Solid Tips for Investing in Prime South Florida Real Estate

If you want to have a longstanding source of income, real estate is one of the best options for all. The US is a prime source of real estate in the world. Lots of locals and foreigners often look for property in the best communities that the country offers. South Florida is this time around is a nice choice for investors and owners who want to own excellent real estate.

Tips for the Trade

The foremost key to real estate success is to first gain full knowledge of the business and your target area. Take all of the applicable information you can get about South Florida real estate and immerse yourself in it. Sign up for investment seminars, read books about the business and browse sites online that provide methods on how to handle the business.

Furthermore, study the testimonials of investors who have succeeded in the trade. Most important of all though, you need to get the heads-up and remember the standards, regulations, laws and the latest current market conditions if you want to be effective in the real estate game.

You should also learn about market prices and value of South Florida real estate. Employ appraisers or real estate evaluating representatives in case you are wary of how to tackle this. As soon as you are informed of the current market value of a property, it will be simpler for you to confer with sellers. Who knows, this might be your first successful deal.

There are also other aspects that you should look into if South Florida is something you want to invest in:

  • History of the area

If the locale has been a lucrative spot before, then there are chances that its high rate will carry on. South Florida’s real estate record is spotless and to this day, remains as one of the top spots for investors. Its real estate investment history has a sturdy backbone and at this time, increasing its boundaries at a faster level.

  • Facilities and services

These factors make real estate in parts like South Florida thrive and retain its spot as a great location for real estate hopefuls. The area is in a continuous cycle of progress so residents can take advantage of beneficial facilities and services around the area. It is also teeming with recreational spots like beaches, nature trails, resorts and amusement parks. However, keep in mind that real estate costs are also impacted by such factors.

  • Cost of living

First, you have to know how expensive living in the area can be. For instance, vacation rentals in certain cities will offer a higher demand due to the lower cost of living. Factors like basic necessities, taxes and organization expenses if priced higher than usual might make investing in the area appear to be unattractive.

  • Location

Of course, you need to consider the location itself. There are areas in South Florida that are in demand while some are not favored highly by investors. The returns can be exceptional upon buying. However, you need to get ready to do some research before choosing to go on.

There are also investors who recommend investing in bargain property. This is where the seller might be eager to sell the property or land for prices which are 20 percent less at the least compared to the market rate. At times, there is real estate with hidden possibilities. These factors though can be given away without any effort, hence leading to an improvement in property values. In order for this to succeed, you have to get to the bottom of its hidden possibilities quickly, at least within the first six months of buying the property.

 

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Selling Homes in South Florida: Hard Work That Pays Off Nicely

In South Florida, selling a home is no mere feat. It entails effort. In the last ten years, the area has witnessed good growth in terms of real estate. The counties of Broward and Palm Beach are popular with many owners and investors. Because of this rapid growth, lots of homeowners at this time are concentrating on ingenious methods to sell real estate property.

While some of these methods are successful, lots of experts say that the most useful method to sell real estate is to present homes which are maintained really well, at the most reasonable offers.

What Works for South Florida Real Estate

Due to the sizable inventory in the area, property sellers should be sensible and levelheaded when it comes to the price of their properties. It is undeniable that pricing is the be-all, end-all of the location’s housing market, which is now dealing with a shift towards a buyer’s market. Real estate agents in general settle on the fact that a beneficial criterion in establishing if the houses come with the correct prices is to check if the list price arrives in between 1-3 percent over its fundamental market value.

In order for sellers to guarantee that their houses are not recorded for ridiculous prices, choosing a proper South Florida realtor is important for the matter. Potential buyers are getting smart when it comes to their purchases because of the rising amount of choices that they are offered with. Hence they do not want to get hoodwinked by incorrect costs.

The boom which happened in the area’s housing market, which began in the year 2000 until 2005 engrossed inspired lots of hopeful real estate agents all over the US. Lots of these real estate agents got licenses with the hopes of benefiting from quick sales and substantial cuts even if they do not have that much experience when it comes to real estate work.

