Hello BP'ers in Florida. We are fairly new to BP, but have have been Real Estate Investors here in Richmond, Va...where we live. We have been studying various Florida markets to determine the following:
1. A good market to relocate
2. Good Markets to invest (Flips & Buy/Hold Strategy) to start.
We are going to be in town (Clearwater, St. Petersburg, Tampa) this weekend on our 1st "boots on the ground" scouting trip. We have family in the Tampa local area as well, but we want to begin to get the lay of the land ourselves to determine our personal level of comfort. We "think" we like the West Coast, but are not totally closed to the East Coast and other Florida Markets. We plan to explore/scout other areas on subsequent trips.
We will eventually need the services of an "Investor Savvy Agent" as we begin this endeavor. To start we will be looking at good, safe neighborhoods in an effort to determine where to initially transplant from Va. Any advice on areas, open houses, etc., to scout this weekend, as well as restaurant recommendations would be greatly appreciated.
This local (Tampa, Clearwater, St. Pete, and surrounding) area is a great place to both live and invest in. Each area has it's own little flavor and appeal, so you can always find pretty much anything you are looking for property wise. Are there any particular guidelines you are looking for (ie; waterfront, closer to a downtown aread, 3/2, 3/1)? If you know that, it will help to narrow down which areas to focus. If you have any questions, or need some extra info, don't hesitate to ask.
P.S. Bern's or Charley's Steak House are great places!! And of course, you can find some amazing seafood places throughout the area.
Shane...your response is much appreciated. All of the questions you raised that help to define our criteria are great...all the more reason for our scouting trip. Its one thing to be waterfront, or closer to downtown, but we really need to see what that looks like as it relates to dollars spent. In terms of dwelling size, we need at least a 3/2...based on the size of family and "stuff" that comes with us. Mrs Christian is the one who has the last say in level of comfort with the area...she absolutely must have the warm & fuzzy when she thinks about where she lives. Having said that I am prepared to just allow her to give me the thumbs up, when if feels right. Let's not mistake that for our having little regard for fiscal responsibility...she is more conservative than I am...and that is saying something. But we both are willing to pay for what we really want. So...if I had to add to the criteria...I would say we want to be fairly close to the water...that should not be a commute that requires a great deal of planning to pull off.
Following. We live in Vermont now, but hope to make our next investment in the ST.Pete, Madira Beach, Clearwater area. We've been vacationing there for years and love the area, but the prices seem high for investment/fixer uppers. We're in the research phase of this transition and hope to learn from people who know that area.
@Krystina L. - We will be sure to share our findings as we embark on this journey. We will certainly be looking at the potential investment opportunities as well...as our investment strategy is long term. Where we will be considering investment opportunities in our village, that doesn't necessarily dictate where we invest.
Hey @Larry Christian , I am glad to see you are looking to invest in this fast growing Tampa Bay market! I am originally from Charlottesville, VA and have lived in Florida for about 5 years now. I know for sure the weather down here is a lot better than Richmond right now. If you are down the the area and have any questions at all about the market, or hot areas to invest in I would love to chat.
Keep me posted on when you come down this way. I'd love to see chat with some Virginia folks.
@Colin Mooney Will do Colin...Thanks in advance for your willingness to assist. We'll keep you posted on our progress.
@Larry Christian It would be best to look at the available inventory and maybe some current projects in the works. I have a couple of projects being rehabbed, so you ever want to stop by, PM me and I would love to show you what we have going on. Hope you both enjoy your trip. Much success to your investing endeavors.
I had a long response typed out, but scouting advice seemed foolish if you've already made your trip.
How did it go?
What would you like to dig deeper into?
What surprised you about the area?
How does it fit with your expectations and strategies?
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