Running along Florida’s beloved Gulf Coast, Tampa is a growing area for centralized business. It’s home to some of the most well-known museums, showcases Cuban and Spanish cultures with flare, and is a streamlined area for new and seasoned fix and flip investors. Tampa’s market is as hot as the nightlife, always flowing and overturning with adventure. If you’re in the market for a Florida fix and flip, Tampa is an excellent choice.
TAMPA’S BOOMING ECONOMY
When you’re looking for a Florida fix and flip property, Tampa’s the perfect city. Firstly, there is consistent development in the area. The local government is always advocating for new real estate projects. Additionally, the economy thrives off of the millennial generation, filled with STEM-related occupations, tourism, and the local military bases. Together, this contributes to significant growth in jobs and local values. Due to Tampa’s constantly advancing market, it’s one of the fast-growing metros in the nation.
In 2020, Tampa’s new construction projects led to 34,000 new jobs in the city, making it a leader in employment growth for the entire state of Florida. In addition to creating job opportunities, Tampa is home to the University of South Florida, the University of Tampa, Hillsborough Community College, and Stetson College of Law. This provides an increased upturn for local businesses, rental properties, and the overall economic rise in Tampa’s community.
Tampa is one of the most well-known cities, which is why it may seem shocking that it has such an affordable market for investment property. In 2019, it was ranked first in most affordable markets for home buyers. It rose in home prices by 3.5% from the investors that recognized its value. With an increase in economic, job, and population growth, the metro city is one of the top Florida fix and flip areas to invest in.
One of the many great things about Tampa is that it’s investment-friendly, making the local Airbnb laws a welcome-for-business sign. The city itself thrives off of tourism to further push its booming economy. Thus, it has a strong demand for short-term rentals. This makes it the perfect investment to host vacation rentals since it’s ordinance-friendly.
During peak seasons, Tampa rentals are estimated to earn almost $2,500 from short-term rental platforms like Airbnb. For longer-term renting, the average ranges from $1,900-$2,000, which is still a hefty return for investments with loans.
BEST TAMPA NEIGHBORHOODS
Like every great investment city, Tampa has a variety of neighborhoods that bring in a profit. Whether you’re looking for a traditional or short-term kind of deal, these neighborhoods have the best setup for your investment needs.
- Sulphur Springs – While traditional rent averages around $1,000 per month, VCSO/Airbnb rates bring in closer to $2,000. You can easily find both long-term and short-term renters in this area.
- Sun Bay South – Bringing in roughly $1,800 for traditional renting and up to $3,200 for short-term leases, the area can bring anywhere from 3-6% return on your investment in a 6-month time frame.
- Old West Tampa – Averaging at $1,800 with traditional rentals and $2,250 for short-term rentals, this area brings in gorgeous views of the Hillsborough River and is prime real estate for investors.
We’ll Help Fund Your Florida Fix and Flip Investments
Tampa is filled with investment opportunities for all of your flip and fix desires. If you’re looking for funding on residential property, we’ve got you covered. Our team of experts is constantly monitoring the market to ensure you’re getting the best rates on loans, the best deals on investment homes, and working to bring you high-quality service when it comes to a transparent process in all of your investment endeavors.
Built for Investors by Investors
i Fund Cities is an “alternative” lending platform offering custom real estate funding options for every level of investor, across a full range of lending products. As investors ourselves, we are just like you: hustle and grit, not suit and tie.
We give you speed, transparency, knowledge, and a personalized investing partnership that you are just not going to find anywhere else.