There are probably a more than hundred places to invest in the real estate business in the United States, but the Southern States come into mind a lot. These include Georgia, North Carolina, Texas and more which have great deals just waiting to be grasped. But if you are serious about investing in real estate, you will probably come down to one option which is Florida. The state is one of the best when it comes to attracting many outsiders of the states to buy even including international investors. Investments are made here because of some very solid reasons which are mentioned below. But before you finalize the decision of investing in South Florida, have a look at the following.
Let’s be honest, many of us want to get away from the cold weather in the Cleveland area, if only for a weekend here or there during those harsh winters!
Florida is More of a Rental Market Today
Thanks to the recession, South Florida was effected in many ways. A lot of apartments in the area were converted into condos which led to less and less construction in Florida which in return made it mostly a place where rental market was increasing and the demand for rental homes became the norm. So basically, it became more of a rental property owner’s market.
But the good news is that even if it is mostly a rental market out there right now, the rent is steadily increasing over time. For example, experts say that the rental rate of Florida went up by 5 percent when compared to last year. Many different communities in South Florida are having a different rise in rental demand and each have their own benefits. This makes this market a lucrative one to invest in.
And with rental rates being quite high these days, being a landlord means that you’ll be getting a lot of return on your investment, at least for the upcoming many years as the rent will only be increasing from here on. Since mortgage rates are also very good in Florida, a landlord may decide to give away their property to someone to rent it and pay of their mortgage while they live someplace else.
South Florida real estate is also a great place to invest simply because it attracts a lot of foreign investment in the area. Whether their South Americans, Canadians or Europeans, everyone has heavily invested in the state and more are coming. According to many experts Florida is one of the top housing markets in the USA to have most of its investment in foreign investment. Around 48% of investors from other lands put most of their money into rental properties and vacation homes because of the fact that many tourists and students come to the state. Due to universities in the state, the students are always looking to rent out a property. Hence Florida makes it a great place for someone to invest especially if they are going to turn it into a rental property.
Plus Florida is a great place to live and attracts a lot of people from other states who want to start a new life here. If you are interested in investing in Florida real estate contact 9 Core Realty today!