LOOKING FOR WHERE TO BUY AN INVESTMENT PROPERTY IN TAMPA, FLORIDA?

December 20, 2024

by admin

Florida is more than just the sunshine state but a potential gold mine. Florida is a fascinating state when it comes to the real estate industry, especially owning and buying rental properties. There is currently an increase in demand for homes, especially single-family homes, which sometimes doesn’t translate to more homebuyers. Though Florida prides itself in low housing prices statewide, people often opt for renting rather than buying, which in turn has skyrocketed the rental rates of Florida.

Amidst these complications is the low property tax and insurance, as well as no state income tax. Florida is an excellent state for retirees, and many who prefers enjoying the comforts of life. In short, Florida’s real estate market can be said to be one of the most complicated in the world. If you are an investor, you need to be clear about where to buy an investment property in Florida if you’re going to meet up with investment goals.

You can work with the number 1 wholesaler in Tampa, Florida to get the best investment property now!

Where To Buy An Investment Property In Florida

Increasingly, the population in Florida keeps growing, with over 20 million people currently living in the state. This population boom translates to much potential for home buyers and property investors. So, once you know where to buy an investment property in Florida, you definitely wouldn’t have any problem selling or renting for good returns in the market.

However, can you easily find distressed homeowners in Florida, a place with one of the best opportunities for buying, renovating, and selling houses? Knowing where to buy an investment property in Florida is a difficult task for new investors who are conscious of investment success. There are many options of where to buy an investment property in Florida, however, if you’re looking for a ripe market that can yield returns quickly with less stress, think of Tampa, Florida.

The Investway Group, provides adequate resources for Tampa, Florida real estate investment.

Tampa, FL

There is currently an increase in home prices in Tampa, Florida. However, intelligent investors can still find properties at affordable prices, rent them out, and generate wealth. Tampa’s economic prospects have boosted the city’s attraction for rental property owners. It is a fact that the year-over-year employment growth of Tampa beats the Country’s average. U.S. nonfarm employment rate increased approximately by 1.6% from 2017 to 2018, while Tampa managed a staggering 2.3% increase, according to the Bureau of Labor Statistics.

Tampa’s employment sector consists of one of the top-10 fastest-growing occupations in the Country following BLS Employment Projections. Healthcare and Social assistance are the most common employment sector in Tampa, with jobs like; nurse practitioners, home health aides, physician assistants, and personal care aides.

Highlighted below is a breakdown of some prominent figures to consider when looking for where to buy an investment property in Tampa, Florida.

Median list Price – All homes: $312,995
Median list price – Condo: $239,900
Median rent: $1,405
Rent list price: $1,527
Average 30-year fixed mortgage rate: 4.40%
1-year job growth rate: 2.3%
5-year population growth: 12%

The projection of Tampa’s population is perfect for potential property owners and investors. Since the year 2013, Tampa’s population has increased by an impressive 12%, which is one of the highest in the Country. Tampa’s local economy is worth a staggering $130 billion, making it one of the best locations to buy and own rental and investment properties.

Having understood the potential of the Tampa real estate market, investors will agree that it is one of the best places to buy an investment property in Florida. However, one cannot just jump to the field and start buying without knowing full well where to buy an investment property that can yield high returns. Check out the Investway Group of Florida who has been providing profitable investment property for about a decade.

Getting The Best Leads

For better investment decisions and direction in Tampa’s complicated real estate market, it is better to work with an established investment company with hands-on experience in the Tampa market. More reason why you have to work with the InvestWay group, to get investment properties that can fit your financial and investment goals.

The InvestWay group is a real estate investment company with the best wholesale investment properties in Florida. We have been operating in the Florida real estate market for close to a decade and has so far established ourselves as the wholesaler where other wholesalers purchase their wholesale investment properties. We are buying investment properties with a high potential market value in the as-is condition, spruce them up and resell for good profits, which enables us to deliver high investment returns to our partners and investors.

If you are looking for where to buy an investment property in Tampa, Florida, think InvestWay Group. Working with our dedicated team gives you a lifetime guarantee of success in the Tampa, FL real estate business.

If you are excited by the investment possibilities in Tampa, Florida, get in touch with us at the InvestWay Group today, the cheapest place to buy investment property in Tampa, Fl.

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THINGS TO CONSIDER WHEN BUYING AN INVESTMENT PROPERTY

The business of purchasing an investment property can mostly be fun and exciting for new investors. However, there are lots of things that goes into buying an investment property. Buying an investment property is a huge investment and so requires more from you than fun and excitement. It is not just about selecting the most beautiful or the biggest property. It requires your time and attention, reason why investors are separated into classes; successful and struggling. To help you make the right choice when buying an investment property, at InvestWay Group, we have compiled some basic mistakes real estate investors make. Contact the Investway Group now to get the best investment assistance in Tampa, Florida.

Common Mistakes Made When Buying An Investment Property

Negligence of Due Diligence: Before buying an investment property, you need to investigate the actual worth, the pros and cons of the property that you are planning to buy. When you carry out due diligence on the process, it helps you know what similar properties are worth, and their price tags. Due diligence helps you know the benefits of buying from a particular neighborhood, and helps you with profit projection. Without due diligence, you can never know the property’s market value, which is tantamount to a bad purchase.

Streamlined Options: When buying an investment property, there are countless options before you. You need to look at the different investment properties available in the area of interest before committing to one. For maximum success in real estate investing, you must not rely on just one source of information. Always know that a realtor’s major goal is to close a deal, and most of them would say anything just to get you to buy. Once you buy, they get their profit, and care less about your investment pitfalls. Realtors are mostly an excellent source of information, however, it is better to avoid taking financial advice from them, and seeking out which deal is better or good from them.

Enjoy a variety of Tampa investment property by calling the Investway Group today!

High bid at auctions: When buying an investment property, bidding war is a bad pointer. If you come in contact with an investment property another buyer is highly interested in, it is better not to get too involved. Getting into a bidding war makes you offer an unreasonable price for the property without due diligence; knowing the property’s worth.

Investing in a depreciating market: When buying an investment property, don’t be over excited that you are getting a ridiculously low price – it could mean doom. Never buy an investment property in a depreciating market where the prices are falling. When you buy, you do so in hope of an appreciation, not a depreciation. Your calculations for a rise mostly won’t work, so it is better to stay off.

Not having a sizable deposit: When buying an investment property, a big deposit saved up helps you to buy the choicest property and not just what you can afford. It is better to buy a suitable property that fits your investment goals, rather than being forced to buy because it is all you can financially afford.

Emotional mix: You need to see a property as an investment that can yield profit, as an investor. Never buy an investment property because of any emotional attachment. Getting attached emotionally to a property will cause you to overpay, with an increased chance of completing a bad deal.

Failure to consider other expenses: In the process of buying an investment property, it is a costly mistake to think that all you will be paying for is the property’s purchase price. There are many other expenses associated with buying an investment property, which you must consider in order to end up with a good deal.

Contact the Investway Group to get analyzed Tampa investment properties now!

Negative Cash flow: Maintaining a healthy cash flow position is key as an investor. A positive cash flow property makes you money, with little or no contribution on your part. This helps you increase your investment in the future, and helps drive your desired investment goals.

Buying an investment property can’t make you rich overnight, however it can make you rich in due time when all these mistakes are avoided. It’s all about educating yourself, listing your goals, creating a solid plan, doing your research, investing, and repeating the process.

To ease the process and get great deals, it is better to work with an investment property firm like the Investway Group in Tampa, Florida. Get started here!