Moving to Tampa, Florida

[Rey Orinion]

Hi fellow BPers,

Presently living in Seattle but will soon be moving to Tampa, Florida for job relocation and beaches, of course.  Currently, I and my wife have 3 properties in Seattle Washington that are cash flowing just fine.  Haven't been in Tampa, Florida before so we're not sure if we should rent an apartment first or buy our own owner-occupied property right away?  We will be total strangers there so we have no inkling whatsoever what the real estate market is like over there.  So, I am reaching out to you Tampa investors--seasoned or not--for a piece of advice.  Thanks in advance.  

[Steffen Beck]

You have options for owner occupied MF property all over Tampa. It all depends on where you'd like to live and where you will be working. Closest to downtown, Tampa Heights and North Hyde Park are the neighborhoods with commercial $$$ being dumped in, and Riverside and Seminole Heights being gentrified as well. I'd say these are currently "C" neighborhoods. I've found that it takes quite a bit of digging to find deals here, although there are deals to be had. I think it is probably smart to rent an apartment for at least 6 months, to get a feel for the area and do your research with your boots on the ground. You can get a really good feel for neighborhoods driving them, and I think that goes especially for the ones I previously listed. There are many other areas in the Tampa Bay area, including many options in Pinellas county. I have definitely seen a decrease in inventory in the last year or two, especially in the hotter areas.