Orlando is not only a dream vacation destination for many, it is fast becoming THE place to invest in real estate. This “Beautiful City” has been ranked the third best investment location in the nation by Forbes magazine, making it an attractive place to both put down roots and begin a profitable real estate investment career. Just what is it that makes Orlando a very appealing place to be?
Growth And Expansion
Orlando boasts the fastest population growth in the last five years, with the total population of the city jumping 7.3 percent! With over 3.3 million residents and growing, it is a veritable hotbed of real estate opportunity. Known for its beautiful scenery, premium tourist attractions, and sandy beaches, it has a little something for people of all ages, making it a very attractive place to live. With over 35 million tourists visiting this area each year as well, business economy is stable and well established, making it ideal for either commercial or residential investments.
Booming Economy
Did we say business is booming? It is BOOMING! The flourishing economy is actually the cornerstone for the real estate market in this area, for it is an ideal place to land a job, no matter what your field of expertise may be. In the last year alone, employment rates for Orlando rose by 4.6 percent, with unemployment numbers falling to 4.5 percent, which is far lower than the national average.
Due to the large number of tourists that visit Orlando and its surrounding area each year, the demand for qualified staff to fill positions linked to tourist attractions is at an all-time high. Disney World alone attracts over 61.2 million people from around the world each year; one can imagine the number of employees that must be staffed there at all times to attend to park utilities and guest satisfaction. Those employees must live somewhere–why not provide them the opportunity to rent or purchase from you as they build their livelihood down in Orlando?
With a healthy economy comes increased home and property values. Investors that choose to put money in multi-tenant housing are almost guaranteed positive cash flow each month, as the favorable job situation allows tenants to consistently pay their rent. With the stability of the economy comes the opportunity to raise rents as well, further increasing the amount of cash that is coming to you each month.
Appreciation And Property Value
All factors in and around Orlando point to appreciation of property values. In one year alone, the standard increase in value for properties both commercial and residential was almost 5 percent. Within three years, that percentage soared to almost 40 percent! Appreciation is one of the biggest reasons that people choose to invest in real estate, but many factors must be taken into consideration when considering the long-term benefits of attaining properties in a certain area. Now that’s some serious ROI, or Return On Investment! With numbers like this on the books, it’s hard to turn down any investment opportunity near Orlando that may come your way.
When Will You Start Investing In Your Future?
Orlando has a tradition of continuing to welcome real estate investors, as people flock to this area both as long-term residents and short-term tourists. Given the different reasons that people choose to visit and live here, it opens up a number of opportunities for investors to dabble in permanent or temporary housing, new homes Orlando or established businesses, residential or commercial properties. The increasing population contributes to the growth of the local economy and the booming job market, making it very clear as to why Orlando is one of the best places to begin a profitable career in real estate investment.