Florida real estate investors who were once seeking only to invest in the well-known Southern-most Florida cities of Miami and Key West are now turning their attention to other coastal and Panhandle cities in Florida real estate. Florida is one of the fastest growing states in the country right now. Statistics show that whenever people begin to flock to an area, the real estate market takes off right after it. This is one of the many reasons that Florida real estate is one of the best for real estate investors right now.
The state of Florida experienced a 2.3% increase in population in 2005. This made it one of the top ten fastest growing states in the country. While the overall population of the entire state of Florida has increased in recent years, that doesn't mean that a Florida real estate investor can just randomly select a city in which to invest their money. Some of the fastest growing cities for Florida real estate investment include Panama City, Lakeland, Pensacola, and Fort Walton Beach.
Because of hurricane seasons Florida real estate investors should check statistics for the parts of the states that receive the least amount of hurricane damage. This is especially true for Florida real estate investors who are seeking to invest in rental property. Many people that are new to the area are wary of hurricane areas and are moving to cities that get hit less frequently. The areas that receive lower amounts of damage include Tampa, Jacksonville, Tallahassee, and cities along the Florida Panhandle.
Another investment idea for Florida real estate investors is beachfront property. While this kind of property is one of the most expensive kinds to purchase, it also has a potentially high resale value. Not only that, beachfront condo or home can rent anywhere from about $500 to $5000 for a one week stay. On the downside, people seldom rent during the winter months so there is only about a 2024 week rental period. For upscale properties yield up to $100,000 to $120,000 per year. Since beachfront properties are fairly expensive, beginners or investors with only a fair amount of capital to invest should shy away from this kind of Florida real estate investment.
Florida's white sand and blue green ocean water is just two of the things that keep people coming to the area year after year. Whether they are new residents to the area or just tourists enjoying some sand and sun, the one thing they will always need is a place to sleep. This is what keeps Florida real estate at the top of the list for investors. |
