Ocala Rental Investment OOS

[Joydeep Samanta]

Hi - I am based in NJ and am looking for OOS investment at Ocala, FL and surroundings. My investment objective is to start with buying a new construction property not more than $200K and to obtain an appreciation of 50% - 75% appreciation by 2030 (my Exit Strategy). As a near-term strategy, I am looking for ROI of 5-10% from rental income.

While browsing I have realized there is a lot of buzz around Ocala and its suburbs. So, I would like to understand -

1. Good neighborhoods in Ocala and suburbs, since it's a vast area

2. Feasible areas to invest given the above-mentioned budget

3. The areas are in process of development i.e. infrastructure is expected to be in place by a year

4. Current new construction development going in the area

5. Job opportunities and average income per household

6. Average rent and turnaround time to find a new one

7. Challenges of getting Construction loan

[Marelyn Valdes]

Check out the new World Equestrian Center - huge and still growing and has a large residential area (very expensive).  There are numerous distribution centers north of HWY 27 next to the interstate (Fed Ex, Autozone, Chewy, Amazon, and a new one being built).  There is a lack of rental housing (and over a 6 month backlog of new homes at Top of the World - 55+) and The Villages is always expanding (also 55+ community). I personally do not buy in Marion Oaks, The Shores, or the Ocala National Forest areas.  I have lived in Ocala since 2003 and still don't know the small pockets that are good in those neighborhoods.  

I just purchased a 2/2 older mobile home in Ocala Estates for $50,000 on 2 lots that I am rehabbing and expect to rent for $950 a month.  There seems to be a lot of new construction in that area and 1/4 acre lots are still inexpensive.  Roads are paved and high speed internet is available.  You might be able to buy a double lot and build a duplex for $200,000.   If you are interested in a new duplex, my realtor works with a contractor that specialized in duplexes, so feel free to message me.

 I also stay out of the city limits since there is less regulation and taxes are lower. There are several new developments (luxury apartments over retail) going in downtown.  It's a historical area, so a great place to live, but a lot of regulations.