This article by OPP Connect editor Adrian Bishop was originally posted on OPP Connect.
Investment properties with tenants are being provided by investment specialist JWB Real Estate Capital, based in Jacksonville, Fla., which is ripe for further economic and real estate market growth, it argues.
Historic map image via Shutterstock.
"Investors who are considering a real estate purchase in the state of Florida can utilize our new properties as one way to build an investment business without a lot of risks," says a company spokesperson.
The inclusion of "at will" tenants paying monthly rent in single-family homes helps property investors obtain a faster rate of return compared to purchasing a home that is not ready to be rented, it says.
JWB Real Estate Capital is also involved in new home construction to add to the company-owned properties that are available for investment.
Company President Alex Sifakis compares Jacksonville to the movie "She's All That" where two high school friends try to turn a shy, seemingly unattractive girl into the prom queen in six weeks.
He says, "Jacksonville is currently a thinly veiled ugly duckling that is about to get her big staircase reveal and be totally transformed. Bam! This translates into great things for all of you.
"Despite a bad makeup job and some suspect wardrobe choices, Jacksonville is just like Rachel Leigh Cook in "She's All That." With strong leadership and the ability to take advantage of some key opportunities, Jacksonville has a great chance to reveal herself as the 'knockout' we all know she can be."
Despite its robust economy and strong real estate recovery, Jacksonville -- the largest city in Florida by population -- has always been an underperformer and has not taken full advantage of its natural assets and potential as a world-class city.
"However, there is now a plethora of leaders (both young and seasoned) that are challenging old stereotypes, taking advantage of opportunities when they present themselves, and not taking no for an answer. Jacksonville should not be an underperformer for long."
Jacksonville has the second-fastest growing tech services base in the country and major downtown redevelopment is taking place, with new mixed-use and high-rise developments being built.
Industry is expanding, with liquefied natural gas production facilities being constructed in the area, and the port area is also aiming to expand.
Jacksonville's tourism industry is planning to increase the $2.2 billion revenue generated in 2013 and persuade more of the 25 million tourists who drive through on their way to vacation in southern Florida to stop there. The expansion of commercial space flights at the Cecil Airport for space tourism also has huge potential, says JWB Real Estate Capital.
"The economic impact of having just 10 percent more of those tourists stop in downtown Jacksonville for a night on the way to their ultimate destination would be exponential.
"Jacksonville has a natural advantage in getting those tourists to stop in the city. When heading south on I-95 from Richmond, Va., Jacksonville is the first city that you come to. Other cities such as Savannah and Charleston are 20 to 40 minutes off the highway. Being situated four to eight hours from many other vacation destinations such as Naples, Miami, the Florida Keys, it should be a perfect place to stop for the night."
"Even if only one or two of the six areas of growth for Jacksonville actually pan out (which would seem like a worst-case scenario at this point), Jacksonville should be a very different place in a few years. Even if none of them do -- well, Jacksonville will still be a great place to live, work, play and invest.
"No state income tax, great weather, a relaxed, laid-back atmosphere, and a high quality of life will continue to draw people here; Jacksonville's economic stalwarts -- banking, logistics, health care and the military -- will continue to drive economic and real estate value growth!"
For more details about JWB Real Estate Capital, see the company website at: http://jwbrealestatecapital.com.