Florida Investment Real Estate and What Are Considerations Before Buying
Investment Real Estate, First Things First
Considering investing in property? What are some pertinent things to consider before taking this leap? Of all the investment possibilities, investment in land generally produces the most positive results. It is vital, however, to carefully investigate the pros and cons, benefits and deficits of real estate investment. Most people look at investment real estate as risky and feel woefully inadequate to tackle this form of investing. They feel lost, not knowing where to even begin!
A multitude of information is available and knowing how to search can seem daunting. A web site search will produce boatloads of information, some valuable and some not. Some key words to search are real estate investment, investment property, and investing in real estate. This will begin the process for you. Not all available information is worth your time, however. Beware when the site promises high return for little down. Also beware of sites whose main goal is to solicit your money. Web searching is one form of research. Another is talking to a reputable real estate broker or real estate lawyer. One of the best sources of information is a friend you trust who has done real estate investing. A trustworthy friend who started as a novice and progressed to real investing is probably your best source of reliable information. Their voice of experience rings the loudest since they are a layman like you who had to discover for themselves each step of the way how to make successful investments.
Investment Real Estate, Rental Units
Let's look at some sound reasons for investing in real estate. Real estate generally appreciates at a greater rate than the rate of inflation and offers great tax benefits. Selecting real estate in a desirable location will prove to be profitable especially in burgeoning areas, usually in suburbs which are a reasonable commute to city jobs. Of course the old adage, location, location, location is a very pertinent piece of advice to take to heart. Think of the most expensive housing markets today. If you have lived in an expensive housing market, or have visited there, you will notice that along with exquisite homes offered for sale at exorbitant rates, small, older homes you would never consider buying in another market are being offered for huge dollars. Why? Location, of course. When a housing area becomes desirable, even those small dumpy homes will sell for a considerable amount of money. Let's stop for a moment and look at the advantages of investing in rental units as opposed to purchasing property for resale. One of the largest factors to consider in purchasing property for resale is finding properties that will resell at a higher rate than purchase, of course. Finding these properties is not as easy today as it may have been in the past. It used to be that fixer-uppers and foreclosures were avoided by homeowners and investors alike. Not so today, those same homes are being feverishly snatched up in the current booming housing markets.
Florida Investment Real Estate - Why Florida Is a Good Choice
Finding homes to purchase and turn over quickly for cash is becoming more and more difficult, leading many to consider purchasing property for the purpose of renting. What are some advantages to renting and what locations would be most desirable for purchase with a rental goal in mind? Owning rental property provides some unique advantages. If you have the time as well as the finances to invest, rental property could end up paying for itself in the long term. In order for this to be true, the most important thing to search for is property in a great location for renters. You don't want to be searching for renters for months on end while you are being drained of capital. Those mortgage payments never stop, even when the list of renters has been exhausted. Buying rental investment property in a college town is a good bet for the possibility of continual renters and also buying in transient areas and tourist areas. Of all the above, tourist areas tend to be your surest source of consistent renters. Numerous high density tourist areas exist across the nation, but one of your best bets for purchase and consistent renters would be a sun-drenched spot with a year-round temperate climate. California and Texas would fit the bill, but as we all know, the most desirable locations in California may be out of reach due to the high cost. Texas may be considered a good choice, but only one state ranks as the premier tourist destination in the world and that would be Florida, the sunshine state.
Florida Investment Real Estate - The Orlando Area
With Florida's burgeoning population, Florida investment real estate is a great option. Florida ranks 4th in population behind California, Texas and New York. Florida has one of the fastest rates of growth in the nation, making Florida investment real estate a very attractive option for investors. In the 1990's, Florida grew by 23.5 percent with five counties increasing by more than 60 percent. Projected state growth would bring the population to over 19 million by 2010. An increasingly higher population obviously increases the need for housing. The increasing resident population being a great reason to pursue Florida investment real estate; let's not neglect another face of increasing housing need. Florida has a tourism rate of almost 77 million visitors in 2004, making it the top travel destination in the world and producing $57 billion of income. Tourists flock to all parts of Florida, the beaches being one of the most attractive destinations. However, Orlando pulls in the most visitors, with 2.6 million international travelers, not including the steady stream of domestic tourists. This alone would offer sufficient reason to purchase rental property. But considering that the grand total of tourists visiting Orlando in 2004 was 48 million people, what great housing investment potential for investors! The biggest drawing card in the Orlando area is, of course, Walt Disney World. The area surrounding Disney has a hotel rate occupancy of about 80 percent. It's obvious why the Orlando area is considered one of the most desirable tourist destinations in the world.
