All Forum Posts by: Nadia Daggett

Presently, I've noticed a surge in foreclosures emerging in Tampa Bay. I'm curious if this uptick is due to many investors being involved in hard money loans and now facing the need to refinance, unexpectedly encountering significantly higher interest rates compared to a few years back. Are you observing a similar situation?

I've noticed a decrease in Airbnb bookings lately, but an increase in corporate rentals tenants (1-3 months stays). Our occupancy rates remain higher then ever in Tampa, Florida. Managing corporate rentals since 2005, I've experienced a roller coaster ride with these two strategies. I wonder if other investors are facing similar trends. When and what do you think the next change will be?

I am the broker of Graystone Real Estate and constantly train my agents with new investment ideas. I also help investors purchase and sell their short-term rentals. I have a client that has their home as a primary residence and rents out temporarily a few times a year. Their problem is what insurance they should use. Does anyone have any suggestions for the best policies for this situation?

Quote from @Josh Green:

Quote from @Nadia Daggett:

Where to invest in Tampa? I am always asked this question as the broker of Graystone Investment Group and have spoken with many investors who suggest investing in downtown Tampa's outer ring. As downtown Tampa keeps expanding with channel sides remodel, sporting teams growing, and great new features to Tampa on the outer ring, including armature works and more, properties in those areas are increasing, and investors are buying them up. With many investors in this forum, would you have any suggestions for other places to invest in Tampa?

 Personally, Pinellas County (clearwater/St Pete) is excellent.  The land here is limited - it's a peninsula surrounded by water.  People, investors, tenants are all going to consider Pinellas first and that's reflected in the demand for property here.  Much like Tampa, St Pete is seeing a lot of business growth and population growth.  Another reason I really like this county is generally speaking, it's just a lot safer/less street by street than Tampa metro.  

Another county I think is going to see the biggest growth/change is actually Pasco county - on the north border of Pinellas and Hillsborough.  The amount of infrastructure, new business growth, and new development is tremendous.

Very true! And if you can find a property with good ROI you need to buy quickly before they are taken by the hedge funds. There are very few and hard to find.

Quote from @Kevin Bartlett:

Have you ever considered a bit south into Southwest Florida in the Cape Coral area?

Southern Florida is a great place. There are a lot of new investment opportunities in Cape Coral after the last hurricane, so make sure you visit the property before you purchase. Some insurance companies after the previous storm helped with wind damage; however, if they were far enough inland without flood insurance yet were damaged by the surge of water, the insurance companies did not support their claims leading to thousands without money to fix the damaged homes. On the other hand, Ft Meyers is a beautiful town with many great places to see and visit, allowing for good ROI on STR.

Where to invest in Tampa? I am always asked this question as the broker of Graystone Investment Group and have spoken with many investors who suggest investing in downtown Tampa's outer ring. As downtown Tampa keeps expanding with channel sides remodel, sporting teams growing, and great new features to Tampa on the outer ring, including armature works and more, properties in those areas are increasing, and investors are buying them up. With many investors in this forum, would you have any suggestions for other places to invest in Tampa?

@Paul Sandhu LOL! Your telling me. In Alaska that is 100% of the time. That was why my corporate rentals went so well. It was either put these men in a hotels next to a bar or hotels with a bar. A place with a kitchen to host and stay away from bars went so well. The more bedrooms the better in these, as the corporations would just pack them in and the secure place would keep them out of trouble.

@Paul Sandhu I have had these as well. But I like the companies that organize the stays for their employees instead. They pay for the reservation, organize the stays and if something happens during their stay, I can charge the companies cc for any mishaps. They also provide a higher return business as well.

@Joel Case Back in early 2000 before Airbnb, I would door knock large companies in the area. Telling them we had a place to stay for their new/traveling employees. I made a database of all my clients from oil fields, doctors etc. then when Airbnb came out I used that to advertise as well. The same with Vrbo, Expedia etc.

@Khalid Bryan I thought this would be a good idea as well. One thing to make sure of is to find the right accounting software that works for you and your company. If you currently use a LTR software and unable to add adjust or add a new software with your accounting, it could make things into a disaster. I used Logitech in the beginning and worked really well. Now I use tokeet and is really efficient with the reporting and Accounting.