Since 2010, over 500,000 jobs have been created in Florida and the population is growing at a staggering 900 people per day. Florida is now the 3rd most populated state – surpassing New York in total population. This growth isn’t anticipated to slow down, and Florida is expected to maintain this position for the next 20+ years. The economic indicators all point to continued growth in nearly every segment of the economy. And as the nation continues into the 9th year of economic recovery, there are no signs of slowing down for the foreseeable future. Florida is among the top performers in regards to growth, outpacing the national economy by almost double. Areas like Naples, Ocala, Orlando and Jacksonville are seeing the largest growth.
The Florida commercial real estate market is seeing strong performance across retail, multifamily, healthcare segments. As such, we see a vast number of 1031 exchanges within the state. Naturally, many of these exchangers are now leaning more toward properties that provide more passive forms of cash flow. As such, Tenants in Common or TIC properties have grown quite popular. Tenant in common investments are the ideal fit for exchangors looking to replace their management-intensive rental properties with properties that provide passive cashflow. The low minimum investments allow for diversification and pease of mind – just what those nearing retirement are looking for. TICs are also a great fit for IRA’s and other forms of retirement programs. 1031 Exchange Place can with the largest selection of TIC investments to choose from. Please don’t hesitate to reach out with questions. Whether you’re selling a rental in Miami or a an office building in Tampa, we’d love to help show you how you can simplify your real estate investing with a TIC property.