South Florida, especially West Palm Beach, has long since been a popular place to invest in property. Having been one of the top selling real estate teams in West Palm beach, our team knows the ins and outs of South Florida real estate investments, including specific neighborhoods to look for (and which to avoid), types of homes that make better investments, and the best time of year to purchase investment properties.
Whether you’re looking to purchase a single-family home, townhome, condominium, or multi-family home,The Pisaneschi Group can help you with competitive rates and flexible mortgage options.
Palm Beach’s Popularity in Real Estate Investments
Palm Beach and West Palm Beach are popular options for real estate investments for good reason–gorgeous beaches, world-class shopping and dining options, events just about every week and not to mention the gorgeous sunshine just about all year long boost appeal with ease.
That said, many people find themselves rushing into investment properties without considering all the variables, and especially in the markets of Palm Beach and West Palm Beach, we recommend doing plenty of research and working with a team that is familiar with all of these variables.
Common Problems with Investment Properties
Purchasing an investment property can be a tricky process, especially if you’ve never gone through it before. There are certain issues buyers need to be aware of, so hiring a team of real estate agents who can guide you through the process with their experience and knowledge is key.
Here are some of the biggest issues when it comes to purchasing investment properties, and our suggestions for avoiding and fixing them.
- Overpaying for an investment property: This happens all the time! Trust an agent or real estate team who understands how to truly value rental income and investment properties based on industry-standard valuation methods like cap rates and cash flow analysis.
- Your property requires unseen or non-obvious construction project: These include electrical, HVAC And structural issues – Your real estate agent should be able to make a referral for an inspector who specializes in investment or rental-income properties. (Don’t worry–we have a few!)
- Your Property Carries an HOA Lien or Other Restrictions: Make sure your agent investigates any potential HOA issues before you make an offer. You don’t want to find yourself with a home with so many restrictions that you aren’t able to actually benefit from the investment.
- Dealing with Related to the Title (common in foreclosure and pre-foreclosure properties): Your agent should have a background in dealing with and working with complex title issues that include things like tax liens and fees.
Trust Real Estate Investments to a Seasoned Team
Real estate investments can produce great financial results, but it’s important to know all the pieces and parts of a transaction. The Pisaneschi Group will review all of these considerations with you as you take the steps through real estate investing. If you’re ready, give us a call! We’d love to get started!