John’s Corner

Hey, it’s John.

It’s hot. Like real Tampa summer hot.

I haven’t played golf in over a month. Normally I hit Streamsong this time of year to take advantage of their summer rates, but I haven’t been out there once.

Football is in full swing.

They say we now have football every week until February.

Let’s go.

Cash Flow in 2025? Almost Nonexistent

Let’s not sugarcoat it.

Finding a property that actually cash flows with today’s interest rates is almost impossible.

When interest rates are equal to or higher than cap rates, the market freezes.

No spread. No incentive. No deals unless someone is in real pain.

That’s why I don’t waste time chasing on-market inventory or playing the maybe-game with sellers who aren’t serious.

You want real opportunity?

Start with the Tax Delinquent List

This is still the best place to find motivated sellers.

Go to your county’s property appraiser or tax collector site.

Filter for:

• Tax delinquent properties

• Out-of-state owners

• Multiple years of missed payments

That’s where the motivation lives.

I’ve gotten some of my best deals from this combo.

Owners who don’t live here. Don’t care anymore. Don’t want to deal with it.

Forget the fancy CRMs and scraping tools for now.

This is public info. It’s free. And it’s gold.

Tampa Bay: A Tale of Two Markets

Depends on your lens.

Some people will tell you inventory is sky high and no one’s moving here anymore.

Others will tell you Tampa Bay is still one of the best places in the country to live, work, and raise a family.

They’re both right.

From the investor lens, deals are everywhere.

You just have to look past the surface and into the situations.

I Need Your Help

What’s your favorite real estate investing podcast?

Hit reply and let me know. I’m looking to level up my listening list and want to hear what you’ve been learning from.

Bravo Spotlight

One of our partners is a private equity backed home services company. They started with one hire. A data entry assistant.

Then they needed someone for accounts payable.

Then a full-time bookkeeper.

Now, every time they have back office turnover, they’re reaching out to REI Staffing to help them fill the gap quickly and affordably.

That’s what happens when the system works.

Reliable support. No drama. Keep the business moving.

Want help building your offshore team? Let’s talk.

Local Plug

Sunday brunch at Olivia is a must.

The pancakes taste like giant muffin tops. The croissants are next level.

And somehow I can take my whole family there cheaper than I can go to IHOP.

Highly recommend.

Got a Real Estate Question?

Reply to this email and I’ll answer one in next week’s journal.

See you next Tuesday,

— John

Tampa Real Estate Guy — Helping you crush your real estate investing goals