Fort Lauderdale: A Historic Beach City Primed For Investors

The dream of living at the beach in Florida, with crystal clear waters and unlimited recreation is shared by many. But the thought of Miami and Orlando prices can put an abrupt end to those end to those dreams. That’s why Fort Lauderdale is a hidden gem for buyers looking for updated homes on the Florida coast with reasonable prices, and the real estate investors that cater to them.

Ft. Lauderdale is home to a bustling, diverse food and entertainment scene. The city has high-paying jobs, and easy access to party cities like Miami when you want a close-by getaway. There is also a cruise port where you can board a ship for a weekend vacation to the Caribbean with no hassle. But the amenities aren’t the only reasons people are flocking to this Florida city – price is a major factor.

As the Miami market continues to skyrocket in price, businesses and individuals alike are fleeing to Ft. Lauderdale. This has created opportunities across both the commercial and residential markets for real estate developers and investors. The increase in demand for updated real estate has been met with both new construction and renovation projects on both a large and small scale. Fort Lauderdale has simply enjoyed a steady increase in buyer and renter interest due to Miami’s overheated market, with no shortage of inventory.

This new demand has supported the opening of a plethora of restaurants and entertainment venues that accommodate the growing luxury and amenity-heavy areas of the city, yet prices have remained consistent without following the direction of Miami-based food and entertainment. This gives buyers and renters the benefits of a big city without the hefty price tags.

Now is the interesting part and why we feel Ft. Lauderdale is such a great opportunity for real estate investors. Not only are businesses moving into this area, but many of the original homes that have endured the hot summers and countless hurricanes are still standing. Just because they are standing does not mean they are in good condition.

Many residents are looking to offload properties that have been damaged by Ft. Lauderdale’s climate either because they are tired of performing the same repairs over and over or they simply can’t afford the added costs necessary to keep their property in working order. Flooding, mold, and roof damage are just a few of the common issues that property owners see in the region, making upkeep and repairs less desireable for both lower-income and elderly owners. In addition to owners voluntarily offloading distressed properties, bank foreclosures have been consistently rising in the Ft. Lauderdale area over the past several years. This provides for plenty of inventory for fix and flippers, and makes Ft. Lauderdale is one of the hottest new markets for real estate investors. There is no shortage of opportunities to buy properties for cheap, renovate, and sell or rent to the mid to high-end market. This is what makes Ft. Lauderdale perfect for real estate investing.

Now that we’ve gone through what makes Ft. Lauderdale is an excellent choice for investors and developers, let’s jump into where to begin your search for investment properties.

Top Neighborhoods for Investing in Fort Lauderdale, Fla.

● Colee Hammock: With homes dating back more than 70 years along waterways, and the surrounding “Hammock” area of evergreen trees, this is an exciting part of town. Colee Hammock, named after the Colee family who founded it in the 1830s and the Hammock section of trees not generally found in the South, is known for its buildings being built on rises on account of the marshes and waterways.

This town has more to offer than just homes on risen grounds, though. Local attractions in this neighborhood include a variety of restaurants, museums, and art galleries. Buyers looking in this neighborhood will also enjoy the luxury of living only a mile and a half from the beach.

Being one of the oldest communities in Ft. Lauderdale helps to make finding properties that need rehabilitation or prime for a teardown and rebuild project easy. The inventory of distressed and outdated properties paired with the demand for updated housing with views or/access to the water makes Colee Hammock a great spot for real estate investors.

● Tarpon River: Tarpon River is another town built directly on the water. It is built between two rivers making this town ideal for water sports and recreations and is also home to the famous Tarpon River Brewing. There are also plenty of restaurants and attractions to enjoy, including the Replay Amusement Museum. This makes the neighborhood an ideal spot for ex-urbanite who wants to entertain and have an active social life. Renovations are the big sellers here, so comps will be easy to find.

● Victoria Park: Victoria Park is a neighborhood with a lot of potential for higher-end real estate investors. This part of town was established in the early 1900s and is home of a very forward-thinking community. With a diverse demographic makeup and a high resale value, Victoria Park is stylish and sophisticated yet vibrant and colorful. This trend is reflected in both the local culture and design elements of the real estate.

Sitting at just a mile away from Fort Lauderdale Beach, this community features high-end shopping and dining experiences. Also, being in proximity of five parks, the Broward Center of Historical arts, War Memorial Auditorium, and the Isles of Las Olas, there are plenty of authentic Floridian experiences for potential homeowners.

Properties in need of rehabbing and rebuilding are not in short supply. Because of the amenities and welcoming community, it is a perfect spot for families and couples looking to enjoy the benefits of a diverse community, but without the hassles and craziness of a major metropolis.

Fort Lauderdale is a huge opportunity zone for real estate investors. There are plenty of older or weather-damaged homes for investors, and a growing population of highly skilled and highly paid individuals. If you’re looking to expand your portfolio, this is one beach city that you don’t want to pass by.