Relocating from LA to Tampa

[Jennifer S.]

I'm relocating from L.A. to Tampa. I own a 4 plex in L.A. which I'm planning to keep. 

I'm looking to buy another multifamily. I'm not familiar with the Tampa market so most people I talk to are suggesting I buy in L.A. because I know the market. I'm a commercial real estate broker so I do have experience--not a newbie.

I just did a cash out refi so I don't want to wait too long to buy because I'm paying interest. 

Do you think I should stay in my own backyard and buy in L.A.? 

Does anyone have experience buying in a different market than where they live? What were the challenges? How did you navigate them? Anything you'd do differently? What did you do right?

[Khaled Morad]

“And for the 2 cents it's worth, I'd say Tampa over LA: taxes, landlord friendliness, rent to price ratio, appreciation, population growth, household income to median home price all favor Tampa from what I can tell.”

^This! It’s what’s bringing everyone in droves!