As rental rates in Orlando soar, a new report from landlord-software TurboTenant is touting Orlando as the No. 1 place in Florida to buy profitable rental property.
The report says Orlando is followed by Jacksonville, Tampa and St. Petersburg as the most lucrative area in which to snag real estate and hike up monthly rental fees. Orlando made the list due to the city's rapidly growing population and increases in home values.

The company provides resources for landlords like tenant screening, and combined data from sources such as Zillow's Buyer-Seller Index and AreaVibes' Livability Score with their own data to determine that Orlando is the best place for renters to make a profit.
"If you are looking to enter the real estate market or expand your portfolio, we have the data to help you make the best decision," the report promises.

Orlando is currently facing an affordable housing crisis worse than cities like Las Vegas and Los Angeles, with a paltry average of 13 affordable rental properties for every 100 low-income renter households in need.

We reported in March this year that a report released by the National Low Income Housing Coalition actually lists the Orlando-Kissimmee-Sanford area as the worst among the 50 largest metropolitan areas in the country when it comes to affordable housing.

TurboTenant's report this month focuses on Florida, the third most populous state in the U.S. As of July 2019, the statistics on buying rental property in Orlando show that population growth went up by 4.8 percent, and employment growth increased by 3.5 percent. Home values have also increased by 10.7 percent, with the median sale price being $254,000, according to the report. On average, rental properties get 34 leads and stay on the market for 19 days.

With stats like these, it's no wonder Orlando is a goldmine for profit-seeking landlords.

These days, it seems like just about everyone is either getting into the real estate game or wistfully dreaming about it. The popularity of HGTV has made many folks believe they can pocket some serious cash renovating an old home and then reselling or renting it out for sweet, sweet profits. Easy!
But then there's a pesky little thing we call "reality." To truly make bank in the housing investment game, you need to pick your markets carefully—especially since profits just about everywhere are being squeezed by high home prices, a shortage of affordable older places for sale, and cutthroat competition from legions of buyers and fellow investors.

"Most of these midsized cities have strong job growth and lower home prices and a more relaxed lifestyle attracting millennials," says Senior Economist George Ratiu of realtor.com.
Real estate investors purchased 7.7% of all homes in the second quarter of this year—a slight 0.6% bump from a year ago, according to a realtor.com analysis. (In June, about 3.7% of all home sales were flips.) Overall, that's the most speculation the market has seen since the nation was still clawing its way out of the Great Recession in 2013.
"The return remains attractive," says Ratiu. Flippers raked in a typical profit of $62,700—not including the money they poured into fixing up the property—in the second quarter of 2019, according to real estate information firm ATTOM Data Solutions. That typically translates to profits between 20% and 33% of the home's value after repairs.
Our rankings looked at the number of investment home sales in the 100 largest metropolitan areas, which include the main city and surrounding towns and cities. We defined these purchases as ones with a corporate or nonindividual's name on the deed (investors often buy property under company names; this does leave out some mom and pop investors). We also included flips, which were defined as homes that were sold and then resold within 12 months for a profit.
OK? Ready, set, flip!

1. St. Louis, MO

Median home sale price: $189,900
Percentage of investment property sales: 18.8%

The St. Louis area's abundance of older, lower-priced homes in need of an update, many to the north of the city, have made it an appealing destination for both flippers and landlords.

"Twenty years ago, [real estate investors] were all locals," says broker and landlord Dennis Norman of MORE Realtors. Now, "we have a lot of investors from California, from Colorado, and even international investors."
Flipping is more common in homes in the $175,000-plus range, while many of those listed for $125,000 and less are being turned into rentals, says Norman.

Landlords tend to look for lower-end properties in the northern part of St. Louis County, particularly Ferguson, MO, known for the 2014 riots; Hazelwood, MO; and Glasgow Village, MO.

Folks can scoop up two- or three-bedroom homes built in the 1950s and 1960s in these lower-income communities starting as low as $15,000 to $20,000 for a bank-owned fixer-upper. Investors will often sink another $15,000 to $20,000 into them to bring these homes, some of which were abandoned, up to city code. That can include replacing plumbing, electrical, heating, and cooling systems, and even installing  a new roof in some cases.

