When you are looking for a home for yourself and your family, you look for a beautiful home that fits your family well, has a good neighborhood, and has easy access to all basic amenities. If all these are at a negotiable price, you can close the deal.
However, when you are looking for properties as investments, you need to carefully study the past and future market trends and other external factors that can influence your decision.
If you are looking to invest in homes in the townhome community in Lakeland, Cobblestone Landing Lakeland FL is a very large community with many affordable investment opportunities. You can get in touch with Wendy Morris Realty, a Lakeland Luxury Real Estate agency that can ease out the process of finding homes for investments and negotiating a deal on your behalf. They have spent 18 years in the niche market and have a unique network of buyers and sellers.
What makes Lakeland attractive for real estate investors?
The top-most reasons that make real estate in Lakeland a profitable venture are:
- The prime location of the city:
- Located on Interstate 4 allows easy expansion of the city mostly because expansion cannot happen on the western front of Tampa.
- Also, the beachfront properties are very expensive.
- Therefore, Lakeland offers huge opportunities for expansion owing to its location.
- Also, property prices are very high in Orlando, so many people prefer to stay in Lakeland and commute every day for work.
2. Demand outrunning the supply:
- Despite continuous constructions, the supply fails to meet the demand often here.
- This is why expected sales growth is seeing a continuous rise from 5 to 7%.
3. Affordability factor:
- Not every investor needs to be super-rich to invest in properties for increasing their cash flow.
- The median prices in Lakeland are much cheaper than its adjoining area making it affordable for many.
4. High demand for rental homes:
- Being a large city at a commutable distance between Orlando and Tampa, Lakeland attracts many students and the workforce to opt for rentals here.
- Also, the rental rules in the city are quite flexible and the landlords are quite friendly, making it even easier to get a rental property in Lakeland.
5. High job growth:
- The expected job growth in the next decade for Lakeland is 42% which is way above the national average.
- As more employment opportunities are created in the city and the neighboring expensive city of Orlando, people will look up housing properties in Lakeland which will drive up the real estate market locally.
Apart from this, the property tax rates in Lakeland are very low and there is no income tax. Therefore, you end up paying much lower for housing in Lakeland than in other expensive cities. Residential properties are the easiest way to start investing in the real estate industry and making a lifelong cash flow for you.
Lakeland offers many opportunities for young and new investors who plan to retire early in life by creating a steady source of passive income for them.