Guide to Buying Residential Properties for Investment

Are you looking to buy Florida homes for investment? In the long run, real estate has proven to be a reliable choice for investors. We help individuals, business owners, and professionals reach their real estate investment goals by finding the best deals on Florida residential real estate.

Purchasing a home to rent or flip can be highly profitable, as long as you have a trusted team in place to help complete the acquisition and the financial means to carry the property during renovations and subsequent sale. An experienced real estate team with knowledge of the local investment market can guide you safely through every step of the process.

While no investment is without risk, a conservative and well-planned investment in real estate can supplement your income and set you up for future financial security. If you are considering an investment in real estate, please get in touch with us to set up a free consultation. We have experience working with all types of investors and can help you determine the best strategy to meet your investment goals.

Discover Mayfair at Lake Wellington

3-Bed / 2-Bath + Garage for $309,900 • RX-10601407

Enjoy wide water views from every room! This 3-bed/2-bath first-floor carriage home commanded a significant builder premium when new and is uniquely situated on the nicest corner lot in coveted Mayfair at Wellington.

This home features an open plan, screened lakefront porch, private covered entry, Corian counters, maple cabinets, tumbled stone backsplash, 10-foot ceilings, accordion hurricane shutters, attached garage, large ensuite master with separate shower with walk-in spa. Learn More

Property Highlights:

• Lakefront property with garage
• Private covered entry and storage closet
• Screened-in porch with panoramic water views
• 55+ community with gated access, pool & clubhouse

This post has been authored by Eric Slifkin, a Broker Associate at Keller Williams Real Estate and the founder of the Slifkin Real Estate Team. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including  Stuart, Hobe Sound, Palm City, Port Saint Lucie, Jupiter, Tequesta, and the Palm Beaches.

Fresh Ideas for Buying Stuart, Florida Investment Property

If you've ever considered owning a rental property in Stuart, Florida, or the Treasure Coast but haven't much liked the thought of a traditional tenant/landlord relationship, perhaps some of these alternative ideas will spark your imagination.

Vacation rental properties: It's no secret that seasonal rentals in Stuart, Florida, are in demand. With worsening Northern Winters, quality rental units are in short supply and command top dollar.

As an investor, there's no need to take on long-term renters when you use your property for short term accommodation for Snowbirds heading south for the Winter. Services like airbnb.com, VRBO.com, and HomeAway.com are great places to list your property, or you can arrange for marketing and management by a local Realtor.

If you're considering this type of rental investment, be sure to look for properties with amenities that tourists would find a plus (especially beachfront condos and pool homes near restaurants, recreation, shopping, etc.)  

Corporate housing: There is increasing demand in the Stuart area for short term corporate housing for relocating personnel as well as renters building new homes. Executives or small teams visiting from other cities can get tired of the hotel life, and having a residential option close to the office is a great option. Forming a relationship with local firms, builders, and real estate agencies offering relocation services is a great way to generate cash flow for short-to-intermediate term occupants. 

If you're curious about properties in the market which could be a good fit for any of these scenarios, get in touch today. I'd be happy to help you optimize your investment property strategy by helping you with your search.

This post is by Eric Slifkin, a Broker Associate at Keller Williams Real Estate and the founder of the Slifkin Real Estate Team. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including  Stuart, Hobe Sound, Palm City, Port Saint Lucie, Jupiter, Tequesta, and the Palm Beaches.

Relocating to Stuart, Florida: How You Visit Matters

Are you considering a move to Stuart or the Treasure Coast area? Maybe you're trying to make the choice between two or three potential options. If so, how you visit your future home can have a dramatic impact on which one makes the final cut.

By making a few subtle shifts in how you prepare for your visit to Stuart (and how you spend your time while you're in town), you can gain more useful insight into our community.

