Investing in Daytona Beach Real Estate
Daytona Beach is commonly known as the spot for spring breakers. It is also a good place for real estate investors as well. Located on the eastern coast of Florida, Daytona Beach has recently become a profitable place for real estate investors in addition to a fun place for spring breakers. The average home price in Daytona Beach real estate is approximately $212,000. Daytona Beach real estate has grown over 25% since last year. This growth is expected to continue at least for the next year or so.
One of the things that sets Daytona Beach real estate apart from cities that have been popular for real estate investing in the past is the fact that it does not have the statistics for hurricane hits as other cities like Miami and Key West. This is a good benefit for Daytona Beach real estate investors that are considering investing in rental property. If a rental property happens o to get hit by a hurricane, the cost of repairing the property could greatly offset any profits that would have been made during that time. For this reason, Daytona Beach real estate is good for investors.
Daytona Beach real estate is prime for investors that would like to invest in beachfront property. There is an opportunity to make as sizeable amount of money through this kind of investment. All year long people from all over the country visit Daytona Beach to visit family or to take a vacation. Daytona Beach beachfront property rents anywhere from $500 to $5000 per week. If your Daytona Beach real estate was rented out everyday of the week for a full year this would yield between $26,000 and $260,000 per year depending on the rent that is charged. Investors that have a fair amount of money to spend should consider beachfront property as a Daytona Beach real estate investment.
The population of Daytona Beach has been steadily increasing over the fast few years. Because of this there is an increased demand for Daytona Beach real estate. The turnaround time on Daytona Beach real estate, at thirty to sixty days, is a little longer than other Florida cities. In order for investors in to avoid being affected by this lag time in turnaround, it is important that properties are priced comparable to that of properties that have recently sold in the area. Investors that have Daytona Beach real estate in the right place at the right time stand to gain a sizeable profit.
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