Due to the presence of agents in South Florida’s housing market, the smartest choice that sellers can do is to employ experienced agents in the location itself. These are agents who have the knowledge in the promotion of homes in challenging market conditions. Seasoned agents who have the edge of pulling on their web of contacts facilitates them to draw in lots of exposure for houses put on sale.

South Florida today is now believed to be a buyer’s market. Thus, house sellers should be creative when it comes to their approach so people will notice their inventory. Agents often recommend sellers to begin promotions through international magazines and periodicals rather than be limited to advertising in local multiple-listing agencies. This is due to the fact that a good lot of these buyers are foreigners who want to live or invest on property in the country.

Another important factor that sellers need to know is to stage homes so it will produce excellent first impressions to potential buyers. The homes should be well maintained. They must not have clutter, should smell good, clean and organized. The lawn must be kept immaculate, and there should be good landscaping as well. There are lots of ideas that sellers can do to attract clients, and the first thing they should focus on is the appearance and the functionality of the home.

 

 

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Upgrades That Add Great Value to Your Commercial Property in South Florida

Responsible commercial property owners need to continue upgrading their units if they desire to benefit from regular rent increases. They need to spend on renovations that add great value to their commercial property without breaking the bank. Some owners spend too much on renovating kitchens and flooring that don’t justify an increase in rental rates. Below are suggested upgrades that today’s renters in South Florida consider top value.

Adding rooftops

For several years now, buyers and renters of homes have become more sensitive to the outdoor space available in a condominium or apartment property. One of the most overlooked types of outdoor spaces is the rooftop. There are many ways to upgrade rooftops such as incorporating sustainable gardens and vegetation that also function as insulation. Creating entertainment and lounging areas on rooftops that showcase chic outdoor furniture is also a great upgrade that justifies the higher price tag. Today’s renters are willing to rent smaller dwelling spaces if the shared outdoor spaces are functional and aesthetically attractive.

Laundry facilities

Recent studies have found that adding laundry facilities to a commercial property boosts rental rates up by $50 to $300 per month. If you don’t have any available budget to purchase and maintain washers and dryers, consider creating a community laundry space your renters can share. Provide dryer hooks and other paraphernalia that make laundry less stressful for them.

Fitness facilities

There has been a move towards healthier living in the past years. It is not surprising to know that a community gym is one of the most highly-demanded amenities in commercial property. Commercial fitness equipment may be expensive, but providing this amenity to your renters justifies a higher rent.

High-speed internet

Nowadays, no one can survive a day without internet. It is no longer considered a luxury, but a basic necessity. In America, as much as 60% of the population either work from home or work remotely. This number is expected to rise in the next few years. If you provide community WiFi in your commercial property, people are more likely to choose your property over others that don’t.

Door upgrades

Believe it or not, door improvements can deliver good return-on-investment options for commercial property investors. Simple upgrades such as painting it another color, replacing hardware, or installing smart locks can add great value in the eyes of your potential renter.

Kitchen and bathroom upgrades

If there are two spaces most frequently used in a home, it’s the kitchen and the bathroom. Kitchen upgrades that commercial property renters consider top value include granite counter tops, tiled kitchen walls, and ample storage spaces. For bathrooms, consider upgrading the vanity and flooring. Keep high quality and style in mind when renovating and designing your bathrooms. Today’s renters are very particular when it comes to bathrooms.

There are numerous ways to upgrade your commercial property in order to generate higher rental income. Remember that in today’s world, both function and style are very important factors to consider when renovating commercial dwelling spaces. As a wise real estate investor, you must maximize your earning potential from each property you own by adding amenities that boost the value of your commercial property.

 

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Why Investing in Affordable Housing in South Florida is the Way to Go

Investing in real estate can be a very lucrative endeavor. However, choosing a focus sector when you start your property purchases can spell the difference between average and amazing profits.

