Miami vs Tampa Multi-Family Real Estate
Hi I am looking to get into commercial real estate in Florida and looking at the Tampa and Miami areas. Tampa tends to have better cap rates on LoopNet and Miami tends to have more job postings on indeed, although there are opportunities in both. I am new to real estate so I still have a lot to learn but it definitely makes sense that the better the property the more likely there will be a buyer and Tampa tends to have better cap rates. However Miami has less barriers to entry which is a criteria that some investors look for. It's tough to choose between the two.
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@Glenn Gayet I think both cities (Miami and Tampa) have great opportunities (I am located near Miami,) but I think that Tampa might be better at this time for rentals. South Florida's rental market is definitely hot, but unless you are willing to buy highly distressed properties and fix them up, there is less profit to be made (if you look at the ROI or GRM.)
Miami has great opportunities for Fix and Flip though. So you could consider both markets: Tampa for Buy and Hold and Miami for Fix and Flip.