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University Park - South Downtown : Real Estate Advice

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  • Local Info1
  • Home Buying3
  • Home Selling0
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Activity 7
Mon Feb 10, 2014
jeremy answered:
Hi Stephen: There are a lot of condos and apartments for rent in St. Petersburg. I would shy away from condo's that are a result of conversion from apartment to condo's recently. These tend to be more distressed than established older condo complexes and apartments. You may find good deals, but the quality of your neighbors may not be that great.

I actually am in the process of renovating a 2/1 condo in a smaller older complex in south saint pete marina district. It has a nice open floor plan, and will run around $800-$850. There is a pool and covered parking.
Let me know if you have any other questions. I have been in the rental market in Saint Pete for a while now, and am very familiar with the area.
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Tue Nov 19, 2013
Andy Wood answered:
My guess is that the home has structural damage or is in such bad shape that it cannot go with traditional financing. We specialize in a program called FHA 203K that allows buyers to finance the cost of the repairs (needed or cosmetic) into the cost of the loan with only 3.5% down. It virtually turns any buyer into a cash buyer. All the repairs are completed after closing and if the property is structurally unsound and unlivable, you can also finance 1-6 payments into the loan so you aren't making double living payments. If you are really interested in this property, you should pursue it and see what it would cost to fix. Most of these properties finish up with loads of equity because no one wants them and are usually sold at a low ball price. We can walk you through the entire process and you can end up with the home of your dreams! I always look at it like this, the house in worst shape, the more equity, and the more stuff I get that I get to pick out!

For more information on the 203K, you can visit my website, or feel free to reach out to me. I have 21 years of experience in the program and actually teach a 3-hour continuing education course in Florida about it. Your loan will close in 30-45 different than traditional financing.

Hope this was helpful!

Andy Wood
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Sat Nov 9, 2013
John Edwards answered:
Hi Donna. I assume you must be referring to perhaps complexes as compared to individual properties? Many property managers work with multiple properties and many complexes. However, there are some that work entirely within one complex if that complex..
We work with a property management company that has various buildings from 3 units to 100's and some of them are downtown St. Pete. Availability of units come and go so it is best if you contact them directly. My partner and I do some property management as well as sell real estate.
We will have a 2 bedroom 2 bath condo on the 6th floor in the Brightwaters Tower condominium on Snell Isle that will be available December 1st. It has a great water view of Tampa Bay. It is located about 5 minute drive from Downtown. They do not allow pets or smoking and the rent is $1,200 monthly.
Let us know if we can be of any help or guideance in your search.
John Edwards/Glennis Williams 727-459-6366 Dean and DeWitt Properties 695 Central Ave. St. Pete, Fl 33701
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Wed Jun 5, 2013
Barry Smith answered:
There is a crime link on that link above on the map. With so much available retail space, have you not considered already built retail space ? You should connect with a commercial broker and let them search for you a space and compare to a build out cost. Contact ......
Pat Marzulli
Director, Industrial Services | Central Florida
311 Park Place Suite 600
Clearwater, FL 33759
Office: 727 442 seven one eight seven
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Tue Jan 10, 2012
Shaun answered:

I personally own 70 units in the area at the moment and have bought and sold over 400 investment homes.
The CAP rates are great, often over 15%. We buy and sell tenant occupied properties all the time to local, out of state and international buyers. There are some areas that are better than others, but it all depends on your ultimate investment goals.

email me if you want more details.
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