Landlords can pick up a move-in ready, single-family rental in the $30,000 range and lease it out to Section 8 tenants for $750 to $800 a month, says Norman. But maintenance costs can be high in these older homes, and tenant turnover is high.

2. Birmingham, AL

Median home sale price: $190,000
Percentage of investment property sales: 17.3%

Real estate investment is boffo in Birmingham, thanks to the affordable housing stock (although that ready supply is rapidly dwindling), above-average appreciation, and brisk sales. But unlike St. Louis, this market is mainly all about locals trying to make a few bucks.

"Birmingham is one of those markets that’s not really on the radar for those big multinational companies" or real estate investment trusts, says real estate and finance professor Alan Tidwell of the University of Alabama, in Tuscaloosa.

But with home price appreciation shooting up, it's profitable for flippers.

Many investors are zeroing in on towns and smaller cities not far from Birmingham's business district, such as Homewood and Mountain Brook. Hoover, which is farther out but near the interstate, has also become a popular destination.

“They have very good school districts and low crime and short commutes to downtown Birmingham where the jobs are," says Tidwell.

Handy buyers can score this three-bedroom, 1.5-bathroom brick ranch for $100,000—if they're ready to get their hands dirty with some renos, that is.

3. Miami, FL

Median home sale price: $299,900
Percentage of investment property sales: 17%

Having the words "home flippers" and "Miami" in the same sentence is bound to give some folks Great Recession PTSD. Speculation in South Florida was rampant leading up to the housing bubble and subsequent crash.

Guess what? Investor activity in the Magic City is ticking up again, rising about 1.3% over the past year, according to the realtor.com analysis. (Relax, we're not seeing a ton of subprime mortgages this time around.) And the new investor boom is just the beginning, says Southern Florida real estate analyst Jack McCabe.

While many of the big financial companies, hedge funds, and other institutional investors left the market over the past few years as dirt-cheap foreclosures and short sales dried up, mom and pop investors have emerged to pick up the slack, he says. And they're increasingly looking to the single-family homes to flip.

"We're on the verge of the next big wave of flipping," says McCabe. "They're able to make some nice profits [on single-family homes] because prices have shot up so high."

Meanwhile, builders went a bit overboard putting up scores of new condo developments in the Miami area. So prices on the new construction, as well as the older buildings, are falling. This 400-square-foot studio in South Beach, just a few blocks from Ocean Drive, is listed for $129,000. Airbnb, anyone?

4. Tampa, FL

Median home sale price: $230,000
Percentage of investment property sales: 16%

It's no mystery why Tampa is popular with investors. The smaller, waterfront city sits boasts great weather, plenty of gigs, no state income tax, and—wait for it—reasonable home prices and costs of living. Take that, pricey Southern Florida!

This may explain why the Greater Tampa area has the third-highest percentage of home flips of all of the metros on our list, making up about 16.5% of home sales in the metro.

Those looking for a fixer-upper may want to consider this three-bedroom, one-bathroom foreclosure going for $84,900. The century-old bungalow has a fenced-in backyard and is near downtown Tampa and major roadways.

5. Memphis, TN

Median home sale price: $206,300
Percentage of investment property sales: 16.1%

In the past few years, Memphis has become known as "flip central" to investors. The area's older, lower-priced homes for sale and strong rental market are like a siren song to investors hailing from across the U.S.

"We have a lot of demand for good houses," says flipper and real estate agent Pablo Pereyra, of Casa America Realty. "You can buy a beat-up, old place, fix it up, and the demand is there."

He and his partners recently purchased a three-bedroom, two-bathroom house in Central Gardens, a historic Memphis neighborhood, for $172,000. They plan to sink about $30,000 to $35,000 in the home by updating it and adding a half-bathroom. When it's done, they plan to list it between $265,000 and $300,000.

But it's becoming harder to be a flipper in Memphis as more buyers are competing for a limited number of ultracheap homes, says Pereyra. That's an impediment to local, mom and pop investors who are increasingly getting into the game.

