All Forum Posts by: Kristina Kuba

Hi @Nico Henderson,

I can put you in touch with my husband who wholesales about 5-6 properties a month in Tampa Bay.  His office is near midtown.

Hi Jamie

Your decision depends on your goals. Do you have a W-2 job? Are you looking to generate passive income by adding to your rental portfolio or offsetting your W-2 income? Or is your priority increasing active cash flow to reinvest in non-real estate assets or simply have more discretionary income?

In my opinion, with rental rates relatively stagnant in Tampa and interest rates still in the high 6s, it’s challenging to find a deal at 75% of value minus rehab, refinance it, and still cash flow. As the market stabilizes, I’d recommend getting your feet wet with fix-and-flips, depending on your experience level.

Regardless of your choice, you’ll need a solid general contractor, lender, and agent. Feel free to reach out if you have any questions.

@Amit Doshi

Hi Amit,

Like many of the responses you see, Tampa is an appreciation market not a cash flow market. There are 4 ways of gaining financially on a property. Many people are just looking at cash flow which will be difficult with rising prices and stubbornly high interest rates.

#2 Appreciation

#3 Equity Pay down

#4 Tax Savings

For #4, there is a tax loophole that you can legally take advantage of. You would have to substantially do everything for the short-term rental business including self managing the STR. You cannot hire a mgmt company for this loophole. And after doing a cost segregation study, you can drastically reduce your W2 taxes to almost zero. Always consult a CPA, I can recommend you one.

So zoom out a little, and see the big picture. Most of my personal rental properties have doubled in value since 2018 and they will likely double again in the next 5-7 years. With tax savings on your W2 it can be very advantageous for wealth building based on your situation.

Happy to help. Reach out if you have any questions.

@Humaira Rashid

Many of the states mentioned are great for cash flow. Have you considered using the BRRR method right here in Tampa? Your 150k is ample to secure a hard money loan on a dilapidated SFR for 50-60 cents on the dollar, and use the remaining for rehab. Then use a DSCR 75% cash out loan to get most, if not all of your money back.

This is not an easy strategy, it will take underwriting and making lots of offers on ON MLS properties and working with wholesalers. But since you already have your first property in Tampa, you know the market. As for trades, I have great luck using Thumbtack. Also, PM if you need a great property management company.

Tampa/ Orlando are always a good bet

2 FL Cities Among Hottest Housing Markets In 2024: Report

Nothing is truly impenetrable. A good STR policy with umbrella insurance is a good start. I have also put some of my properties into land trusts as it creates another layer of protection and anonymity. Land trusts do not trigger the due on sale clause.

University Square near USF is a C class neighborhood in my opinion. It appears you are trying to do a PadSplit rent by the room model? The rent by the room model is flourishing in Tampa and the investors I have helped have told me that code officers/Tampa has not caught on yet about a max amount of people living there. In my years of being a realtor and investor, I have only seen max occupancy become an issue when a neighbor calls because there is a plethora of cars on the street and/or parked on the grass/right of way.

If you are renting the room, I would recommend that each bedroom has an egress window, smoke alarm and there is a central fire extinguisher to lower your liability and keep a safe environment.

I would not physically split the property unless you get approval from the zoning and the building department. And University Square is outside of the City of Tampa so you will need to get in touch with Hillsborough County offices.

@Lin Ding

It sounds like renting the room is a challenge and more of a headache in your experience. Having rentals should be somewhat passive and this seems more like an active job.

My recommendation is to 1031 exchange it into a small multi family and have it professionally managed. The STR market has faced big challenges across the country but LTR rents still stay strong in Tampa deposits, a slight decrease in the last quarter.

Just like I have invested my own portfolio into larger and more higher price point properties because they appreciate faster. For example, In August 2023, Tampa home prices were up 21.1% compared to last year. If rates ease up just a little next year it will drive prices even higher. Quite frankly, a lot of my buyers are waiting for interest rates to drop despite myself advising them differently. When others zig, you zag.

Feel free to reach out if you have any questions.

@Jack Faysash

Timeline and cost will heavily depend if it is already under roof heated space OR if you have to expand the footprint of the house ...Pour concrete and add a roofline, etc.

In the past, my investors have had luck with the following two:

Onsite Construction & Restoration 1305 N Armenia Ave, Tampa, FL 33607

Tampa Bay General Contractors 4532 W Kennedy Blvd #500, Tampa, FL 33609

@Tsering Lhamo

One of the greatest hacks in my opinion is the 10% only down loan for out of state “vacation” homes. You can get into a $500k house in Tampa for approx $50k.

I am a little biased with Tampa, born and raised, but there enormous amounts of growth like the 4 billion dollar downtown Water street project backed by Bill Gates. We are seeing multiple offers come back in many neighborhoods in Tampa. Most of my personal rental properties have doubled in value over the last 4-5 years and are still appreciating in Tampa. Tampa is landlocked by water on 3 sides and I don’t foresee any slowdown with the new stabilized appreciation.

Happy to answer any questions!