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Florida Property Investment Packs The Perfect Package
October 12, 2009Article by Ray Withers
Florida is currently one of the 3 best destinations for property investment, investment consultancy Property Frontiers have announced. The firm believes that the changes the downturn has made to the mindset of investors has combined with the effect it has had on the Florida property market, to make Florida property investment both a good idea and a very popular one.
Sourcing manager Ben Jeffries explained:
“In the current climate there are two types of investor, those with wads of cash looking to buy distressed property at massive discounts and sell for a huge profit as soon as the recovery is strong enough, and buy-to-let investors who are looking at solid cash-flow properties where they can pay a mortgage with the rental income — mostly the latter.
“They have one thing in common, they are looking for bargains. Florida is perfect for both groups; rental yields are impressive on Florida properties because of its popularity with tourists and it also has a high prevalence of repossessed properties and distressed sales.
“Owners of properties near the popular resorts like Disney World can make excellent yields, because hotel and package holidays cost a fortune per person and each year more and more people cotton on to the fact that private rentals, priced by the group or the family are much cheaper — the internet revolution has helped massively in this.”
Property Frontiers are currently marketing several properties for sale in Florida, all of which are perfect for buy-to-let investors.The Royal Greens development is almost tailor made for buy-to-let investment: the units are completed and 94% have long-term tenants, offering investors a stable 10% rental yield right off the bat.
Royal Greens is a condo development in the upcoming economic hub of Ft. Myers just off the gulf coast. 1, 2 and 3 bedroom Condo houses are available priced from £32,000 — this is over 60% cheaper than at the peak in 2006. Astonishingly 3 bedroom units are just £45,200.
Property Frontiers second Florida property investment opportunity fits those who want to attract the high yield short-term holiday lettings mentioned above. The Cane Island development is just 8 minutes from the entrance to Disney World and offers 2, 3 and 4 bedroom apartments with a 54% discounted starting price of £125,170.
For more information contact Property Frontiers on +44 (0) 1865 202700.