Updated 24 days ago on . Most recent reply
Anyone here investing in Palatka Florida
I have been looking into investing remotely there and wanted to get a heads up on the good and bad etc. I hear things are startring to move forward there from a non-investor and would like to know more
Most Popular Reply
Allen — Palatka’s an interesting market. It’s been overlooked for years, but you’re right, there’s been more movement recently with spillover from Jacksonville and St. Augustine.
Good:
• Entry prices are still low compared to surrounding areas.
• Solid rental demand with workforce housing.
• City/county are pushing for more revitalization downtown.
Challenges:
• Smaller buyer pool on the exit, so flips can take longer.
• Some pockets are very block-by-block — one street can look great, the next over can drag down comps.
• Insurance and storm risk (like much of FL) adds to holding costs.
A lot of investors I know focus on small multis or starter SFRs there — they cash flow better and don’t require “luxury” upgrades to move.
If you do decide to pursue something, make sure you’ve got lending lined up that can move quickly. In these smaller markets, good deals go to whoever can close fastest, not necessarily the highest offer.
Curious — are you thinking about Palatka as a buy-and-hold play, or more of a fix-and-flip strategy?
- Jackie Carmichael
