As we all know by now, Hurricane Maria started its path of destruction in the Caribbean in the early parts of September and devastated Puerto Rico in the morning of the 20th, wreaking havoc throughout the island and leaving it 100% without electricity and with a very small amount of the island with running water. Relief efforts have been a struggle to say the least and many Puerto Ricans, being United States citizens by birth have decided to join the large Puerto Rican population in Central Florida, specifically Orlando and Kissimmee. I recently heard a report that on the weekend of October 7th, 2017, over 10,000 citizens arrived in Orlando International Airport from San Juan, looking to escape the hardships brought on by Maria and also searching for a better future for their children and families.
Being born and raised in the island myself, I must admit that I am torn by seeing this exodus of people coming to Central Florida. The reason for my concern is that the island is a deep financial crisis and the mass exodus of residents will directly affect the local economy in a negative way. I have spoken to many friends and the consensus is that the majority of people exiting the island are young college graduates and professionals seeking better pay and better opportunities for their families. This leaves a void of professionals in Puerto Rico and affects the island not only in economic ways, but also in cultural and academic ways as well. It also creates a snowball effect as there will be a shortage of Doctors and educators (the vast majority of professionals leaving) that are the backbone of any society and help the people both physically, mentally and culturally.
I said I was torn; aside from the reasons why I do not like seeing this exodus of citizens leave the island at the same time I am happy to see all these people chase the American Dream of a better life and future for their families. I myself made the decision at an early age to come to Central Florida (with the help of my immediate family) and often speak about how this has been the best thing that has happened to me in my life. As a long time resident of Orlando (25 years and counting) I now consider Florida, and Orlando specifically, my home state. As an avid traveler I can sincerely say that once I return to Orlando I feel at home and I hope all these people escaping the aftermath of this horrible natural disaster will someday feel the same way.
So what does this mean for you? By you I am referring to the people reading this blog, Property Owners and potential Central Florida Real Estate Investors. As of today, the 11th day of October 2017, we have 0 properties for rent and the properties we have rented in the last 2 weeks have rented for above average monthly rental sums and our tenants are well if not over qualified as there is a shortage of available, well located and safe properties in the market to rent. Our connection to this community also makes for an easy transition as we speak the language and understand the current hardships, as well as the chase of the American Dream.
If you are a Rental Property Owner and your property is not rented, or are thinking of investing in the Central Florida Real Estate Market, give us a call, I personally guarantee you that we can help and guide you in the most profitable way.