I'm from North NJ.. i've saved a lot and cap rates here blow..
I thought of Columbus, OH given it sounds like I've missed the boat on Dallas/Atlanta/Austin so decided on Tampa given the weather.. I heard great things from Orlando, but always have been a beach guy.
Please school me on the parts of Tampa vs Downtown St Pete's vs Clearwater or are they so close in proximity that one doesn't differentiate.. I know here in NYC, midtown East vs midtown West despite being only a few blocks have totally different vibes and attract different tenants.. i looked at some stereotypical maps (unPC, i know) and would like to be close to Asians & gays.. is this downtown St Pete area? I'm single and will probably move there so don't care about school districts.
I'm interested mostly in cash flow, appreciation & walking to the beach is secondary, as much as I'd like the latter.
There was a story of flesh-eating bacteria a couple of months back in this area, but it seems to have been a one-off case.. is this something to worry about.? Danke.
Fellow New Yorker here and I know exactly what you mean in regards to different “vibes of areas”. Certainly is the case down here as well, All there areas you mentioned in the Tampa Bay Area all have different feels and are so large individually, they all have sub areas that are all different from each other. I’ll pm you and I can answer any questions you have!
Here's a different take for you...Tampa is ranked 2nd in year-over-year rent increases nationally. Jeff Vinik and Bill Gates made a $5 Billion dollar investment in the Channelside/Downtown district of Tampa to enlarge the entertainment venue and jump start an innovation business sector there. That investment alone has/is drawing professionals and companies into the South Tampa/Downtown market where rents are already some of the highest in the state. Inventory is extremely tight here because of the demand. Walking on the beach? From South Tampa, the bridges make the commute a pleasant one. But we're not land bound either...one look at a map shows that Tampa has it's share. What Tampa avoids more often than Pinellas County? Flood Insurance. And, flood insurance is far from a cheap date.
Also, there is no state income tax - but insurance and property costs are some of the highest.
I have investor clients throughout Greater Tampa Bay and it's a great market - the whole enchilada. Ignore the trash talk...what drives the investment location is "the opportunity" - the one based on what you want to achieve. Our population is diverse; if you can't respect everyone, this isn't the place to be. So-o-o, know this: it's a great place to live, work, invest, and play.
No flesh eating bacteria included.
Solid post 👌🏻
@Mike Kalob have you thought about Dayton, OH? Let's talk!