Who is the BEST Moving Company in Tampa?  Why I was determined to find the best movers in Tampa.

I’ve come to realize I’m a person who does not like change, and moving, no matter how you look at it, is change. It’s my turn to move, and you’d think I’d never read any of the moving articles that I’ve posted on my blog over the past seven years.

You’re going from a place you know and like and that you’re comfortable with to an unknown; it is a little scary, even if you love where you’re going. Even though I sell houses and help my clients with the closing process, it is a stressful ordeal. Add moving into the mix and it might send me over the edge.

Moving forces people to have conversations about things they normally wouldn’t discuss. Just mention that you’re moving and people want to know why and where. Curiosity is human nature. Moving is kind of a big deal.

What if you had to do a short sale on your house and people kept asking you why you were moving? Would you want to have that conversation repeatedly about how you can’t afford your mortgage payment? Probably not. But there are plenty people in that situation.

Don’t forget the stress of getting the three moving-truck-quotes websites suggest you get, and finding out which company is going to give the best deal.

TIP: When buying a new home, you may want to consider closing on your new home and allowing two weeks to move from your old house.

I decided to splurge this year and actually hire a full-service moving company and have the Tampa movers pack me. They arrive, pack and move all in one day and it’s done. The day before the move, I hadn’t packed a thing other than my jewelry and important documents. Movers apparently do not insure those items.

I was hoping the moving company would do a wonderful job and I would be able to refer my clients and friends to them. Having great movers would take a lot of stress out of the whole situation.

It’s been a week since the move, and there are only three, small boxes sitting in my living room. It was very good experience; the movers worked well together and truly enjoyed their job. Even better, they came in under budget. I hadn’t really known what to expect, but I will say that this was a stress-free move — if there is such a thing.

The pictures are hung, and I’m starting to feel relief. It’s great to say “wow that was easy”.

The post My search to find the BEST moving company in Tampa appeared first on The Tampa Real Estate Insider.

If you’re looking to buy a house in today’s hot market, you may choose a home that needs some renovations — especially if you’re a first-time homebuyer. These are our top eight remodeling tips for first-time home buyers.

#1. Know Your Mortgage Options

First, you need to figure out how you will pay for your new home and any renovations you would like to complete. The good news is there are several renovation loan options, including:

• FHA 203(k): This loan is offered through the Federal Housing Administration and allows people with lower incomes and credit scores to obtain a mortgage loan.
• VA Renovation Loan: The Department of Veterans Affairs recently changed its VA loan guidelines to include purchasing and renovating homes. You must work with a VA-approved contractor.
• HomeStyle: These loans are guaranteed by Fannie Mae and require a higher credit score than the FHA 203(k) loan. Most improvements are eligible, including luxury renovations like landscaping and pools.
• CHOICERenovation loan: These mortgage loans are guaranteed by Freddie Mac and are intended for improvements that help homes withstand natural disasters and other upgrades. Borrowers can make the repairs themselves before closing and earn a down payment credit.

#2. Increase Efficiency, Not Size

Focus on making the space as efficient as possible, rather than focusing on the overall size of the home. Creating open spaces and open floor plans will help. Adding additional storage options is another effective solution.

#3. Bring in Natural Light Without Adding Windows

Cutting large holes, rearranging window framing, and buying windows gets very expensive. Instead, consider installing light tubes that slip between roof rafters and funnel sunshine directly into your living space.

#4. Sharpen Your DIY Skills

When you buy a fixer-upper, it’s obvious that home improvements are on the horizon. But, there will likely be a lot more hands-on work involved than you may expect. Things will go wrong, and repairs can completely derail your schedule. If you’re not a fan of doing it yourself and getting your hands dirty, a fixer-upper may end up being much more expensive than you budgeted for.