Tip 1: Stay a week if possible
While a long weekend might be your only shot, you can get a much better perspective on a place if you have enough time to unwind. A mix of weekdays and a weekend is a great way to get a view of the rhythm of Treasure Coast lifestyles. If you have a long time to plan, visit us in Summer as well as Winter.

Tip 2: Find a short term rental
Renting for several weeks or months will not only provide you a little more room and the facilities of real living space, but you'll get a better sense of what it might be like to really be here."

Tip 3: Explore some on foot
Driving aimlessly can be a good "survey" technique (and indeed, getting lost is a good idea, too), but walking neighborhoods and downtown districts will give you a vivid sense of the community.

Tip 4: Get the local low-down
Before you go, find friends-of-friends on Facebook and other social media sites who can give you an idea of the must-see places that locals love. Use this list as your guide, not the tourism brochures.

Tip 5: Pay attention to what matters to YOU
Remember: You're the one thinking of living here. Don't let what others see as the main benefit to the town be what guides your decision to live here. Go with your gut, your values, and your comfort level!

By the way, I'm glad to help you sell your home prior to the move, or refer you to a trusted agent in your present city. Just get in touch!

This post has been authored by Eric Slifkin, a Broker Associate at Keller Williams Real Estate and the founder of the Slifkin Real Estate Team. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including  Stuart, Hobe Sound, Palm City, Port Saint Lucie, Jupiter, Tequesta, and the Palm Beaches.

Successfully Investing in Florida Real Estate

In the long run, real estate has proven to be a reliable choice for investors. While no investment is without risk, these top ten tips will help you avoid some of the pitfalls of real estate investing.

Top 10 Tips for Florida Real Estate Investors

1. Get Educated

   
   Knowledge is the new currency. Without it, you are doomed to follow other people’s advice without knowing if it’s good or bad. Educating yourself will help take you from being a “good” investor to becoming a great investor.
   
   

2. Set Goals

   
   Setting clear and specific investment goals becomes your road map and action plan to become financially independent. You are far more likely to achieve financial independence by identifying specific and individualized goals than not doing anything at all. Your goals can include the number of properties you need to acquire each year, the annual cash-flow they generate, the type of property/location, and even the rates of return required.
   
   

3.  Never Speculate

   
   Always invest with a long-term perspective in mind. Never speculate on quick short-term gains in appreciation, even in a hot market with double-digit increases. You never know when a market will peak, and it’s usually six to nine months after the fact when you find out. Don’t chase appreciation. Rather, only invest in prudent value plays where the numbers make sense from the beginning.
   
   

4. Invest for Cash-Flow

   
   With few rare exceptions, always buy an investment property with a positive cash-flow. The higher, the better. Your cash-on-cash return is directly related to the before-tax cash-flow from your property. Cash-flow is the “glue” that keeps your investment together. Your equity will grow over time (through appreciation and loan amortization), while the cash-flow covers the operating expenses and debt service on your property.
   
   

5. Be Market Agnostic

   
   The United States is a vast country made up of hundreds of local real estate markets. Each market moves up and down independently of one another due to many local factors. As such, you should recognize that there are times when it makes sense to invest in a particular market, and times when it does not. Only invest in markets when it makes sense to do so, not because you live there or you bought property there before. There’s an element of timing, and you don’t want to buck the trend.
   
   

6. Take a Top-Down Approach

   
   Always start by selecting the best real estate markets that align with your investment goals. Most investors start by analyzing properties with little to no regard for their location, which can be a big mistake if you don’t consider the investment in light of the market and its neighborhood.
   
   The best approach is first to choose your city or town based on the health of its housing market and local economy (unemployment, job growth, population growth, etc.). From there you would narrow things down to the best neighborhoods (amenities, schools, crime, renter demand, etc.). Finally, you would look for the best deals within those neighborhoods.
   
   

7. Diversify Across Markets

   
   Focus on one market at a time, accumulating from 3 to 5 income properties per market. Once you’ve added those 3 to 5 properties to your portfolio, you would diversify into another prudent market that is geographically different than the previous one. Typically that means focusing on another state.
   