6. Las Vegas, NV

Median home sale price: $301,800
Percentage of investment property sales: 15.7%

Flippers are omnipresent in Sin City and its surroundings once again, scooping up the area's lower-priced homes. That's why prices are shooting up 16% year over year.

"We have investors who are not doing as well in other places deciding to come here—it's greener pastures," says real estate agent and property manager Bryan Kyle, of First Serve Realty in Las Vegas. He and his wife own about a dozen single-family, rental homes.

As the foreclosures and short sales have largely dried up, many folks in search of a deal make lowball offers a bit farther out in the Las Vegas Valley and Henderson, NV. Anything built before 1990 is considered an "antique," Kyle says. Therefore it's prime for a flip.

And when it comes to flipping, "there's still plenty of meat on the bone," he adds.

There are also lots of rental opportunities. The city is filled with reasonably priced condos, townhomes, and single-family homes, especially when compared with nearby California. Buyers can scoop up one-bedroom condos with walk-in closets in gated communities offering clubhouses and pools, like this one-bedroom with a private patio priced at $110,000, and rent them out.
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7. Phoenix, AZ

Median home sale price: $275,800
Percentage of investment property sales: 15.1%

Phoenix is known for its glorious, dry heat and sprawling retirement communities. Less known, however, is the metro's leading role in home flipping. About 19.5% of all sales are flips, up 4.5% from the same period a year earlier—the largest percentage of any of the metros in our top 10.

Home prices here shot up 11% over the past year. That's good news for investors who buy up the many single-story houses in neutral colors on the market that plan to relist within six months to a year.

Phoenix is experiencing some of the fastest-growing rent increases in the nation as well, according to Apartment List. Rents increased 3.8% annually, to $1,090 for a two-bedroom as of Oct. 1. To put that into perspective, the national increase was just 1.4%.

Investment properties are a bit pricier in this retirement hot spot, but bargains can be found, including this three-bedroom, two-bathroom house with a two-car garage for $185,000.

8. Orlando, FL

Median home sale price: $260,300
Percentage of investment property sales: 15.1%

Single-family rehabs have been "the bread and butter" for the flipper set in Orlando, says real estate broker John Murdock, of JMO Real Estate Group, in Winter Park, FL. But folks are also sinking money into duplexes, triplexes, quadplexes, all the way up to massive apartment complexes. He's seen more flipping than rentals in the market, although there are those who renovate homes to rent them out.

Murdock would know. He primarily works with Orlando-area investors and has worked on about 1,000 flips in the Orlando area over the past decade.

"The last three or four years has been all about investors," Murdock says. These days mom and pop investors are competing with hedge funds, foreign investors from places like China and South America, and real estate investment trusts.

Investors are on the prowl for anything under $150,000, built from the early 1990s to 2007 or so—which are getting harder to find as the market heats up.

"Most of the time it’s going to be an older house that’s been neglected heavily, possibly abandoned," Murdock says. "It’s going to require changing the layout.”

He'll generally spend $30 to $35 a square foot to do a full-home renovation. "We're all fighting for the same properties," Murdock says.

9. Columbus, OH

Median home sale price: $223,000
Percentage of investment property sales: 13.8%

Like many of the other metros on this list, Columbus' affordable home prices, strong price appreciation, and stable economy have made it appealing to real estate investors.

The Ohio state capital was cushioned a bit from the past recession due to its many good government jobs and Ohio State University with its 68,000 students. All of those students, professors, and other workers need places to live!

That may explain why it had the fifth-hottest real estate market in the nation in August, according to a realtor.com analysis.

The city is filled with single-family homes under $100,000 that can be updated—or not—and flipped or rented out. This three-bedroom, one-bathroom house on a large lot is listed at $79,900.

Despite all the real estate action, the city isn't on the radar of most Americans "because we're in a flyover state and we're modest about what we do," says Mary Beth McCormick, executive director of the Center for Real Estate at Ohio State University.

10. Philadelphia, PA

Median home sale price: $275,000
Percentage of investment property sales: 13.6%

The Philly real estate market is heating up both for those searching for their forever homes and those looking for their next big way to make a buck. The number of investment sales jumped 2.2% from the previous year.

