Greetings Investors!
Today we are going to a take a different look at one of the reasons that South Florida is an exceptional investment opportunity for income real estate. Ironically, it is actually partly because of one of the most common arguments against this area as a good investment…Hurricanes!
The outside to South Florida may only know about the negative side of hurricanes…how they are destructive and require extensive preparation. The bottom line for cash flow appears negative at first because the building code is more stringent, which makes inspections and code violations more problematic and in general the requirements for protecting a property make it more expensive. The counterpoints to this is obviously that any region will have it’s share of weather related issues that must be accounted for, but it seems that hurricanes get more attention because they tend to be big dramatic events that keep people in suspense for days while we wait for “the turn”.
But if you have ever lived in South Florida and experienced being in the “cone of concern” of an approaching storm you will no doubt have experienced a completely different side to the story. You will have experienced a true thriving community that supports each other and has a genuine concern for one another. When Hurricane Dorian parked off shore recently we all kicked into gear and cleared the shelves of the supermarkets.
But in that experience I heard one thing over and over again from co-workers, friends and everyone I met in the store and at the cafecito counter…:”Stay safe”. I also saw people helping old ladies carry cases of water, I saw neighbors helping put up shutters, even businessmen directing traffic at gas stations. The calmness and camaraderie was palpable and it made me proud to be a member of this community. We all suffered after Irene, but as always we rebuilt and have grown stronger.
So an investment in South Florida real estate is not only an investment in some of the best weather in the world it is also an investment in some of the best people who come together when the worst weather threatens.
For questions on how Real Property Management Miami can help you maximize the return on your South Florida investment real estate please call 305-517-3900.