Investor group interested in learning about fort Myers, FL

Investor group interested in learning about fort Myers, FL

Member since 2018 · 5 posts · 0 votes

Hi everyone!

Im new to the bigger pockets forum and this is my first post!

I am looking to diversify cash into real estate for the purpose of building long term equity (horizon 15 years) and generating dividends (rental income) that I can compound by reinvesting.

Compared to most that are successful in this forum, I am a newbie, but my partners are either commercial builders or have personally bought sold at least 5 homes in the last 5 years. We are looking at multi family units or single family BURR-eligible in Fort Meyers because I have a new client there and see a lot of growth in the working class, especially in the Latin community. We are all fluent in Spanish, and know that immigrants tend to work hard to repay debts, including rent. I am looking for any and all advise from people that know the area, especially:

- Any neighborhoods that I should focus on / avoid?

- Any local contractors that are highly recommended?

- Any class b / c neighborhoods that have up and coming schools?

- Any obvious risks to investing in the area (such as non-sustainable economic growth)?

- strategies on long term rentals vs. short term tourist rentals?

- anything else :)

Thanks in advance for any and all advice!

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  • Real Estate Broker · Cape Coral, FL · Member since 2014 · 382 posts · 300 votes
    8y

    Hi Rohit,

    Fort Myers is a good place to invest.  There is a lot of growth projected for the area in the coming years.  I live in Gateway and love it.  Vacation rentals are obviously more management intensive and thus more expensive if you're using a local management company.  Annual rentals are less so, and there's demand for them as well.

  • Member since 2018 · 5 posts · 0 votes
    8y

    Thanks for the feedback peter! Do you know people who are investing in the fort Myers area that can recommend class B neighborhoods? I am planning on visiting in the next few weeks to do a visit.

    Also, would you or someone you know be able to recommend:

    1. A good property management company in the area

    2. A good local credit union 

  • Flipper · Fort Myers, FL · Member since 2017 · 182 posts · 98 votes
    8y

    I am an local investor in fort Myers

  • Rental Property Investor · Cape Coral, FL · Member since 2012 · 427 posts · 186 votes
    8y

    @Rohit Garewal welcome to the area! This area has been great to me and would recommend it to you as well :)

    Let me know if there is something I can do to help!

  • Member since 2018 · 5 posts · 0 votes
    8y

    @Jordan, thanks for the offer! Looking for any recommendations for contractors and property managers in the area!

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