Seeking Market Knowledge in Tampa, FL

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Seeking Market Knowledge in Tampa, FL

Josh Levan
Member since 2018 · 15 posts · 6 votes

Hi, I'm looking to gain some market knowledge in the Tampa, FL area. I'm looking to target multi-family and apartment properties with 15-20+ units. I would love to get some feedback from anyone who currently lives in the area or has investment properties there. I am also looking to connect with RE agents in the area to gain a better understanding of what is currently on the market and how these types of properties fit into the Tampa area.

I'd like to also acquiring any insight into current supply trends, as well as the demand based on occupancy for these types of properties. Is this area and property type a good place for the current market cycle?

Thanks in advance for all the help and insight!

- Josh

2Reply
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Most Popular Reply

Grant Rothenburger
Investor · Taylor Mill, KY · Member since 2016 · 2k+ posts · 964 votes
7y

My friend @Theo Hicks is in Tampa and knows the market well.

4Reply
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29 Replies

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  • Grant Rothenburger
    Investor · Taylor Mill, KY · Member since 2016 · 2k+ posts · 964 votes
    7y

    My friend @Theo Hicks is in Tampa and knows the market well.

    4Reply
  • Shannon Cohan
    Realtor · Tampa Bay Area · Member since 2019 · 24 posts · 12 votes
    7y

    Hi Josh! 

    The market in Tampa for rentals is hot right now. I've lived here for more than 20 years and have watched this area grow exponentially in the past 5. Personally I've been investing myself for the past 4 but mainly on Flips and or SF rentals. I have plenty of clients who go larger multi family units like you described. If you have any questions please don't hesitate to reach out! 

    3Reply
  • Josh Levan
    OP
    Member since 2018 · 15 posts · 6 votes
    7y

    @Grant Rothenburger

    Thanks for the response. I will probably reach out to Theo and see if he would like to discuss further. For me knowledge hat does your friend Theo do in the space? Broker, agent, investor?

    1Reply
  • Theo Hicks
    Rental Property Investor · Tampa, FL · Member since 2015 · 1k+ posts · 969 votes
    7y

    @Shannon Cohan which submarkets and neighborhoods are you multifamily clients investing?

    @Josh Levan I am an investor. Haven't bought a deal in Tampa yet but am on the market for a 100+ unit value-add deal

    2Reply
  • Josh Levan
    OP
    Member since 2018 · 15 posts · 6 votes
    7y

    @Theo Hicks what Florida markets do you typically target? Any suggestions on good locations for cash flow properties for multifamily of 20+ units?

    0Reply
  • Shannon Cohan
    Realtor · Tampa Bay Area · Member since 2019 · 24 posts · 12 votes
    7y

    @Theo Hicks most of the people I work with are in the heart of Tampa especially if its something you plan on holding onto for while. If you're looking to get out from the project in a couple of years maybe the Lakeland and/or Brandon areas. Both would give you high returns but I'm not sure yet how well those areas would do when the market turns back down. Hope this helps!

    0Reply
  • Theo Hicks
    Rental Property Investor · Tampa, FL · Member since 2015 · 1k+ posts · 969 votes
    7y

    @Shannon Cohan So mostly secondary and tertiary markets in Tampa. I like Lakeland and live in the Brandon area. Thanks for the reply!

    2Reply
  • Theo Hicks
    Rental Property Investor · Tampa, FL · Member since 2015 · 1k+ posts · 969 votes
    7y

    @Josh Levan Mostly northern Tampa, so University, Temple Terrace, Seminole Heights, East Tampa, Tampa Heights. And also the suburbs or Tampa as well. 

    4Reply
  • Theo Hicks
    Rental Property Investor · Tampa, FL · Member since 2015 · 1k+ posts · 969 votes
    7y

    @Josh Levan Mostly northern Tampa, so University, Temple Terrace, Seminole Heights, East Tampa, Tampa Heights. And also the suburbs or Tampa as well. 

    1Reply
  • Adrian Smude
    Rental Property Investor · Plant City, FL · Member since 2015 · 1k+ posts · 379 votes
    7y
    Originally posted by @Theo Hicks:

    @Shannon Cohan So mostly secondary and tertiary markets in Tampa. I like Lakeland and live in the Brandon area. Thanks for the reply!

     Lakeland has treated my family very well. :-) but like any investment there are bad areas. 

    0Reply
  • Elise Hazzard
    Property Manager · Saint Petersburg, FL · Member since 2016 · 182 posts · 51 votes
    7y

    Hi Josh, 

    I am Tampa Bay investor and am happy to assist.

    We do not currently invest in apartment buildings but I do know the area well.

