One story I like to tell people visiting me here in Destin, FL, is how the town was founded. A fishing captain from New London, in Connecticut, sailed here, dropped anchor, and stayed. They usually ask me if the fishing is that good, and I tell them yes, but…would it matter? As I write this, it’s 33 degrees and rainy in New London. It’s 68 and sunny here in the dead of winter. I’d stay even if the fishing wasn’t some of the best in the country.
That’s why the investment property market in Destin can be so promising. This isn’t a big town, but there’s a lot of flux with people coming and going. That’s why finding, buying, and renting out an investment property can potentially deliver consistent passive rental income. The trick is to find the best Destin, FL investment properties. There are a lot of ways to do so, and some are better than others. Starting out on the right path gives you the best chance at success.
As long as the fish are biting, and even if they aren’t, people will come here. It’s up to you to help them find the right place to live.
Some Good Ways to Find Investment Property in Destin Florida
Destin is the kind of place where buying investment properties is an easy choice.
The population here triples in the peak season. So, you can have property for short or medium-term rentals, for people wanting to spend the summer fishing away or lazing on the impossibly beautiful beaches. But, owning vacation rentals is not all there is for investing in Destin real estate.
Despite being somewhat small, Destin has a booming real estate market. Over the last few years, housing prices have been on the rise. This year, it’s a seller’s market. That means there are more buyers than houses available for sale. It also means that you stand to make a pretty penny by feeding the “hunger for housing.”
But, first, you have to find a distressed house to buy, renovate, and sell. Some methods work better than others, and some work best of all. Here is how some of the locals go about it.
Investment Groups and Other Meetups
This is a really popular strategy since it is so social. There are a lot of investment groups here in Florida, like the Professional Investors Guild, which teaches people how to protect and grow their assets through real estate. It doesn’t actually give you leads, but you learn more about how to get them and you talk to people who are also looking. The downside, of course, is that these people are also essentially your competitors.
Real Estate Agents
There are a lot of agents here in Destin that specialize in helping you find investment properties. They know this is a good area, and they know the area really well. Of course, you also have to pay their fees, and you are rarely their sole client. It’s a nice way to have a guide, but certainly not actual guidance. You’re using a vendor. Not a terrible thing, but you aren’t on equal footing.
Distressed Property Websites
Lots of websites, like Zillow and Trulia, that help you find houses that are distressed or are being foreclosed. It’s pretty easy to look and you get a good sense of where to focus. The only problem is that all your competitors are looking too. Once a house gets listed there, it is public knowledge, and you don’t have any inside edge.
Okaloosa Sheriff Sales
Of course, not every property is sold before the bank or the county takes it. These go to the Okaloosa Sheriff to be auctioned. The auction can be great for buying a home cheaply, if you know what you’re doing. You have the same problem with competition, of course, in more ways than one. In a county this size, the auction only happens once every four or five weeks—if that. And, there are a lot of people buying. So, things might get pretty competitive.
I’ve tried all of the methods above and more. I’ve gone knocking on doors. I’ve put up ads, some good, some barely better than those signs you see nailed to telephone poles. Do those ever work? They didn’t for me.
So, is there any really good way to find investment property in Destin, FL? Well, there’s one that I am fond of.
A Better Way to Find Leads in Destin, Florida
When I became an independently owned and operated HomeVestors® franchisee, the leads on Destin investment properties started coming to me. The nationally-known and trusted “We Buy Ugly Houses®” advertising campaign draws attention from distressed homeowners across Florida. So, when they need to sell quickly, they contact me. I can get qualified leads even before the houses are on the market, before they go to auction, and before everyone and their sunscreen-on-the-nose brother knows about them.
HomeVestors®’ marketing gives you an opportunity to buy investment property here in Destin Florida before the competition gets wind of it. If you want to find a better way to get qualified leads, request information about becoming a franchisee today. Happy fishing.
Each franchise office is independently owned and operated.