Check out this article from the Philly Tablet Business section that talks about how Investors are buying at the shore. North Florida is the place to invest in! A hidden jewel of beautiful resort style condominiums that smart investors are picking up for pennies on the dollar.
The term investor needs to be defined, though, just to be clear about what is happening.
“Investor can mean someone who is buying strictly to rent the property out as much as possible for as many years as they plan on owning it, then ultimately selling the place for an expected long-term capital gain at some point down the road,” Leiser said. “We are also seeing buyers who plan to rent their new property for only a portion of each summer and then use it themselves for the rest of the time. Or their plan could be to rent their new place for only a summer or two, before they convert it to personal use.”
Buyers see the current market as an opportunity to possibly “move up” — for example, to a beach block as opposed to a mid-island property — by taking advantage now of lower asking prices, as well as the ability to rent the house out for a while to help them carry the higher price of the more desirable location
Click the link to read the entire Philly Tablet Business News Article.