New at fix and flipping

[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! :)

[Carlos Valencia]

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. 

@Albert Bui @Matthew Kwan

[Jacob Sherman]

I would connect with a realtor and have them do a market analysis for you

[Lisandro Maldonado]

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!

[Lara Di Girolamo]

check dm!

[John Schmitt]

I'm looking to enter the Tampa market as well, but as a wholesaler. Would love to connect. 

[Alacia Mahnken]

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?

[Lara Di Girolamo]

Quote from @John Schmitt:

I'm looking to enter the Tampa market as well, but as a wholesaler. Would love to connect. 

 check dm

[Travis Main]

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

[Jorge Vazquez]

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!

[Cam Schwartz]

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.

[Rapy Narruhn]

How's it going so far? Did you end up flipping your first property? @Lara Di Girolamo