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Updated about 1 year ago on . Most recent reply

Tampa, St Petersburg investing
Hi everyone,
My name is Liron and I'm currently on vacation for 3 weeks in St Petersburg and Tampa Florida. I currently live in Hoboken,Nj.
I am considering buying and holding properties in both St Petersburg and Tampa and I thought it would be a great opportunity to connect with people in these area and learn more about both real estate market.
I have a couple of questions that will help me getting started.
1. Would love recommendations for both realtor that works with investors before and preferably works with wholesalers and with a good property management company.
2. The KPI's i usually looking for are:
IRR - 12 - 20%
Min 7% cash on cash
Min 5% from equity (amorization)
Is it something i can find in both markets?
3. Which neighborhoods in both cities are good for cash flow and which neighborhoods can be a mix of relatively good cash flow and appreciation in your experience?
4. Would i be able to find a good contractors that had availability? Based on the answer, I would target only properties that might need cosmetic rehab.
Thanks 🙏
Most Popular Reply
@Liron Burrack
Liron,
Welcome to the area! I’m in the St. Petersburg area. The KPIs you’re targeting are achievable in certain areas here On the Pinellas side of the bridge.
The hottest parts of St. Pete have become very difficult to cash flow and hit cash-on-cash metrics. However, secondary spots in South Pinellas still cash flow. The northeast corner of St. Pete still has cash flow potential (4th St & Gandy area).
On the west side/beach side of Pinellas, we are finding great success generating cash flow in Seminole & Largo. The rent to price is stronger here than in the downtown St. Pete area and the beaches. The property taxes are lower there & there is no flood insurance required (many St. Pete areas require flood).
Hope This helps!