Looking for a Mentor!

[Jasmine Hicks]

Hello! I am new to the BP community and Im looking to connect with any seasoned Investors in the Cape Coral/Fort Myers area! My family and I currently house hack in a duplex and own a single family home in Miami. I feel little stuck at the moment because we used our cash reserves for renovations on our Miami property. Not really sure if we should use equity in our current house for a buy and hold strategy with the market right now. Im interested in investing outside our market but not really sure how to manage that with full time job, kids and a husband who has doubts. So definitely open to any advice! 

[Jason Wray]

Jasmine,

Cape Coral is a great location and you can still find a good deal on both SFR's and 2-4 Units. If you have equity in the Miami home I would suggest pulling out some cash and buying more doors. Good news is rates are showing signs of topping out which is good news for next year. You can pull cash out now and then refinance the Miami home when rates drop.

I would not wait for the rates to drop though because property values will continue to rise in Florida. Cape Coral is growing in popularity and in a few years you will be happy you purchased. I do a lot of business in Cape Coral and Venice and this year has been a very busy year for investment property purchases. I plan on looking at some land lots down in Cape Coral soon to grab some before they are all gone or overpriced.