All Forum Posts by: Mike DeBuccio Jr.

@Gaurav Patel, 

Tampa is absolutely a hot spot for investing right now. For buy and holds, I would suggest areas such as Ybor City, Tampa Heights, & South Tampa.

Ybor seems to be very attractive for buy & hold investors. The link below shows you the city's future and current development map for Ybor. (Notice the Tampa Bay Rays Stadium) https://www.tampagov.net/sites/default/files/econo...

This article is pretty good read as well about Tampa Heights, explaining the cities approval of funding for major projects along the Hillsborough river, near the University of Tampa. http://www.tampabay.com/news/business/realestate/t...

I would also keep in mind Lakeland in-between Tampa and Orlando. It is an up and coming area for sure.

Best of luck in your future investments.

Hey @Steven Mason,

The problem with going the conventional financing route is that the banks will not lend on distressed investment properties. They simply won't pass their necessary requirements and inspections. Also to my understanding, they don't work fast enough to fund an investment property, but obviously that would depend on the situation.

This is why investors usually use hard money or private lenders to fund their investments. The obvious catch is their high interest rates and terms, but they are able to do this because investors usually cannot get conventional loans for properties. Kind of leaves you with limited financing options. 

Hope you found this helpful!

Hi @Lynsey Dreis,

You are definitely right, West Tampa is probably the most desirable spot for investors right now. Tampa Heights in particular is booming, many commercial offices, apartment buildings, and restaurant/bar areas are currently being built, or are approved projects for the future like you stated. 

I like to show investors the Tampa Heights "Zoning&Development" website, to confirm that this area is coming up, and a gold mine for investment properties. https://www.tampaheights.org/zoning-development/

I am always looking to connect with reliable GC's down here for my investors. Feel free to reach out anytime! Thanks for the response. 

Hey @Ryan Johnston,

I moved down here to Tampa in January with the same intentions as yourself. Got licensed and found a job with an investment brokerage. Best decision I could have made, the opportunities down here are endless.

Down here in Florida, you are required to take a 63 hour course, final course exam, and then the state exam. My best advice would to be proactive and get the course done as soon as possible, so once you get down here you are ready to take your state exam. You also have to apply for your license through the DBPR and get your fingerprints done. Once you have done this and have been approved, then you will be able to take the test.

The only online course I know of is the one I used, "Real Estate Express." The course comes with the textbook, about 20 chapters of quizzes, a pre-exam and a final. Worked well for me and helped me prepare for the state exam (which is not easy).

Hope this helps you out, feel free to reach out if you have any further questions. And good luck on your next move down here to Tampa Bay, its paradise down here man. 

@Tom Parris,

Thanks for reaching out man. I will PM you.

Mike

Hey BP World!

I am currently looking to network with real estate agents, who can assist my investors with exit strategies for their investment properties. Feel free to reach out! 

@David Lecko

You beat me to it! Literally, lol. But that is awesome that you created Deal Machine man, hell of an idea. Best of luck in the future.

Hey @Mido Ali

I know of a few hard money lenders down here in Florida that will finance properties around the county, but you can find them anywhere. When looking for hard money lenders I would suggest to do your research, and definitely compare their rates and terms to others. Also look up reviews on google, and ask on platforms such as BiggerPockets to get further insight from investors who have used them to finance projects.

If you have any further questions feel free to reach out!

@John P. Thanks man!

Thats for sure. I have set up a full team for one of my investors who is up in New York, and they are doing a beautiful rehab over here in Tampa. But you are differently right, having a reliable team that will work efficiently and get the job done is key. Time is money in the business, especially when investors are dealing with hard money. 

I have been interviewing GC's, getting references from them, examples of projects they have completed, and anaylizing if they are "investor friendly". I do this for this exact situation, when an investor comes to me looking for a team. 

I appreciate your response John!

Thanks for the responses! @Ali Boone & @Carlos Zapata.

I myself am a wholesaler down in Tampa. I guess I was quite vague with my question. 

What I am referring to is investors buying properties from out of state, down here in Florida. Just from Bigger Pockets, I have connected with many investors from all around the country, interested in investing down here in Tampa. A lot of investors do not have "feet on the ground" in Tampa, but are still looking to invest. 

Obviously a deal is a deal, but sometimes for some investors that is not enough. I am just trying to see what I could do to make them feel more comfortable. I know gaining trust is a key factor in making them feel comfortable with their investment, but again it is more difficult for someone to feel comfortable with you when you have only met via video chat. 

I guess what I am looking for are certain specs about a property that an investor would feel most comfortable. What are out-of-state investors looking for down here? Safe easy rehabs? Flood zone X? Blocks homes, B or C neighborhoods, etc?