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Old 11-08-2008, 01:49 PM
 
10 posts, read 14,505 times
Reputation: 10

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Hello.
I have a question about investing in a property to rent out for a few months of the year.

My boyfriend and I are Canadian and were thinking of investing in either Texas or Florida. We have spent a summer in TX, and were thinking of investing down in south padre island, but Florida also very interesting to us. We plan on exploring Florida this winter- with hopes of investing in a foreclosed home, or condo. I have been doing research for a few weeks now and I'm hoping you guys can give me some feedback and advice! (thanks in advance, this is our first real investment- we have between $200 000- $250 000 to invest)

A few questions I have:

Where in Florida is the most desirable place to purchase a condo??? Are places on the coast best return on your $?? from what i have read Orlando is not very desirable?

Would ft. lauderdale be Good for renting out for a few solid months?

what are the average florida temps. from november - feb?

PS. sorry for asking these silly questions, but i have to start somewhere!

Thanks!!
Chrissy
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Old 11-08-2008, 01:58 PM
 
Location: Venice Florida
1,380 posts, read 5,231,785 times
Reputation: 864
Can I ask a couple of questions back at you?

You say that you want to invest in something and rent it out a few months, would you prefer to rent it out as a vacation rental most of the year? or are you hoping to rent it out off season when you wouldn't be using it?

Why are you looking at condos? Condos have associations that tend to control the number and duration of rentals.

Florida is a BIG state so temps vary greatly, the panhandle has a summer season, while south Florida has season in winter.

If you're looking for a year round investment property look at vacation rental of a single family "walk to the beach" property in south Florida.
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Old 11-08-2008, 02:29 PM
 
Location: Pittsburgh, PA
1,303 posts, read 2,665,018 times
Reputation: 1131
If money is no issue, most tourists would prefer a safe, clean area near the beaches? Do you have a lot of money to lose?
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Old 11-08-2008, 02:41 PM
 
5,969 posts, read 7,720,093 times
Reputation: 1614
Quote:
Originally Posted by Retiredcoach View Post
If money is no issue, most tourists would prefer a safe, clean area near the beaches? Do you have a lot of money to lose?
I agree The price of home near the beach, when combined with the high taxes and outrageous property insurance will cut any profit. But keep investing in Florida, us Floridians could sure use the money.
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Old 11-08-2008, 08:06 PM
 
3 posts, read 8,776 times
Reputation: 10
I agree with FLBob about the condos..... A Single Family Home would be your best bet. However, South Fl isn't the only place to be. I live in the Panhandle in Navarre. This is located between Pensacola & Desin, Fl. I am in the center location (surrounded by 4 military bases) all bases are within 20-35 minutes of each other. 2 Air Force, 2 Navy. We have a great turn around of military clients. So, I would say it is up to you to research by internet population, crime rates, schools, etc (whatever is of concern to you), pack up and go for a visit.
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