New to BP Community and Tampa, FL Area

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New to BP Community and Tampa, FL Area

Nick Narine
Tampa, FL · Member since 2021 · 2 posts · 2 votes

Hello Bigger Pockets Community,

My name is Nick Narine and I am a 25 year old, civil and environmental engineer. I am looking to start real estate investing in order to gain passive income and invest in my future. I am using this post in order to start my networking process in this area. If there are any community members in this area (Tampa, FL) please reach out! I am brand new to Bigger Pockets and would love to connect with some people who are like-minded as me, both where we live and how we want to invest. 

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Trevor Fleck
Investor · Fort Collins, CO · Member since 2014 · 123 posts · 329 votes
4y

@Khaled Morad I learned about the Cape Coral market from a turnkey company - Rent to Retirement. Thus far, it's been a great market for me. I have seven build to rents ongoing right now with the first finishing in March. Last February, I was able to purchase my first two lots for $7,500 and $11,000 respectively - both on freshwater canals. At the time projected rents for the 1585 sq ft 4/2 was $1,850 and I was all in for $238k (lot + construction + closing costs). Fast forward to today and those same lots are selling for $45k and rising fast. Rents are around $2450-$2500 and similar properties are appraising for between $360-$410k. 

I was down to Cape Coral last week and everywhere you look they are building. I read somewhere that Cape Coral has something like the 2nd most new constructions/capita in the nation right now. With the right builder and lot selection, you can still get in for under $300k for a new build (4/2 or 4/3 1650-1774 sqft). I think rents are on an unsustainable trajectory but I do see a window of another 6-9 months where before the price of land gets bid up beyond a point that it makes sense for a build to rent play. 

Cons right now is that with all construction everyone is backed up - permitting, inspections, materials, various subcontractors, etc. So what was a 9-10 month timeline before is now more like 12-14 months. However, looking around Florida I still haven't found a better opportunity with a nice balance of cash flow and strong likelihood of continued appreciation at the time of this writing for SF new construction. 

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  • Kristen L GarnerBusiness Member
    Lender · Phoenix, AZ · Member since 2021 · 451 posts · 287 votes
    4y

    Welcome Nick! I'm in investor and lender.  I hold my own personal investment portfolio in Indiana but I work with a lot of borrowers in FL.  Happy to connect.  Best of luck on your journey. -Kristen 

    [email protected]213-880-0434
    1Reply
  • Julia Santarelli
    Investor · Spring Hill, FL · Member since 2017 · 5 posts · 0 votes
    4y

    Hi Nick!  I'd love to connect! My fiancé and I moved here in August. We started our investing in Delaware and plan to start looking for properties in the Tampa area in the next year.  It's always great meeting with like-minded people in the area! 

    0Reply
  • Cole Britting
    Investor · NH · Member since 2020 · 175 posts · 75 votes
    4y

    @Nick Narine Welcome to BP! 

    I am just getting started on my investment journey in the Tampa area (from a distance) as well. I'm looking to get started with STRs in a few of the surrounding cities. Would love to connect!

    0Reply
  • Sunny Alexander
    Real Estate Broker · Tampa, FL · Member since 2020 · 103 posts · 74 votes
    4y

    Hey!  You guys should come to Tampa's Pints and Properties, every 3rd Thursday.  Hit me up if you want more details.  Welcome to Tampa!

    1Reply
  • Kristina Kuba
    Tampa, FL · Member since 2021 · 383 posts · 389 votes
    4y

    @Nick Narine Welcome Nick. I am work with KW Tampa central and deal with a lot of off market properties in Tampa proper.

    I personally have a 2 mil portfolio including multifamily LTRs and a few SFR STRs.

    Happy to help with any questions.

    0Reply
  • Ben Nelson
    Specialist · Newberg, OR · Member since 2009 · 93 posts · 71 votes
    4y

    Hey Nick, welcome.

    We're looking at opportunities in Florida as well.

    @Chris Duffy is in Tampa as well and has a few investment properties and some good connections in the area, he'd be a good person to connect with.

    0Reply
  • Chris Duffy
    Investor · Tampa, FL · Member since 2016 · 22 posts · 7 votes
    4y

    Thanks @Ben Nelson! 

    Hey Nick, I'm in the heart of Tampa. Great community here. Feel free to shoot me a message and we can jump on a call. 