Investors are seeking out the area's many lower-priced homes, with price tags that appear positively modest when compared with other big, expensive Northeastern cities such as New York City and Boston.

But don't kid yourself that successful flips are a walk in the park here. Philadelphia's typical housing stock is nearly a century old—and many are in need of serious and costly TLC.

Investors can pick up an array of condos and row homes throughout the city for under $150,000. Those who don't mind putting in some elbow grease—um, lots of elbow grease— can score this three-bedroom, two-bathroom townhome in the Cedar Park neighborhood. With a front porch, hardwood floors, and an enclosed backyard, it's listed for a hair under $150,000.

ORLANDO, Fla. – June 11, 2019 – A new report from Wells Fargo Securities indicates economic growth in Florida has continued to outpace the nation so far this year and has evolved to enhance long-run competitiveness.
"Its strong performance is particularly noteworthy given the severity of the Great Recession in Florida, and the considerable adversity the state has faced from devastating hurricanes, citrus greening, constant trade uncertainty and slower global economic growth," says Wells Fargo Senior Economist Mark Vitner.

"We expect economic growth to moderate this year, as the national economy slows," he adds. "Florida is poised to remain one of the nation's fastest-growing states, however, and growth remains remarkably broad-based across industries and geographies."

Florida average hourly wages have increased 2.8% over the year, construction has remained steady, and the housing market has returned to form.
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"While moving in the right direction, home sales weakened late last year when mortgage rates spiked," Vitner says. "With sales moderating, homes are sitting on the market slightly longer, which is giving buyers a little more bargaining power. As a result, home prices have cooled, rising 4.6% year-over-year in March, which stands in contrast to the 6.2% rate hit this time last year. Price appreciation has moderated in both higher-priced markets, like Naples and Sarasota, and lower-priced areas, like The Villages, Ocala and Cape Coral."

In a sign that Central Florida’s economy continues to soar, Orange County posted another record-setting increase in property values this year.
Property values in Orange County jumped 9.3 percent, an $11.2 billion gain from last year. The higher values included $500 million in additional new construction, to $3.6 billion.

Property Appraiser Rick Singh credited “a thriving Central Florida economy” and “record-breaking growth” for the big jumps in values, according to a written statement. The increase exceeded last year’s 8.3 percent tax-roll increase.
Orange’s neighbor to the south wasn’t far behind. Osceola County saw a more than 9 percent increase in property values from last year, Property Appraiser Katrina Scarborough said.
“Osceola is the second fastest-growing county in the state,” Scarborough said. “More people are coming and the demand is high for housing.”
It’s the same story in other Central Florida counties. Lake County posted a 9.25 percent increase, and Seminole values shot up 8.25 percent.
Rising values means counties and cities can expect to see more tax dollars rolling in even if local governments maintain the same tax rates.
Orange’s office of management and budget, for example, is recommending the county keep its property tax rate at the current roughly $4.43 for each $1,000 of taxable value as commissioners plan to start budget work sessions next month.
Orange Sheriff Jerry Demings’ office has submitted a proposed budget for next fiscal year that asks for $13.7 million more — a nearly 5.9 percent increase — than last year’s budget. Demings plans to use a portion of that money to pay for salary increases and hiring 26 new deputies.
Despite the expectation of additional tax dollars, local government officials across Central Florida are uneasy about a state constitutional amendment on the November ballot asking voters if they want an additional $25,000 homestead exemption that would apply to homes with taxable values above $100,000.
If approved by voters, some local governments could see tax revenues drop despite the increase in values.
Besides the counties, Central Florida cities also saw ample increases in property values.