#5. Plan for Two Inspections

When buying a fixer-upper, you shouldn’t be surprised when the home inspection comes back with a long list of problems. If you are planning to negotiate with the sellers on these issues, have your home inspector come back to ensure all requested repairs have been completed as agreed before closing. This protects you from last-minute surprises that pop up after the first inspection. The good news is that most home inspectors offer second inspections at deeply discounted rates.

#6. Prioritize and Tackle One Project at a Time

A whole-house renovation is a tall task that can overwhelm even the most seasoned home flipper. Start by prioritizing which areas you want to complete first, then take on one project at a time. For example, the kitchen, bathroom, and other high-use areas should be fixed before the basement or backyard. A list of priorities will greatly reduce the stress and disruption that comes along with home renovations.

#7. Overestimate Your Costs

Contractor estimates change quickly in the world of home improvement – and it’s usually not in your favor. For this reason, you should overestimate how much each project will cost, so you don’t find yourself in a situation where you run out of money. Consider your budget and the overestimation for repairs when making your initial offer on the house. Be sure to include all of the materials and labor needed to make the home your own, then subtract that figure from what the value will be after the renovations. Experts also advise adding an additional 5 to 10 percent into your budget for any unexpected issues that arise or additional projects you want to tackle as you move through the renovation process.

#8. Read Reviews

Once the heavy lifting is done, it’s time for the fun part: choosing furniture, fixtures, and other home accessories. Our biggest piece of advice for this part is to find reputable reviews online and read them. For example, furniture reviews can help you save the time and money that go into buying a low-rated or low-quality piece of furniture.

If there’s one thing remodeling has taught us, it’s to expect the unexpected and be prepared for anything. With some careful planning and some tender love and care, you will have an HGTV worthy makeover in no time.

The post To Renovate or Not to Renovate – 8 Remodel Tips for First Time Home Buyer appeared first on The Tampa Real Estate Insider.

Ripple Effects from the Pandemic: What Will and Won’t Change in Tampa Real Estate

Are Tiny Houses in Peril? Maybe, But Interest Rates Will Stay Rock Bottom

First off, here’s an update from my universe: I’m hearing from clients and old friends, only to find out that people are making plans to move forward with their lives. I feel that everybody who is buying right now has a reason. People are deciding what they want as we enter the peak of the pandemic and move past it, and they’re already starting to think about how they’re going to make changes. Many of those changes involve moving!

There is more activity in the Tampa real-estate market than you might suspect. Money magazine reports: 

“Many real estate agents are optimistic that the market will soon snap back. Pending home sales went up 6.2% in the week ending April 19, Zillow reports. And, after falling for five weeks, mortgage applications rose 12% for the week ending April 24, compared with the previous week, according to the Mortgage Bankers Association.”

What WON’T Change – Interest Rates

Elliot Eisenberg, Ph.D., consulting economist for Greater Tampa REALTORS, says interest rates will say low, low, low because the last thing that the Federal Reserve will want to do is interfere with the nation’s economic recovery.

Not to say that everything is roses during COVID-19. When new stats are compiled, April home sales will, of course, show a decline because of the pandemic, Eisenberg says. 

But the fact that inventory – the stock of available houses – is at record lows means that the housing market is not headed for that disastrous burst-bubble thing it did more than a decade ago. It is still a seller’s market here in Tampa Bay. He predicts a brief economic downtown from which Florida may recover soonest because of more people relocating to the Sunshine State.

The Tiny House Movement – Speeding Ahead or Stalled?

While some cities (think: San Diego with its new proposal to expand zoning laws) are turning to tiny houses to help create more affordable housing, other experts predict that the pandemic may put an end to the movement. In an article in The Atlantic, “The Pandemic has Made a Mockery of Minimalism,” the author points out that drastically paring down one’s space and belongings doesn’t make much sense for people confined to their homes for weeks or months.

Two factors present during the pandemic might work against tiny homes. 

