Where do you invest and why?

Question

My husband I will be moving to the Tampa area because of his newest contract with The Marine Corps. We are starting to analyze neighborhoods between Tampa and Sarasota to purchase our first rental property. I figured a good start would be to see what other investors in the area think. Especially since we won't be there physically just yet, we could use some local opinions for our first purchase!

So, what neighborhoods do you invest in, what types of properties are they, and why?

Kristina Kuba · Answer

@Samantha Milford

Appreciate you service and welcome to Tampa! To answer your question, my investors and me personally:

We invest in west tampa due to the The City of Tampa expanding the Riverwalk, adding six more miles to the city’s popular trail to what will be a 12.2-mile multi-use pathway.

We like VM Ybor because it is so close to the future large scale multi use development “GasWorx ''.

We also invest near the Westshore Marina district… still south Tampa but at least you snag a deal south of Gandy and still be close.  Feel free to PM if you have any questions!

Josh Green · Answer

@Samantha Milford I helped my client get a quad in Brandon. Quite nice over there and I was shocked the rents are basically the same (for mid tier rentals) as Pinellas county. $1600/mo for a 2bd unit and so that property cash flows quite nicely

Samantha Milford · Answer

Thank you for all of your input. To expand, because of the nature of my husband's contract with the Marine Corps we will not be sure exactly what area he will work in and since in order to utilize our VA loan for an investment property, we must live in it, we will have to buy a property within a reasonable distance from where his office will be located.

We plan to buy something that needs work and are not interested in turnkey properties or, obviously, properties that won't cash flow.

Andre Crabb · Answer

@Samantha Milford welcome to Tampa :)

I just moved here several months ago after wanting to move here for many years. I'll see if I can help you...Here is a map of Tampa neighborhoods. The search is roughly based on areas that are growing, and also prioritizing cheaper houses. The bluer ones are growing more relative to the others.

Ali Horbach · Answer

Hi Samantha. I am in Sarasota. It’s been hard to find deals that pencil for me but I underwrite a bit conservatively and they are out there. There are some great REIA and exchangers groups in both Sarasota and Tampa that I would connect with. Happy to connect with you as well if you are looking for some commodore.

Theresa Harris · Answer

I have places where I live and in the area where I want to retire because the two markets are very different.  I buy places that are more starter home and that I would live in.  All are in family oriented, good areas.

Zac Boelkow · Answer

North of tampa. It is hard to find rentals that are profitable in tampa and south of tampa..

Eliott Elias · Answer

Killeen, TX. This is a market where every investment strategy is possible, BRRRR, flip, buy & hold, airbnb. Killeen is the largest military base on earth so your property will always be rented out.

David Ramirez · Answer

Hey Samantha,

Welcome to Tampa Bay! I've been living here for 2 and a half years and It has been wonderful to get to know every little corner of Tampa through Real Estate. My partners and I run a real estate investing meet-up here and you are more than welcome to come and network with like-minded individuals who can definitely help you know more about our beautiful market.

For rental properties, it all depends on your budget. It would be hard to find cash-flowing properties within 15 min radio from Downtown Tampa. I would recommend buying a fixer-upper and then refinance that way you can add value to the property and create some built-in equity.  If you are looking more toward turnkey properties I would recommend looking east close to Lakeland where you can still find cash-flowing properties at reasonable prices.

Wish you luck! Reach out when you get here.

Regards,

David

Taylor Lyons · Answer

Samantha, I am on terminal leave with the Coast Guard and just moved out to Tampa with a very similar investment goal to you. I am also just trying to get into real estate, but I've been driving and studying the region and I'd love to share anything I've learned about the area with you as needed. Let me know if I can help in any way.

Where do you invest and why?

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