Best location to invest in Florida

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Best location to invest in Florida

Lua Jambeiro
Member since 2018 · 6 posts · 2 votes

Hi everyone. Looking to purchase my investment property in Florida and was wondering where the best markets are right now.. My idea is to buy and hold for 3-5 years, renting long-term in the meantime and hopefully get some good valuation on it. Not sure if I'm too late for Orlando? Any suggestions? 

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Lesley Resnick
Real Estate Agent · Jacksonville, FL · Member since 2015 · 1k+ posts · 1k+ votes
8y

Full disclosure, I am from Jacksonville, live here, work here, invest here.

No Surprise I am going to say JAX!

There has been steady job growth and the market is moving up.  we are not over heated like Orlando or Miami.  Google - "can the average worker afford the average house in...?"  If there is a news story saying so, then the city is most likely over heated and is going to be challenged to continue upward.

There are deals, but it requires making fast decisions and having money.  The best deals move quickly and you have to have a network to get them early.   

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  • Michael Stonk
    Member since 2020 · 3 posts · 3 votes
    6y

    It's hard to go wrong in any of the major metros (besides Miami) because they have all seen enormous growth the last 5 years. That's also a double edged sword though. Tampa, Orlando, and Jax are all really nice, but they're not exactly a secret anymore either. Buying outside the city in tertiary markets might be a better play these days.

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  • Account Closed
    Member since 2020 · 2 posts · 0 votes
    6y

    I am from Central Florida, yet the majority of my business is in Saint Petersburg.   You can buy a small property for $120k and flip it for $220k, making over $40k.

    We had a property that sold three (3) times in a year. This property made approximately $30k return to each investor-- market fluctuations.

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  • Esday MI Flores
    Member since 2020 · 1 post · 0 votes
    6y

    Very interesting articles. I am actually looking to invest in FL I own 3 properties in CA and want to sell one for $350k my idea is to invest if is possible on 3 properties in FL looking into Tampa,Jacksonville or Orlando. My return here for my rental is $1900 a month if I Can make $1100 for each rentals will be a good deal for me. I am a little nervous investing far away from home. I would have to hire someone to manage the rentals until I move to FL that is probably going to be my final destination one day after kids done with school. In order to avoid taxes i have to do 1031 exchange. Does anyone know the difference between 10 31 exchange and Quality Opportunity Zone Found?

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  • Dave FosterBusiness Member
    Qualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
    6y

    @Esday MI Flores, The 1031 exchange involves selling your investment property and then purchasing new investment property using a qualified intermediary to facilitate the process.  You are not limited to geography or type of property.   Opportunity zones have been designated in each state.  In order to use an opportunity zone tax benefit you must purchase property in the opportunity zone using the gain from the sale of your property. And there are requirements on improvements and ratios of tax deferral etc.  But you do not have the time lines of the 1031.  And you only have to reinvest the gain not the entire amount of the sale as with a 1031.

    The opportunities have a shelf life and it is eroding quickly as the tax deferral benefits decrease. I don't believe there is a way any more to get 100% and ongoing tax deferral with an opportunity zone investment.

    But do come on down to FL.  The demographics statewide are expanding and growing younger.  Plenty of areas to choose from.  

    The 1031 Investor5140 Reviews
    WebsiteView Page
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  • Mary K.Pro Member
    Investor · Ocala, FL · Member since 2015 · 158 posts · 88 votes
    6y

    @Esday MI Flores you may want to check out Ocala (commuting distance to both Tampa/Orlando/Gainesville), a tertiary market. It is not as tourism dependent, and from what I have heard so far, the majority of renters are paying their rent through the virus shutdown.

    1Reply
  • Matt Nico
    Member since 2019 · 448 posts · 306 votes
    6y

    @Esday MI Flores

    If you need a hand in central Florida let me know. I have 3 rentals now and am expanding to 4 next week. I cash flow (at least) $1,500 on each property.

    I am an agent and can manage (or find you one.). There are some really great deals available right now (which is why im buying).

    Good luck!

    Matt

    1Reply
  • Stephan Garrison
    New to Real Estate · Orlando FL · Member since 2020 · 7 posts · 2 votes
    6y

    @Lua Jambeiro, I'm also new to the investment world here in florida. This was a very good post because i was think of this a couple of days ago so thanks for asking the question. And thanks to everyone else who has commented on this post, I've read some very good advice. I'll be following the post. Thanks Stephan. 

