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What You Should Know About Owning a Vacation Home in Florida

Florida is one of the most frequently traveled destinations in the U.S. With that said, owning a vacation home can be a fun and profitable experience. If you currently own a vacation home or are considering owning one in Florida, you might be wondering what you should be prepared for. For this reason, we’re going to share three things to consider as you prepare for homeownership in Florida.

Owning a Vacation Home: The Perks of Florida Real Estate

Living in Florida offers a unique lifestyle for residents, which is why it is one of the most desirable places to live. With the presence of beautiful beaches, warm weather all year round, and numerous attractions, it is no secret why Florida is an investor’s dream.

One of the greatest perks of owning a vacation home in Florida is that it can be a very profitable business. Florida has a wide range of home inventory at great prices, along with state incentives such as state, local, and housing programs that make accessing property a lot easier, according to the Florida Department of Management Services. Even more, considering Florida’s robust economy, homeowners have a great opportunity to gain financial freedom by seeing a great ROI when renting.

Owning a Vacation Home: Insurance Policies

With all the perks of Florida real estate, it’s important to consider other important things such as certain insurance policies you need to protect your Florida home. For instance, according to Century Insurance, homes that go months without being inhabited are more likely to need repairs. Having insurance will help you cover the cost of unexpected repairs that you experience along the way. Ultimately, homeowners should understand the financial responsibilities that come with Florida homeownership and prepare accordingly. Outside of standard home insurance, it’s a good idea to invest in other insurance such as Flood and Hurricane insurance. Florida often experiences unavoidable natural disasters that can cause damage to your vacation home. Having the appropriate insurance policies will not only help protect your property but it will ultimately save you money in the long run.

Most Florida Residents Rent

Are you investing in a vacation home with the intention of selling? Or is your goal to rent it out? If you are interested in investing in real estate in Southwest, Florida, then know that renting is commonplace, according to Marketwatch. Renting is influenced by a lot of factors such as population, economy, and cost of living. For this reason, it’s important to consider your goals for your investment, as well as, what specific cities you want to invest in. For instance, in areas where the cost of living is lower, you can expect more people to purchase a home as it is more affordable. However, in coastal areas, people tend to rent as the cost of living is higher. Understanding your expectations will help you determine what is best for your property and how you should proceed forward.

Florida’s unique economy continues to thrive, which is why most real estate investors want a piece of Florida’s pie by owning a vacation home. With that said, Southwest Florida is the perfect opportunity to own a vacation home and reap some great benefits in the process. Before diving in though, it’s important to consider these factors to make sure you are meeting your expectations with your vacation home.

If you want to learn more about investment opportunities (owning a vacation home is just one) in southwest Florida, come to one of our general meetings!

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


The Main Dangers of Flipping Houses

Flipping houses is one of the top active real estate investment strategies. If you’ve recently purchased an investment property or are looking to do so in the near future, you might be looking to flip your investment.

Make sure you don’t lose money on a risky investment by avoiding these 5 common dangers when flipping properties:

Flipping Houses Danger: Not Calculating All Expenses

Financing your investment property can be expensive. If you’re financing the purchase of the property, you’ll need to make sure you’re able to finance the entire venture. That includes paying for renovations (the renovation crew, materials, and unforeseen expenses). You’ll also need to include any property taxes you may be responsible for.

Be sure to calculate all expenses before taking out a loan on your investment property.

Danger: Running Out of Time

There can be time limits involved in flipping houses. Maybe you’re planning for renovations to be complete by the peak selling time in your local market. Or maybe you took out a short-term loan that is due by a certain month.

Whatever the reason, renovations take a considerable amount of time and a number of construction projects often run long due to unforeseen issues.

Make sure you build extra time into your plan when calculating your timeline.

Flipping Houses Danger: Forgetting about Insurance and Mortgage Expenses

If you’re financing your investment property, you’ll need to pay homeowner’s insurance and the home’s mortgage while renovations are being performed. And, since you’re not using this property as your primary residence, these costs are often above market value.

Be sure you have enough money to cover these expenses for more than the allotted timeline of your project — just in case it runs long.

Danger: Low-balling Renovation Costs

Renovating a home is expensive. If you bought a fixer-upper or even if you’re looking to improve a home in a top neighborhood, your expenses will be high. It’s important to talk to renovation crews ahead of time to calculate how much money you’ll need to spend on top of financing your investment.

