Rental4Income

  • Home
  • Investor Profile
    • Pre-Approval Form
  • Articles
    • Cash Flow
    • Finance
    • Investment Tips
    • Real Estate Investing
      • Tampa, FL
    • Real Estate Mentor
    • Rental Property
    • Tampa Real Estate News
    • Turnkey Investment Properties
    • Wholesale Real Estate
  • Videos
  • Glossary
  • Properties
  • Testimonials
  • About
    • Investing in Rental Property
  • Contact

June 8, 2013 By Admin

Get a Better ROI on Your Tampa Investment Property

Tampa Bay Rental Property for Income“Make your money on the buy, not the sell.” ~ Robert Kiyosaki

Welcome to Tampa Bay, where investors and families alike have countless homes and neighborhoods to choose from, and many have attractive price tags at this time. But, any seasoned investor knows the most ROI potential doesn’t necessarily reside within the home that has the lowest price tag.

Thinking about investing in Tampa and transforming your property into a steady stream of rental income? We recommend addressing the following areas before you take action and purchase a Tampa investment property.

  1. Analyze the neighborhood to determine which type of tenant you will attract. Is the home near a University? If so, be aware of vacancy…tenants may not be looking for long term/annual leases. What are the vacancy rates within this particular neighborhood?
  2. How much is the average monthly rent for a home this size in this neighborhood? While you may think you have an attractive and expensive rental on your hands, the market may state otherwise.
  3. How many upgrades will this home require before it’s livable? How much does each cost, and how long will the renovations take? For every month your house sits unoccupied, you’ll be losing money.
  4. Property taxes are not standard by any means and as an investor planning to make money from rent, you’ll want to be aware of how much you will be losing each year to taxes.
  5. You can go to the police, Internet, or public library for accurate crime statistics for various neighborhoods… what’s your neighborhood like? No one, especially families, wants to rent in an unsafe area.

If you’ve made it through the first 5 steps and decided to purchase the property, now consider the following for the best ROI possible!

  1. First, find out what the most useful improvement would be for this home, to increase its rental value. We’re in Florida, does the home have air conditioning? Not only will this upgrade make your home more attractive to renters, raise the rental value and pay for itself in no time, but this improvement should also boost the overall value of your property.
  2. Arrange to have your property inspected frequently – this will avoid major damage from occurring or unexpected expenses from arising.
  3. Secure a long term tenant. Securing a long term tenant is less work for you, and will decrease your chances of facing vacancies.
  4. Not around to check in on your property often enough? Place your investment property in the hands of managers who specialize in investment properties.
  5. Conduct a price review every 6 to 12 months with your property manager/advisor so that you are prepared to increase (or decrease) rent for the next tenant.

The recurring theme here is research. Know what you’re getting into, and know about existing property situations to ensure the best return on investment for your Tampa property. For more investment property advice, contact us at your earliest convenience.

Other Articles by Graystone Investment Group:

    Tweet
    PinIt

    Filed Under: Articles, Cash Flow, Investment Tips, Real Estate Mentor

    headshot of Jorge VazquezLearn More About Real Estate Investing

    The Graystone Newsletter will keep you informed with important information relating to real estate investing. The newsletter includes information we share with our clients about the best places to invest in real estate, the latest trends, and the information you need to know to succeed investing in real estate.

    Real estate investors, wholesalers, flippers, real estate agents, and everyone connected to the real estate industry will benefit from the wealth of information we share very month.

    For more information about how we process your data, please click here to read our Privacy Policy.

    Disclaimer:
    RENTAL4INCOME.COM IS A WEBSITE OF GRAYSTONE INVESTMENT GROUP LLC. YOU ARE HEREBY NOTIFIED THAT NEITHER GRAYSTONE INVESTMENT GROUP LLC, NOR ANY OF ITS EMPLOYEES OR SUBSIDIARIES, REPRESENT YOU IN ANY CAPACITY. YOU SHOULD NOT ASSUME THAT GRAYSTONE INVESTMENT GROUP LLC OR ANY OF ITS EMPLOYEES OR SUBSIDIARIES IS A REAL ESTATE BROKERAGE. WE ARE A WHOLESALER, AND ALWAYS ACT AS A SELLER OR ASSIGNOR ON EVERY TRANSACTION.

    Want To Learn More About Real Estate Investing?

    Sign up for our newsletter, and you'll receive our newest articles!

    By clicking this button, you consent to receive emails, calls, and text messages about our products and services at the email address and phone number you provided. You agree that such calls may be made using an automatic telephone dialing system, they may be considered telemarketing or advertising under applicable law, and that you are not required to provide your consent to these calls to make a purchase from us. For more information about how we process your data, please click here to read our Privacy Policy.

    Recent Articles

    • How to Get Started in Real Estate Investing
    • What to Expect at Closing
    • How Much House Can I Afford?
    • How Do Interest Rates Affect the Housing Market?
    • What Does a Realtor Do for the Homebuyer?

    Get Started Right Now!

    Get started investing in real estate with Graystone Investment Group.

    For more information about how we process your data, please click here to read our Privacy Policy.

    phone Graystone Investment GroupCall (813) 449-4323
    Text Graystone Investment GroupSend Text to (813) 600-1658
    Graystone Investment Group
    3001 N Rocky Point Dr E, Suite 200
    Tampa, FL 33607 USA
    phone Graystone Investment GroupCall (813) 449-4323
    Subsidiary Brands:
    Graystone Acquisitions
    Graystone Real Estate
    Homes4Income.com
    Rental4Income.com
    RealEstate4Investing.com
    Accessibility
    Terms of Service
    Privacy Policy

    Recents Posts

    • How to Get Started in Real Estate Investing
    • What to Expect at Closing
    • How Much House Can I Afford?
    • How Do Interest Rates Affect the Housing Market?
    • What Does a Realtor Do for the Homebuyer?
    • What Does a Realtor Do for the Home Seller?

    Categories

    • Articles
    • Cash Flow
    • Finance
    • Investment Tips
    • Market Reports
    • Real Estate Investing
    • Real Estate Market Stats
    • Real Estate Mentor
    • Recent Properties
    • Rental Property
    • Special Events
    • Tampa Real Estate News
    • Tampa, FL
    • Testimonials
    • Turnkey Investment Properties
    • Uncategorized
    • Wholesale Real Estate
    Client Evaluation | Investor Profile | Rewards Program | Recent Properties | Pre-Approval Form
    Legal Notice | Terms of Service | Privacy Policy
    © 2023 GRAYSTONE INVESTMENT GROUP, ALL RIGHTS RESERVED. THE RENTAL4Income LOGO AND BRAND IS THE PROPERTY OF GRAYSTONE INVESTMENT GROUP LLC
    DISCLAIMER: RENTAL4INCOME.COM IS A WEBSITE OF GRAYSTONE INVESTMENT GROUP LLC. YOU ARE HEREBY NOTIFIED THAT NEITHER GRAYSTONE INVESTMENT GROUP LLC, NOR ANY OF ITS EMPLOYEES OR SUBSIDIARIES, REPRESENT YOU IN ANY CAPACITY. YOU SHOULD NOT ASSUME THAT GRAYSTONE INVESTMENT GROUP LLC OR ANY OF ITS EMPLOYEES OR SUBSIDIARIES IS A REAL ESTATE BROKERAGE. WE ARE A WHOLESALER, AND ALWAYS ACT AS A SELLER OR ASSIGNOR ON EVERY TRANSACTION.
    Internet Marketing by Image Building Media.