Tear Down Opportunities in St Pete and South Tampa
There are some great opportunities to invest in tear downs in the St Pete and South Tampa areas.
I'm a licensed builder with 20 years experience in new construction and 30 years experience as a real estate investor. I specialize in fortified icf construction which is great for areas like St Pete and Tampa which are in a high risk area for hurricanes.
Being new to the Tampa and St Pete areas, I have researched over 200 of the latest in-fill builds and tear down rebuilds.
Currently, I have multiple deals on my radar and I am watching those opportunities get picked up by other investors and builders.
The best deals I see are larger ones requiring around $3.5MM in capital. For example, a tear down home can be purchased for around $1.2MM. A 5500 sqft home would cost about $2.5MM to build at $450 sqft. The after-build-value would be around $5.8MM. The margin would be about $2MM. There are other smaller deals as well to buy a tear down for $300K to $500K and build back at an after-build-value of about $1.2MM and change to $2.5MM.
It would be great to discuss these opportunities if you are looking to invest and need a licensed builder to work with who is experienced and has the research done on the St Pete and Tampa markets.