At the end of March the Palm Beach International Real Estate Expo will take place at the Palm Beach County Convention Center, West Palm Beach. To date, close to two hundred exhibitors (architects, brokers, lenders, developers, etc.) have signed up to participate. Sponsored by 2030 World LLC, this is a good time for the event given the booming condominium market and the increase in single-family homes in the southern parts of the State.
Many of the excess condominium units that were erected during the 2000 to 2005 housing boom have since been sold to foreign investors. Now, there is such an increasing demand, that housing developers are planning on building close to 15,000 new units. Around 3,000 of these will be in the Broward and Palm Beach counties.
Clearly the Florida real estate market is on the up. Indeed, so much so that the Boca Real Estate Investment Club is booming with increasingly more people feeling that getting into this career is more stable than others right now. Founded by David Dweck, the group of young twenty- and thirty-something professionals are seeking to make real estate flipping in Florida, a full-time job. And it seems that they are succeeding! One guy purchased a bank-owned home in Boynton Beach for $68,000, renovated it at a cost of $30,000 and then six months later sold it for $135,000. And they enjoy the actual job – finding something that is very unlivable and turning it into a beautiful home.
The club is working for a few reasons. First, it is because of the boom in Florida real estate and second, because as Dweck argues, the age-old staying in the same job for tens of years working 40 hours a week just isn’t the American way anymore. “People are starting to realize that real estate investment is viable,” he added.
So if the Florida housing market continues on its upward spiral, this really could be a potential new job possibility for many young, up-start professionals looking to get their foot on the career ladder.