All Forum Posts by: Jerry R.

Cape Coral has extremely fierce competition. Rich Weese can confirm this too.

That being said, I really like Cape Coral. The homes are mostly newer and homes sell very quickly of not over priced.

There's a few issues you need to be aware of there such as sewer and water assessments and flood zones.

Mortgage broker. I will PM you one in the area.

Welcome to the board Rocco,

I spent the last few years in Naples, now I moved about an hour north of there.

Naples has several low priced areas with opportunity, Golden Gate, Golden Gate Estates, Naples Manor and East Naples are a few.

SW Florida has many, many investors so competition is huge. If you can negotiate your own deals, such as through direct mail you will have an advantage.

I can confirm what John has said.

The market has been crazy for some time now and it's not slowing down one bit. However there are a few things to learn. Assessments are one and the recent change in flood insurance is another.

I used to work with a few fix and flip investors and I am one myself. The deals are usually too thin for most people to do this here - at least consistently. For landlord investors however the cash flows nice.

Most homes around here are built of concrete.

For example, you can get a fantastic house in Cape Coral for under 300K, in Naples that will get you a small to average home, depending on area for a non-gated (non-HOA) home.

Insurance will vary depending on location and company used. I have seen wide price variations depending on the provider.

Hi Jon,

I am a Realtor and rehabber in the Naples to Cape Coral area. The west coast as you have described is a large area. I would think most these coastal areas are pretty good, at least I know that in the SW section things are very good as far as rentals go.

The problem you may have is that the prices are rising fast and you may not find properties at what is discussed on BP as a good price or rule of thumb for rentals.

Areas in SW Florida which are good include Naples, some sections of Fort Myers, Cape Coral, Punta Gorda and Port Charlotte. Watch out for certain areas in Fort Myers.

Areas I am not familiar with but suspect would still be good are Sarasota, North Port, Bradengton, Englewood

Issues? Non really. Wood frame homes tend to take longer to sell and at a much lower price than concrete homes. Also insurance will be higher in these areas and a wind mitigation inspection is required to get an insurance discount. I see termite homes once in a while but not often.

Hi Erik,

I am going through the same thing. I am interested in knowing which selections you used when applying for the EIN as none of the selections seems quite right

Just a followup on this topic from last year.

What I do is add verbiage to my contract that the the contractor needs to sign up front so they are aware they will have to give me a release before receiving final payment.

I explain everything up front how the funds will be distributed and have not had any problems since.

Thanks Steven

Hi all,

Wondering if anyone has been through this yet.

With a property owned by your SDIRA who is responsible for getting the W9 and sending the 1099? You who is the beneficiary, or the SDIRA company who is the owner?

How about if there is a partnership with the SDIRA. For example you own 50% and the SDIRA owns 50% ?