Hello folks! I am located in the Orlando area, but have been doing some searching for SF and MF properties in the Tampa area. I work throughout the entire central Florida area, but am unfamiliar with the real estate market in Tampa. My focus is buy and hold with cash flow being the priority, and a mix of cash flow with appreciation being a close second depending on market. The always intriguing BRRRR method is also my focus. I would greatly appreciate any input and advice regarding search locations and local market trends, etc. I am also always interested in networking with like minded individuals. Thanks in advance for the help, and I look forward to networking with you all.

Trae,

I love the Tampa and St Pete area. I think there is more opportunity in those two areas for the multi family
I also think that Pasco County is growing like crazy because of the lower price points, lower taxes and ease of getting back into Tampa on the Suncoast Psrkway

Are you in the market to buy? If so, what #'s are you looking for and how serious are you about a purchase in the area?

@Kim Meredith Hampton

Thank you for the intel! I will definitely look into Pasco County opportunities, as well as the St Pete area. Have you found some multi family wins in the St Pete area?

@Jeremy Kloter

Yes. In the market to purchase, strictly to establish and grow a rental portfolio. Im open to SF and MF units, with the ability to bring in partners if it makes sense. Same perspective for me as a sole investor.

The BRRRR is my favorite strategy! For anyone reading that may not know what BRRR is, it's a term coined from BP. It means BUY REHAB RENT REFINANCE REPEAT. Getting a property at a discount, adding value through renovation, getting tenants and showing the bank a "seasoning period" then pulling your money out via refinancing allows you to get back potentially all if not a profit from that deal, and go find another one. And oh not to mention you've added a cash flowing asset to your portfolio. Everyone wants the big hits from flips, which is looked at as the sexier REI. But, wealth is made from cash flow in rentals. Would love to help you find multis and more buy and hold opportunities!

as long as you are to TAMPA I would keep going and look at south side of st Pete 

@Michael Plante when you say "south side of St Pete", where exactly are you referring? South St Pete, or Bradenton, Cortez?

south St. Pete

OP @Trae Turner do you have your funding in place ready to buy sf fixer upper? 

I have fixers here and there and need more Tampa buyers. I have 3 buyers consistently so far but they buy one at a time, understandably so. Contact me if you are buying and have cash ready! Right now I have one in South Tampa and one of my guys is too busy on another fixer that he passes on this one. 

I have been looking at the tampa area and I see a bunch of condo which cap rate ( after RE taxe and HOA fee) are around 10% ( priuce point if around 90k).

What do you think of these kind of opportunities ? Isn't it better ( from a management point of view) than a SFR with the same cap rate ?

Thx

@Florent Cohen a lot of the investors I work with are choosing single family homes due to the appreciation expected in the Tampa Area over the next few years. 

@Reece Register thamk you for the quick feedback. I understand that argument but except capital gains which one makes more sense form a cash flow point of view ? I see a lot of Single family advertise as 10% cap rate but once you take into account insurance/ Capex for future repair etc i think it is closer to 6%/7%.

Whereas for a condo I don't see the  expenses to add up and deteriorate the cap rate to 7%. Am I right or am I missing something ?

@Florent Cohen Yes single family homes are in the 6-7 range. The condos I have worked with have been around 5% due to condo fees and lower amount of rent. There are so many apartment complexes being built that makes the single family home an affordable alternative. All will depend on the exact fees the condo is charging and location. 

@Reece Register I am actually looking in Clearwater/ Sty Petersburg. What are your thoughts about this area ?

Originally posted by @Florent Cohen :

@Reece Register I am actually looking in Clearwater/ Sty Petersburg. What are your thoughts about this area ?

I do alot of deals in that area. Cap rates can be higher on condos, however you have rental restrictions in many of them. In many of the 55+ communities you need to own for a year before renting.

Yeah, beware the HOA. With a single family you have some options to be creative. I own a condo in Tampa which, if I could AirBnB it would make me great cash flow, unfortunately, I am locked into a minimum 6-month rental cycle, which pushes the property into the red (also due to the incremental hikes on the HOA fees).

@Damon D. tell me more about your condo and can you sell retail ? 

Have you looked at Ocala? It is getting a lot of interest from investors also.  

It was named in the Top 10 metros for future job growth by Forbes magazine and I'm told that Ocala is the only city in Florida to have made the list five years in a row.

Well said Mary!