    0Reply
  • Trevor Fleck
    Investor · Fort Collins, CO · Member since 2014 · 123 posts · 329 votes
    4y

    @Nick Narine I know Tampa is definitely a hot market! I'd be curious if you find good cash flowing opportunities. You may want to ultimately expand your search a bit outside of Tampa to other desirable areas of Florida that are more up and coming. For example, I looked at Tampa, but ultimately ended up in the Cape Coral area. 

    0Reply
  • Khaled Morad
    Lender · Tampa, FL · Member since 2018 · 422 posts · 210 votes
    4y

    @Chris Duffy as an investor and lender in Tampa also, I’d love to connect!

    Trevor, congrats!  I’d love to hear about what you ended up finding in Cape Coral. When was this? What type of property, target rental market, etc.?


    Ben, be sure to check out Lakeland as well! Interested to hear where you end up. Best of luck in your search!

    0Reply
  • Trevor Fleck
    Investor · Fort Collins, CO · Member since 2014 · 123 posts · 329 votes
    4y

    @Khaled Morad I learned about the Cape Coral market from a turnkey company - Rent to Retirement. Thus far, it's been a great market for me. I have seven build to rents ongoing right now with the first finishing in March. Last February, I was able to purchase my first two lots for $7,500 and $11,000 respectively - both on freshwater canals. At the time projected rents for the 1585 sq ft 4/2 was $1,850 and I was all in for $238k (lot + construction + closing costs). Fast forward to today and those same lots are selling for $45k and rising fast. Rents are around $2450-$2500 and similar properties are appraising for between $360-$410k. 

    I was down to Cape Coral last week and everywhere you look they are building. I read somewhere that Cape Coral has something like the 2nd most new constructions/capita in the nation right now. With the right builder and lot selection, you can still get in for under $300k for a new build (4/2 or 4/3 1650-1774 sqft). I think rents are on an unsustainable trajectory but I do see a window of another 6-9 months where before the price of land gets bid up beyond a point that it makes sense for a build to rent play. 

    Cons right now is that with all construction everyone is backed up - permitting, inspections, materials, various subcontractors, etc. So what was a 9-10 month timeline before is now more like 12-14 months. However, looking around Florida I still haven't found a better opportunity with a nice balance of cash flow and strong likelihood of continued appreciation at the time of this writing for SF new construction. 

    3Reply
  • Joshua Adlam
    Property Manager · Tampa, FL · Member since 2021 · 65 posts · 29 votes
    4y

    Hi Nick, I am a property manager in the area. I'd love to connect as well

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    4y

    Welcome to the BP Family @Nick Narine

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
    WebsiteView Page
    0Reply
  • David Parathundil
    Rental Property Investor · Tampa · Member since 2019 · 49 posts · 16 votes
    4y

    Hey Nick, I am investor who is going to move to the Tampa Bay Area as soon as I can get an offer accepted. I also plan to flip a property there and definitely plan to invest heavy in the area. I would love to connect as like-minded investors.

    0Reply
  • Dillon Cook
    Realtor · Greater Tampa Bay · Member since 2014 · 218 posts · 130 votes
    4y

    Welcome! Open to any market related questions you may have around Tampa/Lakeland. I help many investors within my network and BP acquire SFH and Multi long term rentals. Beginning RE investing is pretty daunting for most, but a good agent and PM can set you straight

    0Reply
  • Ryan Hamaker
    Rental Property Investor · Tampa, FL · Member since 2018 · 73 posts · 35 votes
    4y

    Hi Nick,

    I'm a RE investor in Tampa with several rentals in the area.  Let me know if you're in town and we can meet up briefly.

    1Reply
  • Jonathan Vasquez
    Real Estate Agent · Tampa, FL · Member since 2018 · 68 posts · 21 votes
    4y

    Hi Nick,

    Investor/ Realtor in the Tampa area for last 3 years. Would love to connect

    0Reply
  • Khaled Morad
    Lender · Tampa, FL · Member since 2018 · 422 posts · 210 votes
    4y

    Hey all,

    A great way to meet more people in the community is by attending local meetups and events. I hope you can join us at our meetup tonight at Cigar City at 6pm: https://www.biggerpockets.com/... !
    It's free and very casual.

    0Reply
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