The wife and I are looking to buy a BRRR down in Florida... We really enjoy the villages, but are wondering if anybody knows of any other hot rental market areas. Crystal river's? Homosassa? where do you think we could get most bang for our buck? Thank you in advance.
@Charles Ladner I have seen a bunch of talk about the Space coast. There have been some big moves by tech companies there and the prices are still relatively low. I am a realtor here in Central Florida so if you need any help don't hesitate to reach out.
@Charles Ladner pga community in Port Saint Lucie. Great neighborhoods and great variety.
@Charles Ladner crystal river and Homosassa you can find some great rentals. And seasonal rentals can do very well there during scallop season/manatee season.
"Hot rental market areas" are generally found in larger metropolitan areas where universities, employment is growing, companies are relocating into the market. The markets also command a higher investment to acquire properties. Retirement areas may have solid rental demand but they generally have lower rental prices. "Hot rental market" depends on your investment, your desired return, and market demand. The area you've referenced currently has 308 properties available for rent - not including apartment complexes. That sounds saturated to me...not "hot." The hotel industry is powerful here in Florida and it has squashed "AirBnb" in many vacation markets leaving investors with mediocre returns and a lot of vacancy. Do your homework...before talking to a realtor/broker who will be more than happy to have "hot" exist in their market. Google rentals in a specific city and determine what is the average rental price range and the inventory level. Then you'll be ready to work with a realtor/broker (at no cost to you as a buyer) to find the right property, in the right market, at the right price. But do it now. A great time to buy is now during slow season - but to attract the best tenants, you'll want to be ready for snowbirds, students, incoming executives - and they're coming in now.
Do the work. Reap the rewards. Boring to say - but it just is the truth.
I service the Citrus County area. I'd love to help find rentals for you!