Florida Investment Properties: What’s Hot?
Calling all Floridians! Real estate investing is as lucrative of an industry as ever, and Florida is no exception. Today we are going to cover all of the bases of Florida investment properties, including what’s hot in markets such as Tampa, Miami, Orlando, and Jacksonville. We’ll even dive into market trends and future predictions so that you have all of the information you need pertaining to Florida investment properties right at the palm (pun intended) of your hands. Keep reading to become an expert!
Hot Markets
Successfully finding Florida investment properties boils down to where exactly you’re looking to start. We’ve compiled a list of four major hot spots in Florida that would be excellent places to start, sizzling with opportunities! We’ll also provide links to our page for each of these specific markets in case you find yourself too excited to wait any longer. Let’s break these markets down:
- Tampa: Tampa is a hot market for real estate investing, and it’s no secret why. Norada Real Estate Investments details many of these reasons, but we’ll touch on a few of the ones that stood out to us. Dwindling unemployment rates, major economic developments, and skyrocketing growth are all contributing factors to Tampa’s success, not even including the cheap cost of real estate and living expenses overall. Luckily, it’s not too good to be true, so jump on Tampa real estate properties before it’s too late!
As you’ll see here, there are dozens of homes waiting to be scooped up by investors just like you.
- Miami: My oh my, or should we say my oh Miami! This is another excellent city to consider investing in. Similar to Tampa, the demand for South Florida real estate isn’t going down anytime soon; in fact, it’s still growing. According to Miamirealtors.com, the total home sales surged 114.3% year-over-year in June 2021. Talk about impressive! Check out what MyHouseDeals has to offer in Miami right now, and we guarantee you won’t be disappointed.
- Orlando: Again, similar to the previous two cities, Orlando is a hot market that is on fire with opportunity. However, Orlando has the advantage of being home to iconic tourist destinations like Disney World and Universal Orlando, in addition to its other tourist attractions such as convention centers and major shopping outlets. All of these factors in concert with affordable real estate prices make Orlando an obvious choice for investors looking to find success in Florida. Check out MyHouseDeals to begin looking and, in the famous words of Walt Disney himself, “All our dreams can come true if we have the courage to pursue them!”
- Jacksonville: Last, but certainly not least, we have Jacksonville. Jacksonville has the advantage of being in a great location with an excellent quality of life, driving many families to seek real estate and call this city home. Don’t miss out! Go here to see a multitude of real estate opportunities calling your name.
Market Trends and Future Predictions
You may be asking yourself “Why Florida?” Well, while the pandemic’s decline has brought about economic growth to other states too, it’s important to note that Florida provides different opportunities from an investing perspective than other states. Primarily, Florida is a prominent vacation spot thanks to its beautiful beaches and year-round warm weather. This means vacation rentals are a crucial part of income and opportunity for real estate investors located in Florida. With the economy on the upward trend, many people are beginning to resume pre-pandemic ways of life which include traveling, so investing in some of these vacation rentals could be the opportunity of a lifetime!
On the contrary, there are some potential concerns to keep in the back of your mind if you’re serious about investing in Florida. One major change that has impacted Florida recently comes from our September edition of The Five. You can read more about it in that post, but here’s the SparkNotes version: the government is scaling back subsidies for flood insurance which impacts coastal cities, and many of the cities in Florida we just discussed fit the bill. This could be potentially disastrous for real estate investors looking for affordable real estate without much risk, and flood insurance is indeed a big risk in a hurricane-prone state like Florida. Obviously, it’s impossible to predict the future, but it’s always better to be prepared. Since this scaleback is likely to upend coastal real estate markets, make sure you account for these risks in your planning process.
Investing Dynamics
It’s no secret that Florida has a large population of retired folks and senior citizens. So, how does this have anything to do with investing dynamics? Well, as always, the first step you want to take while planning your next real estate investment project is to look at the home from the eyes of prospective buyers. What are they looking for in a home? What will set my investment property apart from others? These are all important questions to ask yourself before getting down to the nitty-gritty. Retired folks are probably looking to downsize while still seeking solid, high-quality appliances and features. Senior citizens are likely interested in something similar but with senior citizen-friendly features and amenities. You really can’t over-prepare when it comes to researching investing dynamics of the location you’re investing in, so search away!
Summary
If we haven’t convinced you yet, Florida is an excellent place for real estate investors and is only getting better! Whether you’re looking in hot markets like Tampa, Miami, Orlando, or Jacksonville, we’re confident that you’ll be able to maneuver around all of the different market trends, future predictions, and investing dynamics no matter where you land. Stay tuned for future articles about real estate investing and simple ways for you to achieve your goals. As always, happy, and profitable, investing!
