Hi all ,
I have been investing on New Jersey market in past 3 years , recently Oman to invest Tampa Florida .
The rechearch I did online was very mixed some say is great area to invest other says no so good because is over priced already .
For those you know the market what do you think of investing Tampa Florida ?
ROI and appreciation. ? Is the population still growing is it landloard friendly ?
Good Morning Liz,
We have one rental in the Seminole Heights are and it was VERY easy to rent. This was our primary residence and we moved out a few months ago. We did not intend to use it as an investment, but our PITI is about 1800 and we are renting it for 2250. So after cap expenses and maintenance cost there is not much of cash left. the Seminole Heights is a very up an coming area but it’s hard to find an affordable deal.... lots of construction going up in any parcel they can find, regardless how small the lot.
We actually just started doing some research on the market this week for a multi family under 150k. So I’m curious what others think would be a good area to invest.
Take a look at the Wesley Chapel area, it’s about 25 minutes north of Tampa and is growing rapidly.
From our initial research, it seems like the Tampa area jobs and population is expected to continue to growing for the next few years, and it would be a good area to invest in this high market. I personally have not seen very mixed review...but this is just our initial research ... and disclaimer, we are still part time newbies.
What type of property are you looking for if you don’t mind me asking? If we come across anything we can send it your way.
All the best!
Hi @Liz C.
The recently development in Tampa has caused prices to rise. So parts of Tampa, closer to downtown in particular have gotten out of hand, but are still selling for 98% of asking price, and in very little time on market.
Cap rates I'm seeing are within 5-7%. Appreciation is around 20% in some areas over the last year. Prices have increased, but it's actually now being backed by increased development, population and wages.
South Tampa is an area where most people want to be, however, a lot of people have been priced out of it. Millennials in particular are moving to the outskirts of South Tampa, and that's where your opportunity is for cash flow, and appreciation.
If you'd like more details, send me a message and we can chat over the phone.
I have a few S Tampa properties, but deals are hard to find in todays market. I would look in the south county Riverview, Gibsonton, Ruskin area. lots of growth down there. plus they are talking about another amazon warehouse down that way.
From personal experience many markets can be great to invest in, the key is knowing where to find the right deals! My team and I scour almost every avenue to find quality investment properties. MLS, MyHouseDeals, Auctions, Wholesalers, Probate Attorneys, etc. Our best investments come from direct mail marketing, which I understand can be useless unless you know which properties to target.
MLS is very difficult for us because people are paying to much for properties and there is not enough meat left on the bone to make a really good profit. I am more then willing to connect you with some local wholesalers who can help you find the right property without having to go into a bidding war to get.
Lastly, there are many, many wholesalers out there and not all are looking out for you best interest. Make sure you are provided with physical evidence that their values on each property are what they say they are. They should be pulling accurate comps for each deal they send you.
PM if you would like to connect and discuss this any further.
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