I am beginning down my path of full time investing. I am currently in Wisconsin, though mostly mobile anymore. I'm honed in on some markets, with Ocala / Marion County / I-75 corridor being one of them.
I'm ideally looking at 2-4 unit MF, BRRR-style, C+ neighborhood opportunities. I'm at the foundation level, and putting together the plan / teams. As I dig my heels into local recommendations, potential foreclosures, and other good cash flow opportunities, I'm hoping to hear what ya'll are seeing out there.
Are ya'll seeing good cash flow on MFs in the I-75 corridor? Or are the SFHs doing better?
The market is what the market is right now, but how is the overall saturation down that way? Any unique challenges anyone has run into? Think I'm crazy for targeting 1% on MFs in the location/market?
Looking forward to connecting!
Sorry just replying now, not on BP that often. Ocala is crazy tight right now. Builder are selling homes before ground is even broken. We have numerous investors building SFR to use as rentals. Not a lot comes on the market in the multi family space and if it does way over priced for the roi that i would want. Let me know if you have other questions.
If you plan on building, the current wait time to get a new well drilled is 2 months or more and most homes not in HOA areas are on wells and septic tanks. My realtor does build MF's at reasonable prices. PM me if you want her contact information. When I spoke to the manager of the new World Equestrian Center, they are filling their RV spots and people are looking for STR's and the hotel is also filling up - they are building a larger hotel at their recently purchased Ocala Jockey Club. There are very few SFH rentals available in the Ocala area and prices keep going up. Finding a place to buy at a reasonable price is almost impossible lately and anything that comes up is under contract the first day or two.