Boasting over 1300 miles of pristine beaches and sunny skies for the vast majority of the year, it’s far from surprising that the Florida real estate market is a prime destination for real estate investors—particularly those looking for top-performing rental properties. With the uptick in remote working due to COVID-19, the Sunshine State has seen an even greater increase in population, meaning there are plenty of new residents seeking both long- and short-term rental housing options. To help get you started, the Express Financial team has highlighted some of the best Florida markets to consider starting the search for your next rental investment property.
Considered the biggest international draw in all of Florida and home to some of the nation’s premier restaurants, beaches, retail locations and entertainment options, Miami beach is a world-renowned vacation destination that draws millions of visitors and new residents alike year after year. And the Miami Beach real estate scene definitely reflects its popularity. New construction is in full-swing in multiple sought-after neighborhoods featuring high-end finishes and amenities that are sure to attract high-paying tenants looking to be within walking distance of all Miami Beach has to offer. Snapping up a rental property here is a safe bet for a high return on investment and a sustainable stream of passive income year-round.
There are a ton of reasons why Orlando is a top city for real estate investors. Just to name a few: world-famous amusement parks like Disney World; reasonable cost of living compared to other urban areas; and impressive property appreciation rates—meaning your rental property will only increase in value as time passes. Orlando features a large population of more than 2.5 million and a booming local economy premised around a vibrant tourist market. This makes it an outstanding community for either raising a family or providing potential tenants a place to call home.
Just to the south of Orlando, Kissimmee long flew under the radar. That’s certainly not the case now—with average home values increasing over 5% last year alone. What’s more, the Kissimmee population has ballooned by more than 23% over the same timeframe, with new residents attracted to the area’s proximity to amusement parks and beaches as well as its affordable cost of living in such an ideally situated area. With these positive trends fully expected to continue for the foreseeable future, savvy real estate investors can still get in at a relatively low barrier of entry financially speaking and reap the rewards in the near future as this popular market continues to evolve in the right direction.
Jacksonville experienced a growth of approximately 11 percent over the past 10 years, and experts forecast another 50 percent population expansion over the next decade as well. The average home sale value is $235,000, which is a promising appreciation of nearly 14 percent since this time last year. A key plus of the Jacksonville market from a real estate investor’s perspective is that there are plenty of promising foreclosures that can be bought for up to a third under its listed value in the greater metro area—which is a great starting point to maximize your earning potential for a future rental property.
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Investing in a rental property is a great way to tap into a reliable passive revenue stream. The team at Express Capital Financing specializes in providing you with the money you need to get your rental up and running in a fraction of the time it takes for conventional banks to. We understand the unique issues associated with acquiring and maintaining rental properties and have developed innovative, fully customizable funding solutions to accommodate investors’ needs. Contact ustoday to learn more about how we can take your business to the next level!