In every market, there is a buyer, and there is a seller. In a recent article posted on Curbed.com, the author spoke about the real estate markets that were most likely to be affected by the Coronavirus aftermath. Much like the economic meltdown of 2008, Florida has been identified as a market that could suffer some devastating blows to home owners who may be forced to sell their homes due to lack of job security, or ability to pay their mortgage.
This presents an amazing opportunity for real estate investors, and in particular, students of our mentoring program. There may not be a time as good as now to get your start in investing in Florida real estate.
Pandemic to Create Opportunity in Many Real Estate Markets
There are many areas of business in the U.S. that have been decimated by the Coronavirus, leading to almost 10 million Americans filing for unemployment. The airline industry is in shambles, and the hospitality industry isn't far behind them. While the housing market hasn't really showed a ton of information yet due to the newness of the pandemic, there are predictions being made as to which counties are the most vulnerable to a real estate decline when a few more months pass and the pandemic sets in a bit more.
This data posted below comes from ATTOM Data Solutions, a real estate data provider.
The analysis featured 483 counties in the U.S. that maintained a population of over 100,000 and showed 100 or more home sales in the first quarter of this year. The counties that qualified were then ranked according to risk and the graphic below shows the outcome.
The data here shows that once again, the East Coast is very vulnerable, especially Florida and New Jersey. Those two states have the most counties showing vulnerability to the virus. The Midwest is deemed virtually safe from this pandemic (good luck finding deals there!), making Florida a spot that is ripe for investment if you know what you are doing.
These are the types of situations that can make the average real estate investor acquire wealth much quicker than in other times. If you have any interest in learning our methods and teachings, contact us today for more information on the BREIA mentor program. We are a nationally acclaimed chapter, and one of our leader mentors, Ryan Kuhlman, is the President of the National REIA.
You won't find a better chapter in Florida to learn real estate investing from.
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