Hi All - i'm interested to know what the rental market is like in 55+ retirement communities, particularly in South FL, given baby boomers are outliving retirement income. I split time for work in New York and Delray Beach area, and have had many conversations with elderly folks that they are actually renting retirement home as opposed to buying. Obviously, this limits your tenant pool, but interested to hear if this is a type of investment that others are currently or interested in pursuing. Any insight in the retirement market, profitability, capability, etc. would be much appreciated!
Real Estate Agent · Boynton Beach, FL · Member since 2017 · 250 posts · 135 votes
6y
Yes there are several communities that make sense ! Quite a deman for rentals as a lot of over 55 condos require cash to purchase and some folks just don’t have it.
There are some you can get for quite inexpensive (under 60k) and wither renovate or rent as is.
Hope that gets you going and happy to answer more qs.
Thanks, Share. this is very helpful. any idea what the % of communities are cash-only offers? I am looking use leverage on any of these, unless i went and raised some private capital. FYI I am also strongly considering non-retirement community properties as well, was just interested in this particular market from an investment standpoint