Why Florida is Ripe for Investment
As much as I love Tampa, Jacksonville, and Orlando for building a house flipping career, they aren’t the only Florida cities that are ripe for investment. In fact, the state as a whole is on an upswing and has been for the better half of ten years, making a few notable top ten lists for real estate investment along the way. And, the numbers point to why. More closed sales of single-family homes were reported in the fourth quarter of 2018 than the year before and median home sales prices climbed again, for the sixth year in a row, during the same time. Houses have been selling quickly, too—in about 40 days, or 7% faster than just over a year ago.
These trends are expected to continue despite rumors of a recession. Why? Well, traditionally, home prices are not as adversely affected by economic dips as they were in 2008—that was more of an exception than the rule. And, at 6%, Florida is actually now less at risk of experiencing a market decline during a recession than the national historic average, according to the Florida Association of Realtors. Much of the state is still underbuilt, demand remains high, and both buyers and lenders are more careful with their funds than ever. That doesn’t mean you should necessarily throw caution into the wind, however, since there will always be risks to investing in residential property. But, it does mean that, if you know how to successfully flip houses, you can do it with confidence here in Florida.
To Justin’s credit, researching how, where, and why he should buy investment property in Florida to flip means he’s already off to a great start. It’s even better that he approached me for help. As eager as I was to learn when I started my investing career, had it not been for the support and guidance I received from more experienced investors, putting my education into action might have come up short. Instead, I was able to turn my passion for flipping houses into a good business in a relatively short amount of time. With the right team, it’s possible for you to do that, too—starting now.