Hi all, I'm staying with a friend in Tampa until I find an investment property. I'm interested in buying something cheap, fixing it up, renting it out, and selling it a couple years down the road. I've been told certain areas are on the rise. I want to narrow down my search so I don't waste time, since Tampa is so big. Specifically, I was told 33602, 33603, 33604, and 33605. I'm also interested in other areas such as St. Pete.
Are those areas on the rise? What other areas are?
So you are talking, Seminole Heights and, Sulphur Springs. That seems to be what investors look for in Tampa. However these are extremely competitive markets and different markets as well. If you are looking to buy and hold I would say that Pinellas Park and Ybor areas are good to have rentals. But again all of these markets are different. For instance in Sulphur Springs you might find better candidates for Section 8 rentals or there could be tenants that will pay cash only. So ask yourself, do you want to deal with that? or would you stick to better more desirable areas like Seminole Heights where you get more high end tenants. Its all about finding your niche and sticking to it.
You should try a bit further south. 34239, 34233, 34275, 34285, and 34292 in Sarasota and Venice are good areas, with less competition from other investors.