Multifamily investments, FLORIDA
I'm stat investing in Florida, which locations of the following as the best to invest in multifamily properties for buy and hold -
Jacksonville, Daytona beach, Port Orange and Palm Point
If you guys have some properties/ GC's / Title companies suggestion DM me.
thank you.
Most Popular Reply
@Roey Ochayon piggy backing off of what @Jeff Hamann said, Jax has had a rough few years but has seemed to kind of bottom out a stabilize. We've bought 150 units in Jax, still own 51 units there, and manage for other owners in Jax and Orlando.
Rents dropped quite a bit 2022 through today, but most properties and units we have now have stayed pretty much flat. Occupancy has stayed pretty good, but days on market has gone up the past few years and leasing has been tougher. The lead volume per unit we get is down, however, each lead we get is more likely to lease than in previous years, so lead quality has actually gone up.
We've focused a lot more on the quality of our listings in recent years then we needed to in 2020-2022, and that has helped a bit. However it's still not easy and we're entering a historically slow leasing season right now as well.
There's definitely deals out there, and you can find listings on Crexi or Loopnet to look at, but definitely want to be careful which ones you go for.