Tampa Florida real estate

[Eylan Dilworth]

I am newer to looking into real estate investing. Have been researching it about a year now and plan to buy my first propert at the start of 2021 as a 21 year old I have stunning credit and a decent savings. Anyways, I always planned to invest in this general area between Salt Lake City and Ogden Utah but recently I’ve been looking at other areas and have found what I believe to be a lot better of deals outside of Utah. My question is how is the real estate in Tampa Florida? I found a few duplex’s that I could apply the brrrr tactic too which is primarily what I’d like to invest in. Would it be worth moving down there to start investing or would it be better to invest here in slc where the market is higher?

[Tom Parris]

Hi @Eylan Dilworth , 

Where do you want to live? In Utah or Tampa? If this is your first property, I recommend buying something that's close by, rather than across the country. Not only is it more difficult to get things done, it's also a crucial learning experience to present for not only the purchase but everything else in the process. 

Don't look at which market is higher, but which market has the consistent ability to make you money. Figure out your base line goal, and then search for your property. It's a lot easier to jump on a property, or pass on a property based off the criteria you've set. Move on the properties that work. 

I personally think 2-5 unit properties in Tampa suck. The affordable ones are in terrible areas, previously owned by slumlords, so there's so much deferred maintenance, the properties were built 75+ years ago and the age is taking a toll. I recommend buying something small for yourself, way under your means and move after a year to your next property. You'll get better buying terms, and minimize your risk. 

Good luck!