All Forum Posts by: Josh Green

@Armand Dufrane

Hey Armand, I would recommend the Tampa Bay area for a lot of different reasons - but in general because it offers:

-high growth and appreciation projections

-two cities with many attractions and visitors

-mild seasonality, more stable income

-good cash flow, low acquisition cost generally

-exit strategies: not too uncommon to be able to buy a SFR and it still able to cash flow day 1 as a LTR.

There tend to be two sweet spots: sub $350k and the lux space (over $800k typically) that cash flow well here. Generally over 70-80% annual occupancy and like I said, a lot of flexibility as far as exit strategy. To your question earlier: yes you will sacrifice a lot of cash flow if you buy a property intended as a STR and pivot to LTR.

@Patrick Zientara

I do a lot of STRs and other residential investment property here. Feel free to reach out!

@Eric Eckl

Great list and additions by those above. A couple more things to look into:

1) security cameras (outdoor). I like to buy the ones that are wireless (easier for self install) and do not have a subscription plan for video recording on the cloud.

2) consider placing decibel readers within the house to detect loud noises (parties) past quiet hours.

3) depending on the property or your portfolio, might be worth looking into direct bookings marketing

Quote from @Dan Maciejewski:

Quote from @Nazanin Boojar:

I just realized that the housing growth was insane in Florida this year. I feel wasted. If I invested in the market, I’d get a 38% return on my investment. 🤯 Is this for real?

Yes, it's been a few years of crazy appreciation in many markets in Florida.  Most people think that the "crazy" numbers are done and that we should settle down to a manageable number.  Depending on the market segment, at least in Pinellas, you can still see homes listing above what they "should" appraise for and selling 5-10% above that.  Other segments are seeing things settle to almost balanced market conditions.  Price reductions are back in those segments!

Gone are the days you could buy any shack and sell it 3 months later for an 8% profit, though. I would definitely not purchase thinking you could get a 38% ROI on appreciation alone!

As Dan mentioned, I would never recommend speculative short-term investing like buying a property and expecting a big return by just throwing it right back on the market no additions done to it.  There's been a window where that was possible, but no one could have predicted what real estate was going to do the past couple years and still can't predict what will happen in the next couple years.  Time in market > timing the market and true wealth in real estate is built through long-term strategies. 

On a side note, I wouldn't be surprised if the Tampa area leads all metro FL cities and is in the top 10 over the next 10-15 years for average annual appreciation in the US based on the STILL affordable prices to amenities ratio and business/population growth outlook.  This is just my opinion as I've experienced a top 3 metro the previous decade in appreciation in the country and I see the same/better outlook for the greater tampa area for the next decade.

Quote from @Matt Sora:

Is Tampa a good area to start investing for multi family??

 As mentioned above - what do you define as "GOOD"?  While the market has been competitive (2022's hottest market!), there's many investors that would call the greater Tampa area a GREAT place to invest.  Outlook over the next decade or so look very positive here as far as growth, appreciation, etc so yes, I would say Tampa is a great place to invest long term.  What's going to be the important factor is the subject property you actually find.  You can find a good investment purchase in essentially any market/metro - good or bad.  You can also find bad investments in any market - good or bad.  Depending on your situation, your goals will vary and that's where a good mentor or realtor can help you determine.  Feel free to DM me if you'd like to discuss what that may be for you and how I can help in the Tampa Bay area to get you there.

@Radley Buxton I would highly recommend @nick Velez above. He has done a few deals with me and you won't find a better lender out there

Quote from @Keanna White:

Hi guys,

We are new here but name is Keanna, I'm 27 years old and my husband's name is Leonard, he's 28! We are two travel nurses that are looking to eventually replace nursing with real estate!

We purchased our primary home in 2019 in Brandon, FL and paid it off this year! While traveling for work, we rented out our home (besides our bedroom and garage) and had incredible success. We recently took a heloc out on our home and purchased our first investment property in Merritt Island FL for $70,000 and the rest through a promissory note with family. We have $290,000 cash remaining and are pre-approved for 400k. We have 800+ credit scores, debt free, and ready to continue buying properties!

We are looking for a solid team-- Realator, CPA, and a mentor that could guide us along this journey.

Any insight/recommendations would be greatly appreciated!

-Keanna and Leonard

Hey Keanna! I do different kinds of investment property here in the greater Tampa Bay area. As you know, there's so much opportunity as the area provides world-class amenities that attract thousands and thousands both long-term and short/mid-term. I'd highly recommend you looking into STRs and I can definitely help you buy an STR in all cash that will generate $50k/yr in revenue. After expenses, you'd essentially net $40-$45k/yr or, if you want higher COC returns, you could buy 2-4 STRs and be netting the same or more a year and capture appreciation across 2-4 properties and have a little empire here. A few years later, who knows how much you will be able to then leverage from these properties and likely replace an entire income of yours from passive cash flow!

Quote from @Louis Louisius:

I definitely don’t want to leave my home and use it as a rental. A vacation home also requires that I live in the property at some point throughout the year

Hey Louis, what's the goal with the property? I'd be happy to look at the numbers you're estimating and see if we can't find something better? What's the HOA's stand on using it as a rental? I deal with a lot of out-of-state investors as @Nick Velez just mentioned and I can't say I'm not skeptical at buying a townhouse in Wesley Chapel as an investor but I am open to being corrected!

@Tori Magers sent you a dm 👍🏼

@Donna Simpson

What market is going to be your first step. I do the greater Tampa Bay area and right now is a Greta time to buy as we head into the peak season.