All Forum Posts by: Patrick Bavaro

@Thomas Weiss I third the ft Myers Cape Coral area and market. Great opportunity to invest. Right now im doing a new build SFH in Cape Coral and the numbers are pretty dang solid. I'm also expecting $75k-$100k of instant equity once it's built based on post construction appraisals for this model. There are def opportunities for multi fam out there as well. Good luck!

@Stephen Scire would highly encourage south west Florida, specifically Cape Coral! I’m currently in a 4/3 new build with a the key provider I met on BP. Total all in cost was around $265k and rents are estimated at $2300/mo. Post constructions Appraisals for this model are around $377k. Zillow estimates another 27% increase next year to Cape Coral prices, and the population grows 7% YoY. By 2050 it’s estimated to have over 400,000 people living there. Another great market I’m in is Ocala FL. Good luck and reach out if you’d like!

@Sheeva R. The pad handle has become one of those highly competitive STR markets. The deals are there, you just have to find them. I would recommend looking at the southwest coast of FL. Right now I'm building a 4/3 new build in Cape Coral. Total all in cost was $265k, and STR projections are about $4500/mo. I financed it with a 2nd home construction to perm loan with only 10% down. While it's not a cash cow, It is still good numbers to work with and I'll take deals like that all day. LTR estimates are $2300/mo and post construction appraisals for this model are coming back at $377k. $100k of instant equity makes me happy. Feel free to reach out! Good luck!

@Alexandra Scardo think of It this way. Should the bank ever need to foreclose on the property, they can’t sell the building without the land or the land without the building. So the value and equity of the land you have counts towards the total value of the deal. I just did this with a 4/3 new build out in Cape Coral and a construction to perm loan through the bank. Bought the land for $26k. Construction cost was $240k and the bank only required 10% down. Since the lot was slightly more than 10%, I did not have to come out of pocket further. Now I get to sit back, relax and collect $2300/mo in rent plus about $100k instant equity because of how the market is over there. Post construction appraisals for this model are coming back at $377k. Good luck! Hope this helped.

@Robert Willard hey Robert! I too was looking into Nashville recently. A hot market for sure, but deals can be found! I'm actually in the process of building a 4/3 new build out in Cape Coral FL that I'm planning to turn into an STR. Total all in cost was about $265k, and based on my estimates I can either do $4500/mo STR or $2300/mon LTR. Southwest Florida is exploding with growth, price points are relatively low, and people will always want to visit and vacation there. Good luck! Feel free to reach out about FL markets if it's an interest

@Brad Newton early congratulations to your move to FL! It’s a great state to live as well as invest. I own a few rentals here Hollywood as well as Ocala. I am also building a 4/3 new build out in Cape Coral through a turnkey company. Total all in was $265k, rents are estimated at $2300/mo, and post construction appraisals are $377k for this model. All this to say, I think SWFL is a great region to buy and hold. Feel free to reach out. Good luck!

@David Lynch it's possible. You just need to find the right lender. Sounds like a vacation home/ STR condo? I just closed on a new build 4/3 construction that required only 10% down through a turnkey company here on BP. Total all in cost was $265k and rents are estimated at about $2300/mo and post construction appraisals for this model are around $377k! Can def find them. Feel free to reach out. Good luck!

@Trevor Fleck Great information! I would also highly encourage anyone looking to purchase a lot in Cape Coral to utilize the link below to search for property restrictions, such as owls, that have already been identified on any interest lots you are considering. This was an extremely helpful tool when selecting my lot with RTR as well for my new build.

https://capegis.maps.arcgis.co...

@Drew Ramasco Negative. My $2,400 comment was in reference to Cape Coral with a new build I am completing. My current property in Ocala (bought through the MLS) is currently renting $1,800, but it is currently under market value. I will have to wait until the end of the lease to raise it. My plan is $1,950 based on comps on rentometer today. Hope this helps!

@Mickael Castillo Ocala is a great area! Tons of people moving there, price points are great and properties rent fast and are comparable to home prices. Happy to connect!