Wife and I are moving to Tampa, FL

5 Replies | Tampa, Florida

Hey BP family! 

  My wife and I are moving out to Tampa around December to January timeframe, and will be investing in small multi family rentals and SF rehabs in Florida. I will be obtaining my Florida RE license soon, and wanted to know if anyone knows where I may be able to find any off market deals; as I am aware multi family inventory is low. I have been analyzing the Tampa market, the zip-code I am currently interested in appears that about 48.4% of the population are renters, USF, Busch Gardens/tourist attractions, good shopping areas, Tampa International Airport, median income of $37,534, white collar and jobs, and according to City-Data the crime rate index is slightly lower than the U.S average and has decreased over the course of 16 years, however, I find it clear there are higher crime areas in the city. Therefore, all of these factors are highly interesting to me. Ive also done a comparative analysis and it seems Port Saint Lucie has a higher percentage of mortgage owners (approx. 70%) when compared to Tampa, and a population growth (since 2000) of 160.89%.

Presently, my primary focus is to acquire a 2-4 unit property that I could rent out before I use a HELOC for a rehab in the PSL area. I am looking for C and B areas, with D or C buildings that I can fix up into B properties. I am actively in the process of paying down my DTI ratio IOT make myself more attractive to lenders (debt free in 4 months). I pride myself in being new, am eager and hungry for knowledge, any help or advice I would be truly grateful for. Thank you =)

-Respectfully,

Frankie