• One is that more people are working from home, and this shift in the workforce could take root and become more permanent. That means people will be looking for more square footage in their homes so they can carve out a dedicated workspace.
• A second reason is that tiny homes work best for people who spend a lot of time outside of them. They’re either at their employer’s workplace or hanging out in the sorts of large, public congregating areas that are the first to shut down in times of crisis. Tiny houses in big cities also can pack people densely in close quarters, which may not be the most desirable state of affairs in the future.

I suspect that social distancing practices will spill over into the way we approach our home lives, and I can see a new standard emerging. The three-bedroom, two-bath minimum requirement so many buyers adopted over the years may be replaced with a desire for larger homes with a minimum of four bedrooms. I wouldn’t be surprised to see an increase in sales of five-bedroom homes as well – plus larger lot sizes. Lots close to other neighbors might not be as attractive anymore. And nuclear families may have to merge as the generations once again consider living together. But we’ll see!

What’s Your Story?

If you’re thinking of making changes post-COVID-19 that involve real estate, I can help you navigate the way. There’s no reason to put your life on hold forever. As that Money magazine article also states: “Despite the difficulty of listing and closing house sales, many real estate market fundamentals are strong, real estate experts say.” If you’re planning to upsize or downsize, move out to the country, relocate to be closer to family – whatever your circumstance, give me a shout!

Check out our inventory of 4 bedroom plus homes for sale here!

The post Is Tampa a Buyer’s or Seller’s Market-Ripple Effects from COVID appeared first on The Tampa Real Estate Insider.

As a Tampa Realtor, one of the most common questions I’m asked by buyers is “who pays the commission?”

A Buyer’s Agent is compensated by splitting the Listing Agent’s commission, so it cost you nothing.

So what does a Buyer’s Agent actually do, and why do I need one?

A well accomplished Realtor will be able to help you purchase a home in many ways you may not have thought about. First, a Buyer’s Agent is working for you and has your best interest in mind. Think of the relationship as having your own personal representation from someone who is going to guide you in the right direction and negotiate the best possible price on your behalf.  While you, as a buyer are looking at all bells and whistles, like granite counter tops and stainless steel appliances, your agent may notice little things that most buyers wouldn’t think of looking for. They will point things out about the home such as: Stains on the ceiling from possible water intrusion, stucco repairs to the outside, or termite damage.  In addition to pointing out defects of a home, a good Buyer’s Agent will be able to explain in detail the terms of the contract and leave you with a “way out” should you decide not to proceed due to a home inspection that revealed issues, or if a home doesn’t appraise for the purchase price.

The Goal of a Listing Agent:

To get the best possible price for the owner in the shortest period of time. A listing agent works for the seller and may not be able to disclose certain pertinent information to you, such as what the seller’s bottom line is, or what their motivation is for selling. A listing agent can also use the information you give them to relay your thoughts and feelings back to the seller. Let’s say you are really excited about a home and disclose this to the listing agent who showed you the home. You then decide to make an offer with the listing agent who knows you love the home. The listing agent will most likely tell the seller that they believe you will come up in price based on your emotional attachment to the house.

Good Questions to Ask a Realtor who is a Buyer’s Agent:

• How much was the home listed for originally and how many price reductions were done?
• How many days the home has been on the market?
• Can you give me any history of the home in (MLS), Multiple Listing Service i.e…. if it was listed prior with another Realtor and how much they were asking at that time?
• Information about property taxes and how much they will go up next year?
• What is Homestead Tax Exemptions and how does it work?
• What is the neighborhood’s popularity and where are the good schools?
• What homes sold for in a particular neighborhood, called a Comparable Market Analysis.
• How do short sales work?
• Can I put more than one offer in at the same time?
• Are there any outstanding permits that have not been closed out?

If Real Estate Buyer’s Agents are free to use, why wouldn’t you want to use one?

Don’t pick the first agent you speak with, instead interview at least two agents to determine who is the right fit for you.  You should also ask for recommendations from their past clients, and do a Google search for their name. You’d be surprised at what you can find out.

