Florida has always been very popular with international property investors. When we think of Florida property investment we think of Orlando, Miami, Fort Lauderdale, Key West and Daytona.
Surprisingly the largest city in Florida does not spring to mind, not only is it the largest city in Florida but it is also the largest city in continental United States with over 840 square miles, it is larger than New York.
This city also has miles of golden beaches, the largest military base in the US, a booming economy, hundreds of bars and restaurants, championship golf courses, award winning stadiums, three huge shopping malls, one of the largest international airports in the US, some of the best colleges in the US, a large park system, multiple museums and theatres and the list goes on.
So what is this city called ? it is called Jacksonville and it is now predicted to be the hottest city for investment in 2017.
The reason for this is simple, many of the other cities in Florida are now seen as over priced, high prices and high rents make for low yields, whereas low prices and high rents make for high yields and this is what Jacksonville has to offer.
In Jacksonville a typical home will rent for 20.31% more than the average home nationally. The median home price is 23.75 less than the national median home price. This low price and high rent combination represents a cash-flow opportunity that you will not find in more than a handful of markets across the US.
With an extremely favourable rent/median home price ratio, it is possible for buy and hold investors to achieve superior rates on return.
So let’s take an example, an average single family home in Orlando will cost you around $100,000 and it will rent for between $750-$1,000 a month whereas and average house in Jacksonville will cost you around $60,000 and the rent will still be between $750-$1,000. Therefore this means your capital outlay is lower but your rental income is at the same level, therefore your yield is much higher.
Realtytrac one of the largest US property websites have summed it up very well “ Jacksonville is an excellent place for making money in the rental business”
Hit hard by the recession, Jacksonville real estate has since made huge strides forward and has caught the attention of just about everyone in the nation. Investcorp recently invested in Jacksonville, citing the city as one of the nation’s “highest growing markets in the US”
To be a strategic property investor you need to know what is the next investment hotspot, Jacksonville is the next hotspot and now is the time to invest before prices start moving in line with the rest of Florida.
Global Investments Incorporated have been selling in Jacksonville for over 12 months now and all of the properties we sell are refurbished and very well located, we also have a large supply of Section 8 properties where the rent is paid by the US Government.
If you would like to see the latest stock that Global has to offer in Jacksonville, please email.
mike@globalinvestmentsincorporated.com
