BUYER AGREES TO PURCHASE HOME IN TAMPA FOR $3,800,000 WITH NO CONTINGENCIES, WITHOUT EVEN SEEING IT IN PERSON, AND PAYS FOR IT IN FULL IN UNDER 72 HOURS.  

Matthew Barnes, the CEO of Go VIP Worldwide and the Principle at multiple investment companies, has left Fisher Island, the richest zip code in Florida and often the wealthiest in the United States, and has dived into what is expected to be a booming 2022 housing market in Tampa, Florida. Barnes agreed to pay $3,800,000 for a home on Bayshore Blvd. in Tampa without seeing it in person and closed on it on January 7, 2022. 

Fisher Island is only accessible by private ferry. Many celebrities and sports stars from the U.S. and around the world have been residents of Fisher Island, including Oprah Winfrey, Andre Agassi, Boris Becker, and Julia Roberts. Barnes decided it was time to sell his home on the island and said “goodbye” to Fisher Island’s rich and famous people. He turned around and shelled out $3,800,000 in what many are calling Tampa’s fastest ever multimillion dollar, sight-unseen home purchase. Barnes agreed to pay nearly five times more for his new home on Bayshore Blvd. in Tampa, Florida, compared to what he sold his home for on Fisher Island. Why? Barnes said three words: “Tampa will boom.”

When 4615 Bayshore Blvd. hit the market for $3,500,000, Barnes entered into a contract with the seller to buy the home for hundreds of thousands of dollars over the asking price. Barnes agreed to pay $3,800,000, waive all inspection and financing contingencies, and wire the entire sum to close the deal within 72 hours of signing the contract. The agreement between the seller and Barnes to purchase the home was duly executed between them within a few hours of the property being listed. Bayshore Title received a wire from Barnes for $3,800,000 for further credit to the seller in under 72 hours of the property being listed. 

Barnes, frequently quoted in Fox Business, The New York Post, NBC News, and other outlets regarding financial matters affecting Fisher Island, said, “We sold our place on Fisher Island, left, and shortly thereafter wired the funds to cover the full purchase price in under seventy two hours of 4615 Bayshore Blvd. in Tampa, Florida, being listed for sale on the MLS. I had to do that to get the deal. Big money expects Tampa residential real estate to boom like never before.” 

Kathy Ervin, who works at Premier Sotheby’s International Realty and represented the sellers in the sale, said to Barnes, “This was the fastest transaction I have ever completed. It went so fast it could be a record for me.” Barnes was represented by Jeremiah Bicknese of Smith and Associates, who confirmed that Tampa’s market is doing very well.

Barnes revealed, “A week or so before 4615 Bayshore Blvd. went on the market in Tampa, a house down the street on Bayshore Blvd. went on the market for about $4 million. I understood that it went into a large bidding war and that it went under contract in a matter of days, likely way over the asking price. People in my circles are talking about buying luxury homes for themselves on Bayshore Blvd. and smaller ones behind it as investments in Tampa.” 

Barnes also stated, “The rumor on the street was there were around seven buyers that made offers to buy that home in Tampa for $4 million with no financing needed. They were willing to pay over the asking price and provided proof of funds that they could make it happen immediately. Talk about a serious backlog of buyers wanting to buy homes in Tampa, Florida, that are likely very underpriced. That seller could have asked far more.”

Barnes continued, “Buying a home in Tampa and on a gem of a street like Bayshore Blvd., well, I can’t think of a better investment right now. I think the home is really worth about $9.5 million.” 

Why $9.5 million to buy it? “If the S&P 500 returns 10.5% a year on average and the most recent Zillow report predicts Tampa’s residential real-estate will return nearly 25% this year, then if you do the math, I think you will find out I’m right: $9.5 million is the true market price of 4615 Bayshore Blvd. in Tampa, Florida.” 

