Real estate is known to go through cycles. Whether the market is experiencing a record high or low, there are always opportunities to take advantage of the market. Analysts predict that Southern Florida is currently on an upswing, just on the verge of entering a real estate boom.
A number of opportunities are available for investors before this boom busts. Three top options include:
- Great time for long term investments. A publication by Forbes notes that the market in Florida is beginning an upswing and projects that the swing will be a large one. As a result, the boom may fizzle a bit after a few years pass. This makes the lure of short term investments less appealing.
- Rental properties are solid. Buying a property in the near future either to convert to a rental unit or that is currently set up this way is a wise investment. Forbes experts predict the rental market will continue to grow, making these properties safe bets.
- Demand for retail and restaurants. Florida is also experiencing a growing demand in the retail and restaurant markets. This could be a wise investment as well.
It is important that those who enter this market do so wisely. Review all documents, contracts, inspections and title searches carefully to better ensure the investment pays off.