Florida locations to invest in

[Robert Kirkley]

Hey there everyone!

I am currently looking into growing a rental property portfolio and I have been looking into a few markets. I was wondering if anyone could add their 2 cents in about buying rentals in Eustis, Mount Dora, Jacksonville, Oviedo, Deland and Lakeland. My plan is to purchase a MFH to house hack, but I may also look at SFH to either do a BRRRR strategy or house hack while renting out an extra room.

I am still learning on how to find good deals, but I would love to hear what any of you think about any of these areas specifically.  I am currently located in Orlando, but I have heard the markets I had mentioned above are better for investing.  Your advice and any information you may add is greatly appreciated, thank you!  Have a great day!

[Russell Holmes]

@Robert Kirkley yes the final leg of the Wekiva Parkway from SR46 in Mt. Dora out East to I-4 near the 417 is the final "leg" to complete the loop.

In approximately 2002 the 429 opened connecting I-4 south of Disney up to 441 in Apopka, crossing the turnpike and 408 toll in the process.

In 2009ish the 414 Toll was opened to connect the employment hub of Maitland Blvd Corridor, packed with large office buildings, to 429 just south of Apopka. FL Hospital, now called Advent Health, bought land near that hub and opened a $207million new campus in 2017 to replace a smaller older facility elsewhere in Apopka.

Then over the last 18 months the 429 toll has been completed up north to SR46 in Mt Dora with a leg called the 453 splitting further West to 46 (with talks of that one eventually continuing into Umatilla and Ocala). The newest exits at Kelly Park Rd and both onto SR 46 dump out near vast parcels of undeveloped land. Much of the land immediately around the exits has been owned by the same people who facilitated and shaped it's path, so they've had a hand in the Future Land Use zoning that has made some commercial parcels hit $1,000,000/acre while residential is still closer to $20-30k/acre.

Since 1990 Apopka has grown from 20,000 people to well over 50,000 while other nearby towns such as Altamonte Springs have nearly stagnated (once as desirable as Apopka now is). We are still missing a few key details to be a thriving sub-economy like Lake Nona or Oviedo. We need A class office space (leased out of course), we need employers to take note and more to move here. Currently most highly paid people leave Apopka for work. However with Maitland, the UCF/Research Triangle area and Orlando running out of land, it is only a matter of time before the first A-class office building comes and it explodes. Having a second brand new hospital coming will be an additional boost to medical fields.

Back in the mid-90s my brother and I used to ride our dirt bikes in the vacant fields along Maitland Blvd where EA Games, Orlando Magic RDV sportsplex and other mass commerce stand today. I don't think anything will stop Orlando's sprawl headed Northwest and I've watched it for decades.