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When choosing a market for your rental properties, there are many things you should look for. For example, property appreciation and population growth are a couple. One of the hottest markets for turnkey real estate investing is Jacksonville, Florida.
Here is some great news Jacksonville real estate investors can get excited about.
Thriving Cities Have Great Downtowns
Jacksonville has put a renewed focus on improving downtown and we’re very excited for new CEO for the Downtown Investment Authority, Lori Boyer. Lori was selected from a very qualified pool of candidates and she brings a lot of experience, vision and goals to Jacksonville to spur growth and economic development downtown.
The goal for downtown is density. The target is 10,000 residents living in downtown Jacksonville. Studies of thriving downtowns in other parts of the country have shown that this is the number of residents to support businesses like grocery stores, bars and restaurants as well as new housing opportunities. When there is an active community of this size downtown, it often attracts developers and new housing growth. With this comes increased rental prices, which is an important so that future development will continue to occur absent of the need of city incentives.
Want to learn more about investing in rental properties passively?
Watch our free webclass and discover the 3 keys that every investor should know before they make their first rental property investment. If you have any questions or if you would like to speak with a member of our team, please fill out the form or give our office a call at (904) 677-6777.