key west
it's official. I will be moving to key west in 9 months, but know no one there so I am hoping bp can ramp by learning curve. Looking for recommendations on everything: loan officers, agents, closing attorney, and even simple things like local real estate sites, neighborhood advice and input. Does the island have small apartments or 2 to 4 units? Everything looks small, open to all information, let me hear you key west nation.
I have accepted there are no active investors on bp from Key West, so just looking to link up w/ anyone familiar w/ the area.
I was just there earlier this year. Prices are high, rents are high but not sure rents are high enough. Very desirable area, fantastic weather and great environment. Many local workers live on the islands north where prices are cheaper.
Thanks @David Krulac
I see a lot of the same. I am going to leave there regardless, so the high prices are likely something I will need to endure. I thought of 2 islands to the north since the prices are drastically lower, but I really hate a long commute. I plan to get down there this summer to check it out.
You don't have to go fall Stock Is. is nice and right next door. An attorney here in Pa. had a house in Big Pine on the water. When we were there last this year we drove from Miami we drove down Rt 1 and got to see all the Keys, it was a great trip.
Yeah big pine is what I was considering, but I hate driving.
Originally posted by @Pete T.:
Thanks @David Krulac
I see a lot of the same. I am going to leave there regardless, so the high prices are likely something I will need to endure. I thought of 2 islands to the north since the prices are drastically lower, but I really hate a long commute. I plan to get down there this summer to check it out.
Long commute? It takes minutes to cross from one island to the other. You can live 15 miles north of Key West and still have a 20 minute commute, if that.
It may sound crazy, but riding my bicycle to work would be a big plus for me. Again, I haven't been there but get the stories of one road and 35mph.
Hey Pete. Give me a shout if you want to chat RE. I live in Key West
Copy- I passed you my info. I have been here since end of March. Not planning on buying in Key West at this point, but I am always looking.
My Dad passed away and left me a 6 unit apartment building which I sold and purchased 51 units here in where I live in Central Maine. I hope that gives you an insight into prices. That being said, they've come down quite a bit, then gone back up a bit. But as far as areas go, I believe best "resale" would be in areas called "high and dry" meaning they are a few feet above sea level. My Dad's apartment house survived the big hurricane way back because it was in one of those areas. I believe "southern most" area is very low sea level so much more flooding. I like the White St. area. A little rough beyond "Whitehead St." (Bahama Village). There is a moratorium against transient rentals now I believe unless your building is grandfathered, so there will most likely be a premium on "VRBO'able" buildings. You COULD check out Stock Island which is just a bit north. Many people who live in KW rent in Stock Island because it's more affordable. Lots of rambling ... hope you can put my thoughts into something useful.
Have lived in the lower Keys since 2004. Am an independent contractor and have been interested in investment property. l want to work for people who are investors so I can learn more about the process. I'm a retired Navy Chief Petty Officer with a degree in engineering from Massachusetts Maritime Academy. The lower Keys is a relatively small community and I know a great deal people including real estate, contractors, and business owners. I also know the building department and how they operate. I'm not a licensed contractor but personally can handle most construction issues, including general construction, plumbing and minor electrical. What I don't know how to do, I know someone who can and can beat most bids. Let me know if I can do anything for your ventures.
Mark Peterson
P.S. I know a lot about local history and potential buying opportunities.
Hi @Mark Peterson & @Rob Bond
Let's connect, my wife and I are just starting our Key West search and I would love to get your thoughts.
Kyle are you looking to live or invest?
Am working with a developer out of Indiana who has several properties in Summerland and Cudjoe Key. In my opinion these are the best communities to live in the lower Keys. Central to Key West and Marathon. Mix between snow birds and year rounders. Close to elementary and middle school and 15 minutes from primary shopping areas. Mostly ocean side properties. If your looking for more affordable Big Pine is about the cheapest but you have a lot of problems with building and permits due to the Key Deer Habitat issues. Big Pine is predominately lower to middle class housing with a few exceptions. I just cleared a lot for new construction in Cudjoe, on the ocean side which is for sale if you are interested. I can connect you with the seller's agent.