Northeast Florida is one of the best places to buy residential rental property
When you think about buying real estate, the first thing that probably comes to mind is your dream home. However, many people are looking at property as a way to diversify their investment portfolios.
A recent Gallup poll showed that Americans rank real estate as their No. 1 choice for the best long-term investment when compared to stocks, savings accounts or gold. When approached correctly, investing in real estate can be a profitable way to generate significant returns.
Berkshire Hathaway HomeServices Florida Network Realty Broker-Associate Wes Mock has been investing in real estate for nearly a decade. Mock got his start in real estate investing by flipping houses – buying a home, renovating it and reselling it at a much higher price. More than half of his real estate business is working with investors.
“This is an excellent time to invest in a real estate property and there are many different opportunities available,” Mock said. “If you have done the proper research and determined the specific way you want to invest, real estate has the potential to be a solid investment.”
Investing in a rental home can pay off. A rental home can generate a consistent income stream that comes with unique benefits including the potential for price appreciation and tax advantages.
“The rental rates are the highest I have seen in years,” said Realtor Shelby Heinemann who leads Florida Network Property Management. “We are pricing rental properties approximately 10 percent above what comparative properties rented for in the last year and they are renting in less than 10 days. In fact, I recently had two properties in Nocatee that rented in less than 24 hours.”
The Real Wealth Network lists Jacksonville as one of the Best Cities to Invest in Rental Properties in 2019, citing its strong local economy and project population and job growth. Northeast Florida offers great opportunities for investors, especially those looking for a strong cash flow and long-term economic stability.
“Financing for investment properties is available and more affordable than most people think,” said Prosperity Home Mortgage Regional Market Manager Eric Spottswood. “Investment financing and approval guidelines mirror those of primary or secondary residences closely when it comes to income, assets and credit, and the property can be closed in 30 days or less.”
A rental investment property can generate income to pay for a college education or fund another venture. Invest in a rental property when a child is young and watch the investment property earn sizeable equity over time. The Berkshire Hathaway HomeServices Florida Network Realty team offers all of the services and resources needed to buy, sell, finance, close and manage your investment properties under one roof, allowing investors to move forward with clarity and confidence.
“Before making an investment, you need to understand the real estate market, your risk tolerance and what type of investor you want to be,” Mock said. “Some investment opportunities do not make financial sense. Our team can provide expert analysis and access to the resources and expertise of our knowledgeable and valued partners, helping potential investment buyers determine if an opportunity is the best direction to achieve their goals.”
The team at Berkshire Hathaway HomeServices Florida Network Realty specializes in working with savvy investors as well as those who are new to the market. For more information, call (904) 296-6400 or visit FloridaNetworkRealty.com.
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