Top Zip Codes in Tampabay Area

[Malcolm Barrett]

Was just wondering what other investors feel are the Top zip codes to invest into in the Tampa area. I personally do business in Hillsborough, Pinellas and Pasco county and consider that to be the Tampa area but just wanted some thoughts or success stories from other investors who may focus on different zip codes within "Tampa". 

[Michael Haynes]

@Malcolm Barrett, Do Top zip codes make for profitable investments? All the big Politico's with tons of money live in Beach Park. That's South of Kennedy on West Shore with all the canals and boats behind their multi-million dollar homes. But, its the first place to flood when it rains. Same with New Tampa. It was built on a swamp. Lots of humidity problems coming up from the ground. I talked to an owner on Davis Island and she has an extensive drain system throughout her yard to pump the water out of the back when it rains. Probably illegal, but, she don't want it coming in the back door. All the brokers want to sell downtown Tampa, but, no one lives in all those high rises. Its dead at night. Remember, Tampa is a 100 year old town, trying to be a City, without the infrastructure. Its really just a big mess. I need the airport. It sounds like you need the highways on the West side to do business. You want a place to live in or a beautiful place like Westchase with a discounted house to rent/invest? I was talking with a young Broker yesterday and I was surprised that he did not understand the basic principle in investing in Real Estate. I don't see anybody talking about this on BP either. The theory is that "investing" for the long term in Real Estate can give you tax advantages and you can Leverage with borrowed money. You are supposed to look for a property to buy that has some reason to be discounted from the Retail price and buy as much of it as you can with Other People's Money at the lowest interest rate. Living in Tampa with the need to do business in Pinellas and Pasco says you need a residence on the West side of the endless and increasing traffic that we have in the City of Tampa. That says to me Westchase like from Citrus Park West. The whole place looks like a well groomed, Golf Course. You want to buy something at a big discount? Do you have time to wait for a year to buy? Wait till after the Election and see how things turn out and if the Fed tries to raise the interest rate, then, expect a collapse in the Market. Big slow down at least. The highest priced real estate is going to take the hit, last. Then, act like Warren Buffett and Buy when everybody is Selling and there is blood in the street like in 2008. Time your purchase and if you can get the 3.5%, 15 Year Mortgage or there abouts, with a good down payment to eliminate the Mortgage Insurance cost and not in a Flood Zone...you could be a winner in the long term as long as Congress does not eliminate the Home Mortgage Deduction etc. Wait a few years and you can sell with a tax-free profit by selling your Residence and move onto the next one. Or just buy two and live in one and rent the other, but, make sure you only Buy the properties that you would want to live in.