Why so much inventory for Rent in South Florida. is it bad to invest???

[Leonard Rybak]

Hi all,   I am interesting in purchasing a property for rent in south east Florida, mainly Hallandale, Hollywood and South Beach.  I have notice quite a tremendous amount of properties listed for rent on zillow and they have been sitting nearly a year .   What is the cause of this?  I am afraid to invest there for Long term rentals as a fear I will be vacant for quite a while.   Is it mainly the location is a poor rental area?  Maybe it more for retirees?  Any input would be appreciated. 

[AJ Wong]

I grew up in Florida and we still do a majority of our lending there. The insurance is prohibitive but we're personally browsing property on the North Coast currently. In general I think it's a decent time to get stronger value or a better investment. Quality and location are (as always)  key. We're passive aggressive investors at the moment. @Joseph Chiofalo is a good local lending resource and dually licensed RE broker, good for some high level market insight. Good luck!