A recent list published by the JWB Group, a real estate analysis company, ranks Tampa in the top 25 cities for real estate investors. The list is based on cities where markets are ideal for building a passive real estate investment portfolio. In total, 7 Florida cities make the list, including Tampa, Orlando, Jacksonville, Kissimmee, Homosassa Springs, Ocala, and Palm Bay.
Real estate investment can offer immediate and long-term benefits to both first-time and expert investors. In the short term, purchasing real estate as rental property allows the investor to offset the cost of the property through passive monthly rental income from tenants. Strategic investment in real estate can provide the investor with a monthly income stream that not only covers the monthly costs, such as mortgage payments, property taxes, and reserves for repairs and maintenance, but also leaves a remaining profit from the outset.
Over time, this income complies to cover the original cost of the property. At this point, the monthly income stream is entirely profit, minus only property tax and maintenance reserves. The gradual accumulation of equity in the property produced by the monthly income stream is coupled with the increases in equity as the property’s value otherwise increases.
The JWB report is based on multiple sources of independent data. The report reminds investors to always consider advice and guidance from financial experts before investing.
The full list of top cities includes:
Jacksonville, Fla.
Ocala, Fla.
Palm Bay, Fla.
Memphis, Tenn.
Las Vegas, Nev.
Toledo, Ohio
Detroit, Mich.
Orlando, Fla.
Syracuse, New York
Atlanta, Ga.
Richmond, Va.
Kissimmee, Fla.
Homosassa Springs, Fla.
Muskegon, Mich.
Tampa, Fla.
Mobile, Ala.
East Stroudsburg, Penna.
Marietta, Ga.
Baltimore, Md.
Clarksville, Tenn.
New Orleans, La.
Cincinnati, Ohio
Indianapolis, Ind.
Tacoma, Wash.
Milwaukee, Wis.