Well, they came. We knew they would. Orlando, Florida has always been a place where people come. They come to visit for sure – annually over 60 million people come to visit Mickey and enjoy our warm weather and beautiful beaches, but they also come to live. The population of Central Florida has grown by more than 1,000 residents per week, for over 60 years in a row. Oh, they come.
But this is different. Since the Covid pandemic and with Florida being a state that opened its doors for business earlier than most – it seems the whole world now wants to call Florida home. And the result? Yep, you guessed it – housing prices have soared and now, suddenly, there are almost no houses left.
According to the Orlando Regional Realtor Association, home prices soared by 10% in April (yes, 10% in one month) and home inventories have reached their lowest level in recorded history. Typically, a balanced market has about a 6-month inventory of available homes. Orlando, by contrast currently has a 3-week inventory of available homes. Yes, you heard correctly – 3 weeks!!
What does this mean? The housing market in Orlando has reached a point where demand is so dramatically exceeding supply, there may soon be no more houses to buy. Housing developers are scrambling to bring new developments online and new housing out of the ground.
That is where Legion Capital comes into play. Legion finances early-stage housing development. We fill a void left by commercial banks that are still hesitant to get involved in early stage (horizontal) development. Legion is a leader in Central Florida development finance, particularly for new development. We finance developments in some of the highest growth areas throughout Central Florida and we look to dramatically grow our lending footprint as the Orlando housing boom continues. We feel we are in the exact right place at the exact right time.
So, come on down – there may be No Room at the Inn at the moment, but Legion and its network of Orlando area developers are coming to the rescue – and more housing is coming.
Click the link below to hear real estate economist Ken H. Johnson’s take on the current housing situation in Florida in this Orlando Sentinel article by Trevor Fraser.
About Legion Capital
Legion Capital (Ticker Symbol: LGCP) is a FinTech enabled, publicly traded specialized business lender providing growth capital to small and medium sized companies. Legion provides bridge funding, acquisition finance, development, and growth capital in a highly customized and expeditious manner, addressing a large and growing segment of small business lending that is under-served by banks and institutions.
Legion Capital serves our Investors and Financial Advisors through a suite of diversified equity and debt investment products, many of which offer attractive yields, non-correlation to traditional financial markets, and defined liquidity dates. For more information, please visit www.LegionCapital.com.
Certain statements that we make in this information piece may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will,” “may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in any Offering Documents associated with this information piece. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether the result of new information, future events or otherwise. Legion is a private lender, and not a member of FINRA or FDIC.