Everyone typically knows that real estate is a good investment. However, one of the rules of real estate is location, location, location. So how do you really know where to invest? You might be wondering if this is the year to start or continue investing in real estate.

You might have planned on purchasing property last year, and ended up delaying your plans because of Covid…

Is now the time to make a move?

There are a number of reasons why you might want to consider moving forward with your real estate investment.

We are going to look specifically at multi-family investments in Florida…

 

 

So here we go… starting with number one.

 

  1. A lot of people are moving into apartments. The pandemic resulted in a lot of people losing their incomes either temporarily or permanently, switching, jobs, or relocating after switching to working from home. As a result, there has been an influx of tenants into apartments in some locations. Some of these are people who simply moved from one city or state to another, while others may have downsized from a house. Regardless, many of these people will stay in their apartments going forward—and some people are still moving into apartments because of pandemic-related reasons.
  2. Rents have remained surprisingly steady. It is true that unemployment rates have climbed in Florida (and most the US). But that doesn’t mean you will necessarily be collecting lower rents. Multi-family units continued to produce steady rent income through the pandemic. That is pretty impressive, and should alleviate concerns you might have about what to expect moving forward.
  3. Florida has a history of rebounding nicely from economic distress. Following the recession, Florida did a great job of bouncing back. The resilience of the state in comparison to many others makes it an attractive spot to invest in real estate in uncertain times.
  4. People are still flocking to Florida to live and work. Finally, new residents are relocating to Florida in droves, and all are looking for places to live, many of them hoping to move into multi-family units. By investing in a multi-family property now, you can position yourself to profit from that expected influx of new residents over the years ahead.
  5. Multi-Family Real Estate is a tangible asset. This might seem like a no-brainer, however, if you invest in real estate, you have a tangible asset. Values may increase and decrease throughout the years – there’s no guarantee they will not fall, but tangible assets are worth something. You still have a piece of property you can sell when the times come to exit the investment.