    1Reply
  • Adam Cade
    Investor · Blacksburg, VA · Member since 2020 · 65 posts · 33 votes
    6y
    Originally posted by @Matt Nico:

    @Esday MI Flores

    If you need a hand in central Florida let me know. I have 3 rentals now and am expanding to 4 next week. I cash flow (at least) $1,500 on each property.

    I am an agent and can manage (or find you one.). There are some really great deals available right now (which is why im buying).

    Matt, I am in Valdosta GA and am very interested in Jacksonville or Tampa. My wife and I are looking for our first rental property but having a tough time finding property on the market that will return a reasonable cash flow and ROI. We are BP Pro members and have been running the rental calculator pretty hard the last few weeks. I'd love to reach out to you and see what's available in those areas. Thanks, Adam.

    0Reply
  • Adam Cade
    Investor · Blacksburg, VA · Member since 2020 · 65 posts · 33 votes
    6y
    Originally posted by @Jason Luongo:

    I currently own one property in Jacksonville. It provides great returns. Right now im closing on a duplex in SW Florida, Charlotte County. As a newbie (like me), I would recommend staying away from the larger markets. I live in Palm Beach County, but I would never dream of investing here. Anything I can afford, is a WAR ZONE.

    Some areas I would check out are Jacksonville (specifically North Jax) and the west coast of Florida (Tampa, Port Charlotte, Fort Meyers etc.) Heres a few data points I like to research before selecting an area to invest in.

    • Less than 15% poverty

    • Higher than national average population growth

    • Low crime area

    • Not in a flood zone

    Best of Luck! Feel free to contact me if you have any more questions.

    Jason, how is your REI doing? My wife and I are looking to get our first investment property in the near future in Jax or Tampa. We're thinking multifamily with a strategy of 3-5 year rental terms.

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  • Pedro GuillenPro Member
    Rental Property Investor · Oxnard, CA · Member since 2018 · 55 posts · 9 votes
    6y

    @Mitchell Jaworskithanks for sharing, I’d like a copy of your property calculator

    0Reply
  • Mary K.Pro Member
    Investor · Ocala, FL · Member since 2015 · 158 posts · 88 votes
    6y

    @Matt Nico that's impressive cash flow. What type of properties are you cash flowing those amounts? SF/ large MF? Would you mind sharing some info about one of your deals? 

    0Reply
  • Matt Nico
    Member since 2019 · 448 posts · 306 votes
    6y
    Originally posted by @Mary K.:

    @Matt Nico that's impressive cash flow. What type of properties are you cash flowing those amounts? SF/ large MF? Would you mind sharing some info about one of your deals? 

     

    @Mary K Hi there!!! These properties are Single Family homes. Very large 6-7 bedroom properties. I self manage (and am thinking about starting to hire people) and to be honest with you I do deal with a lot of problems on a weekly basis, so thats why my cash flow is so high. But I have a lot of fun with it!

    I get a lot of requests just like to to ask how my deals cash flow so great....If you are more interested in one of my deals, I am actually buying another property with seller financing on Thursday (In 3 days), and I am going to type up a big post and share with everyone how I execute a rehab (with photos). Feel free to give me a follow and you will be able to see one of my deals in action :)

    Happy Housing,

    Matt

    1Reply
  • Jason Luongo
    Investor · Lake Worth, FL · Member since 2015 · 107 posts · 54 votes
    6y
    Originally posted by @Adam Cade:
    Originally posted by @Jason Luongo:

    I currently own one property in Jacksonville. It provides great returns. Right now im closing on a duplex in SW Florida, Charlotte County. As a newbie (like me), I would recommend staying away from the larger markets. I live in Palm Beach County, but I would never dream of investing here. Anything I can afford, is a WAR ZONE.

    Some areas I would check out are Jacksonville (specifically North Jax) and the west coast of Florida (Tampa, Port Charlotte, Fort Meyers etc.) Heres a few data points I like to research before selecting an area to invest in.

    • Less than 15% poverty

    • Higher than national average population growth

    • Low crime area

    • Not in a flood zone

    Best of Luck! Feel free to contact me if you have any more questions.

    Jason, how is your REI doing? My wife and I are looking to get our first investment property in the near future in Jax or Tampa. We're thinking multifamily with a strategy of 3-5 year rental terms.

