Timing the Tampa Market Question
Hey everyone! I am new to real estate but have been trying to soak up as much information as possible over the last couple of months. I am active duty Air Force and live in the Tampa, Florida area. My goal is to acquire as many cash flowing rentals as is realistic in the next 2.5 years so that I can get out of active duty, go to the Reserve side, and run our business full time. The more immediate goal is to own one by the end of 2019.
My question stems from the step I took today to make that happen. I called up the real estate agent that I used to buy my primary residence when we moved to Florida in hopes that she may be able to refer me to an agent with experience in investment properties. She didn't give me any names, but she insisted that it is a bad time (peak market). In the time I've spent listening to the BP podcast and reading real estate books, I believe I have heard on several occasions that it is not a good idea to try to time the market.
What is the overall opinion on this? Is there anyone currently investing in this area that might be able to shed some light?
Thank you!
Most Popular Reply
The realtor you called is right. The Tampa market is pretty hot. Maybe you'll buy today at X and next year it will be 1.5X maybe it will be 0.5X no one knows. My experience is that stuff bought last year has appreciated but no one can really predict the future.
If I could go back a couple years I'd give the younger me the following tips:
1. Buy brick houses only
2. Consider buying in Lakeland
3. BUY