Top-Level Market Comparison: Tampa Vs Nashville

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Top-Level Market Comparison: Tampa Vs Nashville

Bob Mueller Jr.
Rental Property Investor · Member since 2018 · 41 posts · 8 votes

My company has non real estate (automotive related) operations in CHA/ATL/DFW/TPA/NSH/PHX, but I have family in Nashville and have grown to love Florida in my travels.  As a 1st time investor, would I be better off focusing on Tampa or Nashville?  Sounds like St. Pete might still have some cash flow possible?  Every time I see Nashville discussed on this site, it seems the market is hyper-inflated there.  Lastly, if I decide I must buy in Nashville, what would be the best strategy there with current market conditions?  I am looking to possibly buy multiple properties, so I could buy a single family in one market, and a multi in another, for instance.    

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Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
8y
TAMPA seems to still have some deals. I’ve had an auto mls search set up there from years and still see lots of potential. More inland areas like Lakeland and plant city have good cashflow too.
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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    8y
    TAMPA seems to still have some deals. I’ve had an auto mls search set up there from years and still see lots of potential. More inland areas like Lakeland and plant city have good cashflow too.
    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
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  • Marc Middleton
    Residential Real Estate Broker · Miami, FL · Member since 2014 · 214 posts · 106 votes
    8y
    Originally posted by @Bob Mueller Jr.:

    My company has non real estate (automotive related) operations in CHA/ATL/DFW/TPA/NSH/PHX, but I have family in Nashville and have grown to love Florida in my travels.  As a 1st time investor, would I be better off focusing on Tampa or Nashville?  Sounds like St. Pete might still have some cash flow possible?  Every time I see Nashville discussed on this site, it seems the market is hyper-inflated there.  Lastly, if I decide I must buy in Nashville, what would be the best strategy there with current market conditions?  I am looking to possibly buy multiple properties, so I could buy a single family in one market, and a multi in another, for instance.    

     So is your dad Robert?? (sorry, had to ask)

    I can say that Nashville isn't more inflated than Tampa though. Its been very hot there for quite some time. 

    If you aren't going to live in Florida and are a 1st time investor, stick to Nashville for now..

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  • Adrian Smude
    Rental Property Investor · Plant City, FL · Member since 2015 · 1k+ posts · 379 votes
    8y

    I buy in Plant City and Lakeland so I'll agree there's still cashflow possibilities there. The question you should ask yourself first is What kind of cashflow & ROI will you be happy with. This will help you decide what area to invest in. Also are you strictly for cashflow or do you want appreciation. I am a cashflow investor so I don't care so much where we are on the value of the property cycle, but I am strict on my cashflow needs which dictates the price I will pay.

    I always think you should buy within 30 minutes of your home at the start of your REI career.

    Happy Investing!  

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  • Marc Middleton
    Residential Real Estate Broker · Miami, FL · Member since 2014 · 214 posts · 106 votes
    8y
    Originally posted by @Adrian Smude:

    I always think you should buy within 30 minutes of your home at the start of your REI career.

    Happy Investing!  

     I usually tell people 1 hour but that's because I work in Miami and there tend to better deals in Palm Beach & Broward county. 

    If I was still in Orlando, 30 mins would be a pretty good rule of thumb. (Lakeland is still good, Volusia county is doing well)

    If you care more about cashflow like the investor above, Daytona Beach is good as well. Properties aren't going up much (until some laws start changing) but you can still get lots of Multi-families near the ocean. I just helped an investor get a 9 unit just 2 blocks to the beach for under $500k. You'll need a good PM though, a lot of 'problem' tenants on the beachside!!!

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  • Travis Rasmussen
    Realtor · Murrieta, CA · Member since 2016 · 373 posts · 203 votes
    8y

    @Bob Mueller Jr.

    I would first also ask, What type of real estate are you looking at investing in? That will help dictate where you want to invest.

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  • Luka Milicevic
    Real Estate Agent · Nashville, TN · Member since 2015 · 2k+ posts · 2k+ votes
    8y

    @Bob Mueller Jr.

    What type of numbers are you looking for? What type of RE are you looking for?

    Are you looking for rentals, flips, flip to hold, build to hold, build to sell? 

    I can give you better direction with more detail and maybe help you find a deal. 

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  • Bob Mueller Jr.
    OP
    Rental Property Investor · Member since 2018 · 41 posts · 8 votes
    8y

    @Luka Milicevic I would be looking for SFR (condos or homes) where I could stay temporarily and then rent it out after 6-12 months whenever I locate a 2nd property and keep building the portfolio. Or buy a small multifamily, hack one of the units, and rent the other units out. I am looking to buy & hold rentals with positive cash flow. I hadn't thought that building new was an option, I would think it would be nearly impossible to cash flow a newly built property.

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