   One of the underlying reasons for diversification within the same asset class (real estate), is to have your assets spread across different economic centers. Every real estate market is “local,” and each housing market moves independently from one another. Diversifying across multiple states helps reduce your “risk” if one market decline for any reason (increased unemployment, increased taxes, etc.).
   
   Even if you don’t live in Texas, you can invest in the Houston Real Estate Market, which is becoming a hotbed of buyer activity that could be beneficial for real estate investors. Just ask the multitude of overseas investors who are choosing Houston as the city of choice to invest in for the foreseeable future.
   
   

8. Use Professional Property Management

   
   Never manage your properties yourself unless you run your own property management company. Property management is a thankless job that requires a solid understanding of tenant-landlord laws, excellent marketing skills, coupled with strong people skills to deal with tenant complaints and excuses. Your time is valuable and is better spent on your family, your career, and looking for more property.
   
   

9. Maintain Control

   
   Be a direct investor in real estate. Never own real estate through funds, partnerships, or other paper-based investments where you own shares or other securities of an entity you don’t control. You always want to be in control of your real estate investments. Don’t leave it up to corporations or fund managers.
   
   

10. Leverage Your Investment Capital

    
    Real estate is the only investment where you can borrow other people’s money (OPM) to purchase and control the income-producing property, which allows you to leverage your investment capital into more property than buying using “all cash.” Leverage magnifies your overall rate-of-return and accelerates your wealth creation. As long as you have the positive cash-flow and your tenants are paying off your mortgage for you, it would be foolish not to borrow as much as possible to buy more income property.

Interested in Retiring in Another Country?

There are many excellent reasons to enjoy a complete change of scenery during your retirement years. However, there are also many issues to evaluate before selecting a destination and making a move. Carefully consider all the questions below to help ensure you’ll love your retirement country and home. Download Flyer

RESIDENCY

What are your visa options and are there any restrictions?

HOUSING

What are the costs associated with buying (or renting)?

Are there any restrictions on foreign ownership?

How does financing a home purchase work in a particular country (an all-cash transaction may be preferable)?

OTHER FINANCIAL

What are the potential impacts of currency fluctuations?

Will you have easy access to banking services?

Are there restrictions on moving money in/out of the country?

TELECOMMUNICATIONS

Will you be able to communicate easily with friends/relatives back home, and enjoy in-home entertainment, etc.? This will depend on access to high-speed Internet, cellular service, and potential time zone differences.

TAXES

What are the income tax rates? (for U.S. citizens, foreign income is also taxable in the U.S.) What should you budget for property and sales taxes?

HEALTHCARE

Will you have easy access to quality care? At what cost (including medical insurance)? If government healthcare is offered, does this extend to foreign residents?

SAFETY

Will you feel safe? Is the country government stable?

LANGUAGE

Will you be able to communicate easily with locals and/or are you willing to learn a new language?

CLIMATE

Will you enjoy year-round living? Or would you prefer a seasonal retirement?

TRANSPORTATION

How easy is it to fly in/out of the area and to get around locally—whether in a car, on foot, or using public transportation?

SECOND CAREER

Are there any restrictions on accepting a local job or starting a new business?

THINGS TO DO

Does the area offer good dining options and entertainment venues? Access to recreational activities The ability to meet people, both locals and other expats?

SHOPPING

Will you be able to purchase familiar and/or new grocery items? What are the local retail shopping options? Will you be able to receive online shipments?

