Seasoned investors typically don’t need their arms twisted in order to jump on a real estate investment opportunity in Florida. That’s because the laundry list of benefits speaks for themselves: a consistently growing population, world-class tourist attractions, and unbeatable climate are just a few of the reasons why the Sunshine State is such a hot market for investors of all types. But just in case you need a reminder, here is a quick refresher on why your next fix and flip investment should be focused on in the Florida market.
When you’re contemplating the future viability of an investment rental property or planning to re-sell a renovated property, you have one primary concern: will you be able to reliably and consistently rent it out or sell it for profit year-round at a rate that nets you a favorable return on investment? You’d be hard-pressed to find another place on earth that’s more in demand than Florida. If you’re targeting seasonal renters, you can always rely on ‘snowbirds’ from the north moving to Florida for their yearly respite from the cold winter months. Additionally, you can anticipate that scores of families will be visiting during their spring and summer breaks—especially as travel restrictions continue to relax. If your focus is more on short-term rentals, you can rest assured that higher rental rates during peak seasons will offset any dips during off-season vacancies. Still, for the foreseeable future, you can expect minimal vacancies regardless of the time of year in Florida, especially after over a year of being homebound, restless travelers will be eager to travel to the premier Florida attractions once again—which is welcome news to savvy real estate investors.
Florida is ideally suited for long-term real estate investment strategies—particularly aspiring fix and flip investors. Employees from all over are migrating here for the vibrant economic conditions and ample professional opportunities. Over 150 major international corporations call Orlando alone home. The unique and attractive mix of pro-business and pro-development legislation and policies are a big draw for these major employers, making the state the ideal location for workers seeking high-paying jobs. The major Florida metro areas are steadily incorporating STEM positions that promise to be a major attraction for young professionals. Cities like Tampa and Orlando are quickly transforming into globally recognized industrial and technology hubs with exponential job growth projected well into the future. Jobs are also consistently being added in the agricultural, aerospace and financial service industries. Real estate investors can rely on a steady increase of upwardly mobile tenants seeking a range of housing options. What’s more, in the COVID-19 economy, jobs don’t even have to be physically located in Florida to draw transplants from all corners of the country. As corporations and remote teleworkers increasingly realize how efficient and profit-preserving working from home can be, employees have more flexibility when it comes to deciding where they can live. Florida offers sandy beaches, a wide range of amenities and a vibrant social scene—all huge draws for relocating professionals.
If you’ve been looking into potential locations for your next fix and flip investment project, you probably are already aware that Florida is one of the few states in the entire country that does not have a personal income tax. That key factor attracted tons of companies with employees who greatly appreciate the lower cost of living. From an investor’s perspective, that means potential homebuyers will have increased buying power and may be more willing to purchase or rent out a renovated property at a competitive price. This applies to young professionals looking to maximize their earning potential and seniors that view the idyllic settings of Florida as a well-earned reward for decades of hard work. Fix and flip investors can cater their properties to provide flexible and attractive housing options in a market that is showing no signs of slowing down.
Why Florida is Primed for Fix and Flip Success | Gauntlet Funding – Melville, NY