Orlando vs Lakeland vs Tampa vs Miami?

[Tyler D.]

Hi BP,

I'm an OOS investor with a goal to buy property in FL over the longer term. I don't need an immediate cashflow, and would prefer the area that has the best long-term returns as a combination of CF and rent growth/ appreciation.

Orlando, Tampa and Miami are all very popular right now, but I don't know much about them aside from numbers I've read online and where they are on a map. I'd like to know your opinion on which of these (if any) are the best.

I'm also looking at Lakeland, as its location in between Orlando and Tampa seems nice, and it could grow along with them. According to google maps, it's a 40/60min commute respectively, so I'm also interested if people commute from there.

[Shawn McCormick]

Hi @Tyler D. You can do well in any of those markets. Florida is growing at alarming speeds right now (for several years now and the future looks quite bright too). The bigger cities are getting scarce for land, so it is driving new construction pretty far out. That is making for good appreciation even in outlying areas. I am more familiar with Orlando, but Tampa generally has more inventory, especially in multi family.

I like the new construction path if you don't absolutely need cash flow. If you get in early in a community, the builder will set the prices in an upward motion for you, gaining equity by the time they are built out. That is just one strategy to consider since we are in such a competitive market and you won't have to worry about having to offer 'highest and best' against motivated buyers.

Reach out anytime and we can schedule a call to discuss your strategy and see if I can add some value. Good luck.