Should You Use a Property Management Company or Manage Your Florida Real Estate Investment?

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When considering investment properties, one must first determine that it is profitable and a good idea to purchase rental properties. Let’s talk about this aspect. Owning a rental property produces rental income that, if after deducting expenses it produces a profit, would be considered a good investment. Add to this the possibility that the property has the potential to increase in value over time and you have some solid reasons to buy investment property.

If rental income is paying more than the monthly mortgage amount, leaving an excess for home repairs, tenants may be able to pay for the home in full. At some point in the future, this same home may be sold, with the seller receiving full value for the property. It seems you can’t go wrong with owning rental properties. But is this true? It all depends on whether the investor has thoroughly completed his task.

If you are currently considering an investment in rental properties, be sure to do a thorough research. It is important for the real estate investor to gather the proper information before committing to owning the rental property. Searching the Internet, reading real estate publications, attending seminars, and speaking personally with real estate investors is a great start that will put you on the path to making a wise and informed decision. Starting a business is a bit like investing in real estate. Knowing the facts and spending time shopping gives you a much better chance of success. Doing your homework can prevent disastrous real estate investment decisions.

Why a real estate investment in Florida?

There are many issues that need careful consideration before making a final decision on real estate investment. These include the location of the property, are you interested in an urban or rural location? What is the condition of the property, how much maintenance will be required to keep it in good working order? What are your financing options? What taxes apply to that particular property in that location? How will you select tenants?

These are all vital questions that could make or break your business. We are going to refer to the first and probably the most important of the questions that should be asked regarding real estate investment. What location will you choose? When looking for the best location possible, it’s important to look at trends among tenants. The US population continues to grow at a gain of about one person every 14 seconds. Where do all these new people come from? An increase in our own population and immigration account for this strong growth. With this in mind, it is safe to say that there will be a continued need for housing well into the future. As for the immigrant population, California, New York and Florida top the list, in that order, in terms of new residents. What a potential group of people to draw from! When looking at the cost of buying real estate in these three states, a Florida real estate investment is among the most reasonably priced. Coupled with strong immigration growth, Florida is an attractive tourist destination, making it an ideal location for rental property purchases.

Investing in Real Estate in Florida – Where is a Good Choice?

In addition to having the third highest rate of population growth, the high rate of tourism is definitely a great reason to invest in Florida real estate. With its mild climate year-round and a wide variety of attractions, both natural and created, it is the ideal place for a family vacation. Families and singles alike return time and time again for the wonderful vacation Florida has to offer. Deciding where to buy your Florida real estate investment can be a difficult decision. Vacationers in Florida seek sun and fun. A real estate investment close to the beach, from Key West in the south to Jacksonville in the north and east from Daytona Beach to Fort Myers, would offer good returns on your investment. Beach lovers will pay top dollar for rentals near the ocean. Consider Central Florida a wise real estate investment. Walt Disney World has made Orlando the third favorite tourist destination for foreign travelers. Only Los Angeles and New York City rank higher. With its many sparkling lakes, tropical landscapes, and clean modern skyline, Orlando, the largest city in central Florida, has rightly earned the title of “City Beautiful.” Along with the biggest attraction card of all, Walt Disney World, theme parks like Universal Studios and Sea World have made Orlando one of the largest tourism markets in the world. 2.6 million international travelers flocked to Orlando in 2004, according to the Orlando/Orange County Convention and Visitors Bureau, an increase of 12 percent since 2003.

Florida Real Estate Investing – Where in Central Florida?

Having established the fact that Central Florida is an attractive tourist market, it would stand to reason that a real estate investment in Florida, particularly in the Central Florida area, would be a good deal. But how would you go about locating a desirable area and property for this investment? An initial search would lead you to search for properties listed with major real estate companies or visit craigslist.org in your area. Deciding what type of property is important. Do you prefer a single-family residence, townhouse, or condo? Please note that townhome and condo purchases may offer on-site property management services. Will your Florida buy real estate investment be in a new development or in an older established area? Buying a rental property in a new development often offers pre-construction prices that can be substantially lower than post-construction prices. Are you available to manage the property or do you want to hire a property management company to handle the details of property upkeep, record keeping and tenant booking? Doing it yourself can save you 6 percent or more on rent, but it can end up costing you money if you don’t know what you’re doing. If you don’t plan on living near your rental property, you might be wise to consider spending a few extra dollars to hire a property management company. This will save you headaches and time, your own time for property maintenance and the time it takes to locate tenants.

Florida Real Estate Investing – Consider Davenport, Fl

When considering investment real estate in Florida, just 5 miles southwest of Disney, you’ll discover the quiet and quaint town of Davenport, Fl. Its central yet off the beaten track location gives it an appeal of its own. Davenport, FL is only 2 square miles in size. With its small-town appeal, it is an attractive rental option for tourists. Davenport, FL is less than 30 minutes from Universal Studios, Sea World, Disney World and other Orlando attractions. It’s just an hour and a quarter from the Kennedy Space Center and within an hour’s drive of Tampa (home of Busch Gardens) and Cocoa Beach. After a busy day at the main tourist attractions, what a welcome respite it would be for renters to stay in this peaceful place surrounded by orange groves. Convenience is another draw card with a Super Wal-Mart, open 24 hours a day, just nine miles away. Kissimmee is just a short drive away with its spectacular nightly entertainment options such as Arabian Nights and Medieval Times. Kissimmee’s family attractions Green Meadows Farm and Silver Spurs Rodeo are also nearby. The small-town atmosphere of Davenport, Fl offers a quiet stay that is close to the most popular attractions, including theme parks, family-friendly spots, and great shopping and dining, located not far from the Florida Mall, outlet malls, and the Orlando Mall .

Bimini Bay, Davenport, Florida

Located in Davenport, Fl very close to Walt Disney World is a new development, Bimini Bay. On 80 acres, 360 three-bedroom, two-bathroom townhomes are ready to buy. Davenport, Fl townhomes are turnkey with fully equipped kitchens, appliances, and everything needed to set up the home, including linens. There will also be 360 ​​fully equipped one-bedroom apartments. Planned amenities include a resort pool, two movie theaters with stadium seating, a major chain of restaurants, a large clubhouse, a swimming pool, lazy river, water slides, exercise room, tennis and volleyball courts , along with many other features. The best part of a townhome investment in Bimini Bay, Davenport, Florida is that you take care of the maintenance of the property. The investor gets the benefits of ownership, such as property appreciation and the ability to stay in the purchased property for a minimal fee without the headaches of property management. The on-site management team maintains, markets the property, and insures tenants. The investor receives the same rental income each month, making this a low-stress investment. Managing the rental property yourself or getting a management company for this purpose was discussed at the beginning of this article. Purchasing a property in Bimini Bay ensures that on-site management will take care of all property management issues, while allowing the investor the advantage of a stable income along with the benefit of using the property.

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