Tampa Investors Zipcodes

16 Replies

Hey guys! So I'm moving to Tampa in May. I've identified these zip codes as some high performing zip codes... 33604, 33610, 33611, 33603, 33612. Could someone help me identify if I'm at least in the ballpark with that? Also, what are some zips/areas to stay out of? 

I'm in RE full time so I'd be in RE full time down there as well. I'm a realtor that works with investors (mainly) so I'll be doing the same down there. Thanks guys!

Hey Cesar, 

What are your factors in determining high-performing zip codes? There are a lot of different areas that are great depending on what you are looking at. 

Hi @Cesar Rebolledo ,

You're on the right track, 33603 and 33604 are growing areas, so it has potential for the different areas of REI. Just gotta be more specific when it comes to high performing, since everyone has a different definition of the term.

@Tom Parris  

@Edgar Rodriguez

Absolutely. I honestly have NO IDEA why I used that term "high performing"... what a nerd I am. So as I'm looking at those properties in those Zips I'm seeing a lot of buy and hold rentals. 2/1 2/2. I was basically trying to see non-owner occupied purchased under a LLC (or some sort of entity) in the last 6 months. 33603 and 33604 seems like great value add for rental portfolios?

@Cesar Rebolledo you are definitely on the right track. I really like 33614 as well. There are a lot of 1000-1400 sq ft homes. The biggest issues especially in Seminole Heights, South Tampa, etc is the amount of competition. Right now, I have really started looking at rougher areas especially in Southeast Hillsborough County where I anticipate a lot of the growth to be. 

@Edgar Rodriguez Yeah I mean competition is everywhere though isn't it?!I've been interested in Brandon and Riverview as well. 

Hi Cesar,

Now that you've narrowed your search down to several zips start looking at blocks.

For example, 33604 has four completely different markets in it alone - 

North of Kirby, West of North Blvd you can find cashflowing C-class properties.  

East of the 275 and South of Waters you would not want to walk around alone at night.

East of the 275 south of the river you can find decent B-class properties good for buy and hold with some appreciation.

West of the 275 and east of the river you'll find good fix n flips but will be hard pressed to find anything that cashflows.

First of all, I'm assuming you do know you won't be getting a Primary Residence purchase loan down here right off the bat trying to use your income from up in VA correct? Your success in being a real estate agent up in VA does not transfer with you in lender's eyes.

However, if you want to purchase "Investment/ Rental" property down here right away, credit worthy investors can purchase without qualifying with their new income.

BEST CASE 80% ltv rental property purchase on the No Doc Income ALT program with Closing costs paid for the buyer / investor is very Strong!

Contact me when you are 45 days out from purchasing

I grew up in 33604, just up from the River and near Lowry Park, but talk about an area taking a nose dive, sad to see! 

Step up into the 200k+ neighborhoods and consider buying and holding/renting out for over 1 yr for lower CAP Gains and for the appreciation and quality of tenant who you could set up on a lease purchase, etc.

@Steve McRory thanks for the heads! What 'success' do you speak of?! haha. Yes, I'm aware of the guidelines being dumb. I'd do what I have done in the past. Cherry pick my off market deals to purchase cash and only take out loans for my investment properties.

You're on the right track, but as others have warned, you probably need to drive around because zips can be deceptive. You'll probably need to play the game of "good block, bad block" to really get a sense.

A few areas I'd for sure keep out of:

1) Sulphur Springs

2) Anything between where Downtown ends to North Howard (basically Howard Ave goes from really nice to horror show extremely quickly)

3) Generally speaking, most areas by Busch Gardens are pretty rough.

I recommend looking at Pinellas county as well. It is close to Tampa and has a lot of great opportunities. 

Originally posted by @Tom Parris :

Hi @Cesar Rebolledo ,

You're on the right track, 33603 and 33604 are growing areas, so it has potential for the different areas of REI. Just gotta be more specific when it comes to high performing, since everyone has a different definition of the term.

This post is loaded with awesome nuggets of knowledge. Thanks everyone!

What metrics are you using to determine that 33603 and 33604 are growing areas? I'm looking to invest in Tampa as well and I'm in the process of narrowing down my target areas.

What are everyone's thoughts on the size of a farm area a first-time investor should focus on in the Greater Tampa area? Cast a wide net and look all over Tampa/St Pete or pick a few smaller neighborhoods to prioritize?

The most obvious areas appealing to a newbie like myself (mainly from just browsing listings) are the Tampa Heights/West Tampa/Seminole Heights areas, although I'm sure there's a lot of competition there. I also think south of downtown St Pete might have some good opportunity   

Hi @Kevin Galang,

Personal experience. I live in zip code 33604, and I have several projects in 33603. It's the location closest to the Armature Works, Tampa Riverwalk and all the newer developments. South Tampa is the most desirable part of Tampa, but all the millennials have been priced out of it. So it's perfect for young professionals that want walkability, and safety. 

@Tom Parris ... how are you finding your deals. What kind of projects? I've been cold calling those two zip codes. I see you're a realtor... do you work mainly with investors?

Hi @Cesar Rebolledo ,

My projects are building new construction homes. We look for buildable vacant land, or teardowns. We have found our deals from a mix of places. Either through MLS, wholesalers, or word of mouth.

I work with everyone who is either interested in buying or selling real estate. I'm an investor myself; I own 2 condos that I rent out, and I'm building houses. Give me a call if you wanted to discuss anything specific.

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