Real estate does not always equal investment. It can be a source of revenue and earning good money for many years. It is no surprise that real estate can be an excellent place to put your money if you are looking for an investment that will pay off quickly in the future.
There are many attractive factors for people looking for real estate in Florida. Recent statistics show that prices increased by 11% compared to 2017, which makes it even more appealing for the investor. Retirees from all over the world are retiring in Florida and purchasing a home or vacation properties there. Those who have already invested in real estate in Florida share their insights on why they made such investments and what to expect in 2022.
Everyone typically knows that real estate is a good investment. However, one of the rules of real estate is 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…
Why to Invest in Real Estate in Florida in 2022? So here we go…
- 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.
- 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.
- 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.
- 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.
- 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.
If you are thinking about investing in real estate in Florida, then now is the time to do it. It takes some work but it does pay off if you can afford 20% down payment to get a mortgage and be able to handle any repairs that come with being a landlord. The average price of homes in Florida is going up at a good rate every year also so buying a home in this state may be your best bet.