Buying property in Florida is a desired investment by many real estate investors in the field. This is mainly due to the fact that the Florida real estate market classifies as one of the best places to invest in real estate.
Naturally, many questions arise:
Don’t worry! We will present you with all the information you need to know before you invest in Florida real estate properties:
The Florida real estate market is one of the top investment markets at the moment. Even though prices of Florida investment properties have gone up and are expected to rise even higher; almost every real estate investor is interested in buying property in Florida. The increase in prices can also be used as an indication of the condition of the Florida housing market.
Buying property in Florida is a good investment decision for several factors. Let’s begin with the economic stability of the state.
Additionally, buying property in Florida is great as the state offers great investment opportunities for each rental strategy and a high return on investment on Florida real estate properties.
For instance, the state is a famous tourist destination. This is due to the weather, nature, and attractions available for travelers. Even though the tourist sector is already operating at a high level, it keeps on growing. Therefore, there is an increasing demand for traditional rentals as well.
After exploring the Florida real estate market, it is time to check the upsides and pitfalls of buying property in Florida.
When buying real estate in Florida, you’re bound to wonder what kind of benefits it will bring to you. Florida real estate properties certainly have some features to make you even more willing to finance a vacation home or a traditional rental property there.
It’s also important to know some of the obstacles you might face in your way. Whether you have decided to buy investment property in the state in the form of a vacation home or a traditional rental, here are some of the downsides of buying property in Florida:
When wondering where to buy a house in Florida, you should definitely consider the rental strategy you want to adopt. This is due to the fact that each place is associated with a particular optimal rental strategy. Thus, in order to help you find the best places to invest in real estate; and the most successful rental property, we will divide the data into two sections. These are namely the best places to invest in real estate in Florida for Airbnb rentals and traditional rentals.
Lake Worth, Florida
Median Property Price: $82,900
Airbnb Rental Income: $1,563
Airbnb Cash on Cash Return: 10.6%
Airbnb Cap Rate: 10.6%
Airbnb Occupancy Rate: 51,61%
Weeki Wachee, Florida
Median Property Price: $249,950
Airbnb Rental Income: $2,761
Airbnb Cash on Cash Return: 8.13%
Airbnb Cap Rate: 8.13%
Airbnb Occupancy Rate: 59.46%
Median Property Price: $94,000
Traditional Rental Income: $1,113
Traditional Cash on Cash Return: 8.51%
Traditional Cap Rate: 8.51%
Miami Gardens, Florida
Median Property Price: $232,864
Traditional Rental Income: $1,441
Traditional Cash on Cash Return: 2.99%
Traditional Cap Rate: 2.99%
If you need financial advising or you want to schedule a call, please contact us, we are ready to help you today.