One good strategy is to invest in affordable housing with a goal of providing people in a community with nice and cost-effective dwelling spaces. Below are some reasons why investing in affordable housing in South Florida is the way to go.

Lingering income disparity and wealth gap

We continue to observe economies where the gap between the rich and the poor continue to widen. Majority of a country’s income is made by only a minority of the population. This may be a sad fact but it is the truth, and the scenario is seen to stick around in the decades to come.

Some studies have observed that the middle class in America is diminishing, “squashed” either towards the upper class or the poverty line. Unfortunately, more are moving closer towards becoming poor. This trend is seen to benefit the affordable housing segment as more and more people join the population that drives the demand for more economical lodging higher. It would be logical to pour your capital into the affordable housing sector of the real estate industry.

A limited supply of affordable housing in the market

You may not be aware of the fact that affordable housing is in narrow supply, and the future looks bleak when it comes to having more options in this segment. As we know from the simple law of supply and demand, tight supply will naturally drive market prices up.

Properties will naturally appreciate in value under low-supply conditions. Not only will house prices go up, but even rental rates for these dwelling spaces are seen to rise along with it. If you are invested in affordable housing today, you can expect capital growth and increased rental income in the years to come.

In addition, most construction projects you see today involve properties that cater to the grade A/B market class because it gives the best return on investment for construction companies. There are very few affordable housing properties up for grabs, so take advantage of the available supply while it lasts.

Rent demand will continue to stay especially during recessions

Economies and markets follow a cycle, and in that cycle, there is an upswing and a downturn. In times when we experience an economic downturn, the real estate segment that’s most negatively affected is the grade A/B property sector. These are not entry-level houses, and their upkeep requires a good amount of money.

On the other hand, the demand for affordable housing will remain robust even during an economic downturn as a greater number of people switch to cheaper housing options as a response to the slowdown.

In terms of the real estate industry, we can see that investing in the affordable housing sector can become a lucrative venture in the long run. It proves to be a resilient investment even during economic recessions. The advantages are many and demand for it is seen to linger and even grow in the future.

 

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The Advantages of South Miami Living

Are you on the hunt for prime South Florida real estate? It is time that you check out one of the best that the state of Florida can offer—go south and discover the pleasant of a location like South Miami. This may be a diminutive community, but it has a charm which made it one of South Florida’s hippest.

South Miami Facts

In the beginning, the rise of the area was on the rather slow side. W.A. Larkin, who founded the area, whelmed a post office and as the community progressed little by little, its distinction as a good location also grew. In 1926, inhabitants of the location voted to make South Miami a city in the Florida state.

One thing about this area is that it comes with rather lopsided limits if you compare it with other cities in the state, even the whole of the country. One reason behind this is that it has been condensed two times. It happened in 1933 then brought about once more in the late 30s. As soon as the city was condensed, lots of residents particularly individuals living in the direction of the city’s northern parts, organized court cases to clear out of the area.

South Miami is tagged as the City of Pleasant Living. This is due to its proximity to the Mexican Bay. The area has a largely tropical climate, and this leads to mostly pleasurable weather. The city is located in Florida and is a part of the Miami-Dade County. It covers a segment of only 2 1/2 square miles. This makes South Miami one of the tiniest city in the state but also all of the US.

South Miami might be small in size however its size was not considered an obstruction in the way of development and progress. When it comes to education, it has a great selection. You can find lots of grades, middle and high schools here. There are also private schools available. The city’s infrastructure has improved immensely at a good rate.

For transportation, the city offers plenty of options for residents, and its quality is equal with any progressive city. Because of the availability of great facilities, the city has acquired thousands of residents. Many love living in the city due to the opportunities it offers, and it has all the good elements that a thriving city presents from excellent school systems, better infrastructure, decent transportation and more.

