Cape Coral vs. Fort Myers - Posted by HG

Real Estate Investing Raw Land
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Posted by Jim FL on March 14, 2005 at 14:57:55:

victor,
Your best bet in my opinion to network with like minded investors in that area, is to seek out the local REIA clubs.
There are tons of them here in Florida, that cover just about every major market, and then several smaller ones in between.

I KNOW ocala is booming, and the areas around there.
I have a friend who runs an excavation company, and has been working the last two years straight prepping LARGE development sites.
These places have one day sales and sell the buildable lots, with waiting lists for the next project.
I’m sure the market there will keep this up for some time.
The area in my opinion is one of the prettiest in Florida.
Lots of horse friendly areas, hills, and just plain nice.

Seriously, get with a club from there, perhaps seek out posts by “Rob FL”, he’s an agent in the Orlando area, but I seem to recall him having something to do with Ocala as well.
Perhaps he can help…he’s a RE broker and PRO REI, good guy to work with.

I personally have never invested there, but that might change, based on what I’ve seen over recent months.

Good luck, and hope you close soon, the weather here is just getting to warm up toward HOT!

Take care,
Jim FL

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Cape Coral vs. Fort Myers - Posted by HG

Posted by HG on March 02, 2005 at 14:05:27:

Hello,

I plan to buy a property in SW Florida and would like to know where it would make more sense to invest, Cape Coral or Fort Myers?

By the way, I have some friends who advised me to be careful about investing in SW Florida (Fort Myers/Cape Coral) since there is really no potential growth for economy (no industry, only tourism) in this area. Do you think this is a risk?

Any would be really appreciated.

Thanks,
HG

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Re: Cape Coral vs. Fort Myers - Posted by Ken (Fl)

Posted by Ken (Fl) on March 03, 2005 at 10:34:20:

You can make money on real estate in any market, in any area, during any economy.
The real question is what is your goal. Are you short term, long term, appreciation minded, cashflow, under value …
You need to answer that then determine your financial goal. You make make more per deal in one area but have a higher volume in another. Everything is relative.
Start writting out lists of what is important to you, where your comfort zone is, short term and long term goals, family expectations, financial expectations, spiritual expectations. Then when you are totaly confused about what you want you will see the clear path. A bit Zen in a way.

That is just my thought.

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A long time ago I was told… - Posted by Clint

Posted by Clint on March 03, 2005 at 06:44:27:

It is not Either / Or It is Both And.

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Re: Cape Coral vs. Fort Myers - Posted by Ed Copp (OH)

Posted by Ed Copp (OH) on March 02, 2005 at 22:17:01:

Russ Whitney lives in Cape Coral, must be a reason for that.

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Peanut Butter or Jelly - Posted by JT-IN

Posted by JT-IN on March 02, 2005 at 17:57:51:

Someone came up with a brilliant conclusion some years ago… if you apply a little bit of both to a slice of bread, they both taste better…

You could use that same philosophy when evaluating these two areas… If you want to invest in raw land (lots) you might consider the Cape… or even Lehigh. More difficult to get undeveloped lots in Ft. Myers. Prices for comparable develpoed lots with house or condo on them, might be slightly lower in price in Ft. Myers than CC now… CC has simply gone through the roof here lately. Although, there appears to be no end in sight… However, do recognize that this is HIGHLY speculative and not the same as investing into a conventional property such as income oriented or instant equity of a distressed seller. In the event that something major goes awry with the economy, a similar event such as 9/11, or other major blip, it could have serious repercussions on the “throw cash at a spot and watch it grow” approach…

There are truly NO guarentees that this hyper market will continue, but I hear folks say the words like “GUARENTEED 30% INCREASE PER YEAR”… In fact, I just heard two 60’s something grey haired little gals coming out of the grocery store today say… “you can’t help but make money in this RE mkt”… As if it was an absolute surety… Althogh folks have gotten comfortable with the fact that FL RE returns are as certain as CD interest was back in 1980… 18% interest. Things do change, and factor in a holding or exit plan in the event that “the worst DOES happen”.

