Population Growth Is Key To Investing In Real Estate
If you have time to invest in real estate for the long term rather than the quick "flip it" approach we've seen in the last few years, this article will give you some information that may help you retire rich in about 20 to 30 years.
According to a new study just released by the University of Florida, the state's population -- which now stands at about 18-million -- is forecasted to reach nearly 20-million people by the year 2010 (that's only 4 years from now). It will likely reach 25-million by 2025! By 2030, Florida may very well have 26.4-million residents.
All those new residents will need places to live, commercial buildings and industrial centers. That's good news for real estate investors, developers and landlords.
The trick is to know where all these people are going so you can get there first, buy some likely income property and watch your investment grow during the coming years. As it turns out, the good folks at the University of Florida's Bureau of Economic and Business Research have already determined where the growth will be -- and where it will not be, which is just as important. So read on!
In terms of percentage of gain, the fastest growing counties are projected to be Flagler, Sumter, Osceola, Walton, Collier and St. Johns. If that's where the biggest percentage of growth will be, it is logical to assume that the percentage of profit may be best in these counties.
Based on sheer number of people, the largest current counties will experience the largest population increases. Miami-Dade is projected to have the largest increase in pure number of people, with a projection of 775,000 more residents by 2030. Broward, Orange, Palm Beach and Hillsborough counties are projected to be among the top as well.
The slowest growing counties -- thus the least likely places for you to invest for real estate growth -- will be Monroe and Pinellas Counties. The reason for this is because both of these counties lack enough developable land to create new, large residential communities and commercial centers. The state's smallest current counties will also suffer from a lack of growth and investment opportunites -- Liberty, Lafayete, Hamilton, Glades and Jefferson Counties each have current populations of 15,000 or less and are projected to grow by only about 3,000 or fewer residents by 2030. Of course, they might be nice places to buy that country estate you've always wanted.
If you're at an age in which you can invest and hold property for 25 years or so, you might want to retain the services of a good local real estate broker in one of the high-growth counties, make a purchase or two, and sit on your investment for a few years and watch it grow. Now would be a good time to finance such an investment because mortgage rates are still pretty affordable. As Will Rogers once wrote, "Don't wait to buy real estate. Buy real estate, and wait."
According to a new study just released by the University of Florida, the state's population -- which now stands at about 18-million -- is forecasted to reach nearly 20-million people by the year 2010 (that's only 4 years from now). It will likely reach 25-million by 2025! By 2030, Florida may very well have 26.4-million residents.
All those new residents will need places to live, commercial buildings and industrial centers. That's good news for real estate investors, developers and landlords.
The trick is to know where all these people are going so you can get there first, buy some likely income property and watch your investment grow during the coming years. As it turns out, the good folks at the University of Florida's Bureau of Economic and Business Research have already determined where the growth will be -- and where it will not be, which is just as important. So read on!
In terms of percentage of gain, the fastest growing counties are projected to be Flagler, Sumter, Osceola, Walton, Collier and St. Johns. If that's where the biggest percentage of growth will be, it is logical to assume that the percentage of profit may be best in these counties.
Based on sheer number of people, the largest current counties will experience the largest population increases. Miami-Dade is projected to have the largest increase in pure number of people, with a projection of 775,000 more residents by 2030. Broward, Orange, Palm Beach and Hillsborough counties are projected to be among the top as well.
The slowest growing counties -- thus the least likely places for you to invest for real estate growth -- will be Monroe and Pinellas Counties. The reason for this is because both of these counties lack enough developable land to create new, large residential communities and commercial centers. The state's smallest current counties will also suffer from a lack of growth and investment opportunites -- Liberty, Lafayete, Hamilton, Glades and Jefferson Counties each have current populations of 15,000 or less and are projected to grow by only about 3,000 or fewer residents by 2030. Of course, they might be nice places to buy that country estate you've always wanted.
If you're at an age in which you can invest and hold property for 25 years or so, you might want to retain the services of a good local real estate broker in one of the high-growth counties, make a purchase or two, and sit on your investment for a few years and watch it grow. Now would be a good time to finance such an investment because mortgage rates are still pretty affordable. As Will Rogers once wrote, "Don't wait to buy real estate. Buy real estate, and wait."
-30-
posted by Terry Ward at 5:37 AM
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