If you are thinking of purchasing a home and would me to represent you as your real estate agent in the Tampa Bay area, you can contact us here. 

The post Why Use a Buyer’s Real Estate Agent Instead of a Listing Agent? Tampa, Fl appeared first on The Tampa Real Estate Insider.

Waterfront Condos and townhomes in St. Pete starting in the 200’s ….

Wide-open unobstructed WATER VIEWS from this second-story, completely updated condo at Waterside at Coquina Key. Enjoy cool breezes and watch the wildlife every day on your tropical balcony. Yes, you’ll even see the dolphins swimming by! The unit faces East, so you’ll get a lovely sunrise in the morning without the intense sun in the afternoon. Hardwood flooring throughout the unit with ceramic tile in the kitchen and bath. The kitchen is oversized with a breakfast bar, tons of storage, and counter space. Recent renovations include new drywall, an island counter in the kitchen, new cabinets, laundry added with full-size washer and dryer, new stainless steel appliances, granite countertops, new plumbing, new modern bath with a glass-enclosed shower, AC 2015, and a new electrical panel. Waterside at Coquina Key boasts 88 acres of lush grounds and is a Resort Community with on-site Key West Style Club House that hosts weekly events for the residents. Prime location just 10 minutes to Downtown St. Pete, shopping, upscale restaurants, music venues, and art studios. The famous Vinoy Golf Course, waterfront restaurants to dock your boat for lunch, and the new St. Pete Pier are also nearby. St. Pete Beach is ONLY 15 minutes away, and Tampa Int’l airport 35 minutes. You won’t find a more breathtaking waterfront view for this price! If you are looking for an excellent getaway for a month or seasonal, use it when you want and rent it out through the on-site property manager or airbnb it! Beautiful lush grounds, on-site café/bar with happy hour specials, two pools, one heated year-round, and facing the bay with open views and a spa! There’s also a fitness center, kayak storage, volleyball, tennis, 24-hour guard, fishing pier, and more. Ask your agent about boat slips listed for sale in MLS that can be purchased separately! Call today to see this fantastic condo before it’s gone!

Waterside Yacht club with private Resident-only restaurant and bar
Boat docks, boat slips, lifts and dry storage available
Lighted tennis and sand volleyball courts
3 resort swimming pools and spas in the Gulf Coast tradition
3 miles of sea wall for strolling and watching glorious sunsets
88 acres of lush, colorfully landscaped grounds
2 state-of-the-art fitness centers with saunas and cardio theater
24-hour staffed gatehouse for your peace of mind

If you are looking for a great deal on a waterfront property, you’ve found it! Perfect for vacation or second homeowners because SHORT TERM Rentals are allowed.  Boat Slips are also for sale!

Call me for a showing and additional information 813-784-7744

St Petersburg Fl Homes For Sale

Contact me here: Rae Anna Conforti, Realtor

The post Waterside at Coquina Key Waterfront Condos in St. Pete starting in the 200’s appeared first on The Tampa Real Estate Insider.

Have you ever heard of selling anything, including a home, by using the process of elimination?

If something isn’t working currently, then we analyze the possible reasons why. If your home is currently listed for sale and it’s not selling, there is a reason.

First, let’s take a look at the key factors of selling a home:

1. Price of Home.

Price is one of the main determining factors of why anything doesn’t sell, including your home. Overpricing a home will lead to disappointment, fewer showings, and a waste of everyone’s time and energy. You can read more about overpricing versus underpricing your home here.

Good agents will tell you honestly what your home may be worth to a potential buyer. Keep in mind; there are plenty of Realtors out there who will tell you what you want to hear, which isn’t always the truth. Overpricing a home is part of how they get your house listed.

One of the first questions a buyer will ask their Realtor is, “How long has this home been on the market?” In fact, in today’s day and age, they usually find out themselves using websites like Zillow. If your home has been sitting on the market for an unusually long period of time, buyers will think something is wrong with your home!

