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i'm genuinely sorry, if i seem obtuse, but i am trying to determine core neighborhoods that really are the bottom of acceptable, but maybe i didn't take into account who is on this board, so that trying to get this is out of a normal range for readers here, who probably don't really entertain these lower lines. what i'm really after is determining the neighborhoods that will allow the lowest risk for starting a real estate investment and flip business. i'm doing my own research based on demographics, but hoped that locals might color that. i'm going to be visiting in a week or so to basically investigate these "edge neighborhoods".
You're wasting your time and ours.
If you've done any due diligence at all, you would know that Tampa is one of the areas hit hardest by institutional investors in the past 5-7 years. These so-called "edge areas" have been thoroughly "mined" by investor groups such as Blackrock during this time, cutting most first home buyers out of the market.
I own single family rentals and have bought and sold regularly for over 8 years in the market that you expect to participate in. Unless you've got boots on the ground here and plenty of eyes watching for you you're unlikely to be successful in any sense of the word. I have no idea where you're coming from, but the housing market here is seriously stratified, mainly as a result of the institutional investors and now the home buying services from places like Zillow and OfferPad. They actively troll MLS and other such venues looking for homes - not just distressed properties but those active on MLS, and directly approach the sellers. Any property below $250k in an even remotely marginal area will be thoroughly scrutinized by these buyers and a decision regarding acquisition made within hours in many cases.
I can speak from direct experience that both the institutional investors as well as the buying services are so quick to pounce that the ability to make contact and even get a property under contract before they do is difficult, if not impossible. And that's with cash in hand and a title company ready to close on short notice.
If you're asking questions like these it's clear you're not familiar with the area by any means. Entertaining the idea that you can just "pop in" for a short time and understand or even grasp the mechanics of our housing market is a folly. You have no concept of what you're up against in this market. Best that you just hang with Eleanor where you are.
If you've done any due diligence at all, you would know that Tampa is one of the areas hit hardest by institutional investors in the past 5-7 years. These so-called "edge areas" have been thoroughly "mined" by investor groups such as Blackrock during this time, cutting most first home buyers out of the market.
I own single family rentals and have bought and sold regularly for over 8 years in the market that you expect to participate in. Unless you've got boots on the ground here and plenty of eyes watching for you you're unlikely to be successful in any sense of the word. I have no idea where you're coming from, but the housing market here is seriously stratified, mainly as a result of the institutional investors and now the home buying services from places like Zillow and OfferPad. They actively troll MLS and other such venues looking for homes - not just distressed properties but those active on MLS, and directly approach the sellers. Any property below $250k in an even remotely marginal area will be thoroughly scrutinized by these buyers and a decision regarding acquisition made within hours in many cases.
I can speak from direct experience that both the institutional investors as well as the buying services are so quick to pounce that the ability to make contact and even get a property under contract before they do is difficult, if not impossible. And that's with cash in hand and a title company ready to close on short notice.
If you're asking questions like these it's clear you're not familiar with the area by any means. Entertaining the idea that you can just "pop in" for a short time and understand or even grasp the mechanics of our housing market is a folly. You have no concept of what you're up against in this market. Best that you just hang with Eleanor where you are.
RM
I don't often agree with Morton ^^ but I 100% agree with this. OP, I don't know where you are, but Florida, and especially Tampa Bay/St. Pete is NOT rife with bargains. The RE market is super hot, and neighborhoods are gentrifying at a fast pace. I would look to the midwest. My husbands' family has a number of rentals in Indiana and RE is cheap there.
I don't often agree with Morton ^^ but I 100% agree with this. OP, I don't know where you are, but Florida, and especially Tampa Bay/St. Pete is NOT rife with bargains. The RE market is super hot, and neighborhoods are gentrifying at a fast pace. I would look to the midwest. My husbands' family has a number of rentals in Indiana and RE is cheap there.
Thanks! <blush> I appreciate the compliment.
I would also agree with gypsychic that the Midwest is a far better place to be doing this. I'm very familiar with central Indiana, specifically Indianapolis, and it's much like they describe - real estate is relatively inexpensive and there are a lot of bargains that can be had in marginalized areas that are likely to gentrify in the next 5-10 years.
If you've done any due diligence at all, you would know that Tampa is one of the areas hit hardest by institutional investors in the past 5-7 years. These so-called "edge areas" have been thoroughly "mined" by investor groups such as Blackrock during this time, cutting most first home buyers out of the market.
I own single family rentals and have bought and sold regularly for over 8 years in the market that you expect to participate in. Unless you've got boots on the ground here and plenty of eyes watching for you you're unlikely to be successful in any sense of the word. I have no idea where you're coming from, but the housing market here is seriously stratified, mainly as a result of the institutional investors and now the home buying services from places like Zillow and OfferPad. They actively troll MLS and other such venues looking for homes - not just distressed properties but those active on MLS, and directly approach the sellers. Any property below $250k in an even remotely marginal area will be thoroughly scrutinized by these buyers and a decision regarding acquisition made within hours in many cases.
