Real Estate Investing In Florida (Rehab & Rental Markets)
There are 2 basic ways people Invest in Real Estate, Rehabbing or Wholesaling & Rentals. You can find Rehab & Wholesale properties in any city. Rental markets are a little different, you can still find good rental properties in any market too. Some markets are better than others though. Florida has 3 of the top 10 Rental Markets: Jacksonville, Orlando, & Tampa.
The best places to buy rental property for cash flow and equity growth often have three things in common: job growth, population growth and affordability. When you find a market that has all three of these factors, you’ll probably be able to find good investment opportunities. The demand for single family homes has been on the rise in the Sunshine State for quite some time. Still, it’s possible to acquire fully renovated properties in good Florida neighborhoods for under $157,000. Property taxes and insurance are low, plus there’s no state income tax. Add warm weather and exceptional health care, and you can see why many of the 10,000 baby boomers retiring every day are moving to Florida.
Rated #1: Orlando, Florida
Property taxes and insurance are low, plus there’s no state income tax. Add warm weather and exceptional health care, and you can see why many of the 10,000 baby boomers retiring every day are moving to Florida. Orlando is one of the best places to buy rental property in the state of Florida in 2019. Located in Florida’s “sun belt” region, the area is known for its warm climate, beautiful beaches, world famous amusement parks, entertainment, and attractions. With a growing population of over 2.5 million residents, the Orlando real estate market is fueled by job seekers, baby boomer retirees, and students who want to live in a “cheap and cheerful” area that offers a high quality of living at a reasonable cost.
Rated #2: Tampa, Florida
Located on the west coast of Florida, Tampa Bay is a densely populated metropolitan area (second only to Miami), with a population of more than 3 million people. Major cities in this area include St. Petersburg, Largo, Clearwater, New Port Richey, Holiday and Tampa. The local economy is worth over $130 billion and the metro area has been ranked as one of the top 20 fastest growing in the country. Tampa also has a strong local economy with a strong focus on job growth in areas such as financial services and healthcare. The Greater Tampa Bay area has created approximately 30,000 new jobs in just 12 months, with a job growth rate 18.32% above the national average. More than 19 firms with annual revenues of more than $1 billion are headquartered here and it is home to four Fortune 500 companies. Tampa and surrounding areas continue to be some of the best real estate markets in the country.
Rated #3: Jacksonville, Florida
In the past 7 years, the Jacksonville metro area has grown by 11.55%. To date there are 1.5 million people living in this area, and more continue to come every year. In fact, Jacksonville’s population has been steadily increasing at a rate of about 2% per year, and their workforce is growing at a consistent rate as well. There are many reasons for this growth. For starters, Jacksonville is also the only Florida city that is home to four Fortune 500 companies. The region also has a world-class health care system, with more than 20 hospitals and a growing bioscience community. Additionally, 13 of Forbes Global 500 have operations in Jacksonville. With a cost of living below the national average, a wonderful climate and a business-friendly environment, we believe Jacksonville is one of the best real estate investment markets in the country right now.