I have lived and worked in all of South Florida, both the east coast and west coast. The market in Florida is in very bad shape, but there are positive signs starting to emerge. The rental market for single family homes(SFH) is very strong on both coasts if you are a responsible landlord. In SW Florida I have advertised SFH to people with foreclosures on there credit reports, as long as all other credit was good, they could verify employment, and they had references. The rental market is expected to increase over the next years, so if you can get get SFH at attractive prices they are good investments. Also, the same applies to multi-family units; however, the management and maintenance becomes more complicated. The commercial real estate market is in VERY bad shape on both coasts of South Florida. In Palm Beach County, Federal Highway is filled with empty strip malls. In Cape Coral and Ft. Myers the situation is exactly the same. I think the best investment is SFH in SW Florida. You can pick up beautiful homes for under 100k and the rental market is strong. There is no way you could rebuild these homes for the price you can currently purchase them for. Also, there is a lot of room for appreciation when you are buying a SFH for under 100k. I can refer you to my property management company and even assist you with any question you have on the general area.
Aug 23, 2010