I can speak from direct experience that both the institutional investors as well as the buying services are so quick to pounce that the ability to make contact and even get a property under contract before they do is difficult, if not impossible. And that's with cash in hand and a title company ready to close on short notice.
If you're asking questions like these it's clear you're not familiar with the area by any means. Entertaining the idea that you can just "pop in" for a short time and understand or even grasp the mechanics of our housing market is a folly. You have no concept of what you're up against in this market. Best that you just hang with Eleanor where you are.
RM
that is pretty funny, morton. how do i waste the time of a guy with nearly four thousand posts on an internet board who could've saved his time by skipping my question or answered with a simple, "can't help ya, dude", instead of writing a thousand words to get your smug pat yourself on the back to impress the girls? (but i will hope for a date for ya.)
good on ya, brother.
ya do offer a nugget or two and you are right that my research to date has been cursory so far, since st pete just really got on my radar and my trip was planned last minute, but you're an investor who doesn't know the realistic entry point to your market? i'm NOT an investor at this point, but i know that the entry point to my market is just under $300k out of pocket purchase price in our market with a median home price of approaching 600k, if you're south or east county and maybe in some of the more hood neighborhoods in the city itself with that maybe going down just a touch, if you're talking about a teardown or a to the studs remodel necessitated. we've got institutional investors here in san diego as well, but maybe further research will show that tampa st. pete is indeed some special case, so thanks again, but can i suggest either maybe just passing or actually just trying to answer someone's question, rather than giving yourself so much credit for your smarts, since your assumptions and gumption sure does illustrate more about you, than me. i'm just trying to get feedback from locals in a way that allowed me to gauge their answers as a hoped for quick help to my own research.
Temple Terrace. East of 56th street, West of the Hillsborough River. $150-700K property, incorporated town with own police force.
thanks. that's something that others apparently have some difficulty understanding. i'm looking for folks who live there just to give me their opinion of the cheapest safe neighborhoods they know, but apparently if i don't tell them i want a ****ing unicorn on my roof, they don't know how to respond. genuinely appreciated.
I'll take any offers of information on cheap property in safe neighborhoods with big thanks.
I'm researching on my end, but figured throwing it out to the locals might better guide me.
Any input is appreciated.
so apparently intentionally broad questions are a little difficult here, so let me clarify. i am doing and will do my own research, but my thought was that this was a great short cut to locals OPINIONS AND VIEWS that could inform my research.
i understand that there are quite a number of short bus riders in our loverly country, (obviously many who don't realize their bus is brief) but "cheap" is relative and my own short bus riding tendencies are not in being totally and entirely unaware of where and what i'm looking at (it was a cleveland forum on this very site that actually impressed me so thoroughly with their civic pride that i actually did take a closer look at a town where you really can buy a home for a literal few bucks), so when i'm asking locals for their opinions that's exactly what i'm seeking and i really do have the wherewithal to assess their answers, while being hopeful that their opinions can perhaps give me more to look at to gauge against my research.
so. my hope was to get the answers from folks who i could probably determine are suburbanites who think crime in heavy commercial districts mean those neighborhoods are scary when the fact is any place people congregate has lots of petty crime. or folks who might be a little nervous around black or brown people. but maybe also working folks who know mixed working neighborhoods that some of those more delicate petals don't understand might be a little less dressed and appealing, but are still fine neighborhoods with lesser costs for their area.
again, sorry, if you see this as difficult, but you really can't see that i've just asked a very answerable question that can be answered with something like "my buddy lives in nirvana estates that i think is pretty rough, but he loves it and their prices start around $200k"? pretty much just like ONE of the answers here did.
i'm asking for your opinions and experiences, not a lecture or lesson, but thanks for your concern.
so, if my dickishness hasn't yet scared you off, what is the cheapest safe neighborhood YOU KNOW?
and, please, feel free to ignore me. i ain't delicate and i'll get the info all on my own with my big boy pants pulled all the way up, but your impressions could help, particularly for my upcoming trip.
seriously, any input that you have is immensely appreciated, but if you just wanna tell me how i'm asking the wrong question, you're missing the point.
I don't often agree with Morton ^^ but I 100% agree with this. OP, I don't know where you are, but Florida, and especially Tampa Bay/St. Pete is NOT rife with bargains. The RE market is super hot, and neighborhoods are gentrifying at a fast pace. I would look to the midwest. My husbands' family has a number of rentals in Indiana and RE is cheap there.
by the by, since i'm just about out the door, which restaurant will the date with morton be, so i can get ya'll a bottle of wine for a great first date?
by the by, since i'm just about out the door, which restaurant will the date with morton be, so i can get ya'll a bottle of wine for a great first date?
Go back to whatever bridge you you crawled out from under.
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