Investment Highs

Real estate for this area is bouncing back at a high rate. The costs have in fact risen in these times. At present, there are only over 100 properties listed in the area. The standard listing cost begins at $600,000. If you can, look for excellent communities like Sevilla Gardens, Fairglade Park, Davis Highlands, Nuevo Mundo, Gables Edge, Merion Park and Blue Lake.

More and more people are investing in South Miami real estate properties. Consider investing in the area not only today but also think through the future when costs may escalate more. South Miami real estate is thriving and at this time, retains its title as one of the most pleasant places to live in.   

 

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The Wonders of South Florida Real Estate

Not a lot of people realize this, but the truth is South Florida has a constant, longstanding flow of revenues which has benefited residents throughout. These days, the economy is booming, and South Florida real estate rates are now considered one of the fast rising in the country.

What Makes South Florida a Great Real Estate Investment?

For those who are not informed, getting involved with South Florida real estate is a great option for owners and investors who want to put forth income for a longstanding period. By making it one of your alternate income resource, South Florida property deals offer a good range of benefits.

One of the most appealing is the tax subsidies which have the power to boost profits. When it comes to income tax deductions, the expenses for insurance, maintenance and screening tenants for the real estate property are brought into it. The expenses for depreciation and mortgage interest are also eligible for the tax deductions.

Real estate property in this area is considered excellent assets. Land, in particular, is believed to be one of the most profitable. If you look at the land rates for the area, these rates are rising every year. This means dual advantages for real estate owners and investors. Firstly, it produces larger quantities of earnings while saving on tax at the same time. This gets done through meeting requirements needed for different tax deductions complying with the government’s taxation conditions.

Secondly, the worth of South Florida real estate market assets, which are definitely rising daily, has a positive influence on the investor’s net worth and this leads to accumulating equity through the years. This also means possessing a property whose rates are constantly rising in value does not cost the owner or investor bigger time investments.

Investing in this Florida location means constant stability because it is not as erratic and changing as the bond or share markets. Even so, there are specific locations which are reasonably consistent. For instance, housing properties whether they are for rent or were bought, are always sought-after. The rising population and a good improvement on the masses’ buying power facilitates them to acquire several real estate properties.

Real estate investors and owners though should be prepared to manage investment for a longstanding period. If they want to understand profits completely, one has to know that it is neither simple to recognize lucrative properties nor to offer them real fast. South Florida real estate investments, just like any other real estate market, needs investors and owners to be patient.

Real estate bids provide individuals the most obvious visions into another individual’s financial investments. You can be assured that a particular investment’s performance will be transparent and exempt from hidden charges.

Lastly, real estate bids give you the most transparent insights into one’s financial investments. One can, therefore, be guaranteed that the performance of such investments will not only be apparent but free from any hidden costs as well.  

 

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Three Reasons Why You Should Still Invest in Real Estate in South Florida

Back in the year 2013, purchasing real estate property at a discount was a fairly easy undertaking. Assets were affordable back then, and not many were looking into it. The investment climate has radically changed since then.

Today, throughout the real estate industry, it is typical to stumble over overpriced properties and premium-priced assets that make deal hunting an almost impossible task. Now if you sit and wait for a good deal to be available, you may just have greater chances of winning the lottery.

An investor in real estate cannot successfully predict where the market direction is headed. Although the real estate industry has evolved into what it is today, there are three good reasons why you should still be investing in South Florida.

The importance of creating a consistent discipline and sticking to it

Markets experience peaks and dips, and depending on the scenario, an investor can discern whether he has to be aggressive or defensive. During dips when prices at the bottom of market cycles, investors in real estate should be aggressive. Conversely, when prices are high at market peaks, investors should be defensive. This creates an investment discipline that can benefit any investor in the long run.

It is said that the best investors in real estate do not just sit and wait for the best deal available. Rather, they are smart and regular real property buyers especially during market downturns, disciplined and consistent in their payments, and patient in waiting for the market to reach its peak. They have the ability to create opportunities that others don’t see and profit from it.

