Recently, the Real Deal magazine, which covers significant real estate happenings and trends nationwide, held a forum focusing on real estate investment in South Florida. It's a 38-minute video, and here is what I got out of it, and found to be of greatest value, hopefully for you:
- Long-term investors don't worry about up or down markets. Translated, they don't even worry about price. Investor Michael Shvo says it well, "If you build something special in the right location, you're not competing with something in Brickell or in Wynwood. I don't lose sleep at night over undersupply or oversupply."
- We are one of the most attractive places in the country for real estate investors. We have lower taxes, no state income tax. Our real estate growth is ahead of the rest of the nation.
- Lissette Calderon stresses that you have to know your market and who you are going to be serving. She also gave us some words of wisdom on financing, which was echoed by the rest of the panel. "We are taking a conservative approach. We come in with a lot more equity, to minimize the amount of money being financed."
- Florida continues to be one of the fastest-growing states in America. Not everyone will be able to buy, and so owning rental properties is a sound strategy.
- Florida is unique in that development projects can be funded with buyer deposits. Other states do not have this luxury. Increased equity helps protect the investors against risk.
I've attached the entire video here in case you want to hear everyone's comments. They provide a lot of insight into the way investing works--it doesn't matter whether you have millions of dollars or not. The principles are pretty much the same.
Watch: The Real Deal- The next wave of South Florida Development
Stay tuned to this blog for more real estate news and information you can use! What would like to see more of?
-
No comments:
Post a Comment