Looking to BRRRR in Jacksonville, Tampa Florida

Member since 2023 · 2 posts · 4 votes

Greetings, BP community!

I'm a novice investor with plans to execute the BRRRR strategy in the Florida region. I'm currently contemplating a relocation to either Jacksonville or Tampa, Florida. I'm eager to establish connections with like-minded individuals to form my ideal team. My focus is on single-family residences (SFR) and multifamily properties (MF) valued between $100,000 and $150,000. I'm prepared to make all-cash offers with substantial earnest deposits.

I'm interested in reaching out to real estate agents, wholesalers, and property managers in these areas who can assist me in discovering lucrative opportunities.

Best wishes,
Khassangali.

4 Reply

62 views

Most Popular Reply

Greg Downey

Lender · Springfield, MO · Member since 2015 · 379 posts · 180 votes

Khassangali, welcome! I've got a good amount of clients in that area. I'd be happy to connect you with one of the agents that I met at BPCON this week. She is sharp and right in the mix of those areas. Drop me a DM and I can connect y'all.

One thing that I'll pass on for that area is don't be surprised by insurance rates. They are high right now and you need to make sure you are using the correct numbers for your internal underwrite. I have a lot of folks call in who are using numbers that are just simply not realistic for 2023. So make sure and call a local insurance agent and get a feel for those numbers as they are impactful

3 Reply

See this reply in the discussion

13 Replies

Jump to latestLatest

Sort by

Greg Downey
Lender · Springfield, MO · Member since 2015 · 379 posts · 180 votes
2y
Khassangali, welcome! I've got a good amount of clients in that area. I'd be happy to connect you with one of the agents that I met at BPCON this week. She is sharp and right in the mix of those areas. Drop me a DM and I can connect y'all.
One thing that I'll pass on for that area is don't be surprised by insurance rates. They are high right now and you need to make sure you are using the correct numbers for your internal underwrite. I have a lot of folks call in who are using numbers that are just simply not realistic for 2023. So make sure and call a local insurance agent and get a feel for those numbers as they are impactful
3 Reply
Devin PetersonBusiness Member
Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 667 votes
2y
Hi Khassangali,
Happy to connect with you at any time. Im local to those markets in Florida and there are a ton of great investor groups and meet ups that support your mission.

[email protected]860-538-3672
ProAlpha Capital56 Reviews
Website View Page
1 Reply
John O'LearyPro Member
Lender · Winter Park, FL · Member since 2021 · 738 posts · 412 votes
2y
Hello Khassangali,
I am located in Orlando FL, and very familiar with both the Jacksonville and Tampa markets. The important thing to consider when looking to BRRRR in Florida is making sure you thoroughly underwrite the refinance at the time of the purchase. The FL market has gotten expensive, and with the current high rate atmosphere you want to make sure the property will cashflow especially if you're needing to use a DSCR loan. If you need help connecting with any of the wholesalers in those markets feel free to shoot me a DM. Good luck!
[email protected]800-663-4122
2 Reply
Mindy Nicol
Realtor · St Augustine, FL · Member since 2023 · 111 posts · 87 votes
2y
Hi Khassangali - These are great markets. I can help get you to the right people in Jacksonville. My lenders understand investors and can certainly help as well. For your price range of $100-$150k these would likely be fixer uppers and may need to do some work to get them to rental condition. If you really want those prices, I'd also suggest you look at smaller towns that are underserved with rentals and where those prices will work with no big reno needed. One example is Palatka, where you can still find affordable homes and it is close enough for tenants to commute to St Aug or Jax. I also have great property managers as well that are great for intel on where the market is underserved. Best, Mindy
1 Reply
John K.
Lender · West Palm Beach, FL · Member since 2017 · 306 posts · 122 votes
2y
Hi Khassangali,
Welcome to the community! You have a great plan in place. For cash offers in the 100-150k range, you'll have more options in Jacksonville than Tampa. Make sure you have ample cash left over for the renovation as well. Feel free to reach out with questions!
1 Reply
Jorge VazquezBusiness Member
Real Estate Broker · Tampa, FL · Member since 2017 · 1k+ posts · 693 votes
2y
Hi Khassangali, I have been actively investing in both Tampa and Jacksonville for the past 20 years and would be pleased to offer assistance based on my extensive experience in these markets.

In Tampa, I've noticed a promising trend, particularly in neighborhoods that represent the "higher end of the lower end" market. There are significant potential deals here, especially if you're looking for properties with the prospect of appreciation and solid rental demand.

Jacksonville has proven to be an excellent market for low-income housing investments. However, it's crucial to navigate this segment with a keen understanding of the local dynamics. My success in Jacksonville includes purchasing an entire street of properties for under $500,000, which illustrates the type of opportunities that can be found with the right approach and knowledge.

Both areas have their unique advantages, and I’m open to sharing insights and strategies to help you find the best deals and build your investment portfolio effectively.
Graystone Investment Group517 Reviews
Website View Page
0 Reply
Dillon Cook
Realtor · Greater Tampa Bay · Member since 2014 · 219 posts · 130 votes
2y
You can't get a distressed house or duplex in tampa under 150k. Maybe a 1 bed bungalow in a bad part of town.
1 Reply
Zoerene A Mitchell
Realtor · Tampa, FL · Member since 2018 · 27 posts · 13 votes
2y
Hello Khassangali, I am a Wholesaler/Investor. Happy to help within Tampa and surrounding areas as you can find a good deal with time, let's connect and dial in more on your "Buy-Box".
0 Reply
Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
2y
Flipping in any area can work so long as you buy right and be efficient with your rehab process.

I would pick an area that you know more.
[email protected]917-280-8544
Basit Siddiqi CPA4.979 Reviews
View Page
1 Reply
Kayla B.
Member since 2023 · 2 posts · 0 votes
2y
0 Reply
Logan Lambert
Lender · Kingsville, MD · Member since 2023 · 103 posts · 35 votes
2y
Quote from @Khassangali Gapparov:

Greetings, BP community!

I'm a novice investor with plans to execute the BRRRR strategy in the Florida region. I'm currently contemplating a relocation to either Jacksonville or Tampa, Florida. I'm eager to establish connections with like-minded individuals to form my ideal team. My focus is on single-family residences (SFR) and multifamily properties (MF) valued between $100,000 and $150,000. I'm prepared to make all-cash offers with substantial earnest deposits.

I'm interested in reaching out to real estate agents, wholesalers, and property managers in these areas who can assist me in discovering lucrative opportunities.
Best wishes,
Khassangali.

Hey Khassangali,
That is awesome you are expanding into that market in Florida. I would love to get connected with you and help scale your business. I work for Beltway Lending and could help with 30 yr loans.
2 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.