Alternative investments are not as simple and reliable as real estate

One of the greatest quotes by Warren Buffet is, “Be fearful when others are greedy, and be greedy when others are fearful.” Industries and markets other than real estate are difficult to predict with accuracy. The stock market, for instance, is a very volatile market. If you’re not well-versed in chart and market analysis, you will be unable to identify the best stocks to purchase, the perfect time to buy them, and the best time to eventually sell them for a profit. Similarly, foreign currency trading also requires some serious education so as not to lose your hard-earned cash because of wild guesses and rumors.

The most recent investment fad is cryptocurrency trading. If you don’t know much about these markets, it would more dangerous for you than profitable. On the other hand, real estate is a fairly direct and simple industry to invest in. Andrew Carnegie once said, “Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.”

Land is becoming an even scarcer commodity than ever before

We all know that price is driven by supply and demand. Where demand is high, and supply is low, market prices are driven upwards. Since land is a scarce asset/commodity, you can expect its prices to continue to appreciate in time. Mark Twain put it very well when he said, “Buy land, they’re not making it anymore.”

Investing your hard earned money is a serious task, and there is no one way that can guarantee its growth. However, among all available options, the simplest and most reliable means is through real estate.

 

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Six Things to Consider Before Buying Real Estate Property in South Florida

When someone mentions real estate, what commonly occurs to most of us is something that is of high value, and this value will keep on increasing as time goes by. In real life, it naturally does, but not all the time.

Real estate properties in South Florida vary in value, and they do increase, but depending on the location and other factors, not all of them do. That is why taking a step back to consider a few things is a wise move before jumping into a decision of purchasing a real estate property.

  1. Purpose of the purchase

Is the main purpose of buying the property for personal or business use? Do you intend to use it right away or this is for future use? Asking these questions will help you narrow down your options so that you can save time in choosing the right property based on your need.

  1. Location

Where do you exactly prefer the property to be located? If you have already known about some potential properties, is the location appropriate and accessible for your purpose? Does it meet your requirements for the specific uses that you have in mind?

  1. Price

We always want the best value for our money, and this is a smarter move if I may say. Now that you have established the purpose and preferred location of the property that you are planning to buy, check the price. Does it fit your budget? Is the price reasonable for its location and your purpose?

  1. Condition of the property

If you have found properties that meet your requirements for the purpose, location, and price, do not be too eager to sign that check and part with your money right away. Always bear in mind that there are always flaws in what appears to be a good deal. In most cases, lower prices are associated with the condition of the property.

Make a thorough check if the property is still in good shape when it comes to the quality of its materials and construction. You might think that you have made a good deal in buying a large property at a very low price, but it might turn out to be a large breeding ground for termites instead. You don’t want that. Unless you already planned a general renovation, which would cost extra money of course.

  1. Legal status of the property

Once you are settled and starting to use the property, you won’t like it if there will be other people knocking on your door and claiming the property as theirs too, won’t you? Before signing any documents for the purchase, make sure you have checked the legal status of the property to make sure it is clean and available for purchase.

  1. Future market value

Nobody knows what will happen in the future, that’s for sure. Although you must already have specific plans on how to use the property, it is always possible that you would consider selling it in the future.

Considering its future market value is always a good move so that you will be able to properly plan out in case you are going to place it on the market. It will also help you decide if the property is going to be an asset or will just turn into a liability.

 

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Picture-Perfect Projects in South Florida

Imagine that you’re done with the decluttering, cleaning, renovating, beautifying, and everything is set and at the right place. Time for listing, right? Technically, yes. Some homeowners would spend thousands of dollars and hire a professional photographer to take amazing photos of their homes. There’s actually no need for that. Cut your cost and do it yourself! Here are some tips on how to take picture-perfect shots for that winning listing in South Florida.

Camera tricks

A good camera basically does the trick. You don’t need to invest in a professional-grade kit, all you need is a digital camera with at least 10 megapixels. Add in a tripod for steadier and more professional-looking shots. Camera phones are a definite no-no. Although the latest phone models have great cameras, opt for the better output. Save the iPhone shots for selfies for this one.

