Real estate investment is still one of the best choices for investors in pursuit of reliable wealth accumulation. Tampa, Florida properties are especially appealing because of the city’s growing job market. The community is growing rapidly, and real estate in FL will not likely buck the trend any time soon.
Six Tips for Finding a Great Real Estate Investment
For those looking into real estate as investment opportunities expand, caution is wise. Not every prospect is a good one for real estate. Florida investors differentiate between potential real estate FL opportunities, and the experts at Bay To Gulf Holdings recommend following these real estate investment tips:
1. Follow the One-Percent Rule
Savvy investors apply the one-percent rule when looking for opportunities among Tampa, Florida, new homes. According to the rule, a real estate investment property that cannot rent for at least one percent of the upfront cost is a bad investment. The total upfront cost must include the outlay for making the property marketable.
For example, if Tampa, Florida homes for sale cost $500,000, they should rent for at least $5,000 per month. If not, it isn’t the best real estate investment.
2. Investigate Zoning
Potential investors should also verify that the zoning laws governing the property favor their real estate development plans. Bay To Gulf Holdings can assist investors with a visit to the Tampa, Florida housing authority. Check the targeted property’s zoning designation and then make decisions about pricing and other commitments.
3. Inspect the Property
Performing real estate investment online is convenient, but doing so without inspecting the property in person is risky. It is always best to have an expert inspect the roofline and overall property condition before investing in Tampa, Florida condos for sale. For example, if the roof or other components are in terrible shape, the investor could negotiate a reduced asking price that reflects the repair costs.
International or out-of-town investors also have the option of hiring Florida real estate agents like Bay To Gulf Holdings to inspect properties on their behalf.
4. Shop in Urban Areas
Investors that hope to resell or rent out an investment property quickly are better off investing in more developed areas. Data from the Florida real estate market shows that properties close to public transportation, restaurants, schools, and other amenities are in higher demand.
5. Choose More Bedrooms
When looking for real estate investment near me in Tampa, Bay To Gulf Holdings recommends prioritizing a property’s bedrooms over the building’s overall size. More bedrooms and bathrooms will earn more rental income and attract greater attention on the market listings.
6. Compare The Price to the County Appraisal Value
Identify potentially profitable real estate investment opportunities by comparing the property’s asking price to its county appraisal value. If the county value assessment is lower than the real estate (Tampa, FL) asking price, investing in that opportunity may fetch an attractive profit if the investor moves quickly. A Florida real estate agency like Bay To Gulf Holdings assists investors with the necessary research to verify a property’s potential profitability in this way.
Bay To Gulf Holdings is one of Tampa’s leading real estate investment companies. The real estate investment firm has several years of experience providing Florida real estate investors with tailored solutions that include the best investment opportunities and comprehensive real estate investment management services. Contact Bay To Gulf Holdings today at (813) 476-3199 or [email protected] for real estate investment services or more information about rental properties near Tampa, Florida.