Investor · Boston, MA · Member since 2015 · 6 posts · 1 vote
I just got the opportunity to move from Boston to working remote in FL. I settled on the Tampa metro area due to it being the 2nd biggest city with a young crowd while also not having the most expensive properties like Miami.
I'm looking to purchase a multi family to start and then grow from there. Has anyone had experiences doing this in the area and do you feel the cost of real estate is cheaper to justify moving and gaining a larger ROI?
Is there anything I need to be aware of with regards to the city or real estate market? I know it's heating up and I'd like to take advantage before I get priced out.
Tampa's market is HOT right now!!!! I work in Pinellas, Pasco and Hillsborough Counties. With what you are telling me, I think it would be smart to buy a Multi and live in one of the units. Do you have a property to sell or leverage to buy the new one? How much investing have you done already? If you don't currently have one, you would be able to use an FHA loan due to it being your primary residence and the insurance and finance rate is way cheaper than using a conventional loan at first. If you have any questions please feel free to let me know! Best of luck to you!
How large of a property are you looking for in Tampa, how many units? Do you have any specific parts of the city you want to be in? We actively invest in multifamily in Tampa.
Tampa's market is HOT right now!!!! I work in Pinellas, Pasco and Hillsborough Counties. With what you are telling me, I think it would be smart to buy a Multi and live in one of the units. Do you have a property to sell or leverage to buy the new one? How much investing have you done already? If you don't currently have one, you would be able to use an FHA loan due to it being your primary residence and the insurance and finance rate is way cheaper than using a conventional loan at first. If you have any questions please feel free to let me know! Best of luck to you!
I just got the opportunity to move from Boston to working remote in FL. I settled on the Tampa metro area due to it being the 2nd biggest city with a young crowd while also not having the most expensive properties like Miami.
I'm looking to purchase a multi family to start and then grow from there. Has anyone had experiences doing this in the area and do you feel the cost of real estate is cheaper to justify moving and gaining a larger ROI?
Is there anything I need to be aware of with regards to the city or real estate market? I know it's heating up and I'd like to take advantage before I get priced out.
Tell Tom Brady we miss him! And best of luck out there!
Investor · Boston, MA · Member since 2015 · 6 posts · 1 vote
5y
@Charles Carillo
I'd be looking for a 3 to 4 unit that would generate maximum rental income based on value. Unfortunately I'm not very familiar with the local areas but I'd be looking for a livable area for myself that's convenient but also not in a very pricey neighborhood
Investor · Boston, MA · Member since 2015 · 6 posts · 1 vote
5y
Thats exactly what I was thinking! I would live in one bedroom and rent out as many as possible. I'm looking for a 3 to 4 unit place. I don't have any real estate yet so I'd be looking for an FHA loan with 3.5 percent down.
I'd love a place in a convenient location that isn't a fixer upper. Hopefully one that asks for good rent compared to the value but isn't overpriced
Tampa's market is HOT right now!!!! I work in Pinellas, Pasco and Hillsborough Counties. With what you are telling me, I think it would be smart to buy a Multi and live in one of the units. Do you have a property to sell or leverage to buy the new one? How much investing have you done already? If you don't currently have one, you would be able to use an FHA loan due to it being your primary residence and the insurance and finance rate is way cheaper than using a conventional loan at first. If you have any questions please feel free to let me know! Best of luck to you!