Does anyone invest in Ocala Florida

[Brian Plajer]

I am thinking of investing in rental property in Ocala Florida. Wondering if anyone has experience there? If so, is there any red flags such as rental restrictions, limitations, etc. Thanks

[Murali Jesudoss]

Quote from @Brian Plajer:

I am thinking of investing in rental property in Ocala Florida. Wondering if anyone has experience there? If so, is there any red flags such as rental restrictions, limitations, etc. Thanks

We have about 17 rentals in Ocala and has been a huge success for us. We got them right in time during the 2021 and got quite good deals. It's different market now and I am slowly getting back to explore to see if we can still cashflow in the new price. For a 3/2/1 of 1200 sq ft, you can easily rent it for 1650 which is what I did last week for a lease break out and had a tenant move in 3 days after the vacancy. Lease was signed before. So depending on how much you pay for it, you can assess your cashflow.

[Clay Lehman]

Good morning Brian,

I am an investor in Ocala. The area is fairly landlord friendly. There are no municipal-level rental restrictions. You will want to watch out for HOAs, that is where you will see rental restrictions. But there are tons of areas where you can buy that are not in an HOA. I think the main thing people would point to as a red flag for Ocala is that it is not a large employment center like Orlando, Tampa, and Jacksonville and as a result may be more exposed to a pull back in values when there is a downturn. In the past 10 years, Ocala has greatly improved the employment base, adding tons of logistics and distribution jobs on top of the medical, service and equestrian jobs that we have always had. I agree with @Murali Jesudoss, I had pulled back from investing when things got super crazy in the last year or so, but I believe things are stabilizing and deals will start to become more attractive.  Good luck and welcome to the area!!

Thanks,

Clay

[Vicki X.]

Quote from @Clay Lehman:

Good morning Brian,

I am an investor in Ocala. The area is fairly landlord friendly. There are no municipal-level rental restrictions. You will want to watch out for HOAs, that is where you will see rental restrictions. But there are tons of areas where you can buy that are not in an HOA. I think the main thing people would point to as a red flag for Ocala is that it is not a large employment center like Orlando, Tampa, and Jacksonville and as a result may be more exposed to a pull back in values when there is a downturn. In the past 10 years, Ocala has greatly improved the employment base, adding tons of logistics and distribution jobs on top of the medical, service and equestrian jobs that we have always had. I agree with @Murali Jesudoss, I had pulled back from investing when things got super crazy in the last year or so, but I believe things are stabilizing and deals will start to become more attractive.  Good luck and welcome to the area!!

Thanks,

Clay

 @Clay Lehman@Murali Jesudoss Thanks for sharing! I'm also looking at opportunities in central FL, and Ocala was on my radar. I wonder if you have any experience and insights about Sanford - Deltona - Deland?

[Clay Lehman]

Hey @Vicki X., good morning.  I don't have any experience in those areas.  Welcome to Central Florida!!

[Giuseppe Pavone]

I invest in Ocala and really like it.  But there aren't many parts of Central Florida I don't like!!

[Shawn McCormick]

Quote from @Vicki X.:

Quote from @Clay Lehman:

Good morning Brian,

I am an investor in Ocala. The area is fairly landlord friendly. There are no municipal-level rental restrictions. You will want to watch out for HOAs, that is where you will see rental restrictions. But there are tons of areas where you can buy that are not in an HOA. I think the main thing people would point to as a red flag for Ocala is that it is not a large employment center like Orlando, Tampa, and Jacksonville and as a result may be more exposed to a pull back in values when there is a downturn. In the past 10 years, Ocala has greatly improved the employment base, adding tons of logistics and distribution jobs on top of the medical, service and equestrian jobs that we have always had. I agree with @Murali Jesudoss, I had pulled back from investing when things got super crazy in the last year or so, but I believe things are stabilizing and deals will start to become more attractive.  Good luck and welcome to the area!!

Thanks,

Clay

 @Clay Lehman@Murali Jesudoss Thanks for sharing! I'm also looking at opportunities in central FL, and Ocala was on my radar. I wonder if you have any experience and insights about Sanford - Deltona - Deland?

