Located on the west coast of Florida, Tampa is a Gulf Coast city and is the 19th largest urban metropolitan area within the United States. The Greater Tampa Bay region has a population of over 4 million and it is a $130 billion economy that ranked among the 20 fastest-growing metro areas in 2013.
Tampa is has a bustling business sector and offers a wealth of employment to its residents and commuters. Many corporations and Fortune 1000 companies such as financial services companies, healthcare, research, education facilities, avionics, information technology and telecommunications companies maintain national and global headquarters in Tampa. This area is now the biggest job generator among Florida metros, adding more than 34,000 jobs between March 2014 and March 2015. There are a large volume of military contractors and naval bases concentrated in the area and Tampa is home to United States Central Command. Tampa also has a huge port, which is the 7th largest in the nation.
Situated along Florida’s Gulf Coast, the Tampa Bay region boasts an enviable quality of life with year round sunshine, a unique cultural heritage and a diverse business climate. It has a highly developed infrastructure with a network of road, air, water and rail transportation. It also boasts a multilingual, highly trained workforce supported by outstanding educational institutions, including the main campus of the University of South Florida with 50,000 students.
With a low cost of living, no state income tax and affordable housing and health care, there’s no shortage of people who want to live and work here.
Local Real Estate Market
The huge Tampa Bay rental market is driven by a number of factors that include climate, quality of life, employment, education and location. Our research has established that certain key neighborhoods in Northern Tampa Bay have great demographics with a strong local market of both young families working in Tampa and retired north easterners on fixed pensions. People living and renting in these neighborhoods love the low cost of living and high quality of life offered by these spacious single-family homes.
Torcana specialises in identifying concrete block, single-family homes in middle class areas of northern Tampa that were built between 1950–1980. We purchase a wide range of distressed single family homes and transform them into newly renovated and rent ready homes with price ranges from $85,000 – $140,000.
Hundreds of clients have utilised our deep industry knowledge and local teams to invest in turnkey real estate with strong cashflows and real “on the ground” support.
We are seizing a very time sensitive opportunity to buy single-family homes at significantly below-market rates. The target properties will be purchased from a host of different sources, including wholesalers, auctions, foreclosures and individual distressed sellers.