In an article by Nicole Martinez in UrbanLand

Florida garners plenty of international attention for its southernmost cities, but institutional investors and real estate developers are increasingly looking farther north for new investment opportunities. Tampa and its surrounding cities—communities like Sarasota, Bradenton, and Clearwater—are quietly attracting millennials and young families. With lower land prices and a relatively underdeveloped real estate market, the Tampa Bay area is betting on a boom as many young professionals get priced out of markets like Miami, Fort Lauderdale, and West Palm Beach.

Three of the Tampa Bay area’s largest landowners and property developers gathered at the recent ULI Florida Summit to discuss Tampa Bay’s changing landscape and the unique approach required for developing large master-planned communities in Florida. J.D. Porter, the chief executive officer (CEO) of family-owned Wiregrass Ranch, notes that real estate development in Tampa is evolving at an unprecedentedly fast rate. “If you had asked me five years ago whether 5,000 acres [2,000 ha] would be enough land, I would have said yes,” he says. “But now you’re seeing a definitional change, with Tampa becoming one of America’s best cities.”

Florida, after all, remains relatively unfazed by the marked slowdown in key development industries across the United States. A plateau in U.S. retail sales and tourism and hospitality spending has not yet affected the Sunshine State, which each year breaks record tourism figures and continues to report healthy retail sales and continued retail development. In Tampa, developers are building mixed-use developments, focusing on providing a mix of residential, office, retail, and lifestyle elements to attract both retired buyers and a younger market.

The real estate market in Tampa has expanded substantially in the last few years. Especially in the multi-plex field.  Apartment complexes are selling quickly and people are missing out on the opportunities and why? Getting quick hard money quickly can be a problem.  The situations where you need it can be many. For example maybe you need to close fast on a new purchase. Conventional lenders can take as long as six months before they are ready to disburse, demand long terms and will charge heavy penalties if you repay early.

This is where a private lender can be of assistance. A private hard money lender is generally quicker with conditions that are less onerous than conventional banks or using a Fanny Mae/Freddy Mac backed mortgage. What a private lender can do is lend you the money you need to acquire the property, and allow you to repay the loan in a shorter period of time without heavy penalties.

Yes their rates are higher, but the term is much shorter. The needs are sometimes different and Bankers are just too ridged to adapt to those needs. TempBridge can help fill that need. We are a hard money lender with experience in the Tampa market. Being property owners in the area the principles of Tempbridge are well aware of the difficulties you face and we are here to help. Speed, efficiency and experience are what TempBridge offers to you, along with the flexibility not offered by conventional lenders.