 I could help a bit in Sanford and Deltona areas if you like. I do a fair amount of busines in that area. What specifically are you wanting to learn?

[David Pierce]

Quote from @Vicki X.:

Quote from @Clay Lehman:

Good morning Brian,

I am an investor in Ocala. The area is fairly landlord friendly. There are no municipal-level rental restrictions. You will want to watch out for HOAs, that is where you will see rental restrictions. But there are tons of areas where you can buy that are not in an HOA. I think the main thing people would point to as a red flag for Ocala is that it is not a large employment center like Orlando, Tampa, and Jacksonville and as a result may be more exposed to a pull back in values when there is a downturn. In the past 10 years, Ocala has greatly improved the employment base, adding tons of logistics and distribution jobs on top of the medical, service and equestrian jobs that we have always had. I agree with @Murali Jesudoss, I had pulled back from investing when things got super crazy in the last year or so, but I believe things are stabilizing and deals will start to become more attractive.  Good luck and welcome to the area!!

Thanks,

Clay

 @Clay Lehman@Murali Jesudoss Thanks for sharing! I'm also looking at opportunities in central FL, and Ocala was on my radar. I wonder if you have any experience and insights about Sanford - Deltona - Deland?

 I manage quite a few properties in those markets.

[Michael Keffer]

Quote from @Brian Plajer:

I am thinking of investing in rental property in Ocala Florida. Wondering if anyone has experience there? If so, is there any red flags such as rental restrictions, limitations, etc. Thanks

Hey Brian. Reading this old thread. What did you decide? DM me if easier. 

[Oded Bahiri]

I am currently looking for a rental in this area. Could you please recommend any local real estate agents? Also, I would love to hear from you privately about how things are going for you.

[Brian Plajer]

@Michael Keffer Hi Mike, I am still interested in learning more about Ocala FL for potential future investment. Last summer we bough a vacation rental on Emerald Isle NC so that was a little distraction. 

[Elmer Urias]

Quote from @Michael Keffer:

Quote from @Brian Plajer:

I am thinking of investing in rental property in Ocala Florida. Wondering if anyone has experience there? If so, is there any red flags such as rental restrictions, limitations, etc. Thanks

Hey Brian. Reading this old thread. What did you decide? DM me if easier. 

Hey Michael, I just came across this as well now. I'm from Boston and I just bought a 3/2 1550sqft SFH in Ocala. Trying to decide between doing long term rental or short/mid term rental. Let's see how it goes 😬

[Elmer Urias]

Quote from @Oded Bahiri:

I am currently looking for a rental in this area. Could you please recommend any local real estate agents? Also, I would love to hear from you privately about how things are going for you.

I have a 3/2 1550sqft SFH avaliable

[Brian Plajer]

@Elmer Urias I ended up buying a vacation rental on Emerald Isle NC instead of Ocala. Keep in touch if you buy there

[Chris Rich]

Quote from @Brian Plajer:

I am thinking of investing in rental property in Ocala Florida. Wondering if anyone has experience there? If so, is there any red flags such as rental restrictions, limitations, etc. Thanks

Hey Brian!  My company manages a little over 400 properties in Ocala and most are OOS investor owned.  Depending on property size you can expect rents between $1500-$1850.  And while like Clay said, there aren't any large employment centers like a metro, you do have a solid job market.  Red Rock Development spent $50 million building the 600,000sqft warehouse (that Amazon now occupies) without a tenant lined up based off the projected growth.  Since then, Chewy, Auto Zone, AT&T, Dollar Tree have all built distribution centers in the area.  Additionally, the Villages are close by and with an aging population it attracts a lot of healthcare field workers.

Now, with a lot of rental properties you may run into slightly longer vacancy periods if you have a unit turn at the same time as others, but generally speaking renter demand is solid. 

Here's a link to a Realwealth article ( ) that discusses why Ocala is a great area for investors.  While it's a year old, the 137% equity growth from 2014 to 2022 is quite nice.