All Forum Posts by: Steven Hassett

@Karina Seidel I love St. Petersburg but I am a little biased because I live here. Most homes here were built in the 50s and 60s, so older. Many still need renovations, leaving lots of room for the BRRRR process.

Many "Experts" are warning of a crash, but with the amount of cash/out-of-state buyers/regular people that need homes, I think housing here will be in high demand forcing 10% to 15% appreciation for at least two to three more years. 

I would either go 5 unit like Johnathan said or I would go single family and ride the massive appreciation wave in Tampa bay!  

I am over in the Tampa/St. Petersburg market and would love to connect!

Hey Cameron, 

I am very familiar with the multi-family market in Tampa/St. Petersburg. I will send you a message.

Good Evening,

From my experience there isn't too much difference here, some cities take things like code violations much more seriously than the counties do. It also changes who does your sewer/water/trash as well. 

Hey CJ,

A large part of the problem is finding land that is zoned for multi-family housing/finding a builder willing to stop making crazy money building single families to transition.

I will send you a PM with another idea!

Hey Brandon!

I was just looking at a similar property for a client, I think you would have to run the numbers and determine what the cap rate would be at that sales price to determine if the value is there.

Since it's an 8 unit (Over 4 unit) property you will need commercial financing (generally 25+% down). 

I have a great contact if you would like to speak with him. 

From the situation presented it seems like you might need a partner to jump into this deal.

I'd love to connect if you have any questions.

-Steve

Hey Carlos!

I’m in St. Petersburg and pay attention to off market properties. I can get you into the right Facebook groups and email lists.

I always use Acusystem Home Inspections for my clients. Ask for David and let them know Steve from Spartan recommended them.

@Robert Olivar Clearwater is definitely a hot area right now!