As you probably know by now, our company is focalized in South Florida, meaning our work is mainly here, so when it comes to finding out the best areas to invest in we have some knowledge that we would love to share with you right now! Through the process of figuring out what works for us and what areas are the best, we have figured out some things to be in the lookout for, and it’s a process which works very step by step and obviously trial and error to see what your business is all about.
So in we’re gonna give you a quick and sweet list we are going to tell you what to look out for an area, as well as the best ones for us in our particular business!
Location – Miami – Dade (Miami Beach, Miami Gardens, South Beach, Aventura)
So, this one is pretty basic, obviously Miami is a good place to invest in, but it’s mainly because of its location, so let me elaborate, Miami is in a prime location, it’s right in the end of florida and it has some of the most famous beaches, obviously Miami Beach and South Beach are the best areas, but being close to either one of them will bring you the right amount of location to make it the best investment area. Miami is highly populated, and more often than not a location made perfect for those who want to rent apartments, houses, duplexes and more, so for all honesty, Miami is the best location you can have IF location and highly priced property with highly priced rents is what your business is all about!
There are some other things to look out for when it comes to this area, and is all about the demographics, so basically you can do a quick google search and find out most of this, but in particular we like to focus for location in particular with best places, it has pretty much all of the information you want to know about when it comes to it, and the main thing we love focusing on is population and its growth, because you want a location in which people are, because the demand for housing is going to always be higher.
There’s even another side of Miami-Dade that offers you more affordable housing and is highly sought out for, such as Miami Gardens, North Miami Beach, Homestead and Aventura, these areas are more for the average family, which is always good if you are into cheaper and constant investments! These are also super well located because they will bring in a ton of tourists while also being in great areas for small families to live in, these places can also be close by to Downtown Miami, which is a great place to be close to!
Prices – Broward (Fort Lauderdale, West Park, Pembroke Pines, Wilton Manors, Pompano Beach, Sunrise)
Broward is the best place for long-term investments, it’s just the best! The reason behind it is literally how the prices are and the people who live in these areas is because they want to stay in them for long periods of time, because they want to raise their kids in a good school district which they have, and they want to be in an area constantly growing and merging in, and this is the perfect place! There’s a tip not many investors go through, and it’s going to change the way you view searching for places to invest in Zillow! I know, Zillow is the worst place to search for stuff, but they offer you a ton of useful information that you can use to your advantage and build up your very own database of properties to be in the lookout for! In this platform, you will find the schools that are in the areas you’re looking for, as well as the crime rate and more, and for those statistics, you can rely on West Park, Pembroke Pines, and Wilton Manors being the best ideas at great pricing! You can even look for it through zip codes and figure out what works out the best for you!
Prices in Fort Lauderdale can very deeply, but usually is very low in some areas and you can purchase cheaper properties to flip back around into great deals, and you can simply rent them out and keep them for a long time before you sell them back up, if you so want to! These areas are amazing for families as well, so rents are always in high demands for these houses, so they are always happy tenants trying to get nice houses! The best part of this area price-wise is the fact that this area offers you an amazing beach town life, without it being overpriced, having beautiful areas like Pompano Beach, and Fort Lauderdale Beach being the main ones!
Suburbs – Palm Beach (Palm Springs, West Palm Beach, Riviera Beach, Boca Raton)
This might sound crazy for the investor, and yeah, sometimes it can be, but working with the suburbs might be the best option for you, and you just don’t know it yet. We have found amazing hidden gems all over Palm Beach in amazing areas, in gated communities and in close to the beach, and the beauty of this houses is that they work perfectly for a good fix and flip, but not only that, near those areas you will also find amazing duplexes and multifamily properties you can invest in, and you will find tenants looking for a good school district which often end up being near those gated communities, for example, in Riviera Beach we have found amazing small apartment complexes bringing in around $9000 per month! We like searching for those in Redfin, they offer a closer look at many properties and they have great filters that you can find them easily.
Amazing areas with big suburbs like Boca Raton and Palm Springs can be your little gold mine, you can buy a property that needs a ton of repairs needed, at a very low price, and you can invest time and money in it and you can rent it out for a ton of returns, keep that property for a long while and make sure you are set for life since rents in those areas are never gonna go slower, and you will always gain, kind of a win-win situation.
When it comes to West Palm Beach, the location, and convenience of this area can be the turn-around, while it does have a ton of suburbs near it, it’s also in a lovely beach and is the closer area of Palm Beach to Broward! In this area, a ton of good properties can thrive, such as short rentals in Airbnb, small apartment complexes, and more! The beauty of Palm Beach County is how great this area can work for those looking to invest in the long term!
Do you agree? What is your favorite area to invest in from the Counties? Let us know if you have different opinions in regards to this, and let us know in what areas you have invested in lately!