Investing in Tampa, FL

[Vinh Tran]

Hello BP,

Looking to start a conversation on investing in Tampa, FL. Would love to speak with investors/agents/homeowners to learn more about the market - i.e. types of investments, pricing, property management, economy, etc. Let's connect!

Best,

Vinh

[Patricia Steiner]

Investing in Tampa Bay is far more rewarding than almost any place else.  And, here's why:  our year-over-year rent increase exceeds 7.5% and our year-over-year property appreciation is in excess of 5%.  Competition for properties is vulgarly stiff; plan on making a full list offer and having 10 competitive ones at list or higher within minutes.  There are no "deals to steal" so just stay within valuation and don't over-improve but you can't slum it and capitalize on the rent prices and property appreciation.  The market does matter. In some cases, it's a street by street assessment.  You cannot afford to get this wrong.  You'll hear of "hot" markets; many of those should be set on fire as it will be the only way to rid it of all that ails it.  

So, if you want to invest in rental property - vacation, short term, long-term - this is the place to be.  If you want to flip, wholesale, come in cashless or credit ugly - don't bother.  We have a lot of NYers here with tons of cash who are buying everything they can find in just about every price point. They are joined by people from everywhere else in the country.  Our no state income tax, endless summer (especially during the pandemic!), our population growth, and the need for housing ensures that a well-vetted investment here will be financially rewarding.