Here’s a straightforward way to avoid overpricing your home. Interview three real estate agents and see what they think your home is worth. If two agents say it’s worth $400,000 and one says $500,000, then you know it’s closer to $400,000.

Your home is priced right; now what? Once you’ve concluded that price is not the problem, then you can move on to the next step in the process of elimination.

2. Condition of Home. 

What is the condition of your home?  For the most part, today’s homebuyers don’t want to buy your “project” — they’ll go down the street and buy a home that is “move-in ready.” I won’t go into too much detail here. Just watch HGTV and use some common sense. Don’t leave questions in the buyer’s mind about how much money it will take for them to move in. Replace carpet, paint, touch up, and clean! If you want top dollar for your house, then take any possible questions out of a buyer’s mind about the home’s condition. For everything a buyer has to do to make your home move-in ready, they will take thousands off an offer amount, and if you are lucky, you’ll get a low-ball offer.

If you want top dollar for your house, then take any possible questions out of a buyer’s mind about the home’s condition. For everything a buyer has to do to make your home move-in ready, they will take thousands off an offer amount … and if you are lucky, you’ll get a low-ball offer.  You can read more about how to prepare your house for sale here.

3. How Mistakes in Marketing Your House Will Decrease The Bottom Line.

How you market your home is huge! One of the biggest mistakes Realtors make when selling homes is that they don’t take the unique qualities of each and every home into consideration. Our job is to come up with a strategic marketing plan that will set your house apart from the competition and get qualified buyers in the door.

Gorgeous photography will get buyers in your home!

The biggest mistake I see Realtors make when marketing listings is using poor photography in their marketing. I got the inspiration to write this whole article based on a current listing on the market with another Realtor. The seller contacted me and wants to re-list the property with another agent because they are not happy with their traffic. The first thing I do is look at what other agents are not doing right! The photography was blurry and taken with a camera phone. You could hardly make out the photos. It’s a disgrace that this home has been on the market for six months with photos that look unprofessional.

If your home isn’t selling, then it’s time to look at these three components of what’s being done to move the property — and make a change if something’s not working.

If you are thinking of switching Realtors and are in the Tampa, St. Petersburg, or Clearwater areas, you can contact my team and me here.

Looking for more buying and selling tips? Head over to porch.com and check out their article from agents around the country.

The post 3 Reasons Your Home Won’t Sell | Is Switching Realtors The Answer? appeared first on The Tampa Real Estate Insider.

It seems everyone wants to know how to find the best neighborhood in the Tampa Bay area, and we can help you. 

What defines the Best Neighborhood in Tampa? 

A great neighborhood can mean different things to different people.  School ratings, location to amenities, age of homes, distance to parks, how far it is to the beach…etc.

Think about where you live now and all the things you love about your neighborhood. Chances are, you’ll want to find the BEST neighborhood for you when you move to Tampa, and the same things you love about where you live now will determine where you live next!

There’s much more that needs to be considered when purchasing a home, but these are the main concerns for many families relocating to our area.

Here’s a link I posted a while back on The BEST neighborhoods in Tampa so feel free to check it out.

Tampa, Florida is a vibrant and diverse city with many great neighborhoods to choose from. Whether you’re looking for a trendy urban area or a quiet suburban community, Tampa has something for everyone. Here are some of the best neighborhoods in Tampa:

