New Investor in Southwest Florida
Hello!
Does anyone in Southwest Florida or nearby have any tips or ideas for getting started in real estate in the area? What types of investments are working right now or look promising in the next few years? I know in general the market is tough here at the moment. Wondering what avenue is best to put more thought into between flips, brrrr, long-mid term, short term, multi-family, new construction, etc. Any comments are appreciated, thank you!
Most Popular Reply
Blake,
Your in a great spot in Cape Coral its growing fast and soon the Seven Islands will be done and offer a ton of more value and attractions for tourists/renters. My advice is look for a good 2-4 unit investment property that my be a little outdated or need some TLC/renovations. Buy and renovate the property and in 6 months do a simple cash out refinance and pull out some cash and start the REI process all over again.
I am North of you up in Pinellas County West of Tampa and there are also some great places up here that might save you some cash. Places like Largo, Clearwater, Spring Hill, and even north of that up in Crystal River. All of these spots are awesome locations to buy and set up as an STR (short term rental) use VRBO/AirBNB to triple your monthly NOI.
If you need ay advice or want to talk REI or which locations are best feel free to reach out! Send me an email or a message here and I can offer some tips I use to maximize profits in FL.