Does anyone invest in Ocala Florida
Rental Property Investor · Chalfont, PA · Member since 2021 · 189 posts · 90 votes
I am thinking of investing in rental property in Ocala Florida. Wondering if anyone has experience there? If so, is there any red flags such as rental restrictions, limitations, etc. Thanks
I am thinking of investing in rental property in Ocala Florida. Wondering if anyone has experience there? If so, is there any red flags such as rental restrictions, limitations, etc. Thanks
We have about 17 rentals in Ocala and has been a huge success for us. We got them right in time during the 2021 and got quite good deals. It's different market now and I am slowly getting back to explore to see if we can still cashflow in the new price. For a 3/2/1 of 1200 sq ft, you can easily rent it for 1650 which is what I did last week for a lease break out and had a tenant move in 3 days after the vacancy. Lease was signed before. So depending on how much you pay for it, you can assess your cashflow.
Hello everyone, we know this post is a few months old now, however we are interested in the Ocala, FL market as well, primarily looking at LTR SFHs in the Silver Spring Shores, Heath Brook, or Marion Oaks neighborhoods. We live in San Diego so would be long-distance, TBD if we self-manage or enlist a PM. A couple questions:
1) Has anyone worked with local lenders like a local bank or credit union? We are out of state but would be open to working with someone local if they can offer favorable terms.
2) Any local realtors you have worked with and been happy with?
3) Any experience in those particular neighborhoods?
Thanks everyone for your input!
- Shane & Jen Regnier
Hey @Shane Regnier like Giuseppe said, it's become a little saturated in some areas of Ocala compared to 3-6 years ago. I did a quick search and there are 187 total rental listings in Marion Oaks in the last 90 days. 90 are vacant listings, 18 canceled, 70 that have leased, and 4 pending. Silver Springs has 89 active listings, 27 canceled, 4 expired, and 56 that have rented. Heathbrook has 61 active, 13 pending, 21 canceled/ expired, and 46 that have leased, so not as bad as the other two. And talking with my leasing team, the properties that are moving quicker are on the lower end of the rental range $1450-1600. I know DR Horton and Lennar are still building a lot, but they seem to be building smaller communities. I would be cautious buying in the saturated areas because there are so many similarly sized properties that price is becoming increasingly the deciding factor.
Hello everyone, we know this post is a few months old now, however we are interested in the Ocala, FL market as well, primarily looking at LTR SFHs in the Silver Spring Shores, Heath Brook, or Marion Oaks neighborhoods. We live in San Diego so would be long-distance, TBD if we self-manage or enlist a PM. A couple questions:
1) Has anyone worked with local lenders like a local bank or credit union? We are out of state but would be open to working with someone local if they can offer favorable terms.
2) Any local realtors you have worked with and been happy with?
3) Any experience in those particular neighborhoods?
Thanks everyone for your input!
- Shane & Jen Regnier
Hey @Shane Regnier like Giuseppe said, it's become a little saturated in some areas of Ocala compared to 3-6 years ago. I did a quick search and there are 187 total rental listings in Marion Oaks in the last 90 days. 90 are vacant listings, 18 canceled, 70 that have leased, and 4 pending. Silver Springs has 89 active listings, 27 canceled, 4 expired, and 56 that have rented. Heathbrook has 61 active, 13 pending, 21 canceled/ expired, and 46 that have leased, so not as bad as the other two. And talking with my leasing team, the properties that are moving quicker are on the lower end of the rental range $1450-1600. I know DR Horton and Lennar are still building a lot, but they seem to be building smaller communities. I would be cautious buying in the saturated areas because there are so many similarly sized properties that price is becoming increasingly the deciding factor.
I pulled them from the MLS for Single Family Houses in the last 90 days.