Researching Pinnellas and Hillsborough counties

[Greg W.]

Hello,

I live in northern VA and am looking to find a less expensive market with a growing population to invest in. I feel like with the baby boomer's retiring, they will want to move to warmer climates, creating a demand for housing. I'm looking into Pinnellas and Hillsborough counties and need help figuring out what areas/neighborhoods are good for rentals. I am looking for areas that are nice, with good schools, in-demand areas or up-and-coming trendy areas where demand will increase. I would prefer to invest in multi-family, like a duplex or four-plex.

What types of properties are tenants looking for?

What areas are in demand, are up-and-coming and/or have good schools?

What kind of rents are you seeing?

Thank you!

[Nick C.]

Greg,

Pinellas and Hillsborough area great. We haven't stayed entirely off the international map, but enough so that prices aren't skyrocketing like they are in Miami, Ft Lauderdale or Orlando. But our rents are still very strong compared to purchase price. Everyone wants to buy near South Beach and Disney World I guess. 

I think you will have difficulty finding duplexes or quadplexes in an up and coming area with good schools. This is a very general rule, and there are exceptions, but for the most part the smaller multi families are either beach side and super expensive, or they are in bad areas. Lots of small units, 1br/1ba's or 2br/1ba's, not very appealing to middle class families. 

Best of luck!