How Many Properties Do You Need To Own To Retire in Florida: An Investors Guide
Do you have a goal to retire in Florida? Not too long ago I made the decision to retire in Florida (It was after moving back to the Chicago area for about 6 months) so I sat down and mapped out a plan that was designed to help me achieve this goal. I want to share this goal with you here. (Share this plan with your friends by utilizing the social media buttons above)
I first decided I wanted to get into real estate investment back in 1985 (only 3 years out of high school) after reading Financial Genius by Mark O. Haroldsen. From thereon, I was determined to become more erudite in the field of real estate. Since then, I have more than three decades experience in real estate analysis, financial modeling, mortgage banking, due diligence, real estate fund management, construction management and real estate brokerage. You may download my online resume here at HireMikeLinton.com.
After reviewing my resume, you can concur that I am qualified to assist you in your retirement aspirations here in Florida.
So back to the original question; How Many Properties Do You Need To Own To Retire in Florida?
The answer is …. it depends.
It really depends on your lifestyle. Do you want to retire with just your basic needs being met or do you wish to travel, play and enjoy the finer things in your golden years. But be careful not to become house poor.
My wife Peggy and I always tell our customers that we do not want to run into our customers at the grocery store buying ramen noodles while we are buying steak. Be careful not to over-extend yourself with debt. I got into trouble back in 2006. I should have exuded the wisdom of Proverbs 22:7 which simply states the borrower is slave to the lender.
Deciding on the number of properties to own also depends on your investing strategy. Today my strategy is much different that 2006. Back then it was about flipping properties. Investors were more like day traders in the stock market. I saw investors flipping condos in Daytona Beach and walking away with more than $80,000 after owning the property for about 10 minutes. This strategy worked well until the credit crunch and the financial meltdown of 2008. My strategy today is buy and hold, paying off properties and owning them free and clear. My sub-strategy is to think like a banker. My goal is to have 2 Million in assets working for me.
Give me a call and we will figure out a plan that works for you.
What Can Owning Rental Properties Provide You With?
Owning rental properties can provide you with:
- Cash Flow
- Fantastic Returns
- Tax Advantages
Increasing the Earning Power of Real Estate Investments with a 1031 Exchange
I wrote an article previously about increasing the earning power of real estate investments with a 1031 exchange, but let me summarize here.
What is a 1031 Exchange?
When completing a 1031 exchange, an investor can increase their portfolio of wealth.
The real estate investor can change the type of investment property. Maybe you want to change your investment from single family to commercial properties.
About Linton Global Real Estate Investing
Investing in high quality real estate is easy with the Linton Global Real Estate Team. We utilize the Mega Team expansion system that has allowed us to build a central processing hub located in our home base in Florida, while utilizing partner networks under the team brand, Linton Global. Currently we service the cities and suburbs of Orlando Florida, Daytona Beach Florida, and Miami Florida.
While the concept Mega Agent Expansion may just be entering the minds of many agents, Keller Williams is home to a growing group of mega agents who are already experiencing enormous success through expanding their businesses into multiple markets. –
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Is Retiring in Florida all it is Cracked Up to Be?
Now that baby boomers are reaching retirement age, Florida is being deluged by a new wave of retired residents. There are many benefits to living in Florida.
|If you decide to move here for retirement some of the key factors will be what part of the state will you live in?|
It is also a lot of fun to be with your peers and to be able to enjoy a lively retirement. If you are concerned about moving away from your family, rest assured that they will be eager to come and visit in the winter.
How Do “Hard Lenders” Make Money?
Have a “Hard Lender” Question? Give us a call at (312)612-1031
Hard money lenders are specific asset-based loans based upon the value of a property today such as an 80 unit multifamily apartment or some other type of commercial real estate, and are expensive because of the inherent high risk of the loan.
There is very little income documentation required on a hard money loan although, the more information that is available, the better chances you have of being approved.These hard lenders step in during a time of need and give you a quick answer and get you to the closing table fast.
The shorter the duration of your hard money loan, the better for you and the lender.
Or some other examples might include: The property may not be completely constructed, the retail or office space not leased or you may not have the necessary permits in place and your existing note is coming due.
Investor Alert: S&P 500 loses $2 trillion in market capitalization
In late August, the S&P 500 lost $2 trillion in market capitalization. When market volatility rises, savvy investors utilize diversification to insulate their portfolios from uncertainty. Bonds, precious metals, cash and other low-yielding vehicles are among the most popular diversification options, while real estate offers much higher returns and a broader range of advantages over other asset classes. In addition to regular dividends or rent, real estate is an inflation hedge, tax shelter, a tangible asset, and has a negative correlation with the stock market.
Tangible real estate is a diversification that should be a part of every investor’s portfolio. Although single-family residences (SFRs) were once considered a specialty asset reserved for wealthy insiders, Linton Global’s business model now offers all investors a reasonable entry point into real estate investing. SFRs have other advantages for investors.
Real estate is among the best-sheltered tax havens available, including the popular 1031 exchange. Section 1031 of the IRS code enables investors to allocate proceeds from a sale into a like-kind investment without paying capital gains taxes. Building a portfolio while delaying tax commitments is an effective path to generate a large portfolio.
If you’re interested in considering investing in rental properties to diversify your investment portfolio, please call Linton Global at (312)612-1031 to learn how our turn key process can make this possible. Investor Alert: S&P 500 loses $2 trillion in market capitalization
Most investors attempt to diversify into real estate by purchasing REIT stocks. The ease of acquisition, liquidity and low entry fee are among the reasons to own publicly traded REITs. Furthermore, REITs enjoy tax advantages only available through real estate investments and they pay a quarterly dividend. They also lull buyers into believing a real estate-backed security is insulated from market fluctuations. Over the past several days, the market has disproved this thought. There is very little diversification value in REIT stocks during market corrections.
Tangible real estate is a diversification play that should be a part of every investor’s portfolio. Although single-family residences (SFRs) were once considered a specialty asset reserved for insiders, they offer all investors a reasonable entry point into real estate. The formerly localized industry has given way to a national platform for investing. Big data, affordable professional management and institutional research help create an efficient market that supports nationwide investment. Additionally, the deliberate nature of real estate transactions removes panic selling from the asset class, relying more on supply and demand drivers.
SFRs have other advantages for investors. Real estate is among the best-sheltered tax havens available, including the popular 1031 exchange. Section 1031 of the IRS code enables investors to allocate proceeds from a sale into a like-kind investment without paying capital gains taxes. Building a portfolio while delaying tax commitments is an effective path to generate a large portfolio.
The long-term supply and demand fundamentals also support the future performance of the asset class. Homeownership has fallen to 63.4 percent and could decline to 61 percent by 2030, generating 9 million new households. Builders meanwhile, are focusing on high-end apartments in a few dozen submarkets rather than entry-level homes. As a result, the supply-demand imbalance is pushing rents and occupancy higher. The outlook for single-family rentals is bright and owning real estate is quickly becoming as effortless as owning stock.