Florida - The Sunshine State

They nailed that slogan!  I've been here in South Florida for two weeks and have seen only a few drops of rain the entire time.  Now I've moved a little further up from the Gold Coast to St Augustine, the US's oldest established city and still great weather.

Studio Condos in South Beach

My reason for being here - simple.  More and more people have been asking me about investing in Florida real estate.  I decided to take some time to explore a few of the markets which have been mentioned and can say that I'm personally very impressed with what's out there and how much bang you can get for your buck.  There's nothing like it in the CEE. 

First, there's Miami Beach which is a personal favorite.  I found studio condos two blocks from the beach completely furnished for $60,000 to $80,000.  Another property, an older 80 sq meter (810 sq ft) two bedroom unit in need of reconstruction, for $100,000.  It was in the heart of SOBE (South Beach) - three blocks from Lincoln Road and two blocks from Ocean Drive.  And still there are others in mid beach and north beach for less but equally interesting because they're all still "on the beach" - just not SOBE.

$78,000 2 bedroom home in Homestead, FL

Then there are the single family homes (SFH) within a short drive from Miami for less.  They are houses that were caught up in the foreclosure frenzy and are now renting at $600 to $1,000 per month.  These homes, many believe, will appreciate faster than the condos only because Americans will once again want to own their own home.  Once the country recovers you'll see people who were once renting going back to home ownership.  

So a lot is out there for you.  Just depends on the route you want to take.  Both can be excellent long term investments.  A condo has more up front costs such as the monthly home owner association dues (which typically average about $250-$300 per month) but they're fairly easy to manage from afar.  Those dues cover things like repairs and maintenance of the building, roof, elevator, etc.  Single family homes are more for the long term renter but you might have maintenance/repair issues as time goes on - from a simple repair to  new landscaping for example, after a tenant moves out.


If you're considering investing in real estate, now is as good a time as any and South Florida is one of the best places I've seen in recent years.  It's been out of reach for many people for so long but prices have come down to affordable levels.  And with the rental market going strong, even the most conservative investor  gets very reasonable returns.


For more information send me an email or message here and I'll get back to you.  I'll be happy to help you find you're place in the Sunshine State.