All Forum Posts by: Jeff Morelock

Hi Rita

The rental market is on fire right now. It is hard to find a decent place to rent, which is great news for you. You're on the right track by thinking about duplexes, but depending on your financial resources, you may want to consider Triplexes and quads too. They really are not that much more expensive or hard to manage than duplexes.

You can get the most bang for your but in Pasco county when it comes to duplexes, triplexes, and quads, but you have to be careful when picking the neighborhood. 

You'll spend a little more money on something in St Pete, but its where everyone wants to be. Rent rates keep climbing, and inventory is low. This is especially true the closer you get to downtown St Pete.

I've seen some good duplex/tri/quads available in Dunedin recently, as well as some in Largo. Let me know if you have any questions. I'll be happy to help.

I have a listing I am selling in the Tampa Bay Area (FL) that my seller rents out monthly. She uses VRBO exclusively and quite successfully. She swears by it, but as others have suggested it is a good idea to use both. 

Hello Karol

Have you considered moving up to multi-family and apartment building investing? 

The Tampa Bay single family market is super competitive right now and margins are shrinking. If you're a buy and hold investor, multi family is the way to go - especially in Tampa Bay because the rental market is awesome (if you're a landlord). 

I focus most of my marketing efforts on finding off market multi-family properties and apartment buildings, so let me know if this is something you'd like to discuss further.

Hello Jeff,

What part of Florida did you relocate to?

When buying in Pasco make sure to check the county building permit website for past sinkhole and foundation repair permits. I have clients that are currently making a killing in Pasco, but we've had to be very diligent in not only checking the county sinkhole permit records, but also looking for sinkhole activity that had not been reported or repaired.

One the other hand, (or other side of the sinkhole) buying a repaired sinkhole house to keep for a rental is a great strategy if you're a cash buyer. You'll get a huge discount when you buy the property, but you can still rent it at the market rate. Rental rates are sky high right now, so buying repaired sinkhole properties and renting them out is a strategy many investors are having huge success right now.

Brian

Some are better than others but thanks to the rehabbers kicking *** in the Tampa Bay, there are several new neighborhoods that can be considered as emerging. Send me a PM with your price range and property preferences, and I will let you know what neighborhoods fit.

Hello Gregory

You're right about the Tampa Bay market. Rents are through the roof 2/1s are going for $950 per month in decent C areas, and much high in A and B multi family properties.

Let me know if I can help

I have clients as far away as Italy that use this strategy in the Tampa Bay area. Rents are through the roof right now so buy and hold cash flow is great. Let me know if I can help.

HI Chris

What's the address?

There's no reason you can get into both at the same time. I have my license and it allows me to collect commissions on deals I may not want as an investors, and it sometimes adds commissions to deals I am looking at as an investor.