lorida has always been the returns that are extremely
holidaymaker’s paradise. profitable.
This state in the
southwestern US has miles and Condos, apartments and houses are
miles of white sand beaches to the most common form of
which the rich and well heeled residential property in Florida.
flock to every year. Tourism and The main reasons to Florida real
hospitality industries are highly estate investing are:
developed. You can strike gold
with investing in real estate in • It has a sustainable economy
Florida. because of its consistent top
ranking as preferred choice for
The beaches of Florida are like family holidays and business
no other anywhere in the world. meetings.
The warm, sunny weather and mild
winter make it an attractive • While it might seem that the
destination round the year. As beachfront is saturated with
the tourism boom caught on, high-priced properties, the truth
associated industries like is much land is still available
hospitality and family for development. This means
entertainment have seen affordable properties at lower
consistent innovations to attract rates can be bought if only one
more customers. Luxury hotels, took the effort to scout out.
beachside resorts, golf courses,
movie theaters, family amusement • Florida has well developed
parks and museums keep Florida infrastructure. It also boasts of
humming with tourist traffic. good educational facilities.
Therefore, owning real estate
either as residential or • The state has nil income tax
commercial purpose can bring and low tax on real estate. The
returns from real estate the herd approach of sticking
therefore translate as higher only to glamorous localities.
balance with the bank. Local law in Florida prohibits
passive investing. So, choose a
• Home mortgage rates are the property option that would bring
lowest in the country hovering good rentals as well as make you
around 6% for a 30-year loan. comfortable living there.
There are just a couple of things Copyright © 2006 Joel Teo. All
you should watch out for. Pick up rights reserved.
properties in areas with good
growth potential. Move away from
About the Author:
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