This blog is dedicated to people who are interested in relocating to Florida. Whether you live here now and are moving here this blog is for you. Read around for more information.
Destin is a great place. Beautiful beaches and the water sports are incredible.Here’s a video of a Dolphin tour.
Destin, FL Boat Trip. Leaving the dock.
Dolphin tour, boat trip on a giant speed boat in Destin, Florida. We started by going through the harbor, then went out to sea to see dolphins, followed by a beach run cruise, and came to to see more dolphins before we docked back up 2 hours later. A…
Fishing Destin Florida on Charter Boat Miss Hazel
Maddie catches Trophy King Mackerel and Scarletts fish wraps her up and gets off.Fishing Destin Florida on Charter Boat Miss Hazel
We’re all aware of the fact that real estate values are falling, yet buying a vacation home now maybe the best investment one can make. Just be sure that when you buy a vacation home, you buy it in the Florida Keys. This is a year round vacation investment that pays you every week!
The conventional wisdom is that, now in today’s unstable economic times, is the worst of all times to buy vacation real estate. And this may be true, for real estate investments in most areas… Yet, if one considers that a vacation home, in the right area, the Florida Keys, is an investment that can almost always shows a positive cash flow. The major side benefits of owning a vacation condo, or even a home, in the Florida Keys outweighs most potential downside risks. That side benefit is that when the owner wishes to use it, he can. It’s not like owning a parking garage or warehouse.
Investing in Real Estate in the Florida Keys, the Whys
Obviously for someone that hates the sun, the tropics or clear blue waters, the Florida Keys is not a place to invest. But for those that love water sports, world class fishing and year round sun, there’s almost no other place that compares in both physical beauty and a potential continuing source of income. Year round, The Keys is a vacation destination. Those from the northern states during the winter, flock to the southeast and especially the Keys, as a welcome escape from the cold.
Deep sea fishing, sailing, diving, spear fishing, underwater exploration, flats fishing, sailing, water skiing are just a few of the many sports and past times people enjoy during the rest of the year. There’s almost no limit to the water sports that are available. While it’s possible to do many of these sports year round, the spring, summer and fall have the warmest and calmest coastal waters. Vacationers, a rental property owner’s target market will pay high weekly rental rates to stay at a condo or home in the Keys to enjoy and experience these sports.
If a vacationer has a yen for history and interesting surroundings, the Keys also provides interesting tours and sights to see in Key West, as well as other places like Big Pine Key, where a state sanctuary exists to preserve the Keys Deer species. With its history and its beauty, the Florida Keys is an incredibly interesting place to invest. With tourists year round, owning a vacation home in the Keys makes a lot of sense.
High Returns Result from Short Term Vacation Rentals, but There’s a Catch
Some communities, townships, homeowner and condo associations in the Florida Keys have placed restrictions on short term rentals. If an investor decides to purchase a home or condo, it is imperative that one checks to see if there are any rental limitations concerning weekly rentals. The ‘key’ to rental profits in the Keys is the owner’s ability to rent the property year round on a short term, weekly basis. If that’s not the case, look elsewhere where no such restrictions exist.
Depending upon the type, size and location of the unit, weekly rentals and purchase prices can vary tremendously. For instance, there are waterfront mobile home villages that offer rentals as low as $300-$400 per week. In contrast, there are homes that may be rented for well over $5000 per week or more. Obviously, the cost of purchasing a mobile home, condo or luxury home will vary tremendously and one may be an order of magnitude higher in price, than the other.
During the summer, with diving and water sports the big attraction, weekly rentals are easy to line up using only the internet and perhaps some of the vacation rental internet sites. Many of the locals in and around South Florida, as well as other parts of the country will come to the Keys, sometimes several times per summer. Even in the fall, while a bit slower, is a time that people might come down for a week or so for a quick vacation. Of course, the onrush of vacationers, typically staying a month or longer occurs during the winter months. Obviously, this season offers the Keys property home owner the highest rental rates. Although even this has been changing within the last 10-15 years.
Vacation Rental ROI & Rate of Return
The first year or two of actually owning a vacation getaway in the Keys typically shows a near break even cash flow. If one aggressively pursues the marketing on the internet travel sites, cash flows may become positive even during the first year of ownership. A positive cash flow in terms of mortgage versus rentals will usually show itself after the third or fourth year. There are many factors determining ROI, most notably are:
. The condition of the rental property
. Number of return renters
. Water view and facilities
. Location and ease of travel from the airport
Locate the Best Keys Areas and Properties
If all of the above are positive, the owner can command the highest rents and the number of returning vacationers. These will be the easiest to rent and command the highest weekly rents. There are also excellent internet sites to research potential rental properties for purchase such as: VRBO.com, vacationrentals.com, homeaway.com or cyberrentals.com.