The secret’s in the styling

Your home may be beautiful, but is it appealing to your target buyers? Charm them with a house that tells a story. Style it in a way that it’s warm and relatable (by adding a few personal knick-knacks and photos of your family in the mix), yet up-to-date and chic (add colors and textures). Time to take out your prized decors and linens from the closet!  

Delight with lighting

Proper lighting is one of the keys to great photos. Believe it or not, it’s not ideal to take photos when the sun is out. An overcast weather is better, with the lights inside turned on. It will give your property that warm, cozy, and homey feel. To avoid overexposing your shots, turn off your camera’s flash.

Find your focus

Does your house have a great view of the sunset or have a roomy kitchen? Make sure that you highlight these features in your photos. Take note that you’re still selling your property, and it’s best to show its strengths through magnificent photos. This will also narrow down your potential buyers, as it will lay out what your house has and doesn’t that fit their requirements.

Edit a bit

Yes, you have the perfect photos, but you can still improve them with a bit of editing. Adjust the color, brightness, or even remove items you think are better to be not included in the shot. There are easy-to-use editing tools available online, or you can ask a friend or family member do it for you.

Show the bigger picture

Do your clients a favor and show them a better view of your home, not just the interiors but also the location. This is one of the biggest considerations when buying a property, and adding this may help you find a new owner. If you have an impressive neighborhood, don’t hesitate to incorporate some shots.

A proper stack of photos can make or break your sale. Just remember that these photos are meant to improve your offer, and your home should back the claims. Let these tips help you get the perfect snaps and score that winning pitch.

 

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How to Invest in Real Estate in South Florida When You Have Debt

In America today, the average college graduate often begins his career already burdened with a five-digit student loan debt. Instead of just aiming their focus at establishing their careers, these graduates begin their journey with a financial handicap. Usual student loan amortizations require large monthly payments which linger for many years to come, hindering them from making financial investments such as real estate.

Good Debt vs. Bad Debt

If you are contemplating about real estate investment in South Florida, you should know the difference between “good debt” and “bad debt.” Bad debts are those that incur high-interest rate charges as well as very short payment terms. Examples of bad debts include car loans and credit card debts.

On the other hand, good debts commonly have low-interest rates, long payment terms, and are tax deductible. Investing in real estate may involve debt, but it is “good debt.” This is because you get to deduct your mortgage investment interest from your total tax bill. In addition, you can also gain from the capital growth of the real estate property you purchase, which typically appreciates in value over time.

Robert Kiyosaki once said, “Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.” This said, even if you currently have a debt, you can still invest in real estate. Below are three ways you can do so.

Look out for income-driven repayment schemes.

Existing loans are like red flags that mark your financial resume. The common practice of lenders is they compute your debt-to-income ratio before they lend you any money. Once they see your existing loan, this may automatically disqualify you from a loan, even if it is for the purpose of investing in real estate.

There is such a thing as an income-driven repayment plan where, for a period of time, your monthly payments can be set to $0 per month. During this period of time, you can qualify for a mortgage, despite your existing loan. However, you must ensure that you qualify for this program.

Consider alternative forms of lending.

There are a number of alternative forms of lending you can explore which don’t take your existing loans into account. Some examples are home equity loans, crowdfunding, and private money lenders.

Strategize better ways to deal with your existing debt.

The best way may well be to devise a strategy to proactively pay off your existing loan. Note that if you are only making the minimum monthly payments, it will take you ages before you can make a dent on that loan. Take control of your income and expenses.

Consider being more aggressive in attacking your debt. Work harder, engage in side gigs where you can make an extra buck, and seriously set aside an extra amount of money regularly for the purpose of paying out your loan. The time to save money is NOW.

Remember, “It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” Robert Kiyosaki couldn’t have said it any better. Real estate investment can be one of the best ways to preserve and grow your hard-earned income for generations to come.    

 

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