Fruitland Park in Lake County expects a nearly 32 percent gain, in large part because of 719 new homes in a portion of The Villages community.
Other Lake municipalities experiencing sharp increases in property values include Minneola, 20.6 percent; Groveland, 16.8 percent; Howey-in-the-Hills, 16.6 percent; and Mascotte, 14.3 percent.
Casselberry led Seminole County cities with a 19 percent gain in property values followed by Oviedo,10.7 percent; Longwood, 9.25 percent; and Sanford, 8.75 percent.
In Osceola, St. Cloud led the charge with a 12.5 percent increase, followed by Kissimmee with a nearly 9.6 percent gain.
In Orange County, Ocoee showed the highest increase at 13.7 percent.
“It’s great news,” Ocoee Mayor Rusty Johnson said. “We’re getting all this economic growth. … And it shows that Ocoee is a great place to be out here.”
Johnson pointed to a new industrial park off State Road 429 near Crown Point Road and Palm Drive, along with new homes going up on the city’s north side between Clarcona Ocoee and McCormick roads.
Johnson said he will urge his city commission to lower Ocoee’s property tax rate as it discusses the budget this summer.
“Now that we’re getting all this economic growth, we’ll be able to cut it some more,” Johnson said.
Other Orange cities posting significant gains include Oakland, 12.6 percent; Orlando, 11 percent; Winter Garden, 10.6 percent; Bay Lake, 10.4 percent; and Apopka, 10.1 percent.

Walt Disney World's work on one of its newest resorts appears to be making headway as the rest of the Orlando tourism industry gears up for the Aug. 29 debut of Star Wars: Galaxy's Edge at Disney's Hollywood Studios theme park.

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A new permit filed June 16 with Orange County gives a peek at what crews are up to at the site of Disney's (NYSE: DIS) new 900-room resort — Reflections: A Disney Lakeside Lodge. The permit is for the demolition "associated with existing utilities and surrounding configuration" at 4420 Big Pines Road, which is near the construction site for the future resort slated to replace Disney's long-shuttered River Country water park.
The contractor on the work is Balfour Beatty Construction, which has been tagged to several former permits filed earlier this year.

For example, permits filed on Feb. 1 showed crews began work on "new building, mechanical, electrical, plumbing, fire protection, civil and area development" and site work near the future resort. The address for that work was at 4500 Big Pine Road and 632 West Wilderness Road in Bay Lake — just down the road from the future resort.

Disney has said the new resort will be nature-themed and have Disney Vacation Club villas for the theme park company's timeshare customers. The property will have access to Bay Lake which is just east of Disney's popular Magic Kingdom theme park.

The timeline for the resort has yet to be revealed, but it's likely to be ready by 2020 or 2021 — just in time for Walt Disney World's 50th anniversary.
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Meanwhile, Walt Disney World has two other accommodates slated to open this year: the 545-room Gran Destino Tower addition to Disney's Coronado Springs Resort set to open in July, and the 300-unit Disney's Riviera Resort timeshare resort that will debut in December.

Let’s face it. Life can get complicated, complex and stressful very easily. Luckily, there are plenty of ways to simplify your life, especially at home. Here are some tips from the experts:​

• Don’t be ruled by the TV guide. Instead, select the shows you want to watch and record them. That way, you can watch what you want at the times that are most convenient for you.​
• Prepare some meals in advance and freeze them. Simply heat them up as needed. That will reduce a lot of after-work, “gotta-get-dinner-ready” stress.
• Create a weekly dinner menu. It takes some time to prepare, but it allows you to shop effectively, and greatly reduces the stress of figuring out what to cook each day.
• Don’t accumulate stuff you don’t want or need. Give those things away.
• Simplify your cleaning by dividing tasks into 10 minute chunks (such as vacuuming the living room.) Then, fit those tasks in whenever you have 10 minutes to spare.
• To avoid clutter, adopt the “touch it once” rule, which simply means you put things where they belong right away.
• Limit the time you and others in your family spend checking emails and text messages. Consider having an hour or two of “no screen” time each evening.
• Develop healthy routines, such as evening walks and family board game night.

These are just a few ideas. If you want to simplify your home life, you can probably brainstorm several other strategies and habits you can try. The idea is to make your home an enjoyable place to be - for you and your family.

Orlando's sales head up as summer homebuying season kicks in
(Released June 2019) Encouraged by continued low interest rates and a favorable economy that is drawing droves of new residents to Orlando, area homebuyers pushed sales into positive territory for the month of May. Home sales jumped by nearly 11 percent compared to May 2018, which is the first year-over-year increase in 2019.

