Affordable Florida housing can be an anomaly. If Florida rental laws change however, this could change. This will happen if the Florida legislature allocates funds for its State Housing Initiatives Partnership – a move that has not occurred in the last three years.
A group of real estate agents in Sarasota was informed by an affordable housing advocacy group that these funds are “critically” needed. Part of the reason for this is due to the fact that the price tag on Southwest Florida shelter is escalating at a speedier rate than worker wages. If this is not dealt with, the entire economy of Florida (along with those who live there) will be negatively affected.
Indeed, according to President of the Florida Housing Coalition, Jaimie Ross, “this is the most important fund to affordable housing in Florida. The difference between a market home and an affordable home is subsidy. SHIP [State Housing Initiatives Partnership program] is critical.”
Looking at the larger issue of Florida rental laws, Florida is actually somewhat unique in that it needs its local jurisdiction to provide affordable housing. That is usually covered through SHIP, which has funds that are set aside for housing subsidies and handed out to each county on a population-based formula. The municipality has a choice as to how to spend its SHIP allocations – from the homeless, to assisting first time home buyers, renovations needed, etc.
There are various options when it comes to investing in real estate. Steven P. Rosenthal, President and CEO of Northland Investment Corporation, has been working in this industry for many years. According to one business writer, Andrew Beattie, over the last half-century, property purchasing has gained increasing popularity as a sound investment. However, one who is interested in the market needs to realize that in general, real estate investment is significantly more complex than standard stocks and bonds investments.
Northland Investment Corporation – a real estate investment company of over four-and-half decades – achieves its results by its “ability to create value.” The firm focuses on determining potential. As they explain on their website, “The paramount consideration in Northland's approach to real estate investing is identifying value creation opportunities.”
When it comes to real estate investment, Northland seeks to amass real estate assets “diversified by markets, sectors and lines of business—and balancing the acquisition of high quality, lower risk assets with higher yielding, valued added assets and development opportunities.” In terms of determining the best real estate investment for an individualized fiscal situation, people should analyze the following basic options: basic rental properties (buying a property and thereafter renting it out); real estate investment groups (gives one the benefit of buying a property, renting it out but not having the stress of being a landlord. A company buys apartments and allows investors to buy them through the company); real estate trading; real estate investment trust and leverage.
It is important to look at all options and discuss them with experts in the field before delving into the real estate market.