The Orlando Sentinel reports that Florida has 7 of the nation’s top 20 metro areas for single-family rental investments. Buying a Florida home and using it for long term rental is becoming an attractive option for many. During the last 18 months we have seen a growing increase in the number of investors buying property for long term rental. We help clients to find the property, refurbish and then place a tenant – a true one stop shop our clients.
Orlando comes in at number 13 of the 20 as the foreclosed homes in the area become viable for return on investment with long term rentals planned. This is the perfect time to invest in a single-family home in Orlando that can be rented long term, with a positive outlook for excellent returns. Bardell Real Estate can help match you with the perfect investment property – contact us with your requirements for a long term rental property in Orlando, Florida.
OCALA, Fla. – April 5, 2013 – Seven of Florida’s foreclosure-filled housing markets are among the nation’s Top 20 metro areas for single-family rental investments, according to a report.
Ocala was the top-ranked of the Florida metropolitan areas, ranking fourth nationally with a median sales price of $75,357 for a three-bedroom home and an average monthly rent of $1,070 on the same-size house, according to the report by real estate research firm RealtyTrac Inc.
The California-based company predicted cash flow by factoring capitalization rates, rental rates and home prices. Occupancy rates were not factored into the ranking.
The four-county Orlando metro area ranked 13th for best returns, with a median sales price of $108,000 on a three-bedroom home and an average rent of $1,316 on the same-size house.
“Buying single-family homes as rentals that actually generate good monthly cash flow has become more difficult over the past year as institutional investors crowded into the market, snapping up tens of thousands of properties in 2012 alone,” said Daren Blomquist, vice president of RealtyTrac. “But there are still opportunities for the more conservative, individual investor to buy rental homes that generate a healthy return on investment – it often just takes persistence and a willingness to pass on bad deals.”
Other Florida metro areas on the Top 20 list were: Brevard County, Jacksonville, Volusia County, Tampa-St. Petersburg, and Lakeland.
Leading the nationwide list was Memphis, Tenn., with a median price of $72,605 for a three-bedroom home and an average rent of $1,047 for a house of that same size.
Copyright © 2013 The Orlando Sentinel (Orlando, Fla.), Mary Shanklin.
Should you have any questions regarding long term rental properties in Florida, Bardell Real Estate has the answers. Contact us so we can match you with your Orlando specialist who will help match you with the perfect long term rental opportunity.
Long Term Rentals with Bardell Real Estate.