You never know where you’re going to run into another person with the same kind of passion for real estate as you have. I met Sam at a PTA meeting where my kids are lucky enough to go to Somerset Academy Davie Charter School. After the meeting, Sam introduced herself to me and, even though my kids are significantly older than hers, we quickly became friends with common interests.
She had given up her career to become a stay-at-home mom. But, now that the kids were in school more she was getting antsy. She really wanted to start applying her energy to buying, renovating, and selling houses, but she didn’t know where to start finding the most promising South Florida real estate investment properties.
I made the same choice and joined the ranks of women in real estate investing years ago so, I could relate. After all, real estate investing is a career that allows you to set your own hours and be there for the kids. You can even start out part-time and grow your business as your kids grow up, too. So, I invited her to take a walk along the boardwalk on Hollywood Beach and chat about where to focus her investment potential.
Where to Find Promising South Florida Real Estate Investment Properties
You may have heard rumors, like Sam did, that the Florida real estate market is slowing down, but that’s only partly true. While the luxury sector is getting sluggish because of higher interest rates and federal tax code changes, the same can’t be said for the lower end of the market. Simply put, what we are seeing is a bifurcated market, where the higher and lower ends are out of sync with each other. And, that means there are still plenty of opportunities for investing in smaller homes, rehabbing them, then selling at a reasonable after repair value (ARV).
Here are some of the areas I suggested that Sam look to find good South Florida real estate investment properties.
Sandwiched between Orlando and Tampa, Lakeland is often overlooked by real estate investors. It’s a family-oriented city where people frequently commute to the city for work. Students also move to the area to go to Southeastern University or Florida Southern College, and it’s a favorite for others as well. Lakeland offers a nice balance between resort amenities and small town living, with a downtown area suited for pedestrian traffic and outdoor opportunities such as walking along the iconic Lake Mirror or the 1,200 acre Circle B Bar Reserve.
Home prices are more affordable than in Tampa or Orlando, making Lakeland an attractive place to buy a starter home. In fact, demand has caused predicted sales and price growth to go up by 5% and 7.4% respectively this year. Unemployment is on a downward trend with most jobs focused in the areas of education, health care, and tech business. These are not the blue collar jobs of years past, making homeownership within reach of the average salary.
All of these factors make Lakeland a good area to find an investment property. If you can have the right marketing tools for real estate investors, perhaps targeting downsizing retirees, then your chances at achieving a solid ROI are pretty high.
What can I say about Miami that hasn’t already been said? It’s an iconic town every bit as fashionable as New York or Paris. Perhaps it’s the city’s metropolitan feel that attracts so many different kinds of people. Even still, it’s a great place for families to buy homes, as Miami is home to many above-average schools. The neighboring design district is an ideal area for those in the creative professions. And, there are jobs in a variety of industries, as downtown Miami is home to a variety of businesses, ranging from international trade, to finance, to law.
Many investors steer clear of Miami because foreign investment drives up competition and prices, but cash deals have dropped significantly recently, signaling a tide change. More good news is that you’ll likely have plenty of buyers for your rehabbed house. Since the new federal tax reform plan went into effect, a significant number of northerners have rushed into Miami looking for less expensive housing. This has kept the economy strong and, in tandem, home prices in Miami keep rising. That means, if you can find a distressed property to renovate, you may sell it for a good price.
Cape Coral, Florida
Cape Coral is a quiet mid-size city in the Fort Myers metro area along the southern Gulf Coast. Known for its palm-tree line streets, it maintains a tropical sensibility without being a typical beachtown. The area began humbly as a planned community but has since outgrown its roots to become a high-demand, high-growth area.
It’s that continued growth that makes Cape Coral a good bet for real estate investing. Some even say that it’s on the path to becoming the West Palm Beach of Florida’s other coast. With a low crime rate and a local income above the state average, it’s true that housing prices are well-positioned to rise. So, if you can find a distressed house here to rehab and sell, you’ll be sitting pretty.
While these are all great places to buy some of the most promising south Florida real estate, they are not the only good options. South Florida is ripe with opportunities across the state. But, the challenge is getting them before all the other eager investors do.
The Best Source for Qualified South Florida Real Estate Investment Leads
For new investors, like Sam, getting solid leads can be an even bigger challenge than knowing where to get started in Florida. It certainly was for me when I began investing so many years ago. But, that’s exactly why I became an independently owned and operated HomeVestors® franchisee. As a HomeVestors® franchisee I’ve been able to take full advantage of the nationally-known and trusted “We Buy Ugly Houses®” ad campaign.
When distressed homeowners in South Florida need to sell fast, they call me. But, I’m not the only one enjoying a professional real estate investing career fueled by qualified leads these days. Together, HomeVestors® franchisees in 46 states have bought over 100,000 houses since 1996. That says it all.
If your real estate investing business could benefit from qualified leads in South Florida and beyond, contact HomeVestors today.
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