Investment Property In Florida

The crash of the housing market has opened the doors for many investors. Florida is one of the hardest hit states for foreclosures and unemployment. The Feds have bought back mortgages and interest rates have steadily dropped. What does this mean for the average investor and how can one find Florida investment properties?

Florida investment property can be found in the thousands at rock bottom prices. The rate of foreclosures in Florida is 1 in every 56 homes. Buying Florida investment properties can allow an investor to buy at a low price and sell or rent at a higher price allowing them to profit from the housing mess. The investor can contact a local realtor to help them find potential properties. Another option is to contact the banks that own the properties and make an offer to purchase the real estate.

Some of the Florida investment property will have damage or work that needs to be done before a person can utilize the property. This should be taken into consideration when making an offer on the property. If there is a considerable amount of damage, then the investor can make a lower offer on the property. Most of the banks do not want to make the repairs on the property and will lower the price to compensate for the work that needs to be done on said property. This can be a real bargain for the right investor.

The investor should work with an experienced realtor in foreclosures or short sales. Having a realtor that is experienced can help the investor save time and money. Investors can also higher a real estate attorney to help with any matters they are not clear on. Florida investment properties can help an investor achieve high returns if the purchase price is low.

There are thousands of Florida investment properties for sale. These prices are the lowest anyone has seen in years. The interest rates on mortgages are at the lowest in years. If the investor does not have the liquidity to purchase the investment property, then obtaining a mortgage at today’s rates would be a wise choice. The current mortgage rate in Florida for a 30-year term is 4.5%. This is a fantastic rate for a borrower. The investor could rent out the property and charge anywhere from a 7% to 10% rate, depending on certain criteria, and still walk away with a substantial gain.

Florida investment properties are a great investment. There is potential to make a decent return on the investment. The investor needs to do their homework on the property to find its true value. A cost comparison should be applied to the Florida investment property. There are many advantages to buying a Florida investment property.

Article Source: http://www.articlesbase.com/real-estate-articles/investment-property-in-florida-3802868.html

About admin