All Forum Posts by: Roland Charles

Hi Sharoon,

Tampa is a great market and there are certainly some opportunities in areas that are up and coming. I will private message you with my contact information so that I can give you some background on the opportunities.

Hi Felix,

There are some great opportunities in Tampa & the area between Orlando like Lakeland. I have several Active Duty Personnel who invest in this area. We can connect and I can provide my thoughts on these area.

I manage several properties in HOA's. Some are short term rentals and some are long term Rentals. The key is knowing what is in the governing documents. It also would not hurt for you to get guidance from a property manager that has experience in that space.

Hi Marisa, I can connect you with a good insurance agent in the Tampa Bay Area. I will Direct Message you.

Almost anything is possible in Real Estate. You just have to ask! I will direct message you for your contact information and I'll get you connected with some lenders in Tampa that may be able to help

Why does your broker want 25% down? Are you open to working with other brokers or getting a second opinion? Have you explored if seller is willing to hold a note for 6 months to a year for the amount necessary to get the deal closed?

Regards,

Roland

Hi Eric,

I personally have mixed feelings about Ybor City. As a property manager, I don't have any rentals in Ybor because I don't really think that's where I would like manage. However, I don't fault any investor who wants to explore that area. From my perspective, I look at it from several angles. 1. As an investor, you have to determine your risk tolerance and evaluate whether that property and neighborhood fits. I know plenty of investors who focus only on low income communities and "war zones' that are very profitable. Is that you? Others, like high end properties. Is that you? Personally, I like properties valued from $100k - $300k because I can use the 1% rule because I like tenants in that price range. I also like areas with great Anchors like malls, universities, hospitals, and iconic places people like to be close too. In terms of Ybor, that is a HISTORIC neighborhood all by itself so while it is a risk, I can see great reward if the neighborhood turns around. It would have been even better if the Ray's actually moved to Ybor. That would have made that area super hot!

Having said all of that, my advice to you would be to evaluate it from a risk tolerance perspective and identify the anchors that will make it a good long term rental. If the numbers work, and you have those other aspects in alignment, you should be fine. If you want to talk further, DM me.

Sure. Direct message me any time

I think it's really about location. I've lived in Memphis for years and there are spots where you can find that value and there are spots where you may not get the same return like Germantown which is a suburb of Memphis. Currently I'm in the Tampa Metro area and there are some spots with great value. For example, the university area near USF has been rebranded uptown and there are a lot of opportunity to buy undervalued homes that are in an appreciating area due to the opportunity zone funding that is being invested in the area. Look up innovation Tampa and Uptown Chamber of Commerce for more information and you can always reach out to me if you have any questions.

As a property manager in the Tampa Metro Area, I would say that you can find that same challenge here in Tampa where the rents are $1000 and the value of the property is $250,000. As a matter of fact, I am managing a property where the rent is $1,400 and value is $273,000. My point is, as with real estate all over the country, it is all about location and finding the best deals in a good neighborhood. The best deal will be different depending on the situation. For example, if you have a $400k home with no mortgage and the rent is $2000, you'll be cash flowing really well. So I will say, focus on the location and what the numbers tell you. I hope this helps.