Florida Investment Tampa/Brandon/Orlando

16 Replies

We live in Ft Lauderdale, but have ties in the Tampa/Clearwater area and have been there many times. This year we will be intensely focused on building a passive income portfolio in Florida. Areas we're currently considering are Tampa/Clearwater/Brandon/Orlando.

We're looking to partner with local agents,  and property managment companies. Any great recommendations?

Primary focus at this point is SFRs up to a four-plex for a buy-and-hold. 

Orlando, FL cash buyers are friends of mine and often have inventory that they're not taking down. They tend to focus on flips so the rentals they sell off. Reach out to Brandyn and tell him that I sent you. They're a great resource in the area. 

Hi Gaurav, both markets (Tampa-Orlando) remain strong for holds but I can really only speak for Orlando as I live here (Windermere). In Windermere & Winter Garden, investors love the new construction (townhomes-SFH's) but even the older stuff is solid as there really are no "bad neighborhoods".

I'm on BP to learn more about REI (and ask for advice) but I'm also a residential agent covering all central FL. If I can be of service or assistance, reach out anytime. Good luck!

Guarev,

East to west coast in Central Florida have great areas for investments. Happy to discuss. Feel free to reach out

@Gaurav Patel yes the Buy/hold market in Tampa/St Pete/Clearwater area is booming. A lot of people are still moving here, a lot of projected growth, Low vacancy everywhere in Tampa Bay...so much so that big commercial builders are going vertical for new condo and apartment developments.

Originally posted by @Gaurav Patel :

We live in Ft Lauderdale, but have ties in the Tampa/Clearwater area and have been there many times. This year we will be intensely focused on building a passive income portfolio in Florida. Areas we're currently considering are Tampa/Clearwater/Brandon/Orlando.

We're looking to partner with local agents,  and property managment companies. Any great recommendations?

Primary focus at this point is SFRs up to a four-plex for a buy-and-hold. 

Gaurav, 

If you need someone to do some legwork in Tampa, let me know.  I can run by and take pictures, inspections, etc.  I figured working and helping others is the best way to network and create opportunities.  Let me know if there's anything I can do to help.  Good luck!

tampa bay has such a discrepancy between purchase price and rental prices that investors are buying up entire condo buildings and making them all rentals. they have done this several times over the years. i can think of at least two in the gateway area of st pete that have been bought and sold off several times in the last 20 years. there is a large influx of young professionals moving here and not enough inventory. 

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@Gaurav Patel

Tampa is absolutely a hot spot for investing right now. For buy and holds, I would suggest areas such as Ybor City, Tampa Heights, & South Tampa.

Ybor seems to be very attractive for buy & hold investors. The link below shows you the city's future and current development map for Ybor. (Notice the Tampa Bay Rays Stadium) https://www.tampagov.net/sites/default/files/econo...

This article is pretty good read as well about Tampa Heights, explaining the cities approval of funding for major projects along the Hillsborough river, near the University of Tampa. http://www.tampabay.com/news/business/realestate/t...

I would also keep in mind Lakeland in-between Tampa and Orlando. It is an up and coming area for sure.

Best of luck in your future investments.

Gaurav, have you had any luck finding a good source of rental properties to look at? I have also been on a constant search for rental properties in the Tampa Bay area. Many of the homes i find on the MLS are just priced too high.

@Gaurav Patel We can assist with the entire process of finding and managing your investment properties. If you are already working with an agent we will partner with them during the buying process. We are highly rated and work to assist our local, out of state, and out of country investors to make informed decisions based on our experiences with other properties in the Bay Area.

Is it too late to invest in the tampa area? It seems like prices are in sync with the market now.

@Rik Patel it is never too late. You need to have a good partner that can find you the right deals. We have had great success with assisting investors find the right deal in the Tampa area. The good deals usually go really quick and a good investment agent can analyze and get you on the right track quickly and professionally. 

Tampa is Growing! 

Many projects are ongoing right now, but some of the largest are set to have a huge impact on the way things are done, and what people enjoy about the city. Here are a few of the most notable projects in the works that are set to be completed within a few years:

Sparkman Wharf: The rendering of the new Sparkman Wharf shows it will be a modern outdoor park space with plenty of shops, outdoor eating areas, and other small attractions. One of the main highlights is meant to be the large outdoor biergarten. This project is near its completion and should open up in late 2018.

Water Street Project: This is a public project that will help to connect many of Tampa’s attractions and facilities together via walking paths, 13 acres of public park, gathering areas, and other outdoor infrastructure. Other privately funded buildings are also being constructed around the area. Tampa’s first 5-star hotel is being built as part of this project.

Ybor City Stadium: While currently delayed because of funding, this new $890 million stadium in Ybor City could be the next home of the Tampa Bay Rays. It’s set to be a gorgeous modern stadium with a clear glass roof, fantastic pedestrian areas, and sliding glass walls. If plans can be made for the Rays to adopt the stadium, it could be finished by 2023.

Midtown Tampa: Located just between North Dale Mabry and I-275, this multi-use project features a variety of open spaces. Plans include office spaces, residences, retail shopping areas, restaurant spaces, and entertainment venues. So far, the biggest commitment has come from Whole Foods, which plans to occupy a large retail space as the anchor store. The project is set to open in 2021.

St. Petersburg Pier: With the demolition of the old St. Petersburg Pier, the new pier is now being constructed. From renderings shown in the virtual tour, the pier is likely to contain entertainment spaces, park space, and more. Construction is set to be finished sometime in 2019.

Gateway Express: This tolled highway will help to ease traffic moving around Tampa, while making it easier to get to some of the major spots in the city. From the Gateway Express, you’ll be able to access the new St. Petersburg Pier as well.

Take Away

Tampa is in the midst of large-scale change. Within the next 5 – 10 years, the 6 projects listed here should be completed. Tampa’s virtual tour of the future shows an attractive picture of what the city could look like, which may help you visualize it better while the construction is still ongoing.

Are there areas where there are good homes to flip? What do you recommend buying out there? and would it be buy n hold?

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