Online Resources

There’s no shortage of articles and independent websites sharing rankings and tips on living and retiring in another country. Some of these resources:
 

• Escape Artist – Wide variety of information and analysis on living, working, traveling, investing and retiring abroad. escapeartist.com
• Expat Exchange – Miscellaneous articles on overseas retirement, based on input from expat contributors. Also offers numerous country forums. expatexchange.com/retire
• International Living – Print magazine and online journal providing extensive reporting on the best places to retire, world rankings, and related topics. internationalliving.com
• Investopedia – Offers extensive and up-to-date (U.S.-oriented) reporting on planning for retirement, including a helpful “best countries” list. investopedia.com/retirement
• Live and Invest Overseas – Publishes an annual Overseas Retirement Index, evaluating 13 key factors (cost of living, healthcare, etc.) with substantial reporting by country, and by budget. liveandinvestoverseas.com
  
  

Ready to make a move?

A Certified International Property Specialist (CIPS) is part of a worldwide referral network comprised of elite property professionals from 48 countries. Ask a CIPS designee to put you in touch with a reliable global professional who is local to your desired destination. Having a real estate professional with overseas experience can make a world of difference when buying property in another country.

Source: National Association of Realtors

Contact Eric Slifkin for more info about global real estate or to buy a home on the Treasure Coast.

Eric Slifkin, a Broker Associate, is the founder of the Slifkin Team at Keller Williams Realty. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including greater Stuart, Port Saint Lucie, and the Palm Beaches.

Questions to Consider When Downsizing Your Home

There are many advantages when it comes to downsizing your home. Downsizing can be a great way to right-size your budget.  There can be less to pay for, less to take care of and less to worry about. But there is a lot to consider before listing your home for sale.

Questions to ask yourself before putting your home on the market:

• Finances- Does it make sense financially to relocate? If you've under-saved for retirement, downsizing may free up cash from your current house by moving to a property with a smaller mortgage and that is less expensive to maintain. But prices and maintenance costs in coastal or resort areas may exceed the proceeds from the sale of your home.
  
  
• Friends and Family- Will your downsized home be large enough to accommodate visiting friends and family? As an empty nester, you may think that you no longer need as much room. But what if the kids come home again...with their own partner or children in tow?
  
  
• Location- Do you plan to travel or want to be easily accessible to friends and family? If so you'll likely want to live near an airport. You should also choose a community with resources that are important to you such as houses of worship, community centers, outdoor recreation, educational opportunities, or public transportation.
  
  
• Property Features - What are your wants and needs? Beyond your basic needs, it is important to determine what property features are most important to you. For example, if you are considering a townhome or other multi-level residence it should, at a minimum, have a bathroom on the same floor as the master (or if it can be outfitted with assistive devices should the need arise).
  
  
• Housing Options- Thinking of a gated, active adult, or resort-style community? Be sure to evaluate several neighborhoods or communities before asking your agent to zero in on listings. Once you have identified your favorites, research the services and activities offered as well as rules and regulations that may restrict activities you enjoy.
  
  
• Your Stuff- Are you prepared to let go of personal items if you move to a smaller home? Consider whether you can truly downsize your life and still feel at home.

Looking to downsize and redirect that extra cash? Click here for an instant home value estimate.

Contact Eric Slifkin to buy or sell a home on the Treasure Coast.

Eric Slifkin, a Broker Associate, is the founder of the Slifkin Team at Keller Williams Realty. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including greater Stuart, Port Saint Lucie, and the Palm Beaches.

Heritage Enclave, located next to the Heritage Ridge Golf Club in Hobe Sound, Florida, is a collection of 50 boutique townhomes, many with a preserve or lakefront view. These well-appointed residences feature three or four bedrooms with two or three baths. Amenities include a community pool with clubhouse and paid access to the Heritage Ridge public golf course. Learn More

Heritage Enclave is just 30 minutes to West Palm Beach via I-95 and less than 15 minutes to local beaches, shopping, dining, and Historic Downtown Stuart. Learn More

A Smaller Home Means Smaller Bills

Downsizing is hardly a dirty word these days, especially as Baby Boomers begin to question the size of their home, and more Millennials are finally making their way into the world. Homeownership is a good investment of any size, and if you've ever wanted to free up some cash for the rest of life's joys (travel? new hobbies? investing?), downsizing can be a great way to rightsize your budget. Here are seven ways downsizing can foster a bit more financial freedom:

1. Utility costs. If your gas and electric bills have been climbing year over year, consider the pleasant surprise of heating and cooling 1,200 sq. ft. instead of 3,500. Controlling the climate in empty spare bedrooms is pointless when you don't need the room. What's more, you can count on fewer houseguests with less space, and this, in turn, can decrease utility costs.

