One massive secret in the world of vacation rental real estate investment is the fact that Florida is a haven for real estate investors world wide. Regardless of the season, they are all hitting the Sunshine State super hard and picking up vacation properties as fast as you can say FLORIDA.
For a lot of Canadians out there, the very idea of investing in a vacation rental property in a warmer climate sounds really attractive. The mere idea of getting significant tax deductions and having the potential to earn passive income from rental property to help pay off the mortgage sounds even more promising.
However, you can’t just purchase a vacation rental property and expect that it will produce great returns – there are a large number of factors that you have to keep in mind, with the most important being a winning location. Hence, there is absolutely no doubt that the place you pick to purchase your next vacation rental investment property is going to have a massive impact on how well it does.
Real estate investors all over the world find the Florida vacation rental market to be extremely good and a great place to dabble in because of the State’s good tourism industry, bright warm weather and wonderful holiday vibes. Over the years, vacation homes have proven to be a solid investment vehicle, with vacation homes rarely ever losing their worth. If purchased right they can provide a continuous source of income to the real estate investor when rented on a daily, monthly or a short term rental contract.
For a brief breakdown for some of the reasons why Canadians should invest in vacation rentals in South Florida, read on…
While the northern part of the USA and Canada will spend their winter having to deal with an endless Polar Vortex. Which includes below freezing temperatures, snow and icy conditions. The majority of the people in Florida will have the luxury of being able to hang out in super comfy temperature that ranges from the 60’s (which is it’s lowest!) to the high 70’s. That is honestly how low it usually gets during the winter in South Florida. It is one of the most attractive places to take a nice, warm, sunny vacation all year round!
Diversity and Endless Experiences
The main idea is that Florida is ginormous. It is so large that a four-hour drive will get you from the dazzling shores of Miami Beach to the wonderful, magical world of Walt Disney in Orlando – and that is only tapping into a small piece of this massive State. Florida’s rich and diverse culture really presents vacationers a once in a lifetime opportunity to simply go on a drive for a few hours while feeling like you are in a completely different environment when you step out of the car again.
Regardless of whether it is taking a dive in the Florida Keys or stepping across the warm, silky sand at South Beach, or watching the breathtaking sunset at Hollywood Beach, people’s love for the aqua life will always be satisfied in South Florida. In addition, there are many gorgeous State reserves, lush green forests and parks such as Sarasota’s Myakka River Park or Kissimmee Priarie Preserve State Park. All offer so many wonderful opportunities for vacationers to be a part of nature’s beauty all year around.
Hence, it is by no surprise that the demand for vacation rentals in South Florida is so high. With so many things attracting tourists to come stay and play, it is just one of many good reasons why Canadians and real estate investors should try and get their foot into the South Florida vacation rental game.
In the next article I will discuss more about the numbers and how vacation rentals make sense from an ROI perspective. Stay tuned!
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Writer: Samuel Awosolu
Samuel Awosolu is a South Florida Realtor and investor. He assists foreign nationals and investors worldwide with buying and selling residential and commercial investment property. You can learn more about Sam by visiting his website at Sam The Realtor ( www.samtherealtor.net ) and his YouTube channel.
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