So you wanna get started investing in Florida and you’re checking things out, eh?
Good for you. Always do your homework and you won’t get schooled.
We have compiled a list of invaluable instruments and exceptional real estate investing materials available in Florida that we ourselves have employed on occasion, which we highly encourage local investors to take advantage of to facilitate swift and efficient evaluations of their prospective investments.
The best thing is most of these sites below are completely free!
Here’s a few sites you should get to know:
1. Zillow
Zillow, a formidable real estate website, has been amassing data on the intricacies of real estate wealth, a feat few other websites can match. The CEO of Zillow, Spencer Rascoff, acknowledges that their “living database of all homes” is their best asset.
One feature of Zillow, the Zestimate tool, has been noted by many as being off. While it may be entertaining to see what the computer calculates, it’s important to know how to scrutinize the comps and evaluate the market oneself.
If you’re an investor seeking to familiarize yourself with a specific market, spending a significant amount of time on Zillow and delving into the minute details of every property sold in your desired neighborhoods can be beneficial. Try to discern the psychological factors behind the prices and comprehend the reasoning behind the buyer and seller’s decision to settle on that price point.
It’s crucial to bear in mind that every sale represents a minuscule fragment of the larger, constantly shifting puzzle that constitutes the entire market.
Overall, Zillow is an exceptional tool for investors who want to gain a thorough understanding of their desired markets.
2. Craiglist
The website Craigslist is a remarkable platform that offers remarkable opportunities to its users. If you invest ample time on the site, you can discover some incredible bargains. However, there is a catch: some users post adverts that do not adequately describe their properties, which leads to confusion and frustration. This situation is ubiquitous and occurs every day across all regions of the market. Therefore, to find the most desirable properties, one must dedicate time to browse through numerous substandard ads.
3. LoopNet
LoopNet stands as the preeminent figure of commercial real estate investing, commanding an air of distinction and authority in the market. If you yearn to sell a gargantuan building to institutional investors, LoopNet represents the go-to site for listing your asset. Admittedly, LoopNet houses some stupendous deals, but navigating the labyrinthine competition amongst investors is no small feat. For those Grade-A investors collaborating with top brokers, the opportunity exists to triumph in the bidding war and solidify the deal. Nevertheless, those novices just breaking into the industry ought to steer clear of LoopNet.
If you possess the requisite prowess and industry experience, LoopNet functions as a valuable resource for delving into the Florida market and assessing the fluctuations in the major money movements. You may find yourself surprised at what you can uncover by perusing the extensive list of properties for sale and observing the locales where transactions take place.
4. Auction.com
Auction.com, true to its namesake, functions as an immense hub for an array of auctions, encompassing foreclosures, REOs, short sales, distressed properties, land, new construction, and the like.
It is recommended that one peruses the auction calendar and proceeds to visit some auctions in Florida, as the opportunities for networking with potential business partners can be highly lucrative. Who knows? Perhaps your future collaborator lies just around the corner, waiting to be discovered at the auction.
5. Realtor.com
Realtor.com is an extensive platform that allows you to search the multiple listing service, the largest database of real estate listings. However, the inconsistency in the data displayed can be a source of confusion to many users.
Nonetheless, the platform offers valuable search alerts and tools that provide prompt notifications whenever a broker in your vicinity adds a new listing. If you are an ardent investor, forming a mutually beneficial relationship with an excellent Realtor is crucial for your long-term success rather than relying solely on the website’s functionalities.
6. Walkscore
Investors often overlook the valuable insights that can be gleaned from Walkscore.com – a grave error. This website furnishes an abundance of information regarding any specific location. It provides an evaluation of the property’s accessibility and what is in its vicinity. Moreover, it’s a fabulous tool for discerning which areas may be undervalued for the amenities they offer. When an area’s Walkscore is high, and its prices are low, the probability of a price rise in the future is good. Although there are notable exceptions, walkability is a vital determinant in the Florida real estate market. By utilizing these tools, you can better comprehend the Florida market and make an informed decision before making any significant investment. It’s crucial to undertake extensive research and gain a comprehensive understanding of the market before venturing to invest in a property.
You can always give us a call (786) 904-1444 – we love to partner up with investors, and we’ve got great terms.
If you’re looking to access to local Florida investment properties, great!