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New at fix and flipping
Hi there, I'm considering starting my fix and flip business with a first property in Tampa. How is the market currently? Is there anyone operating in the area who can tell me if it's a good time to buy? Thank you! :)
Hi Lara,
Its always a great time to buy. There's nothing like the present. When it comes to fix and flips the uglier the house the better. The key is to make sure you purchase your the home at the lowest cost and know what your after repair value will be to see if you will actually be able to make a nice margin after netting all cost. Make sure you underwrite your deal to what makes business sense to you. Also have your team ready in regards to whos going to rehab the property. Make sure to move fast as well because on these projects time is of the essence because the longer you hold the property the more money you lose every month. Lastly expect to pay 2-3 points in cost for a hard money loan and rates to be 12-14% for first time investor. Good luck on your first project.
I would connect with a realtor and have them do a market analysis for you
Hey @Lara Di Girolamo! As a first-time flip, I suggest we talk a little more deeply as to what considerations you plan on doing and your overall goals in flipping homes in that area. I work specifically more near the Osceola County (Kissimmee) area. My MLS spans all throughout Tampa and mostly all of Central Florida and can give you some Comparable Market Analyses near that area to help you with this journey. Don't hesitate to inbox me a message!
I'm looking to enter the Tampa market as well, but as a wholesaler. Would love to connect.
Quote from @Lara Di Girolamo:
Hi there, I'm considering starting my fix and flip business with a first property in Tampa. How is the market currently? Is there anyone operating in the area who can tell me if it's a good time to buy? Thank you! :)
The hardest part about flipping in Tampa is the higher cost to enter the game here. Do you have your team in place? $ or lender, real estate agent, GC, etc?
Quote from @John Schmitt:
I'm looking to enter the Tampa market as well, but as a wholesaler. Would love to connect.
check dm
Hey Lara,
Starting your fix-and-flip business in Tampa is an exciting move. As a hard money lender operating in the Central Florida area, including Tampa, I can tell you that the market here remains strong, with plenty of opportunities for savvy investors.
Tampa's real estate market has been quite active, with demand still high, especially in desirable neighborhoods. While inventory can be tight, well-priced properties that are updated or renovated continue to attract buyers quickly. If you’re considering jumping in, it’s a good time to buy, especially if you can find a property with solid potential for value-add improvements.
If you’d like to discuss financing options or need insights on specific areas in Tampa, feel free to reach out. I’m here to help you navigate your first project and make sure you’re set up for success
The Tampa market is currently strong, with a good demand for fix and flip opportunities. However, it's worth noting that we have two clients with active flips that have been on the market for longer than a month. It's always a good idea to connect with local investors or real estate professionals who are active in the area to get firsthand insights. Timing can be crucial, so getting advice from those with experience in Tampa can be beneficial. Good luck with your business venture!
Hi @Lara Di Girolamo, we've funded deals in South FL and have clients who have completed flips in Tampa. To my understanding, there has been a surplus of inventory hitting the market as of late, making for a strong buyer's market. Anecdotally, one investor in our network has had to cut price multiple times on two of their currently listed flips in Tampa given the amount of properties on the market. Something to keep in mind as you're estimating project duration and ARV.
How's it going so far? Did you end up flipping your first property? @Lara Di Girolamo
Hey Lara just PM'd you, my partner and I work in the Phoenix market. Happy to offer some guidance!
Quote from @Lara Di Girolamo:
Hi there, I'm considering starting my fix and flip business with a first property in Tampa. How is the market currently? Is there anyone operating in the area who can tell me if it's a good time to buy? Thank you! :)
Hi Lara,
Starting a fix and flip business in Tampa sounds like an exciting venture! To get a clearer picture of the current market conditions, here are a few things you might consider:
Market Research. Check recent real estate trends in Tampa, including property values, demand, and average time on the market. Websites like Zillow, Redfin, or Realtor.com can provide useful data.
Local Real Estate Agents. Connecting with local agents who specialize in investment properties can offer valuable insights into the market's current state and potential opportunities.
Networking with Local Investors. Engaging with local real estate investment groups or forums can give you a sense of the local market dynamics and provide first-hand experiences from others who are active in the area.
Economic Indicators. Look into Tampa’s overall economic health, job growth, and any upcoming developments that could impact property values.
If you're also in need of fund for your fix and flip venture, let's connect. I'll be happy to assist
Its a tight market for sure but theres many good opportunities on a daily basis, hopefully you found something that fits your buying criteria in the time frame that this was posted.
Hi Lara!
Tampa is definitely a hot market for real estate right now. The area has seen strong appreciation over the past few years due to increasing demand, population growth, and its appeal to both investors and homeowners. While prices have risen, there are still good opportunities for fix-and-flip projects if you can find properties at a discount or in need of renovations.
That said, market conditions can shift quickly, and Tampa has become more competitive. You’ll want to carefully assess property values, renovation costs, and potential resale value to ensure the margins work in your favor. Partnering with a local real estate agent or connecting with other investors in the area can also help you get a better feel for specific neighborhoods and emerging opportunities.
If you need help with financing options for your project or want to discuss strategy, feel free to reach out. Good luck with your fix and flip journey!
Best regards,
Drago