How quick will a property in Miami or Orlando sell?

[Khalid Radwan]

Hi

I am a Canadian citizen and I'm planning to invest something like USD 300,000 to buy one or two rental income units in Miami or Orlando and keep for two years only. I understand the rental yield in these two cities are typically around 5-6% net (it's less than 2% in Vancouver, BC).

Does anyone know how long it typically takes to sell an apartment or a house in these two cities? A unit in Vancouver (although offers less rental yield) sells within a month or two.

Also, is it better to buy a condo or a detached house?

Thanks in advance everyone.

KR

[John Kent]

@Khalid Radwan who knows what the market conditions will be 2 years from now? One can only guess. In Orlando, a condo can take many months to resell. Generally speaking, a well priced single family house in the first time home buyer range or lower can go to contract in a few days considering a fix to sell condition. Thirty to sixty days in average as-is condition. If the property is listed at too high a price it will sit and grow old.