Investing in Real Estate in Florida in 2020
Florida has been on the radar of real estate investors for a long time, and with good reasons. Beyond its year-ride idyllic weather and miles of sandy beaches, the Sunshine State is known for its affordable real estate and high return on investment. Florida offers countless opportunities to make money for savvy entrepreneurs, from regular leases to vacation rentals and rehabs to either rent or sell.
Whether you are a year-round resident, a snowbird, or looking to expand your horizons, here is why and where you should consider investing in real estate in Florida.
Why Invest in Real Estate in Florida?
Florida is the third-largest state in the nation and boasts the largest population in the Southeast. New residents may be lured in by its easy lifestyle, but also by its dynamic job market.
The Sunshine State is one of the leaders in the tourism industry thanks to its major amusement parks and picture-perfect beaches. However, it is attracting a growing number of Fortune 500 companies in sectors as varied as aerospace, military, health care, or international banking. Florida is also a favorite among retirees and those soon-to-be-retired.
The influx of new residents, jobseekers or retirees, provides a consistent flow of potential renters for long-term leases. Meanwhile, there is also an increasing demand from visitors to the Sunshine State for short-term and vacation rentals as alternatives to hotels. Both markets present an excellent opportunity to fill up your real estate investment properties in Florida.
Best place to invest in Real Estate in Florida
Real estate entrepreneurs should consider the following cities when buying rental properties in Florida:
- Miami are and Miami Beach (Hallandale, Aventura, Sunny Isles, Golden Isles)
- Fort Lauderdale
- Palm Beaches
- Port St Lucie
Each investment property presents its unique challenges, and there is no “one-fits-all” solution. Talk to your Concierge Star Realty – Real Estate Agent to find the property that bests fits your needs.