Interest rates, closing fees, and interest types (adjustable or fixed) are some of the details and terms you can negotiate with hard money lenders to close a deal. When you get a hard money loan tailored to your needs, if you follow directions you can only expect the best for your property investments.
And a good place to consider investing in real estate is the city of Melbourne, especially with a hard money lender.
Melbourne is located in Brevard County and has a population of 83,029 residents. It’s famous for being a hub for the high-tech and aerospace industry. Rockwell Collins, Northrop Grumman and Embraer are some of the top companies based in Melbourne, Florida.
Local Economy
Per capita income in Melbourne is $28,776 and job growth is 1.85%. There’s a local program which is The Ad Valorem Tax Exemption Program. It was approved by the voters of the City of Melbourne in 2000 and 2010, with the goal of exempting property taxes for capital investments or expanding businesses that create new jobs for the city.
Real Estate Market in Melbourne, Florida
In the rental market, the average rate is $1,349 per month and the median home value is $220,035.
Incentive Programs for Businesses
Melbourne offers some incentives for local businesses with the goal of supporting the city’s economy and its impact in the community. Some of them include:
Melbourne economic Enhancement District (MEED)
There are two incentives in this program, the first one is offered through Enterprise Florida and focuses on economic development and redevelopment. The second focuses on redevelopment projects only and is offered through the Florida Department of Environmental Protection (FDEP).
Ad Valorem Tax Exemption Program
This program offers some property tax exemptions for local businesses.
Local Education Stats
The percentage of education levels from Melbourne’s residents is 91.3% of High School grads or higher and 28.5% of Bachelors’s or higher.
Famous Places in Melbourne, Florida
Sebastian Inlet State Park, Foosaner Art Museum, Brevard Zoo and Eau Gallie Arts District are a few of the many places to visit.
Obtaining a hard money loan in Melbourne, Florida to invest in real estate is easy with one of the private money lenders we listed below.
