Buying a duplex with an FHA loan in Tampa

1 Reply

Hey guys! I am looking for a good deal duplex in the Seminole Heights area in Tampa, FL. Does anyone own a duplex around this area or have any suggestions of where I should look. I plan to live in the duplex as well. Thank you! Any ideas or comments help, I am also looking into joining the Tampa REIA next month any comments about that helps too!

@Maricruz Medina, Hello, the fact has been that they did not build a lot of multi-family houses in Tampa. The building boom came after WWII and they targeted 2/1 and 3/1 wooden houses for the Military returning from the War. Those are all the houses that everyone is Buying in Seminole Heights that are full of termites and going for big rehab prices. Did you look at the map on Zillow? Do you have an agent that knows how to do Searches? Have you driven each block in the area you want to live in...East to West and North to South and taken down all the numbers for houses that have potential? I am trying to do a Deal with my friend who has two houses on one lot next  to my rental, which is something you can also try to look for as some lots have two buildings. I converted the 1000 sq. ft. workshop in the back into the 2/1 house. I connected the Old Hyde Park style front house with an extension on the roof over the back porch to make this on Inlaw Apt. by the old rule in Tampa. The other thing is that BP members are talking Seminole Heights like its the one place in Tampa to Buy and it is a big area that I consider as mostly low class. Do you see that you have the West side of the I275 Hwy and you have the East side? Central Ave. is gorgeous, but, it is next to the Highway noise and on both sides the condition of the houses goes down to abandoned and overgrown. The Flippers are buying anything that has some kind of achitechtural appeal and gutting it to create those gem type houses that you see on the Flipper shows on TV, but, your neighbor may be raising pit bulls and have junk cars and cook crack cocaine in the kitchen. We are selling my girlfriend's 4/2.5, 2700 sq. foot home on a lot and a half with all kinds of extras on the top of the hill at Rivercrest Park with the best view of the Hillsborough River. Check out 4701 N. Boulevard on Zillow or Realtor. The lesser valuable areas of Seminole Heights are comparable to everything you have on the West side of the Hillsborough River, North of Hillsborough Ave. and we moved to our river home on the East side of the river across from the Lowry Park Zoo where there are some Deals, but, very hard to find a Duplex for cheap unless you want to live with the mess on the East side of I275. Time to do your due diligence.

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