How to Invest in ‘The Hamptons’ of South Florida for Under £40k

Vero Beach, on the east coast of Florida, is a migration mecca for retired CEOs. Cited as ‘The Hamptons’ for south Florida, Vero Beach is where the rich list of Miami and Palm Beach come to live and play.

Axis investors can now take control of $640,000, luxury Vero Beach properties for just $60,000 (around £37,500) with our first ever USA lease option deal. Our Vero Beach opportunity delivers three crucial benefits to make it an ideal Maximum Growth investment – massive discounts, leverage and superb projected capital growth. Download the decision pack right away, or read on to find out why everyone wants to live in Vero Beach and why local landlords agree with our investment strategy.

Millionaire migration

Once best known for being the springtime home of the LA Dodgers, this tranquil little town now has the fourth highest concentration of wealthy households in the USA, with 14% of those in the millionaire bracket. Indeed, there are now more retired Fortune 500 CEOs in Vero Beach than anywhere else in the country.

In a CNBC interview, On the Money’s Mike Hegedus says: “It’s a quiet little town, except there’s been a strange migration going on. It has nothing to do with birds, but rather with money.”

Cindy O’Dare, vice president of local real estate agency French and Co., confirms: “A lot of the buyers that are used to very large estate family homes, very private, in the $10 million and up sector, feel that Vero Beach is a bargain.”

Mike adds: “There are for spec homes available at $13 million and there are plenty of buyers. Vero Beach ranked the second strongest real estate market in the country.”

Property developer, George Heaton, who has been in construction across south Florida for 40 years, simply explains why he has now turned his sights on Vero Beach: “There are a lot of wealthy people here!”

Gateway to the Tropics

With a population of around 17,000, Vero Beach is affectionately nicknamed the ‘Gateway to the Tropics’, due to it being in a climatic transition zone. This provides an unusual mix of nature, from ancient oak trees and pine forests, through to the swaying palms and colourful blooms typical of the tropics. The area’s stunning nature reserves are listed on the National Register of Historic Places.

The Indian River Lagoon, passing through Vero Beach, forms a significant part of the Intracoastal Waterway and is a hub for boating, fishing and water skiing. Add 26 miles of unspoiled beaches and some of the USA’s best surfing, diving and snorkelling; and it’s no surprise that Vero Beach is repeatedly cited in the best places to live in the USA.

One of the highest income brackets in the USA

Indeed, Forbes magazine reports that Vero Beach (and the particularly the barrier island area) is one of 64 places across the USA where the average income (in the high income range) tops $1 million. According to IRS data obtained by Forbes writer William Baldwin, the average adjusted gross income is $1.06 million. This places Vero Beach 51^st in the national 64.

In his report, ‘The Secret Life Of Millionaires’ (September 2011), Baldwin writes: “If you want to know where wealthy people congregate, go to the IRS zip code bracket. What I would up with was a statistical snapshot of very prosperous people in very prosperous areas.”

He continues: “The trickiest matter is estimating the value of investment property (other than stocks and bonds). This category includes real estate and I assumed a value for these alternative investments equal to 25 times their taxable income. That multiple is high for active businesses, but low for real estate.”

Local landlords say rentals are thriving

So what does this mean for property investors? We can clearly see the value of Vero Beach real estate, but what about the rental market?

According to local landlords, rentals in residential areas are a thriving business in Vero Beach.

Kevin Howell, a small portfolio businessman who has four short-term rental properties, says: “We get a pretty decent response in terms of renting out the houses. But it is really a holding pattern. The idea is to get some activity which enables us to hold onto the houses until the market recovers and we sell.”

Local council member, Tracy Carroll, agrees: “It is the same with us. We have a construction company and we built at the end of the rise in property values. So we furnished it for renting to cover the cost of the mortgage and hold. We don’t want to lose the house.”

One of the most valuable investments you can make

Right now, Vero Beach real estate is quite possibly one of the most valuable additions property investors could make to their portfolios. The market is still low enough, overall, to get hold of foreclosure and short sale bargains, but this window of opportunity is starting to close.

So, take full advantage of this chance to invest in ‘The Hamptons of South Florida’ from just £37,500. We urge you to act fast, as this is a once in a property cycle opportunity and we have just SIX of these luxury, award-winning, residential villas.