What type of long term properties to buy in Tampa FL?

[Jin Zhang]

Hi everyone,

I am starting to invest out of State and are considering the Tampa area. I originally thought about buying a 2 to 4 units property in the area. After running some numbers, I found it is hard to cash flow. I would like to get some advice on the best strategy to get cash flow on long term properties.

• Could long term still generate positive cash flow? If so, how much per door?
• Single family or 2-4 units?
• For a duplex, what is a reasonable purchase price for two units (2B1B each)? Would around $200k still achievable or mostly around $300k?
• Which area to buy to get cash flow?

Any advice or input would be highly appreciated! Thanks!

[Zachary Bliss]

Hello @Jin Zhang

With the rising prices is Tampa, it is very hard to find long term rentals that cash flow. Tampa is more suited for appreciation with single family homes in the nicer areas of Tampa. Short Term Rentals can be very profitable as well but there are certain areas of Tampa that have restrictions on them.

- Long term rentals can still generate cash flow if you can find them around $120-130k a door, but those are quite hard to find unless they are in a really bad area.
- Single Family would be best for either an STR or rental with appreciation.
- Most duplexes in Tampa are around $280k+
- I would recommend trying some other areas outside of Tampa if your main goal is cash flow. Lakeland/Winterhaven is a great area for cash flow, as well as Bradenton/Sarasota.

Hope that helped!