It’s no secret that in order to reap the most from your investment portfolio, it’s got to be diversified. Many financial experts recommend a healthy mix of mutual funds, bonds, and real estate. Here’s why Key West is the best location to invest in real estate over any other place in the United States:
●Low property taxes. Compared to real estate taxes in the northeast portion of the country and to the property taxes on the west coast, the real estate taxes in Key West are very inexpensive. That’s good for the wallet in more ways than one.
●Plenty of visitors all year round. There are dozens and dozens of great destinations and attractions here in Key West which means if you want to rent weekly to visitors, you’ll always have an occupied property generating a positive cash flow.
●High rates of appreciation. Land is at a premium here in the Keys and with new building codes in effect, new construction isn’t plentiful which means existing properties enjoy a huge rate of appreciation each and every year. Because of this fact, the market isn’t susceptible to the fluctuations which plague the rest of the country.
●Solid collateral for other investment opportunities. When you want to purchase another real estate investment or want to participate in a business venture, you’ll have solid collateral to leverage when going for financing.
●A place to vacation. Not only will you have an income generator, you’ll also have a dedicated place to vacation whenever you’d like to get away. No having to make reservations, just pack and go.