All Forum Posts by: Lee Nugent

Hey Michael, have you tried some range extenders? something like placing the modem to the back of the home and then an extender in the ADU? We have done that before with one of our properties and it worked well enough that we didn't have any complaints from guests.

The only inconvenience is the occasional time a modem would need a power cycle, which wasn't often enough to warrant any changes. 

Also, send a DM if you're interested in networking with other local investors in Naples, we have a meetup monthly at Innovation hotel.

All the best! 

@Beethoven Penalo we have a portfolio in the Shreveport area and are happy with the performance. Depending on your focus, yes the market is affordable and cash flow focused. We don't expect appreciation on our investments, however any appreciation that we gain is a bonus; we underwrite as if we are selling for the same we paid. My suggestion is to really dial in what your focus is. All the best! 

@Lindsay Fitzgerald I'd make sure to dive into the documents on the HOA; we have properties in an HOA; 4 of them are in one, which the HOA has been miserable to deal with on the STR side of things, on the LTR strategy it has been fine. Long story short, they didn't have anything in their documents against STR, yet told us we couldn't and when we pressed, they passed new rules against it.

We have a house in Naples in an HOA that was our personal home and we just turned it into another rental when we bought another home. For LTR, haven't had an issue. Even if the owners of the current property were using the home for STR, if the HOA docs don't allow it, you may be forced to pivot if STR is your focus on that investment.

If you are free this evening, there's a Real Estate group meetup at innovation hotel, and you may find more local people that have input as well. Feel free to send a DM and I'll get you the details. 

Nate, you may want to consider the average person that would be purchasing the property under the lease option. 5k, maybe 10k during tax season is feasible, however consider how many people are living paycheck to paycheck; much less the amount of people that would have 15k saved up, and even then have that amount saved up for a down payment that wouldn't be able to qualify for a mortgage outright. 

In some larger metros with higher median home prices and sales prices, that is likely completely feasible; in Shreveport, I'd look at your median income, average home sales price for the 3/1 and consider adjusting the down payment. All the best on the transaction!

Hellen, do you mean you want your Realtor to market in other states for your listing in SWFL? There's a standard syndication that goes out to sites like Zillow, Redfin etc that is included when it is listed in the MLS; hence why people can find properties from across the country.

If you are meaning you'd like your Realtor to spend marketing dollars targeting buyers in other areas, you'd need to discuss that with your Realtor. Depending on the price point, they may already be running targeted ads in cities/metros for buyers that may be looking for a second home/vacation home. I've done that for listings in higher price points. It comes down to the most effective use of a marketing budget. If your Realtor is anything like me, they want to spend any marketing funds where the most eyes will be. 

Hey @Blake Winiecki I'm down in Naples area and there are some meetups I can connect you to. Visit with people there and you'll get a more detailed look at things from people actively working in the areas. We have people from Marco all the way up to Sarasota, and others that come from the East coast that join the meetings

@Raymond Charles Gretz I’m down in Naples and happy to introduce you to a few local meetups

@Anthony Murphy I didn’t see this before and I apologize, however that statement back then was grossly inaccurate 😂

 Hey David, I have some local lenders in Shreveport that play around the 50k mark. I'm also a private lender; send a message and I'll get you connected with a few of the bankers I work with in Shreveport

I have some free resources that will help you get comfortable in securing flips, and if you show enough work ethic, I have leads I'll share with you to follow up on and work with here in SWFL