Investing in new townhome/SFH in development

[Jessica Hicks]

Hello, I’m a new investor from Seattle and am in Tampa this week looking to purchase a first investment property. Has anyone had any experiences they can share about buying a new home in a development around Riverview/Brandon area as a rental? I’m looking in the 180k range at 3bd 2ba. It’s seems they are renting for around 1450, which with HOAs and taxes doesn’t leave much cash flow. It’s a cap rate of around 5.5 to 6 percent. But I’m thinking in purchasing new I won’t have to worry about Maitenence for a while, and with a growing rental market, I’m thinking these rents will rise and the demand for new build will grow. Thoughts?

[Eric Delcol]

Hi Jessica Hicks

"But I’m thinking in purchasing new I won’t have to worry about Maitenence for a while, and with a growing rental market, I’m thinking these rents will rise and the demand for new build will grow"

Yes you are accurate in your assumption. However, you will be paying top dollar for a brand new build.

Maybe try searching for existing houses less than 5 years old so you get the best of both worlds.