Ocala investors, what's the attraction?

Investor · NJ · Member since 2022 · 154 posts · 224 votes

Currently investing along the Gulf coast for obvious reasons but looking to see what opportunities there are in central Florida. What info can you provide about Ocala from a multifamily investor standpoint?

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Tyler GibsonBusiness Member

Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes

Quote from @Bernard Joseph S.:

Ocala's been a steadily growing market. I think one of the big attractions is the purchase price to rent ratio. People are moving to the area because there are jobs available in the distribution centers that can be located along interstate 75. The other employer is the service industry in the city of the villages. Many of these service workers find housing in nearby Ocala or the city of leesburg. This is because the villages is a 55 plus community and many of the people working in the service industry jobs located within the community are not 55 therefore they must find somewhere else to live nearby.

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Tyler GibsonBusiness Member
Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
3y
Quote from @Bernard Joseph S.:

Currently investing along the Gulf coast for obvious reasons but looking to see what opportunities there are in central Florida. What info can you provide about Ocala from a multifamily investor standpoint?
Ocala's been a steadily growing market. I think one of the big attractions is the purchase price to rent ratio. People are moving to the area because there are jobs available in the distribution centers that can be located along interstate 75. The other employer is the service industry in the city of the villages. Many of these service workers find housing in nearby Ocala or the city of leesburg. This is because the villages is a 55 plus community and many of the people working in the service industry jobs located within the community are not 55 therefore they must find somewhere else to live nearby.
[email protected]407-590-9858
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Bernard Joseph S.
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Investor · NJ · Member since 2022 · 154 posts · 224 votes
3y
Quote from @Tyler Gibson:

Quote from @Bernard Joseph S.:

Currently investing along the Gulf coast for obvious reasons but looking to see what opportunities there are in central Florida. What info can you provide about Ocala from a multifamily investor standpoint?
Ocala's been a steadily growing market. I think one of the big attractions is the purchase price to rent ratio. People are moving to the area because there are jobs available in the distribution centers that can be located along interstate 75. The other employer is the service industry in the city of the villages. Many of these service workers find housing in nearby Ocala or the city of leesburg. This is because the villages is a 55 plus community and many of the people working in the service industry jobs located within the community are not 55 therefore they must find somewhere else to live nearby.

This is what I've been hearing. Thank you for confirming
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Sarah Roberts
Realtor · Ocala, FL · Member since 2023 · 26 posts · 7 votes
3y
Quote from @Bernard Joseph S.:

Currently investing along the Gulf coast for obvious reasons but looking to see what opportunities there are in central Florida. What info can you provide about Ocala from a multifamily investor standpoint?
Ocala has a lot to offer. It’s a great central location, you can get to either ocean in 1.5 hours. It has Silver Springs, which has been a huge attraction since the 1800’s. It’s extremely affordable. It has Lockheed Martin which is a big, steady employer. Message me if you want any more details!
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Clay Lehman
Member since 2018 · 107 posts · 92 votes
3y
Quote from @Tyler Gibson:

Quote from @Bernard Joseph S.:

Currently investing along the Gulf coast for obvious reasons but looking to see what opportunities there are in central Florida. What info can you provide about Ocala from a multifamily investor standpoint?
Ocala's been a steadily growing market. I think one of the big attractions is the purchase price to rent ratio. People are moving to the area because there are jobs available in the distribution centers that can be located along interstate 75. The other employer is the service industry in the city of the villages. Many of these service workers find housing in nearby Ocala or the city of leesburg. This is because the villages is a 55 plus community and many of the people working in the service industry jobs located within the community are not 55 therefore they must find somewhere else to live nearby.

I agree with what @Tyler Gibson says here. I am an investor, agent and property manager in the Ocala area. I have lived here since 2005. The area has expanded its employment base. Ocala is supported by a robust distribution economy as well as the equestrian precense (multi-billion dollar impact) and the large number of 55+ communities that drive service and healthcare jobs. Home prices are relatively affordable as one of the lower price point MSAs in the state. The rents have grown steadily and so while returns are squeezed by the increasing home prices and cost to borrow, there is still an opportunity to have positive cash flow with the higher rents.
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Lyndsay Zwirlein
Lender · Member since 2020 · 331 posts · 209 votes
3y
Also I have had clients buy here for STRs - the equestrian center creates nice rental demand.
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