All Forum Posts by: Aaron T.

Mike,

you could subdivide the water with a meter at the water heaters, but this building only had two water heaters for the 4 units on the east side. (unless I missed the other two). or you just factor in water in your expenses. I pay around $100 for a duplex on Tampa water.

My opinions of this place after I walked it this weekend is still its good for a tear down and new construction. The building is all stick, and the floors are like a fun house up/down. this could mean significant structural issues, or a lot of down time trying to fix these issues. it also needs a roof and lot of minor repairs to get it up to standard for this area. Honestly if it had block construction, and good bones, it would be worth it. The last owner probably knew about the problems and knew it was not worth the fix, so they waked away...I could be wrong too.

A SFR would sell in this area for 500k+, so good on numbers there. or a new 4 unit building with 2/2 set up on each would bring in $1500+ a month per unit and make sense there as well, you just have ot watch out because there is not a lot of parking on that street.

I just went by there. Its not worth it for rental or to put any money into it. It's a good tear down for new sfr.

I would buy it @260 with a FHA >10k out of pocket, live in one unit and then fix it up a little myself, raise rents. maybe if the market is still up in a few years, tear it down and build a Big SFR. That area will never go sour.

good find. that is right down the street from my duplex. the land alone is almost that much money. that area will support $900+ 1bd rents. I get $1450 for a 2/1 800sqft less than a mile from there.

Palma Ceia is hot right now and always will be. even if you kept it for a few years, you can tear it down and build a 7figure house on the lot. happens daily in this area.

Joyce,

Welcome to BP.

Steven,

Where is the land located? what is it zoned for?

make sure what you buy is buildable. Some land is not buildable and worthless because of a number of reasons. You may want to talk to a contractor, understand the zoning laws, and double check everything with the county.

Shoot me a PM. we buy vacant land in the Tampa area.

the more common area in Tampa for this criteria is East Tampa district. Each street is different, so its worth it to take a drive of that area to see first hand what you can see as potential and what you will eliminate.

you may also consider the type of neighborhood you are looking at to get cash flow. You can make more cash flow in less desirable neighborhoods and tenants, but have more expenses, turn over, etc...

more often better classes of town will be harder to make good cash flow.

I painted one down in the Apollo beach area. looked real nice.

Body: Homestead Brown (SW 7515)

Trim: Natural Tan (SW 7567)

Accent: Tricorn Black (SW6258)

Welcome to BP. I am in the Tampa area and have a rental just one exit up from Sun City Center. I know a real motivated realtor that works that area if you are in need of someone like that.