New Investor looking to start in Fort Myers Fl area

5 Replies

Hello, my name is Stephen Peterson, my wife Meg and I are researching and looking to mainly buy and hold multi families in the Fort Myers area. We are open to any areas around in the Lee, Collier counties.  My wife's parents have a place on Sanibel, so we know the area from coming down to visit. Obviously from that description we know very little of the area, and really looking to meet other investors, real estate agents and other professionals. We currently live in New York about 1 hour outside the city. I run and operate a plumbing and heating business, and my wife is in e business. Any connections would be greatly appreciated. Thank you. 

 

Stephen,

Welcome to Southwest Florida and Bigger Pockets. This is a valuable resource. There is an active REIA here

http://swflreia.com/

The Multi family opportunites are hard to come by.  Prices are very high compared to rents and cash flow therefore is pretty marginal if you are using leverage (300k for a duplex).  If you are a cash buyer it is a better market.  If you plan to owner occupy it can make sense here, but from a pure investment point of view you should compare possible duplex cash flows to other markets, before you invest too much time in this market.  Most of my market knowledge is based on the Cape Coral and Port Charlotte Markets.  You may find better numbers in Lehigh Acres.  Best of luck

Thank you all for responding to me. @Mike Terry I will check out the association, and thanks for your insight. @Ashley Simonelli, Thanks for the recommendation. @Stetson Miller I am going to connect and look forward to talking to you.