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Investing in Florida looks like a no-brainer, prices are so cheap
should go back up before we know it
cheersI went to a seminar presented by Danny Silver in the UK last week and he gave an interesting insight into the US property market. The USA, like any country in the world, does not have a single property market. There are 50 states which are like 50 countries, and each city in each state has its own market, different areas and types of housing within each city have their own property market and so not all areas or states will behave the same.
He told us that there has been a property building boom in Florida with holiday homes in particular. Close to a property that he has owned in the Palm Beach area since the 1980’s there are 27,000 brand new unsold holiday properties within 40 miles. There are large volumes of vacant property all over Florida and so the prices are likely to take a long time to recover there. So, beware the temptation to snap up apparent bargains at knock down prices on the expectation that prices will recover quickly.I am currently investing in 6 properties in the Go Zone where there is a severe shortage of property and demand for housing to rent is high, and the government is providing incentives for investors to buy.See my post “The US Government will pay me $36,500 to rent out a property in the USA”Paul
Viewing 2 posts - 1 through 2 (of 2 total)
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