1. South Tampa: This upscale neighborhood is known for its beautiful homes, tree-lined streets, and proximity to the city’s best restaurants and shops. South Tampa is home to many of the city’s most affluent residents, and it’s a great place to live if you’re looking for a more upscale lifestyle.
2. Ybor City: This historic neighborhood is known for its Cuban heritage and vibrant nightlife. Ybor City is home to many of the city’s best bars, restaurants, and clubs, and it’s a great place to live if you’re looking for a more bohemian vibe.
3. Channelside: This trendy neighborhood is located on the waterfront and is home to many of the city’s best restaurants, bars, and shops. Channelside is a great place to live if you’re looking for a more urban lifestyle and enjoy the waterfront.
4. Hyde Park: This historic neighborhood is known for its beautiful homes, tree-lined streets, and proximity to the city’s best restaurants and shops. Hyde Park is a great place to live if you’re looking for a more upscale lifestyle with a touch of history.
5. Westshore: This neighborhood is known for its proximity to Tampa International Airport and the Westshore Business District. Westshore is a great place to live if you’re looking for a more suburban lifestyle with easy access to the city’s business district.

Overall, Tampa is a great city with many different neighborhoods to choose from. Whether you’re looking for a trendy urban lifestyle or a quiet suburban community, Tampa has something for everyone. As you can see, each neighborhood has its unique charm and it’s important to research and find the one that suits your lifestyle and needs the best.

The City of Tampa has some resources as well. You really need to navigate the site because there is so much information.  This link is a good place to start!

The post Tampa Florida- Best Neighborhoods, Resources and MORE! appeared first on The Tampa Real Estate Insider.

Stunning Rent Rises Might Open Way for Investors as Well as First-Home Buyers

As a Tampa Realtor working with clients who want to relocate from another city, I’m often asked about the pros and cons of buying versus renting. I recently did a blog post diving into the details of fresh studies showing that, in the Tampa real estate market, if you want to win financially in the long run, your best bet is to buy, not rent.

Now new figures have come along that shed more light on the region’s rental markets. This data holds value whether you’re making a personal life choice – a rent-or-buy calculation on the home front – or a decision as an investor researching whether renting out a home would provide a good financial return.

Rent Café is a nationwide apartment search website, part of Yardi. The organization provides original research, in-depth analysis and insights about real estate from city to city. Yardi’s research has turned up a solid five-year trendline showing that Florida, in contrast to nation’s hottest real estate markets, is showing rents going up, up, up.

One of the more dramatic examples is St. Petersburg, where the average rent increased by more than 9 percent over the past year. Over five years, St. Pete’s rents have spiked upward at a rate sharper than the nation’s. 

• A studio apartment that rented for $700 in 2013 commands a monthly rent of $865 today.
• A one-bedroom apartment that cost the renter about $800 in 2013 shot up to a monthly rent of more than $1,100 today.
• A landlord charging just a hair over $1,300 for a three-bedroom apartment in 2013 can ask more than $1,700 for the same unit today.

Search homes for sale in St. Pete here

Tampa rent trends show a similar pattern, but without St. Pete’s overall sharper spike.

• A studio costing around $600 in 2013 now goes for $835.
• A one-bedroom apartment that cost the renter about $800 in 2013, still about $100 a month cheaper than in St. Pete, costs the renter about $1,000 today.
• A landlord charging somewhat more than $1,300 for a three-bedroom apartment in 2013 (getting about $100 per month less than a landlord in St. Pete) can charge the renter more than $1,600 today.

Search Tampa Homes for Sale here

In none of the hot Florida markets that Yardi studied did rents decrease. Miami’s rent growth, at 2.4 percent, is much slower than Tampa’s or St. Pete’s, but Miami is still, of course, a more expensive city to live in. Average rent in Miami is $1,610, compared with St. Pete’s $1,258 and Tampa’s $1,217.

If you’re interested – and I know you are; everyone’s always fascinated by the price of properties in Florida – the most expensive cities for Florida’s renters are Fort Lauderdale and Miramar. Orlando falls No. 2 behind St. Pete on the list of cities with the fastest-growing rents in the Sunshine State. (Orlando’s growth rate is just over 6 percent.)

In comparison, cities where rents decreased include Charleston, South Carolina; Kansas City, Kansas; Lubbock, Texas; and two New York landmark addresses – Brooklyn and Manhattan. Smaller cities where rents decreased include Bakersfield, California; New Orleans; Tulsa, Oklahoma; and Pittsburgh.

