Saturday, March 04, 2006

Florida Real Estate investments

Florida Real Estate Investments
Because of the fast growing base of people relocating to Florida along with the tourism industry, Florida offers three unique opportunities for investments.
• 1031 tax exchanges
• Buying a second home/condo and using it as a rental.
• Buying a commercial piece of property, from duplexes to apartments, to triple net shopping malls.
The above combined with an above average appreciation rate for Real Estate make Florida a place you definitely need to consider, regardless of your financial capabilities.

Due to our tourist industry both from the USA and abroad, rentals can be the answer.
If you’re selling a multifamily unit (Duplexes etc) a condo or single family home and looking to possibly buy one here, Florida can be just the ticket.

RENTALS/Vacation homes and Condo’s
Once you’ve zeroed in on an area, depending on you payback requirements , you’ll need to determine if zoning allows rentals on a weekly, monthly or long-term basis.
*This is an evolving situation depending on the community, so you really need to do your homework on this one.
Generally, short-term rentals are allowed only in commercial/residential zoned areas and are restricted in strictly residential neighborhoods.
I suggest that once you find the area you’re interested in, search the investment section of the site for a REALTOR that specializes in 1031 exchanges. (See the Real Estate links for the area you are interested in)

Second family homes
Looking to buy something and rent it out to help make the payments and then possibly retire to it later? Florida has something to fit your tastes and financial capability.
Because of tourism and the influx of people moving into the state (job transfers-military transfers or just plain people relocating) oftentimes they want to rent before buying.

In addition, don’t forget appreciation. Florida is one of the leading states in property appreciation. People want to be here.

Commercial properties and Existing businesses
There are Hotels. Marinas, mfg facilities, retail operations, mom and pop motels, bed and breakfasts, restaurants, shopping malls (big and small) available. Regardless of the lifestyle and skills you bring, there is a business here for you.

New businesses
Because we are growing rapidly, there is always a need for a new business, be it a retail operation a shopping center, apartments or homes.
Florida is home to thousands of small businesses. In fact they are one of the largest employers in the country.
In conclusion if you’re interested in changing your lifestyle or just continuing what you know in a better location and climate, you need to really check Florida out.

No comments: