West Palm Beach Real Estate

Today, though, you can cashflow many properties at the reduced prices present in today’s market. [A quick aside - many West Palm Beach area real estate investors say they like to buy property at a price that supports the 1% rule, meaning the amount the property can rent for accounts for at least 1% of the purchase price of the house, e.g. a house that rents for $800 can be purchased for $80,000 or less. There are plenty of South Florida and West Palm Beach real estate investment property deals out there like this right now.] On a similar note, another effect of the drop in housing prices is reduced costs for property taxes and insurance. Both taxes and insurance costs are based upon the value of a property. So, it stands to reason that since prices have fallen, the costs will be less. In the case of property taxes, the assessed value on West Palm Beach investment property dropped last year and will do so again this year. In addition, local governments have been forced to lower their tax bills in line with tax reform on a state level. The bottom line is that real estate investors will pay less property tax today than they would have on the same property a couple years ago. Likewise, a reduction in prices means that a real estate investor does not need to insure his property for as high a value. Thus, insurance costs are coming down on West Palm Beach real estate investment properties, as well as in other parts of South Florida. Taking all of these factors together, now is an ideal time to purchase West Palm Beach investment property. While prices may not have bottomed out just yet (I expect that will happen later this year), by buying at prices that cashflow, investors will be in a good position when the market rebounds

For more information about the properties and support log on to west-palm-beach-real-estate.info

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