Newly Designed St. Pete Pier!

St. Pete residents are overjoyed with the newly designed St. Pete Pier featuring a marketplace for local vendors to sell and display their unique items, a billowing net sculpture by internationally renowned artist Janet Echelman, and a Discovery Center to give tourists and residents alike a chance to learn and interact with aquatic exhibits.

It’s an exciting new addition to downtown St. Pete that’s sure to elevate the city and attract new residents as well as St. Petersburg-Tampa-Clearwater area natives for lots of weekend fun in the sun!

To learn all about the new pier check out their website here.

Image from News Channel 8 

Top 5 Reasons to invest in Multi-family Residences in 2021

Real estate investment is a great option for passive income and it also diversifies your investment portfolio. With so many different options when it comes to real estate investments let’s take a moment to go over our top 5 reasons as to why multi-family housing might be the best choice for you!

  1. To start, more people are expected to be renting over purchasing a house or condo. This is due to rising home prices that are keeping potential buyers from taking the next step — and some investors say it could be good for the rental market.  Multi-family housing investor, Grant Cardone, told Yahoo Finance, “Homeownership is still dead in this country because the only people that are buying homes right now are people that have equity, great credit and a job.” In addition to this, rent prices slid this summer making apartments even more desirable and attainable for Americans.
  2. The coronavirus pandemic has caused the closure of many businesses and left millions unemployed. For those invested in single-family homes, there is the issue of their tenants being unable to pay rent as well as having vacant properties for months at a time. With multi family homes, there is limited risk as there are a multitude of tenants so even if one or two of the units are vacant, the other units provide a financial cushion.
  3. Our next reason has to do with choosing a reliable investment. According to Forbes, history shows that multifamily real estate holds strong through economic uncertainty. In the past two recessions, multifamily outperformed all other major forms of real estate. Rent recovery after the recession was also faster. With today’s current economic uncertainty, you want to invest in properties that can succeed in all economic climates.
  4. You can grow your investment portfolio much faster! Instead of needing to be approved for 50 different single family home mortgages, it’s much more time-efficient to be approved for one loan for a 50 unit apartment complex.
  5. Finally, you see a more consistent return with multi-family housing as the rent-to-price ratio is usually better in multi-family residences than with single family homes which provides you with a greater monthly cash flow. The more consistent income you have the easier it will be for you to reinvest and grow your portfolio as well as have some extra cash
There you have it! Our top 5 reasons as to invest in 2021. If you’re interested in hearing about more investment opportunities, make sure to check back frequently on our Articles page here.

Zillow expects Tampa to be a hot housing market in 2021

Seattle-based company Zillow recently mentioned Tampa alongside other cities such as Austin, Nashville and Phoenix to be one of the hottest markets in 2021.

As noted in the following article even Tampa’s Mayor, Jane Castor, said that Tampa is “a city on the rise and one of the most exciting places to call home”. She also highlighted the city as having a “unique combination of diverse and historic neighborhoods” and took a moment to mention the new world-class developments that are bringing more jobs and opportunities every day.

To hear more about what Mayor Jane Castor and Zillow had to say about Tampa’s housing market in 2021, head over to Bizjournals article here.

Tampa Ranked No.4 in the US for net inflow of residents in 2020

In this article by Bizjournals, we learned that Tampa-St. Petersburg-Clearwater area ranked No.4 in the U.S. in terms of biggest net inflow of new residents. Tampa Bay alone had an estimated increase of 47,000 people last year, which is more than any year in the last decade with the exception of 2016.

As also mentioned in the article; since the coronavirus pandemic, more and more people are realizing that by relocating outside of larger cities such as Los Angeles and New York, they’re able to cut their living expenses in half and be closer to friends and family back home.

With this influx of new residents we’re expecting a greater demand for more housing. Not just in terms of traditional residential real estate but also with multi-family residential sales as well.

To learn more, check out the full article here.