Investment / Income Real Estate News
New Jersey Real Estate Guys also owns a very popular real estate firm in Ft. Myers, FL. Aside from general real estate, we pride ourselves on diversification in our customers portfolios by becoming diverse property owners. In a lot of areas today, buying real estate is favorable given the market conditions regarding pricepoints and rental rates. Today offers unprecedented pricepoints and the time where most millionaires are made.
In my opinion, leading the nation in appeal for second home buyers or investors is Southwest Florida. Naples and Ft. Myers seem to be absolutely on an aggressive rebound. The median home values are up nearly 20% since February 2009. At its peak the median home price in Lee County (Ft. Myers / Cape Coral) was ~$345,000. In February 2009, the market hit its bottom at settling on a median of $84,000. Today, we are at $101,000. Additionally, unemployment has dropped 1.4% over the last 2 months respectively. Homes below the conforming loan limits of $417,000 are selling very quick and you can now buy a respectable house in a great area for less than $250,000. In the past when investors and second home buyers thought they were priced out of Paradise, today offers historically low prices. Compounded by low mortgage rates, homes are flying off the shelves. I invite you to come down and see us. I always fly in and out of Ft. Myers Int’l Airport. Come down and see for yourself!
Another great area for opportunity is the Smoky Mountains region of Tennessee. Purchasing a resort cabin and applying it to their rental program could be very lucrative to your portfolio. The “Save Our Mountains Act” has applied a construction moratorium in the Smokies in order to preserve the environment and protect views of current development. Recently, we assisted in restructuring the debt of a large resort. Our intentions was to bring developer land price payoff down to favorably combine with the cost of construction of an unbelievable cabin. If you are interested in looking into Tennessee, CLICK HERE to see the article and executive summary to one of the most favorable investment opportunities we have seen in a while. Because of its severe lack of cabins, and Wahoo Zipline which attracts 100,000 visitors annually, the developer is putting his money where his mouth is and offering a developer guarantee of 15% ROI for each of the first 3 years based off the purchase price. Our FL brokerage, who is also a licensed brokerage in Tennessee is acting as the exclusive sales and marketing firm for this resort. We are reimbursing travel expenses with all deals closed.
As for New Jersey income property, Section 8 compliant multi-family homes are becoming very popular especially with the Housing Authority alleviating their waiting list by handing out an additional $10 million in rental vouchers. Section 8 in Newark is most popular, followed by pockets of Passaic County. CLICK HERE to see our article on Section 8. Morris County has been a hot pocket for multi-family home investing. Although most are not favorable for Section 8, higher rental rates are being realized as supply is lower than most areas of the county, and much less than Essex County.
If you are interested in discussing different real estate investment possibilities, call Scott at 877-688-7582 or Contact Us by e-mail. Ask us about investing using your current or a future IRA account. The benefits are unbelievable.
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