With the volatile stock market and uncertain economy, it can be difficult at best to determine what to pursue when it comes to investment vehicles. But one thing is for sure – both urban and suburban growth in Central Florida’s real estate market has bounced back nicely since the Great Recession of 2008.
For instance, the Lakeland-Winter Haven area recently made it into Indeed’s Top 10 fastest growing metro areas for 2017–20181, based on population change – all ten of which were smaller to medium-sized areas in the South and West. The Villages, Florida, also made the cut, with a 3.1% increase in its residents during the same time frame.2
Lakeland-Winter Haven is particularly appealing due in large part to its affordability. This particular area, ideally situated between Orlando and Tampa, could eventually become an appealing mid-point between these two larger cities.
But even though the number of residents is growing at a nice pace, not everyone who is moving to these areas of the Sunshine State are looking to buy a home – at least not right away. Rather, a sizable number of new residents will opt to rent first, in order to check out their surroundings before making a large financial commitment. This is where investment property owners can score big.
But filling homes with renters can be time-consuming. So, if you prefer to focus more on finding profitable rental properties without being tied down to the day-to-day duties of managing tenants and maintaining your current units, it could be time to partner with a property manager.
An experienced local property management team can take on many of these tasks, such as finding and screening potential tenants, collecting monthly rent, and ensuring that repairs are done sooner rather than later.
Want more details on how a property manager could fit well into your overall real estate investment plan? If so, just give us a call today.