Looking to invest/ relocate ....Tampa
Staten Island, NY · Member since 2015 · 37 posts · 5 votes
I am currently living in new York and cannot wait to make my exit. I’m leaning towards moving and investing in Florida. It looks like I can get work in the Tampa area.
I’m looking to buy a starter home that I can rent for now until i can transfer my job and I can reside there. this property will also be my first buy and hold rental property.
I’m looking for an area with average schools low crime rate and I would like to spend 150-200k and have it cash flow. My cousin recommended Spring Hill but i don’t know anything about Florida. Any info would be great. Thanks
Hello Charles Salumn. You have to plan a lot to invest in a Single Family home to rent, that will pay for itself and where you eventually want to live. You say you will eventually transfer to Tampa to work. Be smart and draw a circle on the map within a five mile radius off where you will have a JOB. That should be your Target area to buy. Learn how to use Zillow.com etc. to do your Search for a home for you that you will rent. See if the comparative rents are high enough to pay for the mortgage. I had rentals in South Tampa for 30 years that I managed myself. Tampa is in a construction frenzy and prices are very high. I am selling a 3/1 cinder block house, built in 1955 with outside porch, deck, laundry and two like new 10 x 10 sheds etc. for $200,000. Zillow has high estimates for value for it at $232,000. The range is from $180,000 at the low for similar, if you can find a fixer upper. I just refinished the 900 sq. foot Terrazzo floor. Got a new Roof. Termite tented ten years ago. New counter tops, paved carport, AC, heat pump, fenced yard, No Trees on the 50 x 100 foot lot. It is in North Seminole Heights and ready to move in. New home just built on the corner. New restaurant around the corner under construction. A few blocks away a city block of four story apartments finishing the build on N. Nebraska Ave. just before Sligh Ave. I sold my four Commercial lots in S. Tampa and paid $175,000 Cash for a 3/3, 1600 sq. ft. Townhome. Built in 2006, with garage and pool in a quiet community 16 miles outside of Tampa in Valrico, Fl. With a $200,000 Target price you can buy a new Townhome in Brando area. There were four communities being built a few months ago when I stopped looking. You can also find some bigger Townhomes with two car garages and other ammenities outside of the Tampa, City limits, North of the City limits. South Tampa is very expensive. You should try to live close to your new JOB because the traffic is horrendous in Tampa. Look at the Flood Map for a safe area. You don't want to get into the Flood Insurance mess. Properties are Listed in the mornings and sell by noontime. I made an offer on a pool home for $200,000 Cash and there were 35 offers in two days when the Agent closed the bidding. She sold it to a friend for $180,000. The Good Ole Boys Club is big in Florida. Do your due dilligence and be careful.
Hey Charles,
I operate in the Tampa office. I'm happy to connect and discuss more with you.
Thanks,
Pedro
Hey Charles.
That price point is difficult unless you go to a rougher area or areas like Spring Hill or Brooksville like your cousin mentioned.
I do a lot of business in the Riverview/Ruskin/Brandon area and your requirements certainly fit that criteria but most of the inventory within that range is either a townhome, condo, or needs some work.
Hello Charles Salumn. You have to plan a lot to invest in a Single Family home to rent, that will pay for itself and where you eventually want to live. You say you will eventually transfer to Tampa to work. Be smart and draw a circle on the map within a five mile radius off where you will have a JOB. That should be your Target area to buy. Learn how to use Zillow.com etc. to do your Search for a home for you that you will rent. See if the comparative rents are high enough to pay for the mortgage. I had rentals in South Tampa for 30 years that I managed myself. Tampa is in a construction frenzy and prices are very high. I am selling a 3/1 cinder block house, built in 1955 with outside porch, deck, laundry and two like new 10 x 10 sheds etc. for $200,000. Zillow has high estimates for value for it at $232,000. The range is from $180,000 at the low for similar, if you can find a fixer upper. I just refinished the 900 sq. foot Terrazzo floor. Got a new Roof. Termite tented ten years ago. New counter tops, paved carport, AC, heat pump, fenced yard, No Trees on the 50 x 100 foot lot. It is in North Seminole Heights and ready to move in. New home just built on the corner. New restaurant around the corner under construction. A few blocks away a city block of four story apartments finishing the build on N. Nebraska Ave. just before Sligh Ave. I sold my four Commercial lots in S. Tampa and paid $175,000 Cash for a 3/3, 1600 sq. ft. Townhome. Built in 2006, with garage and pool in a quiet community 16 miles outside of Tampa in Valrico, Fl. With a $200,000 Target price you can buy a new Townhome in Brando area. There were four communities being built a few months ago when I stopped looking. You can also find some bigger Townhomes with two car garages and other ammenities outside of the Tampa, City limits, North of the City limits. South Tampa is very expensive. You should try to live close to your new JOB because the traffic is horrendous in Tampa. Look at the Flood Map for a safe area. You don't want to get into the Flood Insurance mess. Properties are Listed in the mornings and sell by noontime. I made an offer on a pool home for $200,000 Cash and there were 35 offers in two days when the Agent closed the bidding. She sold it to a friend for $180,000. The Good Ole Boys Club is big in Florida. Do your due dilligence and be careful.
This is really going to depend on how close you need to be to the Tampa area. The closer you get to Tampa, the harder it will be to find what you are looking for.
Michael gave you great information above. I'm in the Wesley Chapel area which is a North of Tampa, but not as far as Spring Hill. This area is booming too and is in Pasco County which is one of the fastest growing counties in Florida. Wesley Chapel has the countries largest man made lagoon, 2 malls, and tons of restaurants. If you can go to the $225K mark you may be able to find something and definitely at the $250 mark. I'm also a realtor and property manager if you need any help or have any questions. Good Luck!
@Charles Salumn Spring Hill area is pretty country. There are some nice areas in Spring Hill surrounded by a lot of poor area. Schools are just eh... I recently moved from port richey(just south of SH) after 15 years of watching the area turn in to a “C” rental area... we moved to JW Mitchell school district which is closer to an “A” area. If you look on realtor and search for JW Mitchell school zone you will find homes in the 150-200k range on the NW end of the school zone. All the schools in this zone are excellent for Florida standards. Good luck