2. Maintenance costs. How big is that lawn? How many rooms need refreshing with a coat of paint? How many windows need washing, and what about the oversize driveway that must be repaired and sealed? 

3. Insurance. Your insurance bill relies in large part on your appraisal, and if your new home is smaller, your insurance bill should shrink as well. (This can vary based on location and levels of coverage, of course, but you would be hard-pressed to insure less for more!)

4. Property taxes. Much like insurance, tax rates are based mainly on a percentage of assessed value. So here are a few more dollars back into your wallet.

5. Repairs. How many toilets do you need to have fixed? Appliances? Light fixtures to keep lit? The smaller home has fewer leaking faucets and a smaller roof to replace. Your overall spending on maintenance goes down when you have fewer houses to maintain.

6. Furniture. Downsizing is a perfect opportunity to sell excess furniture and keep only those pieces well-loved or essential for your new smaller space.

7. Hosting and entertaining. When you've got that sprawling home, your place is ground zero for out-of-town guests, relatives, and holiday parties. As your space shrinks, so do your annual hosting and entertaining budget. Besides, if you want to throw a shindig, you can take some of that downsizing cash and pick a perfect venue.  

Post by Eric Slifkin, a REALTOR® serving South Florida's Treasure Coast. You can reach me at 772-678-1600 or As your resource for information on new or resale homes throughout the Treasure Coast, please be sure to contact me about any home you may find on the Web, yard, sign, or ad, and I will research the property, arrange showings and handle all the details.

Maximizing the Web in Your Real Estate Search

Before selecting a real estate agent or buying a home, most consumers head to the Internet first. Over 70% of those buyers found their home using a mobile device.

Researching homes and real estate agents online can get you ahead of the game when it comes to narrowing down your options. But with so many sites and sources to choose from, an online search can be exhausting…and sometimes futile. Here’s a guide to help you navigate the web when searching for a home or real estate agent.

The online open house never closes: All major real estate brokers have websites that showcase their listings. You can search by town, price range, number of bedrooms, etc. As important, a broker or agent IDX enabled site (Internet Data Exchange) gives you granular access to every active listing via a direct feed from the local MLS, which is continuously updated.

You can also leverage the search tools available through major home listing portals such as Zillow and Realtor.com. These digital open houses give buyers a good sense of what the house looks like…and they’re open 24/7.

Searching for a real estate agent: While a referral from a trusted friend or colleague is a great way to find an agent to work with, be sure to dig deeper. Search for the suggested agents on Google and social media sites like Facebook and Twitter to find out more about them and their online presence. This will help you get a feel for who they are as a person and how they conduct business, including how they use social media and other online venues to search or market homes.

Need to sell first? A great way to find an agent to list your home is to look at properties on the market in your area. Find homes similar to the one you are trying to sell and search for those listing agents online—they’ll usually have a personal website. Once you’ve narrowed down potential agents, be sure to meet with them in person and ask specific questions related to your needs.

Do your homework: To ensure you won't be disappointed or become emotionally invested in a new home for sale that is out of your price range, get pre-approved for a mortgage loan. The last thing you want to do is fall in love with a property and realize that you can't afford it. Online mortgage calculators can help you get a sense of what you can realistically afford.

Sources: TreasureCoastHomeSales.com, AOL Real Estate

Eric Slifkin, a Broker Associate, is the founder of the Slifkin Team at Keller Williams Realty. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including  Stuart, Port Saint Lucie, and the Palm Beaches.