     My investing is going well. I have a single family in Jax and a duplex in Punta gorda. I got great tenants in them and haven’t had any issues. I’m working on saving up capital to purchase a second duplex in Punta gorda 👍🏻

    1Reply
  • Domanie GrangerPro Member
    New to Real Estate · Tampa, FL · Member since 2018 · 10 posts · 7 votes
    6y

    I'm going to jump into this great conversation as well. I currently live in Tampa and have been wanting to invest in the Tampa/St Pete's area. However, it has been next to impossible to find something that's not a shack going for less then 250k. (Even the hovels are going for over 250k at times) At those prices, the numbers just don't add up. The ROI just isn't there. I've been running the numbers for a while now and unless I want to buy in a warzone (South St Petes, East Tampa, Sulphur Springs areas) or do a full gut renovation, its very difficult to find anything. I've started to expand my searches into more of the secondary/tertiary markets, such as Bradenton and some of the smaller towns around Lakeland. Anyone have some additional recommendations for secondary/tertiary markets?

    1Reply
  • Adam Poshka
    Realtor · Tampa Bay · Member since 2019 · 68 posts · 35 votes
    6y

     I am a big Fan of the growth in the Wesley Chapel area. I moved there 3 years ago and have seen tremendous growth!

    0Reply
  • Daniel A. Abreu
    Flipper/Rehabber · Tampa, FL · Member since 2018 · 56 posts · 16 votes
    6y

    @Lua Jambeiro

    Hi Lua,

    I’m an investor, realtor, and rep for a national title agency. I’m based out of Tampa. Hillsborough, Pinellas, and Pasco counties have great options for investing, no matter what your strategy may be. Feel free to DM, I’d love to help you grow your business on my side of the state.

    1Reply
  • Hillary Young
    Member since 2018 · 5 posts · 0 votes
    5y

    Would love to see what fellow investors are thinking in 2021.  We are wanting to buy a long term investment property in the central Florida area. Not sure if still possible to find deals in 2021 at places like Orlando, Tampa, Jax, while it already seemed impossible two years ago. Or just look for other places mentioned in this thread like Ocala, St Petes..

    Any information would be greatly appreciated.

    Lily

    0Reply
  • Julie Sisnroy
    Realtor · Papillion, NE · Member since 2013 · 134 posts · 59 votes
    5y

    I. too am interested in the market in Central FL, now in 2021. Long term buy and hold.  Appreciation.growth, and safe neighborhood more important than large cash flow. I am guessing Orlando does not make sense unless it is a tertiary market, which are...? Or Ocala/Lakeland/st cloud??

    1Reply
  • Faye Omar
    Lake Worth, FL · Member since 2017 · 37 posts · 9 votes
    5y

    Originally posted by @Jack Bobeck:

    Orlando and Miami are destination cities. They have strong tourism and will always be destinations people fly to, from around the world. Tampa and Jax are similar, they try and duplicate what Orlando and Miami offer, but are not quite the mass destination cities, UNLESS it is specialized. Lots of cruises go out of Tampa and Jax, you have more cities around Tampa (Clearwater, St. Pete, Sarasota) and its a destination for retirees down to Naples and Marco. Jax has great medical facilities (20% of local GDP) and is the #1 destination in FL for golfers. World Golf Village and PGA Tour located in the area. Flights between Atlanta and Jax are always full. Jax is also a great boating destination.

    In the August 10, 2018 Jax Business Journal, they ran on Page 3 a great infographic. 92.5% of homes in the Jacksonville market kept their value compare this to 56.4% in Miami. Jax is a steady market and with unemployment below 3% in the city, a strong market too. 

     Hi Jack! Thanks for sharing that insight regarding JAX.  I'm in the market for a flix/flip in Florida as well. Do you think JAX is a good market for that? 

    0Reply
  • Jack Bobeck
    Rental Property Investor · Jacksonville, FL · Member since 2008 · 784 posts · 528 votes
    5y

    @Faye Omar I think any market in FL is good for a fix and flip now. 

    0Reply
  • George Munoz
    Real Estate Agent · Fort Lauderdale, FL · Member since 2018 · 360 posts · 213 votes
    5y
    Originally posted by @Julie Sisnroy:

    I. too am interested in the market in Central FL, now in 2021. Long term buy and hold.  Appreciation.growth, and safe neighborhood more important than large cash flow. I am guessing Orlando does not make sense unless it is a tertiary market, which are...? Or Ocala/Lakeland/st cloud??

     Agree 100%

    0Reply
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