According to a new report, Florida is a great place for investors to buy cash-flow rental properties.The data comes from the latest report from RealtyTrac, a company that collects real estate data from around the country and distributes it online.
RealtyTrac Vice President Daren Blomquist says one reason rentals are a good investment is that home prices in Florida continue to be very reasonable.
“When you’re talking about median home prices that are in the $100,000 to $200,000 range, you can rent those properties out for about $1,000 to $1,500 a month," he said. "In Duval County, we’re showing the return of 15 percent on your money."
"It’s hard to get those types of returns in the stock market or elsewhere.”
Blomquist said investors who buy now will probably be able to sell those properties in just a few more years as former home owners recover from past foreclosures and are in a position to purchase again.
Four of RealtyTrac’s top 20 markets for rental returns, Putnam, Hernando, Pasco and Highlands counties, are in Florida.
You can follow Cyd Hoskinson on Twitter @cydwjctnews.
