Fort Lauderdale is an excellent market for home flipping. This involves buying distressed properties at a reduced price and renovating them. You have two options depending on your investment objectives: you can either sell the house and make a profit, or keep it and let it go. Homes that have been well restored and include desirable amenities will attract tenants who have a high salary. Due to the availability of foreclosures in Fort Lauderdale, there is always a good supply of homes for flipping. Also, owners are tired of making repairs to damaged roofs or flood damage.
Different deductions are available to owners of rental properties. Mortgage interest, maintenance costs and loss from theft, as well as certain travel expenses, are some of the possible deductions. A tax attorney should be consulted before you purchase an investment property. They will help you determine which deductions are applicable to your situation. An attorney can provide a complete list of deductions that will help you decide if your investment strategy will yield healthy financial returns.
Fort Lauderdale, a large city, has 180,000 residents. There are many desirable neighborhoods along the waterfront and unique canal system. Before making a purchase, investors should investigate rental trends and desirable areas.
For a variety of reasons, investors need to work with a skilled and knowledgeable real estate agent. A Fort Lauderdale agent who has years of experience will be able to provide valuable insight into the most desirable neighborhoods and properties. He can also tell you what it takes for a landlord to manage investment property. He can help you identify the best properties for your investment and write a compelling offer.
This post was written by Josh Dotoli! Josh is the owner of Josh Dotoli Group which is a laser-focused real estate team at Compass comprised of industry experts selling Fort Lauderdale’s best neighborhoods. This dynamic group is one of the top-selling real estate teams in South Florida with over $94 million in sales in the past 12 months alone. Looking for Luxury Homes For Sale In Fort Lauderdale? The Dotoli group has got you covered.