He relisted the home within hours of purchasing it on Friday. The listing offers the furnishings and art in the home for sale for an added cost. When Barnes was asked why he listed it for sale so quickly, he answered, “I am already talking to people about combining some lots on Bayshore Blvd., and I would like to build something for my family that is the size of the updated Stovall House that is now on Bayshore Blvd. in the near future. Barnes said, “Go big or go home!” 

Currently only one house sits between Barnes’ house he just purchased and the Stovall House. 

Barnes said, “It’s almost like a gold rush going on. We are seeing many corporations, private equity firms, banking firms, and wealth management firms moving to Florida. The politics of the Northeast, which many seem to dislike, has also put Tampa on the map more than ever. Ron DeSantis is a winner, the tax incentives are here, COVID numbers are climbing in the Northeast each year, and there are likely masses of people that will relocate from South Florida to Tampa. The list goes on.”

Barnes stated, “This home that was bought for $3.8 million is now homesteaded. The property is under 1/2 acres, it was not financed, and it is legally protected from almost all judgements due to Florida laws. So, if you are a stock trader or investor and you have a good attorney and accountant, you can understand why I believe I set the floor on Bayshore Blvd. with this purchase. While some are hoping prices will fall, based on my firsthand knowledge, that shouldn’t happen anytime soon.” 

He is very bullish on Tampa, Florida, and thinks most of its residential real estate is extremely undervalued. “Economists agree, and in fact, Zillow came out this week predicting that Tampa will be the best-performing housing market in the U.S. in 2022, with a nearly 25% increase in prices. If you have any way to buy in Tampa, at almost any price and get it in your name now, it should be a phenomenal investment no matter what the market does in the short term. My money is on it.”

When asked if Barnes thought more people would follow him and leave Fisher Island to buy luxury real estate in Tampa, Barnes replied, “I could have bought a bigger place on Fisher Island, but I decided a home in Tampa on Bayshore Blvd is the best place to be now. Humbly speaking, I probably could have bought just about any home I wanted anywhere in the world. I believe a lot of people from Fisher Island think like I do, and l expect they may try to buy a home in Tampa, Florida. I expect many will stay on Fisher Island, but some will try to buy another home for themselves on Bayshore Blvd. as they come up for sale. However, homes on Bayshore Blvd. have rarely been coming up for sale.”

At 25 years old, Barnes may be the youngest person to ever buy a home on Fisher Island. He said, “I think that’s true. People have noted that I was able to accomplish that by making some great decisions and being ahead of the curve. I’m really excited right now about the future of Bayshore Blvd. homes and Tampa in general. I think big money from Fisher Island has been quietly buying homes here in Tampa since late last year, but it should be coming faster than ever over the next few years.” The Related Group just announced a week ago that they are buying the last plot to develop on Fisher Island. The Related Group has already started investing on Bayshore Blvd, calling the area their “second headquarters.”

Barnes added, “I think these homes fronting Bayshore Blvd. will absolutely be worth over $100 million in some of our lifetimes. If you can afford it, I don’t see why you would live anywhere else. Be ready for some serious cash to pour into Tampa very quickly. Don’t be afraid to pay too much in Tampa for a home right now because the secret is only just getting out.”

Barnes was asked to give one piece of advice to potential buyers looking to purchase a home in Tampa. “Most people don’t think big enough, are not aggressive enough, are scared to hear the word no, and are afraid to fail. Don’t be those people. Often you don’t get a response at all from the sellers. If your offer is rejected, that means you just opened the door to a conversation, and now you need to figure out how to turn that no into a yes.”

In closing, Barnes said, “I sold my home on Fisher Island and bought one on Bayshore Blvd. that was five times more expensive because I saw five times more value there then I did on Fisher Island. Don’t be a member of the ‘shoulda, woulda, coulda’ club in the future. Instead, do your best to buy a home in Tampa as soon as possible, and I believe you will thank me later.”

Want to follow or talk to Matthew Barnes? Connect with him here on LinkedIn: https://www.linkedin.com/mwlite/in/matthew-barnes-govipworldwide