How much money do I need to invest in a property in South Florida?
The most common misconception is that buying an investment property in Florida is a privilege for the wealthiest. Nothing could be further from the truth, as there are different investment categories to start with that are incredibly accessible. And when you buy a property in Florida, you are guaranteed a title, a safe dollar capital, and a transparent and secure purchase process.
We find it pertinent to separate our potential investors according to the ideal results of each one. First, there are what we call Lifestyle Investors. These are looking for an ideal lifestyle, and a vacation home that produces an investment that will grow in the long term, a rental income to pay the expenses and pay the cost of the holiday in the short term.
The second group will be called Direct Investors. They are looking for an investment that offers them the maximum profit. They will not use the property themselves, but they are interested in having the property in good condition to rent it at a good price. These investors are interested in obtaining both an appreciation and a cash flow, and in having their money in assets in the United States.
<strong>THEN, HOW MUCH DO I NEED TO ENTER THE MARKET?</strong>
The direct investor can find a property that suits your needs at an entry price of $ 100,000. This can be a family home, or an apartment / condo – and most likely will lease it throughout the year to achieve consistent cash flow performance.
If you are looking at this price as a way to enter the property market, you will find that you will be looking at areas that are removed from the tourist spots and usually away from the sea front. Lesser-known small towns tend to offer such deals.
The Lifestyle Investor will have many more factors to keep in mind when making your plan to invest in a property in Florida and it is very certain that your gain in investing will not be the main factor motivating your decision but only one component of she.
It’s fair to say that vacation homes are really of the caliber to get a cash inflow for short-term rent, usually starting around $ 200,000 in the most economical areas. In more sought after areas like Palm Beach, Fort Lauderdale and Miami we are looking at an amount closer to $ 500,000 for a three bedroom vacation home with potential for lease.
If you do not know which area to choose or which area to invest in, please fill out the form to find a location and one of our agents can help you select areas that match your tastes without any obligation. Our Realtors are the best in this business and will be happy to guide you regarding the price, location and type of investment to ensure that you get the property you dream about.
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