Are you getting started investing in Tampa?
Here’s some real estate investing resources in Tampa for local investors to conduct quick research on your investment deals. The best thing is most of these sites below are completely free!
Here’s a few sites you should get to know:
Zillow is the biggest, baddest real estate website on the block. They are building data on real estate wealth like few other sites. The CEO of Zillow, Spencer Rascoff, said their company’s best asset was their “living database of all homes”.
The Zestimate tool is not always the most accurate. While it’s interesting to see what the computer calculates, you will still need to analyze the comps and evaluate the market for yourself.
Spend a lot of time on Zillow and get to know the intimate details of each property sold in your target Tampa neighborhoods. Really try to identify the psychology of the prices and seek to understand why the seller and buyer picked that point to settle. Remember, each sale is like a tiny piece of a moving puzzle that makes up the whole market. Zillow is an awesome tool for investors to get to know their markets.
Craigslist is a great site. There are huge deals to be found if you spend the time looking on the site. People write terrible ads for great properties.
LoopNet is the granddaddy of commercial real estate investing. If you want to sell a large building to institutional investors, this is the site you want to list it on.
Sometimes there are great deals on LoopNet, but you’re competing with every other investor to find them. If you are a Grade-A investor working with a top broker, you’ve got a chance to win the bid, but this is not the site for rookies.
However, LoopNet is a great place to learn about the market in Tampa and see how the major money is moving. You’ll be surprised what you can learn, so start searching through the properties for sale and watching where they close.
Just like its name suggests, Auction.com is a big clearinghouse of auctions. This includes foreclosures, REOs, short sales, distressed properties, land, and new construction. Check out the auction calendar and visit some Tampa auctions. You never know who you might meet at an auction – maybe your future business partner?
The largest place to search the MLS (multiple listing service), Realtor.com, is sometimes confusing and often doesn’t seem consistent with what data it displays.
However, it does have some useful search alerts and other tools that alert you when a broker in your neighborhood has added a listing. If you’re serious about investing, you probably want to form a good relationship with an excellent Realtor, rather than just the website.
Most investors overlook Walkscore.com. Walkscore tells you a ton about any given address. It tells you how a potential renter or buyer will evaluate it, what’s nearby, and how long it takes to access.
It’s also a fantastic tool to target areas that are underpriced for their amenities. If an area has a really high walkscore and low prices, chances are good that prices will rise in the next few years. There are some exceptions, but walkability is a really key factor in Tampa investment.
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