Cashing in on Investment Rental property in Central Florida
According to Money Magazine, The rental market is continuing to heat up and can offer potentially big returns for buyers willing to jump into the landlord role.
For investors this is good news. Mortgage rates are at an all time low, with a 30 yr fixed rate at 4.20% and a 15 yr fixed rate at 3.38% and there plenty of opportunities for investors. Rents are rising and demand is up too, partially due to the 4 million former homeowners who've faced a foreclosure and are now renters.
Because of this, more homes are turning into rentals: Nearly 35 percent of occupied homes were rented in 2010, which is a 33.8 percent increase from 2000, according to a recent study.
As of today, there are over 12,000 homes on the market in Central Florida, including Orange County, Osceola County, Lake County and Polk County, ready to be sold to the next investor. Investors are buying rental properties with the intention to hold onto it for a longer time too: On average, investors say they plan to hold onto the property for 10 years before selling, according to a survey by the National Association of Realtors®. If you keep your property that long, you've got a good shot at solid gains, especially if you're financing the home purchase.
To give you an idea of where the prices are, here are the Median prices of some popular cities:
Orlando, FL $ 93,500
Kissimmee, FL $ 90,125
Clermont, FL $150,000
Davenport, FL $ 99,900 (this is a popular area for vacation rentals near the Disney area)
To help you find a find a good deal, make sure you work with a local realtor who has experience with rentals and can help you assess how attractive a given home will be to tenants. Here is a link to other helpful tips on finding the ideal rental property for you:
Thinking about Buying a Rental Property for Investment?
http://www.sellingpolkcounty.com/content/article.html/2690519
When you are ready to start looking, Call or email me to discuss what options work best for you. I've been a real estate expert in the Four Corners Area (Davenport, Clermont, Kissimmee, and Orlando) for over seven years, and I've had the opportunity to help many investors and sellers with their Real Estate Needs. I look forward to working with you too.
Christine Selzler
Original article posted in Money Magazine - Cashing in on Rental property €" Money Magazine
For investors this is good news. Mortgage rates are at an all time low, with a 30 yr fixed rate at 4.20% and a 15 yr fixed rate at 3.38% and there plenty of opportunities for investors. Rents are rising and demand is up too, partially due to the 4 million former homeowners who've faced a foreclosure and are now renters.
Because of this, more homes are turning into rentals: Nearly 35 percent of occupied homes were rented in 2010, which is a 33.8 percent increase from 2000, according to a recent study.
As of today, there are over 12,000 homes on the market in Central Florida, including Orange County, Osceola County, Lake County and Polk County, ready to be sold to the next investor. Investors are buying rental properties with the intention to hold onto it for a longer time too: On average, investors say they plan to hold onto the property for 10 years before selling, according to a survey by the National Association of Realtors®. If you keep your property that long, you've got a good shot at solid gains, especially if you're financing the home purchase.
To give you an idea of where the prices are, here are the Median prices of some popular cities:
Orlando, FL $ 93,500
Kissimmee, FL $ 90,125
Clermont, FL $150,000
Davenport, FL $ 99,900 (this is a popular area for vacation rentals near the Disney area)
To help you find a find a good deal, make sure you work with a local realtor who has experience with rentals and can help you assess how attractive a given home will be to tenants. Here is a link to other helpful tips on finding the ideal rental property for you:
Thinking about Buying a Rental Property for Investment?
http://www.sellingpolkcounty.com/content/article.html/2690519
When you are ready to start looking, Call or email me to discuss what options work best for you. I've been a real estate expert in the Four Corners Area (Davenport, Clermont, Kissimmee, and Orlando) for over seven years, and I've had the opportunity to help many investors and sellers with their Real Estate Needs. I look forward to working with you too.
Christine Selzler
Original article posted in Money Magazine - Cashing in on Rental property €" Money Magazine
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