Ocala Florida?

General Real Estate Investing
1

Hope everyone is doing Great!

Wanted to know if anyone has any real insight on the Ocala FL new home investment market?

Pass? Play? Feedback?

???

2

Here’s the local REIA for the area. They will know.
http://finance.groups.yahoo.com/group/gatorreia/

3

according to my uncle who lives about an hour south of there, he says it’s an older community, but very nice. it’s located in central/northern florida - good.

i almost purchased vacant land from an older couple there. they were selling 4 acres zoned residential/commercial with 80 ft frontage on route 25 there. their ad ran on a thursday and it was under contract by that Sunday (four days). silly me, being a stupid noob, i thew out their number, making follow/up impossible.

that was a total steal. the person buying it probably turned around and sold it for 100k. oh well. the noobness prevented me from just hammering that one down on the day i called them (i called them the day it ran and the kicker is, the owners only lived 2 towns away from me in New York.).

: (

4

Ocala, is quickly becoming the Retirement Capital of Florida. 2 major developments underway that will be adding approximately 50,000 new homes (lots of competition). No major empoyers out there other than Healthcare and Lockhead Martin has a small facility. I know at least 10 people that have made “investment/purchases” in Ocala in the last 18 months. I feel Ocala, along with the rest of Florida, is really overheated and you are probably about 18-24 months behind on a great deal. If you like the long-term dynamics of a retirement town and still think it is a good buy, wait until you price out your property tax bill and good luck finding reasonably priced insurance. I would Pass… Just my opinion.

Good luck

5

I live 20 minutes from Ocala. Very nice up and coming retirement “City”. Good prices to compared to alot of other Fl area.
Your right about taxes and insurance though they are out of control here. The taxes and ins. made what was once a nice little rental cash flow for me into a loser :cry:

6

Thank you so much, very good and succint advice.

Much appreciated! ;D