New and upcoming markets/towns in Florida

[Jorge Perez]

Hey guys and gals. I have a 1031 Exchange in my near future and in my market specifically(Miami) prices and therefore cap rates are out of control and ROI's are not favorable.

Any investors out there familiar with other markets in Florida that are promising and you are having success with at the moment or speculating growth in the future other than Orlando/Tampa in multi family assets?

Thank you in advance for the insight.

[Dave Foster]

@Jorge Perez, returns are compressing nationwide in MF.  But Central FL is holding up well.  And I just came across an incredible stat while doing some research for another client.  Nationwide the ratio of dwellings is 2/3rds owner occupied and 1/3rd non-owner occupied.  In the Orlando that is reversed - 2/3rds of households are non-owner occupied.  That's an incredible stat to ponder when you also consider that Orlando region has been adding almost 1000 people a week for some time.  That's a powerful engine.  But it's not depressed so bottom shoppers will be disappointed.