Newbie looking to invest in Multi-Family in Tampa area

[Account Closed]

Hey everyone!

My boyfriend and I live in Queens, NY and are looking to make our first real estate investment purchase. My parents own a home in Lakewood Ranch (near Bradenton) but most of the properties there do not meet the 1% rule. We are now looking in the broader Tampa area and are trying to decide which areas are the best to both generate a positive cash flow and hopefully see some appreciation.

We are looking for a multi-family and to stay under $150,000. All advice is highly appreciated!

Melissa

[Aaron T.]

you will only find multifamily in bad areas for that amount of money in the tampa area. Even St Pete would be a tough sell at 150k. Doug Marriott could help you locate MF in St Pete, he is very familiar with that area.

Tampa does not have a large amount of multifamily 2-4 units. The ones they have are either in bad areas or very high priced areas. I am closing on a duplex right now, but its upwards of 300k, in a desirable area.