Tampa, Florida ranks as one of the best U.S. cities to invest in real estate, making Tampa investment property very desirable among investors in the U.S. and abroad. This is due, in part, to a large, diverse population, with an attractive median property value, which helps investors mitigate some of the risk. As a result, investors like Bill Gates and Jeff Vinik are investing billions in Tampa.
Related: Tampa Ranked Top Market for First-Time Homebuyers in 2017
Tampa Investment Properties
With an average home value of $185,700 in August 2017, Zillow considers Tampa to be a buyers’ market. Of the homes currently listed, the average median listing price is $279,995. And within the next year, Zillow predicts that Tampa’s home values will increase 3.7%.
Related: 8 Reasons It’s a Great Time to Invest in Real Estate – 2017
Rental Properties
For rental properties, the average rent in Tampa is $1,186, as of the end of July 2017.
Rents continue to rise steadily, though they’re staying just below the national average, making Tampa investment property perfect for investors. Moderately rising rental rates make it possible for investors to recoup their initial investment more quickly, thereby saving on interest costs.
Tampa is a prime location for real estate investing because millennials are shifting toward more heavily populated areas like Tampa. Many millennials are making a lower wage than previous generations and seeking to abate housing costs by living in desirable communities with roommates. Therefore, many experienced real estate investors are buying multifamily properties in highly attractive neighborhoods where millennials want to live.
Related: Why Rental Properties are a Good Investment
Flips
Tampa is a top city to flip homes according to a survey by Forbes because Tampa house flippers are producing some of the highest profits in the U.S.
Older homes throughout the Tampa area have good bones but need work. These homes are great opportunities for flippers because millennials love them. In fact, 65% of Tampa home purchases from 2013-2014 were by millennials, thanks to the locality, amenities, and area beaches.
Related: Tampa Bay is One of the Best U.S. Markets for Flipping Homes According to RealtyTrac’s Data
Neighborhoods
Whether you are flipping homes or rehabbing rentals, investment properties in Tampa Bay neighborhoods like South Tampa, West Chase, Brandon, Riverview, and Fish Hawk are hot. There are plenty of existing homes for investors to purchase that are highly sought out by renters and buyers alike. Many of the homes are well-maintained (a plus), and typically keep renters for multiple years.
A short distance away from Tampa, and yet in metro Tampa Bay, neighborhoods like Palm Harbor, Tarpon Springs, and New Port Richey are very popular because they offer a slower pace of life. Homes in these communities tend to be reasonably priced, and are generally well taken care of by previous owners.
Related: Top 10 Physical Characteristics Identifying the Best Cash Flow Properties
Graystone Investment Group
Graystone Investment Group is an experienced real estate wholesaler in Tampa Bay. We serve local and international clients who flip homes in as little as 30 days, as well as clients who hold high cash flowing rental properties.
Unlike other wholesaling groups, we provide clients with a turnkey process at no extra charge. 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.
To learn more about profitable real estate investments in the Tampa Bay area, fill out our Investor Profile or contact us direct.
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