Source Off-Market Deals

9 Replies | St. Petersburg, Florida

Hi everyone. I'm new to this and looking to invest in St. Petersburg. However, I live in S. Florida and have limited ties to the area. I'm looking to purchase a SFH for BRRRR, with a cash offer. Ideally it will be 200k or less. Does anyone know how/where I can find off-market deals? Thanks!

Hi Carlos! Welcome to BP and starting your REI journey.

Although I'm not in that market (I invest in Kansas City), this would probably apply in almost any market. I'd suggest you searching for keywords on facebook "St. Petersburg real estate/real estate investing/off-maret, etc". Also literally google "st Petersburg off market/off market deals/wholesaler, etc" and get on as many as you can. This would probably be a good start.

Originally posted by @Young Park :

Hi Carlos! Welcome to BP and starting your REI journey.

Although I'm not in that market (I invest in Kansas City), this would probably apply in almost any market. I'd suggest you searching for keywords on facebook "St. Petersburg real estate/real estate investing/off-maret, etc". Also literally google "st Petersburg off market/off market deals/wholesaler, etc" and get on as many as you can. This would probably be a good start.

 Thanks a lot, Young.  I'll get on that right away!

You are going to need someone who can walk the properties for you and you are going to have to get comfortable buying without inspection and/or sight unseen. It’s really competitive right now.

@Carlos Haag

Carlos I am a licensed Realtor specializing in the St Pete area. I work with buyers and sellers in the distressed market. I would love to assist you with any of your real estate needs in St Petersburg and the surrounding areas.

@Carlos Haag as others have mentioned, it's extremely competitive right now in the Tampa Bay market. Your best bet is going to be getting on wholesalers lists and start evaluating the deals sent your way. If you want to buy one, just know you'll need to put up a 5k non refundable deposit, be able to close quickly, 0 day inspection period, and cash or hard money only. On top of all that, I'm personally not a fan of wholesalers deals for the main reason being they overestimate the ARV and underestimate renovation costs.

@Luke Rorech … not feeling love for most wholesalers in TB for all those reasons PLUS building such a huge fee into a deal that their ask is over retail, often ‘iffy’ areas. worrisome.