Sunday, February 26, 2006

Sarasota Investments

Sarasota and Sarasota County Investment opportunities
Due to the incredible growth in tourism and people relocating to the South East coast of Florida, investments ( both commercial and rental) in this region should be a strong consideration.
Aside from commercial investments the two situations most people are looking for in Florida are:
• Vacation homes/2nd homes, both single family or Condos that can be rented out.
• Generally a purchase involves a 1031 tax exchange or just someone looking for a second home in an area that he/she or the family will use occasionally.
• A home to eventually retire to and rent in the meantime to help pay mortgage costs.

As to Sarasota County-where would the best rentals probably be located? The following is a partial list.
• Venice Beach
• Bradenton, the inlets and the intracoastal
• Homes and Condos on the Ocean, canals, inlets, golfcourses or bays (all locations)
• Crescent Beach
• Englewood beach
• Downtown Sarasota (historic district)

*To get an idea on rates charged and potential income of vacation (short term) rentals, see

Long term
*The downtown areas in cities are also seeing strong growth. In short some people are going away from life in the suburbs and opting for closeness to theatre, restaurants and the vitality of a city environment. So, don’t overlook the downtown areas
To know:
• The best areas to rent are generally near the water and the best rental income will start at open water locations, followed by homes/condos with a partial view to homes on canals. The neighborhood and the furnishings will also dictate the rent amounts you can get.
• In the Keys-the best situation was a home at least three bedrooms and up on the Ocean or Gulf with a pool and a boat dock. In some cases these bring as much as $5000.00 per week, depending on the home/area.
• It is very important that you find out early on which residential areas and which condo associations allow weekly rentals-as this will be generally be your best return.
• In some cases you may want to just rent out long term and skip the dealings with handy men and cleaning services.
• In all of this—the most important thing is that you find a qualified agent. He/she can guide you through the process completely—including setting up property management.

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