The 2019 Ocala Real Estate Market first quarter numbers are in! In February, we discussed why Ocala’s Economy is On Fire. In this post, we summarize the first quarter numbers for Marion County real estate and forecast where the market might be headed this year (spoiler alert - buyers and investors, you’re going to like what you read!).
First, there are plenty of reasons to invest in Florida real estate, overall, including the warm weather, natural beauty, and quality of life. Plus, there is no state income tax in this business-friendly state. Put all of that together, and Florida is an investable state, indeed—and, when you add in how real estate is more affordable here than in many other places in the United States, it makes sense for savvy investors to consider Florida real estate for their portfolios.
Narrowing it down further, we’ll provide an overview of three of the best cities to invest in Florida real estate, listing them in alphabetical order.
Investing in Ocala Real Estate
Ocala’s economic base is strongly grounded in the types of industries that tend to do well, even when the overall economy may be less stable than we’d like. This includes numerous major distribution centers that already exist and numerous transportation, trucking, and parts-related companies—with wages often in income tiers that make renting a good choice for employees.
If you’re wondering about COVID-19, and how that has affected people’s employment and ability to pay their rent, Ocala has not been completely immune. No place is. But we can say that, during a COVID-era month when nearly a third of renters across the country didn’t pay theirs, 92% of tenants on properties we manage paid their rent.
Investing in Orlando Real Estate
People have been moving into Orlando in some pretty big numbers. In fact, over the past seven years, this city’s population has grown by 227% when comparing it to other cities. Although some of these new residents will be buying their own homes, a good number of jobs in the city translate into incomes that makes renting more attractive.
In 2020, three-bedroom homes in good neighborhoods can be found for a little more than $150,000, which is a plus for real estate investors.
Investing in Tampa Real Estate
New job creation is also happening in Tampa, including maritime services and port-related employment, as well as manufacturing, business services and more. In 2018, the economic output for Tampa was nearly $150 billion.
Just as with the other cities listed in this post, more people are moving in than out, with many jobs paying the kinds of wages that make renting a smart choice. Homes haven’t yet been overpriced in ways that have happened in cities like Boston, New York, and so forth.
The Best Cities to Invest in Florida: A Clear Winner
Sure, we may be biased, but the numbers don’t lie. With the lowest unemployment, lowest home prices, and the highest yield, we think Ocala is the best city in Florida to invest in.
Everyone at Resolute Property Management is committed to providing valuable information, guidance, and professional services to Ocala real estate investors. As just one example, here’s information about one Ocala hot spot neighborhood, Marion Oaks, tailored for investors to that they can make the right choices for their portfolios—whether they want to have just one or two properties in theirs, or a large number of them.
We’re a dedicated Ocala property management company that goes above and beyond to help our clients. This includes keeping track of how COVID-19 is affecting real estate prices and demand, while also providing on-the-ground intel about new investment opportunities and evolving regulations (such as what the CDC eviction moratorium does and doesn’t mean). We also share ways you can protect your finances; for example, about how to avoid becoming a victim of rental scams.
We also assist people with making savvy real estate investments in Ocala—even if you don’t live or work in the area. You can let us know what types of properties you’re interested in acquiring and in what budget range, and we can do the scouting work for you, facilitating the process for busy investors.
Plus, we can audit your properties to help you determine the optimal monthly rent payments for each. It’s entirely possible that you’re currently leaving money on the table by not charging what the market can bear. We can also streamline property management for you, which includes filling vacancies efficiently—which reduces gaps without income and improves your overall cash flow and bottom line.
Here’s what one satisfied investor has to say about our services: “I’ve been with Resolute for several years managing our property and have been extremely happy with all aspects. They are very thorough in evaluating prospective tenants, and very responsive to our tenant’s needs, as well. From marketing the property to evaluating lease considerations to pricing the property to managing tenants, we have been impressed with the professionalism and happy with the results.” (Tom Stevens)
If this sounds like something that would make your life easier and help your real estate investing business run more smoothly, then the right property manager can make a world of difference.
If you’re looking at property management companies in Ocala, FL, schedule a free, no-pressure consultation call today. Our experienced team is here for you!