Looking for Live-In-Then-Rent in Tampa

[Andrew Hill]

I just hit a year of living at my first home in Westchase. It is a 2 bed, 2 bath, 1 office could turn bed, 1 garage space condo. I am 25 and my personal plan was to purchase a new property every 2 years and rent out the previous in hopes of having a small amount of cash flow to pay off the difference in mortgage of my next home. I could rent out my current place for roughly $400/month cashflow and I can put that straight into my next house mortgage, moving from roughly a 300k house to a 400k. I could keep compounding this to live in a 500 to 600 etc..

My first house was move in ready and I did really enjoy that convenience but am not afraid to get my hands dirty.

I am a big fan of Westchase and would find it tough to leave the neighborhood based on school zone, type of neighbors/homes, and still located within 30 min of DT Tampa and DTSP.

I wouldn’t say I am a real estate investor yet, but I am very money conscious. Are there better investment moves I should look into in the Tampa Bay Area? My plan was to buy and hold early and often (at 5-10% down each time). Are there other areas within Tampa/St Pete that I can expect similar neighborhood qualities and appreciation in my home that I could be looking?

I know there are townhomes just down the road in my price range, so I guess I am looking for flaws in my plan. Fire away, but also take it easy on my first post!

[Josh Green]

Hey Andrew, love this plan.  I'm all about house-hacking and building wealth through consistent, 'dollar-cost average' purchasing of property.  With that, I got a ton of great info and advice for you.  I'm a local investor and realtor and moved here from SLC Utah actually because there is so much opportunity (plus, the weather and amenities of course!).  If you're looking to buy/sell and need a realtor that can do that PLUS help by being a consultant in that way, don't hesitate to reach out and we can jump on a call!