top of the Tampa market strategy

[Amber Stout]

Hey all BP's! 

I am new to the real estate game and am committed to purchasing 2 properties this year. I have been analyzing deal after deal in the Tampa market for buy and holds. While I have come across a couple properties that meet the $100 per door cash flow criteria, my concern is over paying for the property being that we're at the top of the market. 

Let's say I purchase the property now and the market starts to go down immediately after (I do realize this will be a slow descend). What are some problems that I may run into? What are some strategies that may best prepare me for something like that?

Any feedback, I would greatly appreciate! 

To give some value - I recently got to meet Rick Melero and some of his team members from HIS Capital Group based out of Orlando. I highly suggest following them if you want some really great content, inspiration, or want to understand the economic cycles better. 

[Sean Mcentee]

Amber, there are tons of rentals out there with great cash flow opportunities, they're just rarely on the MLS. Start looking at foreclosures and pre-foreclosures. There are also lots of wholesalers out there with properties at large discounts. Just be sure to do your own research on each property and don't just take them on their word. As long as you buy a house at the right price and are willing to hold onto the property for a long time, a small downturn will not hurt you much. The advantage to buying a fixer upper is that once you've renovated it you will have immediate equity and you will know that everything you've replaced is new and you won't have to worry about maintenance for a long time. Something like a burst pipe in a slab home can ruin a years+ profit if your house is not cash flowing well. Just be smart about it and you will have no problem building your wealth with this market.