And now in our corner were days….
A house on a double lot in Fort St. Lucy for $ 285!
The year was the year 2019… .The days before the corona era.
Pastoral Florida was relatively restless. At least compared to today's madness.
People expected a massive correction in the market.
The corona has arrived.
The Fed, in order to avoid a necessary correction in the market, a market that was supposed to enter a recession, swallowed energy balls in the form of money prints and distributed almost free money to anyone who demanded it.
A little anecdote… We returned this week from Nashville from Talvis Presley's recording studio
Surprisingly he did not think at all that he would be remembered after his death but his egg became the number one attraction in the country
So why did Elvis die? He tried to control his energy and sleep with pills - before the performance of energy pills, before sleep sleeping pills.
And so is the Fed. Instead of letting the economy rest, they injected drugs in the form of endless incentives.
The result, inflation and the amount of real estate purchases in Florida that did not look like an example.
The low interest rates caused anyone who could just stand in line and grab assets to buy from everything next door.
The contractors tried to meet the demand but due to the fact that we reached millions of unemployed, the supply chain was damaged and we are still in a huge shortage of millions of housing units, especially in the demand areas. The wood and other raw materials skyrocketed.
Florida has become the most sought after state in the United States overnight.
Many fled states such as New York and California to avoid strict corona laws, preferring Florida freedom and of course tax benefits.
The Governor of Florida has taken all the necessary actions to attract the public such as benefits of different types and also the various high-tech companies by various benefits like said tax benefits.
As a result, today's Florida has become an unparalleled area of demand. Prices in South Florida have skyrocketed and caused strong domestic migration to West and Central Florida - places like Lake Placid, Cape Coral, etc. see over fifty percent of domestic migration from South Florida.
The Sarasota and Cape Coral area are the number 2 and 3 areas throughout the United States in the number of immigrants from various states in the United States - most notably New York, from which 360 people fled.
Many preceded retirement and moved to Florida.
Many others started working from home in Florida in great weather and with a sea view while jumping into the future of technology - many companies completed gaps of five six years or more within a few months and allowed work from home. Companies like Zoom that were not heard of before 2020 have become commonplace in every home in the world with the soaring value of technology companies - as we saw with Amazon in Washington DC.
And we do not see a halt in the coming years.
Florida is booming and prices are moving from week to week.
Does not seem that the rise in interest rates is still affecting demand significantly as there is a very large amount of cash out there.
Most contractors raise prices while construction and construction interest rates fly.
So we work with those few contractors who in contracts with us have agreed to set the price - a rarity in itself. As a result, we have absorbed quite a few price increases on our flesh and reduced profits to meet commitments to investors.
So in short, today…
Whoever sits on the fence, both in real estate transactions, both in financing and in education, misses the train
The money sitting in the bank loses its value every day because of inflation
The same property you were debating to buy in 2019 is already costing at least double. Their ability today is to fund and spend all the money invested and get into another project already. Build capital and portfolio assets. Time is the most important component in real estate.
So as stated when purchasing it is important to keep track and check areas of demand. We are always trying to locate the following areas according to the migration maps and transit understood in the statistics of the moving companies and government statistics.
Checking construction starts versus immigration to make sure we are in crisis-resistant defensive markets to be prepared for any scenario.
For over six or seven years there has been talk of a massive repair, which is not happening. Corrections in some markets are certainly expected, but the United States is made up of 50 countries, and real estate investors keep investing. We will always find the next area and the next trend, because if there is one thing that does not change it is that people need a roof and a place to live and the world population grows and people move from place to place - where people move, where demand goes up and with them prices.
It is better to hop on the train and gallop forward because tomorrow it is late
Instead of waiting to buy real estate, buy real estate and wait
We are going out for another 3 days for a three week tour of 6 new construction sites throughout Florida that we work at. Will be worth following.
Miami
Lake Placid
Cape Coral
Punta Guarda
Orlando
Jacksonville Surroundings
And of course we continue to work in strong areas like Washington DC that has not seen crises near Amazon and the Capitol and Houston Texas that is currently receiving strong positive migration from areas like Austin that have gone up wildly in the last two years.
Interested in joining great investments in Florida? Leave details on the Nadlan Invest website and indicate the area that interests you:
Nadlan Invest - Real Estate New Construction Deals Florida
Places in each project are strictly limited.
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