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by Chris Anderson
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ould have to assume that big groups are buying these large tracts of land with the intent of rapidly developing them and selling them during this crazy real estate market. Nothing could be further from the truth. What these groups know is that that the population of Florida is expected to increase by 35,000 people, per month, for the next 30 years. So month, after month, after month, you have people pouring into the state. So if you are one the big Florida real estate groups with tons of money in your pockets these days, what would you do? Buy the land in cash and sit on it for years --- also referred to as "land banking."
Now if you are familiar with the Florida real estate of yesteryear, you would have to assume that most of this population growth is from fixed, low income, retirees that are coming into the state. Wrong again. Today, and in the foreseeable future, you actually have very wealthy individuals coming into the state, possibly for long term retirement. The difference is they have lots of money, are willing to spend it, and are accustomed to nice life styles.
Whenever there is money flowing, then you obviously create business opportunities and job growth. As a consequence, many locations in Florida are exploding within the 20-40 year old age group. With this kind of real world demand floating around, the opportunities are endless for savvy Florida real estate investors.
Of course, you can not just blindly make investment choices, especially if you live outside of the state. Some areas have become investor dominated and could be a bit scary in the shorter time scale. Over the longer time scale however, the future looks very bright, especially in the area of land investments and affordable housing.
In the Learning Annex class in NYC, my |
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