If you’ve been considering dipping your toe into the Central Florida rental real estate market, right now could be the perfect time to take action. That’s because a recent study has named Orlando as the third best real estate investment location in the United States. (1)
There are actually several reasons for this, such as:
- The area’s booming economy. Throughout the past several years, the job market in Orlando has been increasing exponentially. With an unemployment rate of just 4.5%, this city has a much lower jobless rate than the U.S. as a whole. The flourishing economy in Central Florida is a key catalyst for the growing housing market, as people coming into the area need a place to live.
- Orlando’s ever-growing population. Due in large part to the increase in job opportunities, there are many people migrating to Central Florida for reasons other than to see Mickey Mouse. And many of these people intend to stay in the Orlando area permanently. This, in turn, has caused the real estate rental market to rise significantly.
- Steady appreciation of property. In addition to the plethora of real estate rental opportunities, the property values across the state of Florida, and in Orlando in particular, have been steadily increasing.
If you are new to rental real estate, you may find that you’ll need to dedicate a fair amount of time finding and managing tenants, collecting rent, and fixing and maintaining homes and / or units. The good news is, though, that you can easily delegate these tasks to a property manager.
Want to know more about how you can free up your time, while still benefiting from the cash flow and appreciation of your rental properties? If so, just give us a call today.