With hard money lenders, you don’t only have the option to fix and flip a property, but also you can refinance an existing hard money loan. Some cases when you may need to refinance are when you have another investment opportunity, or you need more money to finish your property rehab and even when your existing hard money loan has reached its due date.
Some key facts to consider about Tampa when investing in real estate are:
With a large population of 399,700 residents, Tampa is located in Hillsborough County where the median home value is $233,642 and the average market rent per month is $1,458.
In terms of education, there are 87.9% of local residents who have a high school diploma or higher and 38.6% who have a bachelor’s degree or higher.
The most recent job growth was 2.25% and residents have a per capita income of $36,169.
The housing programs the city offers include:
- Mortgage Assistance Program
- Homeownership and Financial Education Services
- Owner-Occupied Rehab
Tampa is known for a large number of parks and beautiful places both tourists and residents love visiting, some of them are:
- Curtis Hixon Waterfront Park
- Perry Harvey Park
- Tampa Bay History Center
- Tampa Museum of Art
- Ballast Point Park
- David A. Straz, Jr. Center for the Performing Arts
- Al Lopez Park
- Tampa Theatre
There are some incentive programs as well for local businesses that include:
- Business Facade Grant Improvement Program
This program is available in the Drew Park, East Tampa & Ybor City CRAs and provides grants to improve the appearance of commercial properties.
- Channel District Neighborhood Amenity Incentive Program
This program was created to provide a reimbursement of up to $10,000 of construction fees paid to the City and to attract service providers to the Channel District.
- Economic Development Ad Valorem Tax Exemption Program
The program provides economic incentives and tax exemptions to those businesses looking to relocate or expand within the City and create jobs.
There’s also the Tampa Foreign Trade Zone which offers the ability to reduce, defer or eliminate customs duties on qualifying products.
Private money loans in Tampa, Florida can be offered from different amounts and tailored to your property investment needs. Some reliable hard money lenders here are listed below.