When it comes to Tampa real estate investment there are several avenues that you can take.
- Wholesaling
- Flipping
- Long-term Income Properties
Wholesaling can be lucrative. You are essentially the middle man and can turn a quick profit. However, “because most wholesaling deals are completed and sold within a 12 month period of time the investor will pay the highest income tax rate in this country. When you pay high taxes that money is gone forever and unavailable to benefit your family and you can’t use that money to live on or to re-invest.” (Larry Harbolt)
When flipping an investment property you essentially buy a property as cheap as possible and in turn make all necessary repairs and alterations to sell the property for the highest price. The main issues with this type of investment is that you will need a high amount of capital to make this work. If you are unable to fund the purchase and rehab of the property then this strategy is unfortunately out of reach for you.
Long-term income properties are a great way to increase your wealth in the long run. Once a property has been purchased and rented out your tenants will essentially be paying off the mortgage for you and once the home is completely paid for you are receiving a steady stream of income every month. Don’t want to be the landlord? No problem! Simply hire Real Property Management Instant Equity to lease and maintain your income property and you will have a hands-off investment that sends you a check every month.
Real Property Management Instant Equity is a full service management company that handles everything from finding a qualified tenant to evictions and everything in between. If you would like to find out more about our services please give us a call at (813) 445-8280