BRRRR in Tampa, Florida

Local Snapshot — Tampa, Florida

Tampa combines strong fundamentals with balanced market conditions, supported by finance, healthcare, and technology sectors. The metro offers competitive acquisition costs with steady rental demand from young professionals and retirees. Port activities and corporate headquarters provide economic diversity and stability.

Last updated: 2024-09-24

Sources: Tax• Vacancy• DOM

Local BRRRR Notes

• Inventory & comps: Verify comparable sales supporting your ARV; track days on market and supply trends.
• Rent checks: Confirm realistic rent using multiple sources; underwrite concessions and lease‑up time.
• Permit timelines: Speak with local building departments for scope‑specific requirements.
• Contractor bench: Line up multiple bids and references; enforce clear milestone payments.
• Exit & DSCR: Size loan proceeds under conservative DSCR and rate scenarios.

Talk to a financing specialist to structure your deal.

Financing Benchmarks

• Target DSCR ≥ 1.30–1.40x due to hurricane risk and seasonal rental variations.
• Purchase LTV typically 70–80% given natural disaster exposure and market volatility.
• Refi LTV commonly 65–75% with lenders requiring hurricane insurance and updated appraisals.
• Seasoning requirements 6–12 months; coastal properties may require extended seasoning periods.
• Carry 15–20% rehab contingency due to hurricane code compliance and skilled labor shortages.
• Maintain 10–15 months reserves for seasonal variations and potential evacuation periods.
• Insurance costs significant factor; wind/hurricane coverage can represent 2-4% of property value annually.