Florida is teeming with real estate opportunities, particularly for investors interested in residential properties. In fact, the residential real estate market is increasingly attracting the small investor, especially in the southwestern part of the state. These small investors are able to pick up several rental properties, including attractive condos, and then lease them out for cash flow each month.
Many small investors have been able to find appealing deals even with the supply of foreclosure homes decreasing and with home prices rising rapidly in Florida. They are paying cash for the properties they find and are then converting these homes to rentals. This is being done in order to feed the demand of people who are simply uninterested in purchasing homes.
Some in the real estate market are more interested in flipping homes, which remains a popular model for real estate investment. However, many are focused on investing in rentals instead due to today's solid rent yields. Investors made up almost 60 percent of all sales of houses in the metro area, including Sarasota, between Jan. and March 2015. This is the highest the figure has been in the past four years.
The residential real estate market continues to be a significant area of opportunity for people who are interested in buying houses for personal or business-related reasons. Either way, completing a real estate transaction can be challenging. An applied understanding of the law, based upon the advice and support of an experienced real estate attorney, may help to successfully negotiate with sellers and lenders when buying properties in Florida.
Source: heraldtribune.com, "Small real estate investors taking over in Southwest Florida", Josh Salman, May 25, 2015