All Forum Posts by: Jordan Williamson

Sorry to hear about the pool Wendel! I never would have even thought about that. 

Im doing an 80% LTV through PENFED...

I'm in the Cape as well. I'm sending you a message.

I have two duplexes in Cape Coral and live in one of the units (as you are suggesting) ; however, looking at the Cape market, very few even come close to cash flowing. The multifamily market is overheated right now in my opinion. Make sure to run your numbers. There's no sense in buying properties that don't make money. 

Personally I don't invest in that area. Obviously that leaves opportunity for others, but living in the area for 11 years I feel downtown Fort Myers is not for me.

Hey Wendell,

It seems like most of your deals are in the Fort Myers/ North Fort Myers areas, do you think this is a coincidence or are the values in Cape Coral just not there? I know you have one in Cape Coral now, but in general...

I'm concentrating my time in Cape Coral now, looking for my second deal for buy and hold, but just interested to hear your take on the market. It seems like the Cape Coral market is highly picked over, but I'm looking for an owner occ deal and am tied to the area

I am not the expert, but to my knowledge any multifamily 4 units and under that are owner occupied can use any typical financing including 3.5% FHA and 5% conventional options. I purchased an owner-occ duplex last year with 3.5% FHA

Good luck Trevor! Let us know how it turns out!

It is in Cape Coral, but no it is not even close to Lehigh Acres. I live in Cape coral now and know the area well. Lehigh although can be a good investment in general is a much rougher area and potentially much worse renters/ depressed home values.

Thanks for the reply Ned! I am buying the propety FSBO and for my market I feel it is 20+ percent undervalued. Multi-family in ok neighborhoods are going crazy here. A 10% CAP rate is difficult in my area. Including maintenance, vacancy as well as insurance/taxes I will still essentially live in the property for free. Once I move out it will be a COC return of 135% figuring 2.5% closing costs and rent of $550 per side which again is low.