BLOG

Growing up in a family that scrimped and saved to successfully invest as much as possible in real estate created a passion for me in the real estate industry and a real interest in investing. After the last real estate crash, with cash to invest and confidence in the long-term strength of the real estate market, I was ready to look for some great investment opportunities. While a licensed broker in Virginia, I found the cost of real estate high in the area compared to the low rents at the time and that led me to seek investments outside of the D.C. area. I was already well invested in the Montreal market and my search eventually led me to North Florida in 2010. Florida was one of the states that lost the greatest value in their real estate during the crash. Most of the loss was due to the large number of second homes and vacation rental properties. While North Florida has a completely different economy than most of Florida, it was equally affected price-wise. This led to some incredible bargains, while still offering a strong rental market. A perfect opportunity. The rent-to-value ratios were terrific. Additionally, the Jacksonville area is easy to fly in and out of - an important consideration if you’re going to invest in property outside of your home area. Investment properties are a great way to diversify your portfolio and bring in additional revenue streams. You have to be careful to make the right decisions though. If you’re a novice investor or just too busy to manage all aspects of the rental, an experienced team is critical in helping you make the right decisions. Long-term tenants are of great value to an investor and the key to long-term tenants is keeping them happy. Having a good property manager can help with that. It’s mandatory if you’re buying property outside of your home area too. After managing investment properties for others and myself, I've discovered there are 6 top questions you need to consider before moving forward with the purchase of a new investment property.