities. Great deals in SFH are scarce but find one without association fees and it may work better you just have to do the numbers to see what makes sense. http://www.mypbchomes.com
Web Reference:  http://sellmypbchomes.com
0 votes
Maggie Hawk, Agent, New Smyrna Beach, FL
Tue Jun 22, 2010
It depends on what you're looking for. For long term rentals, a college town, such as Gainesville near University of Florida, or Tallahassee near Florida State University would be good. If you want a vacation rental, a condo at the beach would provide a place for you to take your vacation, and you could rent it to other vacationers the rest of the year. If you think you might be interested in New Smyrna Beach, let me know.

All the best,
Maggie Hawk, REALTOR
(386) 314-1149
Watson Realty Corp.
0 votes
John Mondello, Agent, Prairieville, LA
Tue Jun 22, 2010
Be mindful of oil spill. Could be some good deals around Pensacola, Panama.

John J Mondello Jr, Realtor
Keller Williams
0 votes
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