You want to make sure renovating the home is a worthwhile expense, so you don’t end up losing money or breaking even.

Flipping Houses Danger: Over-Estimating the Market

We’ve all heard about success stories from flipping houses, but it’s important to be realistic when setting your goals. You have to do market research and understand the health of your local market and whether or not it’s expected to grow or decline.

Plan your investment property for peak season, when there are more buyers or renters willing to pay top dollar, to maximize your ROI.

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


How to Avoid Top Real Estate Investing Mistakes

You must avoid real estate investing mistakes to succeed long term. Investing in real estate can lead to a lucrative career or side-hustle with unlimited earning potential. However, in order to turn your real estate investments into a bustling business, you’ll need to avoid a few key mistakes.

Avoid Top Real Estate Investing Mistakes: The Real Estate Market Is Not Foolproof

First, it’s important to understand that the real estate market is not foolproof. Even though market trends can be tracked and predicted, the market can still be unpredictable. It’s important to follow your local market trends closely, so you’re as in tune as possible with where the market is expected to go and the key drivers causing growth or lags.

For instance, if you were to invest when real estate demand is high, you might be more at risk for reselling a property for less than you invested, simply because the demand has gone down as the market fluctuates. Being aware of how your local market fluctuates typically, can help you avoid this key mistake.

Avoid Top Real Estate Investing Mistakes: Never Overpay

Next, you’ll want to avoid overspending on an investment. If an investment property seems to good to be true, it may be. Sure, the purchase price might be low, but how much will you need to spend in renovations to get it up to code and up to buyer standards? Calculating all of your expenses upfront and determining what areas of neighborhoods buyers are interested in paying top-dollar for can mitigate your risk.

It’s important to understand the vacancy rates in your area.

Lastly, if you’re looking to manage your investment property (whether as a property manager or landlord), it’s important to understand the vacancy rates in your area. Not only will this help you accurately price your rental units so you’ll find tenants, but you’ll be able to understand the turnaround time for finding new tenants. While every landlord hopes their tenants will become long-term renters, you’ll need to do some research in the area you want to invest in to understand rental trends.

Like any investment, real estate investing is not without its risks. As long as you’re aware of the risks and come up with a solid investing strategy, you’ll be able to minimize your chance of running into these risks as much as possible.

Be sure to research investment strategies as much as possible and use your local market research to inform all of your investment decisions.

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


Rules for the New Real Estate Investor

Are you a new real estate investor? You might be feeling overwhelmed by the amount of information that exists on the topic of investing.

While there is an unlimited amount you can learn online, from books and through other investors, we’re here to make the topic a little bit simpler, so you can get off on the right foot.

Rules for the New Real Estate Investor: Start Small

You’ll learn so much through trial-and-error, so minimizing your risk is key when you’re a beginning investor. No matter how many tips and tricks you’ve read, I can’t stress this one strongly enough — start small.

This doesn’t necessarily mean you can’t make a big purchase, just take your time and plan out each part of the process in small steps. Do you want to buy your first investment property? Make a 12 or 24-month plan to help you meet these goals and take it from there.

You shouldn’t go into debt on an investment property, especially your first one. Starting small and accomplishing little goals along the way will help you stay on track and prevent you from making any risky moves.

Rules for the New Real Estate Investor #2: Make a Commitment

Now that you have your plan, you need to commit to following through. The reason so many potential investors fail is because they don’t see their plan to fruition. Once you have a plan and smart strategy in place, it can be easy to fall prey to your own doubt.

While you should always double-check the market and your own math, don’t doubt your ability to handle becoming an investor. The best investors got to where they are today by going all-in on their dreams. If you don’t stay committed, you’ll end up staying stuck exactly where you are now.

Rule #3: Stay Focused

Diversifying your portfolio can be a smart investment strategy. However, when you’re getting started, it can be very easy to want to go in a million different investment directions all at once. This can lead you down a dangerous path, where you’re putting all of your money into too many investment opportunities at the same time.

Don’t lose focus on your initial strategy. Is your goal to become a property manager? Focus on that first! Do you want to buy a small investment property and rent it out? Keep your goal in mind! You can always do more down the line, but stay focused on your top priority when starting out.

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


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