With the Federal Reserve’s recent announcement about its plans to keep interest rates near zero percent through mid-2015, many investors are acknowledging the rare opportunity provided. If ever there were a time to develop a real estate investment portfolio of Fort Lauderdale investment properties, it would be difficult to think of a better one than now.
For seasoned and novice real estate investors alike, the first question is likely to be if opportunities to buy foreclosed homes in Fort Lauderdale exist today. The short answer is yes. However, to be truly successful at building an equitable investment property portfolio, you first need to decide which type of real estate investor you plan to be:
Fix & Flip – To be successful as this type of hands-on investor you need to be handy with home repairs, or have a list of trusted vendors who are, and be familiar with improvement projects and remodels. Generally properties are purchased for the lowest price possible, improvements are made and then the house is sold for a profit as quickly as possible. It is not unusual for this investor to have more than one project going at the same time.
Buy & Hold – To be successful as this type of investor you should have a great amount of knowledge of real estate, including a Realtor with local market expertise, with plans to use the real estate portfolio for its long-term wealth-building potential. The goal of this investor is to buy property at a price that allows for rental income that makes financial sense. That includes properties that foreclosures and traditional sales. Of the two, this can be the least hands-on type of investor, especially if a property management company is used.
If you are interested in buying a foreclosed home in Fort Lauderdale, or you wish to take advantage of the bargains currently on the traditional real estate market, arming yourself with accurate information is key to being successful. At Luxury Living Fort Lauderdale, we pride ourselves on keeping abreast of our local market and sharing that information with clients. We’re so good at what we do that 100% of clients rated our service as “excellent”! Let us know if we can help you develop a buying plan that would complement your investment style.