Tampa Bay is one of the best markets for real estate investing. Tampa has experienced an increase in population over the last few decades, and it doesn’t show signs of slowing down. But unlike Miami and Orlando, Tampa Bay is not a large tourist destination, making it ideal for Floridians who want a nice place to live without the inconveniences associated with tourism.
So, here are five top reasons Tampa is a great location for real estate investments.
#1 Job Growth
As the Tampa Bay area continues to expand, more businesses will relocate to this metro area, meaning more employees will be needed to fill the jobs. In 2015 alone, the city issued building permits worth more than two billion dollars, which is a promising sign of new development. Also, the city is investing in growing the popular waterfront district, which will also lead to more jobs.
So what does this mean? More jobs mean a growing economy and growing housing market.
#2 Global Market
Florida has always been a melting pot of different cultures and people, and Tampa Bay is no exception.
As Tampa continues to grow, more international real estate investors choose to invest in Florida more than any other state.
As a result of a growing economy, a growing job market, and continued popularity among international investors, Tampa’s housing market is a perfect place for expert real estate investors to glean generous profits.
#3 High Quality of Life
Tampa is consistently ranked as one of the best places to live in the U.S. Therefore, real estate investors have discovered that this city, and all of Tampa Bay in general, is one of the best places for real estate investing.
Wonderful weather, gorgeous scenery, sports teams, development projects, cultural and recreational activities, the beaches, and high paying jobs are just a few of the contributing factors to the high quality of life Tampa Bay offers. And as a result, housing is in high demand, making Tampa one of the best places for real estate investing.
#4 High Profitability for Flipping Houses
Besides profitable investing in single family and multi-family rental properties, Tampa Bay has one of the highest ROI for flipping houses.
In a recent RealtyTrac report, Tampa tied for the 2nd highest share of flipping as a percentage of all single-family home sales for metro areas with at least 250 flips in 2015. And when it comes to generating gross profit, the Tampa-Clearwater area ranked 6th in the nation with 57.2 percent.
For more information, read: Tampa Bay is One of the Best U.S. Markets for Flipping Homes According to RealtyTrac’s Data.
#5 Favorable Real Estate Prices
Real estate prices in Tampa Bay remain very favorable for investing in property, with a diversity of cities and towns ranging from small beach communities to robust cities to rural communities.
Real estate prices in the city of Tampa are below the state and national averages, making it a very good place to reap real estate profits. Yet, Tampa Bay home prices increased by as much as 10% in the last year, and prices are expected to continue to grow.
If you want to invest just outside of Tampa, where people live in smaller communities while enjoying the amenities of Greater Tampa Bay, home prices are significantly lower. For example, Dade City home prices are about half the Florida and national levels, making it an exceptional place to invest.
Tampa Real Estate Investments
Graystone Investment Group is an experienced real estate wholesaler in Tampa Bay.
Unlike other wholesaling groups, we find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years, at no extra charge.