Many residential real estate brokers simply do not specialize in multifamily and/or property investments, nor do they understand the particular requirements of real estate investors in Tampa.
Furthermore, many real estate investors discover a scarcity of buyer’s agents that fully grasp the mathematics required to assess a possible transaction and specialize in dealing with real estate investors on multifamily and investment property sales.
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Whether you are seeking to buy a multifamily or single-family investment property in the Tampa Bay region, you understand how essential it is to have a professional buyer’s agent represent you and aid you in assessing the property and negotiating the acquisition.
Here are several up-and-coming Tampa areas where you may find amazing deals:
· University Square is a diverse North Tampa neighborhood with a cheap cost of living, making it perfect for families and retirees on a budget, as well as young adults just starting. Good public schools, an above-average nightlife, and closeness to attractions like Tampa Bay’s Busch Gardens only add to the city’s allure. Not bad for a neighborhood that has long been associated with high rates of poverty and violence that have spilled over from neighboring areas.
After all, that because of what University Square has going for it — and what it doesn’t — that it’s made our list of up-and-comers. As new-time homebuyers have been priced out of increasingly popular Tampa areas such as Hunters Green, they have been forced to look for off-the-beaten-path offers where they can get a lot more for a little less money. That location is University Square.
· Tampa Heights, located south of University Square and somewhat north of downtown, is getting a lot of fresh interest. Residents of this up-and-coming neighborhood have accepted improvements such as mixed-use areas such as Armature Works, which have been the focus of rehabilitation efforts pushed mostly by developers and the entry of new companies in recent years. That has motivated others to want to join in on the fun. Tampa Heights’ popularity is skyrocketing, with median house list prices rising by an astounding 11.8 percent year on year.
· Highland Pines, located east of Tampa Heights, is a sleeper-hit of a community. Highland Pines, plagued for years by high unemployment and crime, as well as low median income and property prices, was regarded as one of the last locations you’d contemplate buying a home. And the community is still struggling to demonstrate that it has a fresh image of the future.
Fortunately, investors who recognize the social effect that real estate investors Tampa investing in can have thought that Highland Pines can be more than its history. Purchasing, repairing, and selling properties, particularly in underserved communities, creates jobs, reduces crime, and improves property prices. This, in turn, increases ownership interest and attracts the attention of new investors. For communities such as Highland Pines, the shift may be a lengthy and agonizing process.
· East Ybor, for a long time, Ybor City was seen as an up-and-coming area. And, with that much in the area still changing at such a rapid pace, it intends to keep that title for as long as possible. The neighborhood remains to be an attraction for all types of people, especially would-be homeowners who want to live in the cool part of Tampa. It is home to outstanding Cuban food, old-time trolleys, and new bars.
But it is a subsection of Ybor City that has captured my attention: East Ybor’s “lost” area. This peaceful residential hamlet seems to stay a secret for years, surrounded by strong tourist traffic to the north and east and Ybor’s historic area to the west. Residents didn’t always mind since it drew them closer together, but the inattention also increased crime—and pushed property prices down.
Conclusion
However, Tampa has a lot going for it, such as thriving real estate investors in the Tampa market True Assets Consultancy. When several cities in the United States are running out of market fuel due to oversaturation and declining house sales prices, we’re looking at you, San Francisco—Tampa still has hot deals. The median home list price, which is now about $275,000, is rising by 5.8 percent year on year. In addition, houses are selling for around 98 percent of their market value.