More Reasons to Buy Now

As I reported in my earlier blog post, Tampa home seekers find it 45 percent cheaper to buy than to rent in the long run. Looking at the trends from another perspective – that of the potential investor – there’s much to suggest that the time is also ripe for buying an investment property.

So there’s yet another great reason to buy a home in the greater Tampa Bay area. If you ever need to move for any reason, it’s a good bet you’ll be able to capitalize on your house as a rental property in one of the rental markets in the country where rents grow fastest.

I welcome any comments or thoughts on this article. Please contact me here if you are wanting an agent to assist you with real estate in the Tampa Bay area.

See Also: Garden Apartments: Is this Apartment Type Right for You?

If you like this article, please share!

The post Average Rent Increases by More Than 9% in One Year -St. Pete, FL | Tampa Rising Up appeared first on The Tampa Real Estate Insider.

The rental conditions are very strong here in Tampa Bay.

Does it make sense to invest in real estate now and retire later?

What makes Tampa so great for real estate investors?

One reason we have a great market for investors is our close proximity to MacDill AFB. Military personnel have a guaranteed housing allowance and they usually rent before they buy.  Here is one neighborhood close to the Air Force Base here in Tampa

The second reason, and probably the strongest, is that major companies are relocating to our area by the droves and those people need a place to live before they purchase a home.

Now that you’ve heard of the positive side of being a landlord, here are some obstacles you may face:

Don’t count on buying a condo:

Many condos have restrictions on the percentage of renters vs. owner-occupied.  If the association has restrictions, the building is most likely at their maximum allowable rental capacity.  Most of the condos I’ve seen only allow 20% of the building to be allocated for rentals.  You’ll want to check with your Realtor first if you are thinking of investing in condos, as they may already have knowledge of which communities will allow rentals. Don’t be surprised if there are only a handful.

Here are a few that I have first-hand knowledge of that don’t have a cap on the percentage of rentals.

Currently, the Towers of Channelside in the up and coming Channelside district does not have restrictions on the percentage of rentals.

Another great community that you may want to check out is Cordoba Beach Park a 2/2 condo will rent for $1,800-$2,200 per month. You will not find a better location! Only 6 min to Tampa International Airport, and 30 min to St. Pete Beach!

Another popular area in Tampa is along Tampa Bay called Bayshore Blvd. These condos are right on the water and can be rented as well. Sorry, no Air BnB. A 7-month lease is the minimum time requirement. More about Air BnB rentals in a later post.

How much will I need to put down?

You need 25% to put down on Condos if it’s going to be used as an investment property.  There is an exception if the development has a portfolio lender that is willing to finance a larger amount.

If you only have 5% or 10% to put down, a Single-family home would be a better option for buying an investment property. It just makes sense when you consider it will be easier to get a loan, and there are no restrictions on rentals.  You’ll want to double-check if the house is located in a mandatory homeowner’s association, as sometimes they can enforce restrictions on lease terms.

What can I rent the home for? Here’s an example of home Rental Rates for Tampa.  Remember that these are only averages and the actual rental amount will be greatly influenced by school districts and close proximity to beaches, downtown, and the airport.

A more in-depth report showing average rental rates and trends in both Tampa and St. Pete can be found here: Stunning Rent Rises Might Open Way for Investors as Well as First-Home Buyers

You can search all our MLS Listings here to get an idea of what homes cost in the Tampa, St. Pete, and Clearwater areas.

Want to talk to a Realtor about buying an investment property in Tampa? Give us a holler!

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The post Pros and Cons For Investors Buying Rental Property-Tampa, Fl appeared first on The Tampa Real Estate Insider.

Contact me if you are thinking of buying or selling a home anywhere in the Tampa, St. Pete or Clearwater areas

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