Tampa, Florida Multi-family

[Bryce DeHaan]

Hey BP,

I am moving my family over to the Tampa area in the next 18-24 months. I will be looking to invest $200-300K into a multi-family deal at that time and I am open to a variety of deals to include 5 units and up. I will be looking for a value add deal but of decent quality. I would like to keep this in Tampa or it's surrounding areas but I do not have a tremendous amount of experience with the area so I want to avoid the bad areas. Where would you be investing right now and what should I be watching out for?

[Patricia Steiner]

18-24 months is a lifetime in our real estate market.  Our inventory is nearly non-existent.  For every new listing, multiple over-list offers - all cash - can be expected within an hour. My investors are lined up to buy - and to buy everything with good bones that they can acquire. The issue is:  nothing to buy.  This is now.  And, here's what you should be celebrating that you missed so far:  51% of all tenants in Florida are delinquent in rent.  The demand for housing is off-the-chart as well.  My advice to you is simple but not what ready-investors want to hear:  Wait.  Do Nothing.  Plan Nothing.  Give it 6 months.  I have a feeling that those landlords/owners who suffered through this moratorium mess might be ready to wave the white flag and sell.  

Only fools rush in...