Florida Investment Real Estate - What are Reasons Tourists Come to the Orlando Area
Owning Florida investment real estate will give vacationers who visit the Orlando area a place to stay while you collect the rent. Theme park attractions are one of the biggest reasons Orlando has become a #1 tourist destination. The three most popular are Disney, which includes Disney World, Epcot, Animal Kingdom and MGM Studios, Sea World and Universal. Each attraction holds an appeal for people of all ages with families and singles alike enjoying each. Kissimmee is the town closest to Disney where families especially enjoy a few of the more laid back sights including Green Meadows Farm. Green Meadows is in an idyllic country setting with tours of the farm and more than 300 farm animals to touch and see. Also in the Kissimmee area is Horse World Riding Stables. The 750 acres of open pasture beckons horse lovers to enjoy a ride beneath the open sky. The Orlando Science Center beckons science buffs both young and old. Learning happens as a by-product here through the realistic, interactive and just plain fun exhibits. Fabulous night life is to be found both in Kissimmee which boasts two very popular dinner attractions, Medieval Times and Arabian Nights. Both serve delectable large portions of food with fabulous jousting and medieval type entertainment. For the shopper, Shopping and dining abound in the Orlando area also as do all sorts of natural environmental experiences.
Real Estate Investment in Florida - Bimini Bay Resort Florida
A well-kept secret but one located just 5 miles from Disney, in the center of Florida is Davenport, a treasure of a town close to the major attractions, yet a world away. On 80 acres of land in the Davenport area, you will find Bimini Bay Resort, Florida. A grand investment opportunity awaits you at Bimini Bay Resort, Florida where the investor participates in property appreciation but is not affected by negative cash flow during the off season. At Bimini Bay Resort, Florida you will find a planned community of luxurious town homes, offering 3 bedroom two baths that are fully furnished and equipped. Bimini Bay Resort, Florida is unique in that the investor can stay in the purchased unit while on vacation for a minimum fee while renting the unit the rest of the year. Management staff at Bimini Bay Resort finds the renters while you enjoy a guaranteed rental income each month. Planned amenities at Bimini Bay Resort include two major restaurants, a grocery, deli and food court and a sports bar restaurant. Bimini Bay Resort will also include a spa and exercise facility. A large business conference center and twin theaters are also planned at Bimini Bay Resort. Peace of mind will be yours at Bimini Bay Resort with its gated access with security cards. A fantastic real estate investment in Florida at Bimini Bay Resort awaits the investor who desires a consistent income without the headaches of day-to-day management. Bimini Bay Resort is worth investigating.
Our Featured Orlando Properties: You have an opportunity to join one of the fastest growing trends in the United States and the world. Orlando is one of the most explosive markets in the country and the Disney resort area has an average hotel occupancy of around 80%. Orlando is known as the vacation capital of the world and the top rated short term rental market, one that shows tremendous potential for real investors.
Tourism - with 76.8 million visitors in 2004 (a record number), Florida is the top travel destination in the world. The tourism industry has an economic impact of $57 billion on Florida's economy. Click here for additional tourism facts and statistics.
City Population Rank (2000):
(Rounded to the Nearest Thousand)
1. Jacksonville - 736,000
2. Miami - 362,000
3. Tampa - 303,000
4. St. Petersburg - 248,000
5. Hialeah - 226,000
6. Orlando - 186,000
7. Ft. Lauderdale - 152,000
8. Tallahassee - 151,000
9. Hollywood - 139,000
10. Pembroke Pines - 137,000
11. Coral Springs - 118,000
12. Clearwater - 109,000
13. Cape Coral - 102,000
14. Gainesville - 95,000
15. Port St. Lucie - 89,000
16. Miami Beach - 88,000
17. Sunrise - 86,000
18. Plantation - 83,000
19. West Palm Beach - 82,000
20. Palm Bay - 79,000
21. Lakeland - 78,000
22. Pompano Beach - 78,000
23. Davie - 76,000
24. Boca Raton - 75,000
25. Miramar - 73,000
Most Populous Metro Areas (2000):
(Rounded to the Nearest Thousand)
1. Tampa/St. Petersburg/Clearwater - 2,396,000
2. Miami - 2,253,000
3. Orlando - 1,645,000
4. Ft. Lauderdale - 1,623,000
5. Jacksonville - 1,100,000
6. West Palm Beach/Boca Raton - 1,131,000
7. Sarasota/Bradenton - 590,000
8. Daytona Beach - 493,000
9. Lakeland/Winter Haven - 484,000
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