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If you have time, go check out Sarasota's Siesta Public Beach, Clearwater Beach, or Pensacola Beach. The majority of the year is sunny, warm, and perfect for outdoor enthusiasts.įlorida is also home to some of the most beautiful beaches in the United States. To Work In A Beautiful State With A Desirable LifestyleĪt the end of a long day or ripping out walls and replacing electrical outlets (or, perhaps, supervising the people you hired to do these tasks), it's nice to enjoy an evening out on the town or a slow day in nature. Florida is just the place for that. The most sales tax you can pay anywhere in Florida is 7.5%. Counties are allowed to charge a local tax, with a cap of 1.5%. There is no state income tax and a meager 6% sales tax. Nor do people need to pay taxes to the state on intangible goods, such as investments. Here are the top five counties for foreclosures in Florida per housing unit (as of Q1 2022):įlipping Homes Is Cheaper In Florida, Thanks To Low Taxes And Affordable Mortgage Ratesįlorida ranks as the 40th most expensive state when it comes to tax rates, making it an affordable investment location.įlorida does not have an estate or inheritance tax. That means one in every 3,319 houses is foreclosed in Florida. Out of 9,448,159 housing units, 2,847 went into foreclosure. And out of those 33 cities, 10 of them sit on the west coast.įlorida also has the second-highest number of foreclosure properties in the United States. Out of the top 100 United States cities with the most empty homes, Florida contains 33 of those. Regardless, there are many real estate investment opportunities awaiting skilled house flippers. Of course, these figures do include second homes and empty rental properties. Some of the top cities, including Fort Myers Beach, Siesta Key, Longboat Key, Sanibel, and Marco Island, have vacancy rates ranging from 52.6% to 65.9% vacant. Florida Is Home To Many Foreclosed Or Vacant Real Estateįlorida has many vacant houses that are just begging to become income-earning investment properties. Just for reference, the national average rate of job growth is usually closer to 0.5% each year. To Benefit From Florida's Economic Stability And Growthįlorida has been making positive economic growth, despite the COVID-19 pandemic for yet another year.Īs of October 2021, it has benefitted from eighteen consecutive months of private-sector job growth. Miami, at a 1.4% y-o-y growth percentage.Tampa, at a 1.8% y-o-y growth percentage.Fort Lauderdale, at a 1.8% y-o-y growth percentage.Jacksonville, at a 1.9% y-o-y growth percentage.Lakeland, at a 2% y-o-y growth percentage.Indian River, at a 2.7% y-o-y growth percentage.Palm Beach, at a 2.8% y-o-y growth percentage.Orlando, at a 3.2% y-o-y growth percentage.Fort Myers, at a 3.6% y-o-y growth percentage.The top growing cities in Florida, according to this study by Cushman and Wakefield, are the following: This growth is remarkable and something you should strongly consider as a real estate investor. Data analysts estimate that Florida will grow another 11% by 2023. In 2017 alone, over 430,000 people moved to Florida. To Cater To Florida's Explosive Population Some of these homes may look a little ugly, but they are structurally sound diamonds in the rough, just waiting for someone with your skills. You would be doing the community a favor by taking homes that need some love and making them habitable and easy to love once again. To Improve Homes That Deserve A Second Chanceįlorida has a significant portion of houses that need some light repairs, touch-ups, or major renovations to be livable once again. Here are seven major reasons why you should consider flipping houses in the Sunshine state. Why Should You Fix And Flip Houses In Florida? Is The Current Housing Market Good For Flipping Florida Houses?.
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How to Start Flipping Houses In Florida With No Money?.10 Rules For Flipping Houses In Florida.