Florida Gulf Coast Real Estate – Investor’s Guide
While there are many types of investments with different variables and factors affecting each, there’s nothing quite like investing in real estate – especially in Florida’s Gulf Coast.
The National Association of Realtors recorded more than $68.2 billion in real estate sales from March 2012 to March 2013, with 6% of total home sales coming from foreign investors. Florida is one of the top five states favored by foreign buyers.
Whether you are a seasoned or novice real estate investor or a first-time buyer of US property, the whole process can be exciting yet intimidating at the same time. This quick guide will help you jump right into the world of real estate investment, and it will help you communicate more effectively with real estate agents, mortgage brokers, property lawyers, accountants and other professionals you may need to consult with in the process.
1. Know the market.
There is no substitute for first-hand knowledge. While many experienced professionals will teach you a thing or two about the market, it is still better to find out for yourself the buying and selling trends in the area of your choice as well as the location’s characteristics. Be aware of state policies and regulations as well as certain fees. Be a prepared investor.
2. Know how the property will be used.
Part of planning is determining the future use of a certain property. This will depend on your individual goals as well as the particular options for a specific property in a specific area. Most real estate investments are turned into vacation homes, homes for lease, eventual long-term residences, and so on.
3. Hire professionals.
A successful real estate transaction highly depends on forming a qualified team of real estate, legal and financial advisers. So get a head start by asking for referrals as early in the planning stage as possible. Make sure to double check references to confirm their track records and ask about additional licenses or areas of specialization they might have. At the end of the day, your team is there to help you make the right investment. Rely on their expertise to make the experience less stressful from start to finish!
If you have decided on investing in real estate in the Gulf Coast of Florida, talk to Tracey Clay and Leslie Rudder of Gulf Coast Real Estate Services, LLC today.