Tallahassee

Buying, renovating, and selling homes in the state capital of Tallahassee may give your investment business—and your bank account—a nice boost as well.

A record-breaking rate of low unemployment thanks to a better-than-average growth rate for jobs landed home affordability squarely in the hands of Tallahassee residents in 2019. But, the rate of local homeownership had already been on the rise for several years. And, it may continue to rise as job seekers keep moving to town to take advantage of Tallahassee’s growing reputation as Silicone Valley South—and the high earning potential that modern tech jobs bring with them.

Already, demand for the area is so strong that Tallahassee is considered a seller’s market. Median list prices are up by nine percent year-over-year, time on the market is down to less than 60 days, and sellers are getting the prices they want.
Though that may make it sound like it’s a tough market to break into as a real estate investor, your goal isn’t to buy single-family homes on the open market anyway—only to sell them there. So, provided you can buy properties off-market and keep your rehab costs in check, you should see your 2020 returns trend upward as well.

Lakeland Florida Investment Real Estate 

Unlike Gainesville Florida, the foreclosure rates in the Lakeland Florida area is higher than the national average, though pre-foreclosures are on the overall decline. Unfortunately, in the city itself, foreclosure filings are still high—foreclosures are running one in every 1,373 homes.

Of course, that doesn’t touch what the Lakeland area experienced during the housing crash. But, because unemployment is high which goes hand in hand with the cost of living being low at least compared to the Tampa markets to the west, it’s clear why some residents are having a hard time making ends meet. This as always creates buying opportunities.

In the Lakeland area market, seniors make up a fairly large segment of the city’s population who may be struggling with increased popularity of the Lakeland market. This increase in popularity causes housing prices to increase and gives you the ability to take advantage of the markets popularity as a retirement destination.

Because the demand for owning a home in Lakeland is on the rise, median home list prices are up as well—by 9.5% year-over-year. And, sellers are getting more than 98% of asking. So, chances are strong that, as long as you correctly calculate all of your numbers, the returns when you sell will trend upward, too.

A good investment strategy would be to reach the homeowners who are having trouble paying their bills and offer to purchase the property at a distressed price prior to the property being foreclosed or hitting the market.

Kissimmee Investment Opportunities

Yes, Orlando has topped a few lists in its time as one of the best places to buy rental property, but its small southwest neighbor, Kissimmee, should top your list as a great spot to buy, renovate, and sell or rent homes. With more renters in Kissimmee than homeowners it certainly does makes sense to add a few rentals to your investment portfolio—especially if you can secure a good cap rate. But, with the average home  prices moving upward year after year, you could also realize nice returns if you should decide to sell.

Either way, the number of people who want to rent or buy in Kissimmee should easily go up in 2020. The number of residence here grew more than 23% beween 2010 and 2018, according to the U.S. Census Bureau. That’s a whopping 10% higher than the population growth rate for the entire state.

And, since the relative cost of housing averages less than nearby Orlando, those that are on a fixed income, like retirees and veterans or families on a budget, will find Kissimmee good affordable option.

Housing Market Quick Facts

Tampa Florida Hillsboro County

Why is Tampa on our list of best places to buy real estate in 2020? To start with, the local economy is worth over $130 billion dollars and the metro area market has been ranked as one of the fastest growing markets in the country. Tampa continues to place a strong focus on job growth and companies such as financial services and healthcare are flocking here.

The Greater Tampa Bay area has created more than 34,300 new jobs in just 12 months, with a job growth rate 71% above the national average. There are more than 19 firms with annual revenues of more than $1 billion are headquartered in Tampa and it is home to four Fortune 500 companies. Tampa and the surrounding areas continue to be some of the best real estate markets in the country.