Why Invest in Florida?
There are many amazing investment and lifestyle opportunities in the State of Florida, the 4th most populous US state. The people are very proud of their state and it's easy to see why. No other location in the western hemisphere can match Florida’s unique combination of a strategic geographic position, strong knowledge base, state-of-the-art infrastructure, entrepreneurial spirit, and concentration of corporate and financial resources. Total holdings by non-US companies were valued in 2007 at $34.3bn.
However, like everywhere else, the property market in Florida is local and should be looked at on a micro level rather than solely taking investment decisions based on macro, state wide information.
It is our view that investors should not be satisfied with an agent who just sources property. A good agent is an essential service for a non professional as they help him/her (a) find the smartest long term investments available, (b) ensure the pitfalls of buying in a distressed market are avoided and (c) assist with a smooth transfer of ownership.
How do Torcana know what is a good investment?
Picture the town / city / village where you currently live and imagine there are many distressed sellers. Would your first reaction be to hunt down the very cheapest property available just because it is cheap and tenanted? I’d imagine the answer for most of you is no, and that many would prefer to pay a little extra to get a discounted property in a nicer part of town, where the tenants are solid and a resale market can be clearly visualized. This is how we feel about Florida.
A new build 900 sq ft 1 bedroom sea view condo in Miami cannot be measured against a 15 year old timber frame 550 sq ft 1 bedroom/studio in Fort Myers. It seems obvious when phrased like that, but it isn’t stopping both amateur and professional investors of thinking otherwise. Whether property prices are increasing, stagnant or falling – you still tend to get what you pay for.
Please click here if you´d like to view a list of our most exciting USA investment options.