The improvement can be attributed to factors such as the slower rate of price increases and mortgage rates that are not only holding steady but even dropping a bit.
According to the latest monthly report from the Orlando Regional REALTOR® Association, members were involved in 3,790 property transactions during May. Sales of single-family homes improved by 12 percent over last year, while condos rose by 6 percent.
Speaking of condos, this home type is leading Orlando’s seven-month string of inventory increases. The number of condos available for purchase in May expanded by 27 percent, to 1,154. Single-family homes had 6% more availability than in May 2018, bringing our overall inventory up by 8 percent.
Despite inventory gains, Orlando is still clearly a seller’s market as it has only 2.14 months of supply (six months is considered by economists to indicate a market that is balanced between buyers and sellers). However, the balance shifts when you consider price categories, with the lower price categories firmly favoring sellers and the higher price categories ($800,000 and above) favoring buyers. Those in the market for a home priced between $2 million and $5 million currently enjoy 28 months of supply.
ORRA’s report also shows that the overall median price is once again on its years-long upward track. After a brief derailment into the red last month, the Orlando median price — the figure at which half of the homes sold for more and half sold for less — rose 4 percent in May to $243,000.

Single-family Home Update
Single-family home sales bumped up 12 percent in May, with 2,993 units sold throughout the Orlando area versus 2,672 a year earlier. Compared to last month, single-family sales are up 18 percent.
The median price for single-family homes increased by 4% to $263,000 in May. The inventory of this home type improved by 6% over May 2018, and there are currently 6,382 single-family homes available for purchase through the multiple listing service.

Condo Update
Condo sales are up by 6% (434); condo inventory is up by 26% (1,154), and condo median price is up by 9% ($136,500).

MSA Numbers 
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in May were down by 4.2% when compared to May of 2018. To date, sales are down 8.0%. 
 
Each individual county’s sales comparisons are as follows: 
 
*Lake: 15.3% below May 2018; 
*Orange: 3.0% below May 2018; 
*Osceola: 4.4% below May 2018; and 
*Seminole: 3.0% above May 2018.  

This Is Us. Jane the Virgin. Black-ish. What do they have in common? They are all family television programs that have members of multiple generations living under one roof. But the reality of multi-generational living is more than sitcom fodder.

According to the 2019 Home Buyer and Seller Generational Trends report by the National Association of REALTORS® (NAR), multi-generational housing continues to be a growing trend among homebuyers. This trend is driven largely by Gen Xers, who are the second-largest band of homebuyers today at 24%. Of that cohort, one in six purchased a multi-gen home, half of whom cited accommodating adult children as their reason for doing so.

When it comes to millennial buyers, nine percent purchased a multi-generational property they could share with aging parents, per the report.

Whether you're looking to accommodate aging parents or making room for your boomerang child, these tips will help you find the right place to make it work.

Look for a home that was built with multi-generational living in mind.
Schumacher Homes, Lennar, and Plantation Homes are just a few of the builders offering a multi-gen solution in a brand-new residence.

Tailor your home search.
If custom built multi-generational home isn't doable, look for a home that's easily convertible. A downstairs bedroom and bath is key for older residents, and an en suite bathroom is even better. A home with a basement or attic may seem like an ideal place to turn into a grandparent's haven, but stairs can be dangerous and obviously wouldn't work for a parent using a walker or wheelchair.

A property with a guesthouse or enough land on which to place a granny suite or tiny home is another option. Just make sure the land is zoned properly to accommodate this type of structure.

Make smart renovations.
Taking down walls to create an open floorplan is a smart move that can have a positive impact on your home's value and also make it more accessible for aging parents.

The National Association of Home Builders' (NAHB) Aging-In-Place Remodeling Checklist recommends a "5-foot by 5-foot clear/turn space in living area, kitchen, a bedroom, and a bathroom." They also suggest wide hallways that measure a minimum of 36-inches across, good lighting, and non-slip flooring.