An excellent place to start to look for properties in the Florida Keys is by contacting some of the large realtors in Key Largo, Islamorada, Marathon or Key West. Many of the larger real estate firms also provide listings of properties for rent or sale that may be among those that they manage directly. With economic conditions being what they are currently, a real estate investment in the Keys is compelling. If an investor is looking for an investment that can not only be enjoyed, but can ultimately provide an income in the very short run, the Keys is a great place to start.
The Conch Republic, so named by its inhabitants during a brief scuffle with the federal government in the 80s, promises year round balmy weather, surrounded by blue green waters. With an incredible range of accommodations, from tenting (I’m not kidding) to decadent opulence, this is the place to visit, particularly in these times of economic turmoil. The Keys consists of literally hundreds of islands, but can be roughly segmented into three vacation areas, each offering a different vacation experience. The Upper Keys, The Middle Keys and The Lower Keys (encompassing Key West, the county seat) are the typical areas vacationers describe. Each has a unique charm, but the real caché associated with the Keys, is a funky island atmosphere typically found in the West Indies. The Florida Keys, however is so much more than that.
Vacation Accommodations of the Florida Keys
With all types of accommodations available from camping at Long Key State Park, condo/home rentals and luxurious estate rentals to some of the best Florida water front hotels in the state, virtually anyone with any budget can find terrific place to stay within the Keys. Interestingly, the Keys has a dearth of beaches, therefore for the most part, the most interesting places are located on the “Bay side” where you can watch sailboats and cruisers make their way to the numerous restaurants, bars and nightclubs which offers interesting views after the sun goes down.
One point that needs to be made: if one is renting a home, the likelihood of it being equipped with a pool is fairly low. Therefore, if a pool is a “must”, most hotels and vacation condominium complexes typically will be the best bet. After engaging in water sports above or below the surface, nothing is more refreshing than a dip in the pool, followed by a cool drink on the balcony as the sun starts to dip below the horizon.
Keys Water Sports from the Tropical to the Sublime
There is an awesome number of water sports in which one can participate in the Florida Keys, from snorkeling ( a few miles off shore on the reef) to water skiing, sailing, kayaking, Jet Skiing, parasailing and just exploring the area by boat at any one of the boat rental locations. Whatever one has a taste for, water-wise, you can certainly find a way to satisfy it. Most confine their boating to the bay side, however if you wish to SCUBA dive, the reefs off shore, as mentioned previously, are only a few minutes by boat and the waters, for the most, are relatively calm. There are numerous qualified and licensed dive operators with any number of choice dive locations, featuring explorations on wrecks to reefs.
Fishing is incredible in the Keys with an enormous variety of fish and fishing techniques challenging the skill of almost any fisherman. Depending upon one’s sense of adventure, there’s all types of deep sea fishing off both southern and the western shores of the Keys as well as fishing trips into the Gulf of Mexico towards the Dry Tortugas. There’s fishing off the reef (make sure to obtain a fishing license) and flats fishing. Also for the adventurous there’s excellent fishing within the Ten Thousand Island chain between the Keys and the southern tip of the mainland. If a fisherman wishes to try his luck in this venue, make sure to hire a guide, because every tropical mangrove looks like every other mangrove and it’s very easy to get lost.
Eating and Sightseeing: Great Restaurants and Natural Wonders
The keys, with its three areas to explore, there’s more than enough sights to see and tours to take. For the history buff, Key West offers both history and interesting architecture. The upper and middle Keys: Key Largo, Islamorada and Marathon are also great places to visit. Each has its own charm with numerous things to do. Don’t forget Big Pine Key, home of the National Key Deer refuge. Here’s an opportunity to observe the very unique and pint sized, Key Deer.
From conch fritters to five star dining and all manner of seafood, one will be able to enjoy some of the finest and freshest seafood in the country. There are probably hundreds of seafood restaurants servings everything from mako shark to octopus, as well as the standard fare one can find on the mainland. Certainly after a wonderful meal, real key lime pie is an almost obligatory desert.
The Florida Keys is the economical, relaxing destination that has things to do year round that you probably will not find in Milwaukee or Dayton. There’s a wide range of sights, sounds, people to see and things to do in a tropical, yet very American way. With the natural beauty of the waters and the tropical mindset that pervades the people who live there, the Keys is a great place to relax in the sun and forget all about the economic chaos.
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