Hi, I’m Mark with Rent It Network. Our firm specializes in managing single family homes, condominiums, town homes and multi-family properties throughout the Tampa Bay area including the counties of Hillsborough, Pasco, Pinellas and Manatee.
Today I am discussing areas where you should consider buying investment properties.
When you’re trying to decide where in the Tampa Bay area to buy investment property, you’ll need to define your goals first and determine whether you are hoping to hold onto the property for the long term or the short term. At Rent it Network, we work with investors who are doing both; and they’ve been successful. This is still a great market to buy rental properties.
As you’re looking at various neighborhoods and considering different properties, we always recommend that you focus on single family homes, condominiums and townhouses. These offer you the best investment potential and attract the best renters. You’ll find a lot of prospective tenants would like to buy their own homes, but they can’t right now. However, they still want to feel like they are living in a home, and not an apartment building. Think about that when you’re shopping for an investment property. Your best tenants will be looking for privacy, space and amenities.
In the Tampa area, some of the neighborhoods you want to look at include Brandon, Riverview and FishHawk. These are residential, suburban areas outside of Tampa with excellent schools and lots of community and recreational opportunities. You’ll find plenty of new housing developments at great prices, and these rentals are always in demand. A couple of other communities closer to the city of Tampa include South Tampa and Westchase. These are desirable locations in the area and you’ll find well-maintained homes that are appealing to renters.
Within an hour’s commute of downtown Tampa are neighborhoods like New Port Richey, Trinity, Palm Harbor, Holiday and Tarpon Springs. These are quiet communities close to the water, and you’ll find great deals on investment properties as well as plenty of renters eager to find reasonably priced homes.
Always talk to a property manager before you buy an investment property. You’ll want to know what kind of rent you can expect and whether you’ll have a strong pool of rental applicants. If you have any questions or you’d like help finding investment properties in the Tampa area, please contact us at Rent it Network, and we’d be happy to help you find the ideal property.