Florida is synonymous with real estate investing, and Tampa has been widely recognized as one of the hottest housing markets in the nation for years. So, it only makes sense that investors are looking to purchase investment property in Tampa Bay
So in this article, we want to give you some tips for investing in Tampa real estate.
#1 Do Your Research
Before you buy an investment property, do your research about the Tampa Bay real estate market.
Dig deep into the numbers, using websites like Realtor.com and Zillow to investigate various neighborhoods in the Tampa Bay metro area. Be sure that all of the research you do is based on recent numbers, and gives specifics for the analytics you are considering.
Also consider speeding up the process by using a wholesaler who specializes in Tampa Bay investment real estate, like Graystone Investment Group. A good wholesaler has researched the market for years, and has precise analysis regarding specific neighborhoods and investment properties.
#2 Decide What Kind of Real Estate Investment You Are Comfortable With
If you are just getting started investing in real estate, you have two basic options for jumping into investing.
You can buy a property outright, meaning you will become the direct owner of a tangible asset that can generate long-term returns. Or, you can buy a stake in a Real Estate Investment Trust (REIT) to get a share of a real estate investment.
Investing in an REIT is a lower risk, lower cost approach to investing in real estate, but it’s also a lot different than owning property outright, and lacks many of the benefits of purchasing a real estate investment. REITs should be thought of more like stocks: you are only buying a portion of an investment, and you can expect to see returns on your purchase based on the percentage of ownership in the trust.
If you are interested in having control over your real estate investment, and want to see larger returns while building long-term wealth, you should consider owning investment properties.
#3 Consider Investing in a Rental Property
If you are looking for long-term returns on your real estate investments, Tampa Bay is an ideal market for investing in rental properties. With an investment in a rental property, you can expect to generate monthly cash flow and build equity in a hard asset.
Tampa Bay meets the criteria of the type of community for which many real estate investors are searching. It has a diversified economy that is likely to continue to attract residents in the future. Therefore, it has a growing population to help keep rental markets competitive with plenty of demand.
Learn more about why Tampa Bay is a profitable real estate investment market, and why attractions like local sports teams can boost investors’ profits.
Start Investing in Tampa Bay Real Estate
It can feel like a daunting task to begin investing in a real estate market like Tampa Bay, but the long-term rewards can be great.
Graystone Investment Group is an experienced Investment Group, wholesaling properties in the Greater Tampa Bay market. We provide investment properties for a variety of real estate investors at discount prices, while also connecting them with private financing, rehab experts, and management companies we’ve worked with for years.