Need guidance and contact in Lake city, Florida

Flipper/Rehabber · Edison, NJ · Member since 2017 · 9 posts · 1 vote

We have successfully invested and profitable in Kansas city, MO and looking to invest in Lake city, FL ? Is it a good area to invest in ? What's the growth factors which will drives prices up ( even if it is 1-2 % up per year ) ? How is the crime scene and overall vibe in city ? Any guidance would help me ?

1 Reply

24 views

Most Popular Reply

Justin Broaderick

Real Estate Agent · Gainesville, FL · Member since 2016 · 5 posts · 3 votes

Hey @Kumar Ranjan. Happy Wednesday!

As the others have advised, I would recommend a strategy that takes advantage of increasing density levels, driving appreciation and increased rental rates, and thereby ROI. While Lake City is certainly growing, as well as other surrounding areas such as Ocala, at a good rate, Gainesville is seeing such growth and development that it would possibly most behoove you in the area.

If you would like to discuss further - pm me - and we can set a time to talk about how we are winning for our investors in this economy/market.

2 Reply

See this reply in the discussion

7 Replies

Jump to latestLatest

Sort by

Jeff CopelandBusiness Member
Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
8y
Curious why you would choose Lake City of all places? No offense to anyone in Lake City (and please correct me if I'm wrong), but it's a comparatively rural area, and, other than being at the crossroads of two major interstates, has very little going for it from an economic standpoint in terms of a rental market. There is a community college there, but community college students are more often commuters, and aren't typically a good demographic to target as potential renters.
To be clear, I am no expert on the Columbia County real estate market (I'm a few hours south in Tampa Bay), and maybe you know something I don't. But most out of state investors tend to gravitate towards the more urban areas of Jacksonville, Tampa Bay, and Orlando...or Gainesville if you are targeting the college/university demographic.
Copeland Morgan LLC4.770 Reviews
Website View Page
0 Reply
Amber H.
Tampa, FL · Member since 2017 · 38 posts · 13 votes
8y
@Jeff Copeland you are completely right. Gainesville would honestly be the better option (20-30 minutes away) and dense w/ University of Florida college students. I guess it just depends if college students are the demographic of choice. Best of luck, Kumar!
1 Reply
Jenn BaronaPro Member
Real Estate Agent · Gainesville, FL · Member since 2016 · 115 posts · 100 votes
8y
Jeff and Amber are exactly right. I am an agent here in Gainesville FL and we have students coming in for the University of Florida, residents coming for Shands hospital and just employees in general coming to work at the university or the several hospitals we have in town. Lake City is very rural and like Jeff said their isn’t much going on in ways of growth. There is a lot of mobile home rentals and not much else. If you need any help in gainesville I’ll be glad to help.
352-214-4475
1 Reply
Justin Broaderick
Real Estate Agent · Gainesville, FL · Member since 2016 · 5 posts · 3 votes
8y
Hey @Kumar Ranjan. Happy Wednesday!
As the others have advised, I would recommend a strategy that takes advantage of increasing density levels, driving appreciation and increased rental rates, and thereby ROI. While Lake City is certainly growing, as well as other surrounding areas such as Ocala, at a good rate, Gainesville is seeing such growth and development that it would possibly most behoove you in the area.
If you would like to discuss further - pm me - and we can set a time to talk about how we are winning for our investors in this economy/market.
2 Reply
Bob Razler
Rental Property Investor · Boca Raton, FL · Member since 2017 · 329 posts · 237 votes
8y
Could the OP be thinking of Lakeland, FL?
0 Reply
Joe Hines
Investor · San Jose, CA · Member since 2017 · 118 posts · 108 votes
8y
Hey Kumar,
I am from Lake City and have a good number of rentals there. While the rental market is okay, I wouldn't say I'm getting rich and I wouldn't advise anyone from outside the area to attempt to invest here. Not being selfish or protective, it's just not a high profit area and you really have to 'know people' to get things to happen. I've noticed quite a bit of local buy-and-hold investors in the area as well, mostly investing in C- and D-class rentals and below (I would say there is no A-class here). While Lake City has grown, it is still relatively rural and there is no major industry. Like most rural areas, rentals here go for about $1 per sf and really peek at about $1500 per month. Over that amount, the rental demand is thin. Jacksonville, Gainesville, Ocala or Orlando would be more advisable.
1 Reply
Abby Hale
Real Estate Broker · Member since 2019 · 4 posts · 0 votes
7y
@Kumar Ranjan
We live in Lake city and have several rentals here. Generally the rental demand is high with reasonable returns. Stay away from NE, SW is the most desirable. Rents do max out at $1500.
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.