    Feel free to send PM

    0Reply
  • Yannes Chiang
    Rental Property Investor · Pasadena, CA · Member since 2016 · 85 posts · 19 votes
    7y

    I am a out of state investor just invested in Tampa. So far I like that market, good renal market. One recommendation is find a good property manager, he will be an important key player

    1Reply
  • Account Closed
    Rental Property Investor · Mission Viejo, CA · Member since 2018 · 3 posts · 1 vote
    7y

    @Yannes Chiang

    Which part of Tampa did you invest in Yannes? I’m also looking in the area since my market is out of my budget

    0Reply
  • Aaron T.Pro Member
    Developer · Aguada, PR · Member since 2014 · 927 posts · 279 votes
    7y

    Tampa residential is a bit over priced. I don't dabble much in the commercial space, but east tampa is on the rise and will certainly change the whole area in the next 5-10 years. 

    0Reply
  • Yanhua Sappin
    Flipper/Rehabber · Brooklyn, NY · Member since 2018 · 49 posts · 18 votes
    7y

    @Theo Hicks I am an out of state investor who is coming to Tampa area next week and would love to get to know more about Tampa market .

    1Reply
  • Theo Hicks
    Rental Property Investor · Tampa, FL · Member since 2015 · 1k+ posts · 969 votes
    7y

    @Yanhua Sappin your best bet is to create a gameplay prior to landing in Tampa. I'd try to meet with a few local brokers and attend a local meetup group. Also, you'll want to drive some of the neighborhoods I mentioned in my previous post.

    0Reply
  • Sophie Mia
    Rental Property Investor · Tampa, FL · Member since 2014 · 17 posts · 2 votes
    7y

    @Theo Hicks

    Which local meetup group would you recommend in Tampa? I am moving there in 2 months and would like to buy a single family or condo.

    0Reply
  • Theo Hicks
    Rental Property Investor · Tampa, FL · Member since 2015 · 1k+ posts · 969 votes
    7y

    Hi Sophie,

    The REIA group down here is nice. But I would start your own meetup group!

    0Reply
  • Neil G.
    Investor · Knoxville, TN · Member since 2019 · 63 posts · 24 votes
    6y

    Hey guys, it looks like I'll be moving to Tampa within 2-3 months too. I'm interested in investing in multi-family rental and would love to join any meetup groups that have been assembled. Has anyone met up from this group?

    1Reply
  • Rachael Visconte
    Member since 2020 · 2 posts · 1 vote
    5y

    @Yannes Chiang

    Is there a property manager you can recommend? Thanks!

    1Reply
  • Jorge VazquezBusiness Member
    Real Estate Broker · Tampa, FL · Member since 2017 · 1k+ posts · 685 votes
    5y

    Nice to meet you! My name is Jorge Vazquez, and I am an experienced investor. I have been investing in Tampa for 20 years. I would suggest staying away from the city limits and look into the suburbs around Tampa. You find better deals; local investors are already making the shift.

    Graystone Investment Group4.6277 Reviews
    WebsiteView Page
    1Reply
  • Joshua Adlam
    Property Manager · Tampa, FL · Member since 2021 · 65 posts · 29 votes
    5y
    Originally posted by @Rachael Visconte:

    @Yannes Chiang

    Is there a property manager you can recommend? Thanks!

    Rachael are you still looking for a property manager?

    0Reply
  • Aaron Mazzrillo
    Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
    4y

    @Josh Levan - Did you get your 20 units? I'm looking to buy apartments in this area. If so, how did it work out?

    0Reply
  • Garrett Diegel
    Rental Property Investor · NV · Member since 2014 · 241 posts · 85 votes
    4y

    Also looking at Tampa and would love to connect with people in the area. 

    0Reply
  • Michael Haynes
    Investor · Tampa, FL · Member since 2016 · 679 posts · 288 votes
    4y

    Hello Josh Levan, you did not mention where you live? Big difference if you live in Tampa. If you really wanted to learn about an area from the sidewalk up, you could get a new Prius and sign up to drive for Uber...the other way is to not depend on the "Pros" out there and just learn how to use Zillow.com. Won't take you a couple hours to go through all the Searches on Zillow, starting from For Sale, For Rent or Sold. Then, search for Price from 0 to $500,000 or more. Leave Beds and Baths on Any. With Home Type you need to search all categories and I start with Land/Lots. You have to know what a Lot in that area is selling for and add on the cost of NEW Construction in that square footage to really know anything. Don't Save the Search and just go back each day until you find an Area and a type of property that you can qualify for. Pay attention on how many days it lasted on the Market cause they are all going the same day for Cash. I searched for a year while I was selling my 4 Commercial lots in S. Tampa and my 3/1 house in Seminole Heights. Started with 3 and 4 bedroom homes in Brandon with pools during the Covid. Then, I searched for new or almost new gated Townhomes and finally paid Cash for a 1500 3/1 with garage and pool, in a 17 unit community with low HOA in Valrico on the North side of Hwy 60 for peace and quiet and safety while I travel. It's been a year and it is worth $50,000 more than I paid for it. Try to do all you can to be an informed consumer.

    0Reply
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