Just the way that I view things…

JT-IN

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Re: Cape Coral vs. Fort Myers - Posted by Pat

Posted by Pat on March 02, 2005 at 16:28:41:

HG, the friends are full of it!! The baby boomers are starting to retire in the next couple of years and if you are not on the investment train now, it’s going to leave you at the station. While true not much in the way of economic activity in the rust belt sense, this area continues to be THE place people want to live. Beaches, weather, etc. all combine to make the southwest Florida market hot, hot, hot. I live in North Port and have seen lots go from under $5K two years ago to over $35K now and no end in sight. Cape Coral was North Port a few years ago. We purchased a pre-construction 3/2 condo in Ft. Myers a year ago. $112K and they are selling now, before completion, for $150K…the market just keeps going up. Get on now!

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Re: Peanut Butter or Jelly - Posted by Bill Taylor

Posted by Bill Taylor on March 02, 2005 at 21:46:09:

JT, are you down in Flor. for the winter. Are you trying to work some deals down there? I have some thoughts of going down there and looking ,what do you think? YOu always seem to be ahead of the curve. Are you donw in the Ft Myers market?

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Re: Cape Coral vs. Fort Myers - Posted by Shannon

Posted by Shannon on March 02, 2005 at 22:21:47:

Hello,

I have always wanted to move somewhere in Florida and start investing…flipping, preforeclosures and buying to hold for retirement etc… it is a big state… where are the best places in Florida to invest~ where it’s not hard to find a good many deals? Any advice or insight is appreciated…

I would also like to know if anyone has an opinion on the school system in Florida now. We have young kids.

Thanks in advance. Shannon

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Re: Cape Coral vs. Fort Myers - Posted by Bill Taylor

Posted by Bill Taylor on March 02, 2005 at 21:49:30:

Pat can you get into a lot of those deals? I am looking to invest maybe even speculate a bit, do you know a good investment realtor down there. I am sure it is difficult to find deals but what about values, how can you determine. I suppose there are comps but with all the speculaters down there how valid are they.

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In FL now… - Posted by JT-IN

Posted by JT-IN on March 02, 2005 at 22:09:06:

Hi bill:

How’s the weather in IN…?

Yep, I’ve been down here several weeks and will be for another 3 or 4 wks yet… Been throwing some money at some of these crazy deals down here…

Come-on-down… there’s plenty for every one… I’ll send you a private email off the board to elaborate a bit… Hope to see you.

JT-IN

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Re: Cape Coral vs. Fort Myers - Posted by Jim FL

Posted by Jim FL on March 03, 2005 at 12:54:00:

Shannon,
I’ll chime in a bit, the last part of your post caught my eye.

As for where to invest in Florida?
frankly, the entire state is great, because ‘northerners’ want to move here, all the time, in droves.
Water front, or near, as in coastal towns/cities are always a good buy.
However, inland near major metro areas are also VERY HOT!
Basically, when I talk to people thinking of moving to Florida and wanting to know ‘where’s the best place to go?’…I tell them this.
Find the place that fits what you picture your life in Florida being…what amenities do you want in a community, there are tons, and all different.
From major metro like Tampa and ORlando, to coastal beach towns that are slow, to rural farm/ranching areas…and some grassy flowing hilly areas, near Ocala etc.
Something for everyone, and guess what?
People buy and sell houses in ALL those areas.

Now, as for the schools…compared to what I was used to in my old state, they stink.
FCAT, which is the state mandatory test for all kids to take, and in some grades, they must pass it with certain scores to move on, regardless of GPA…and limited resources…yuck!
But, sports, well, in my area anyway, it rocks.
So, for my family, we augment their school education with home work/study, and summer programs etc, plus two seasons of sports per year outside school.

I’d not recommend the schools here to anyone, unless they have the ability to overcome what public schools lack…with private schools, or other resources.

Anyway, just my two cents, keep the change,
Jim FL

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Re: Cape Coral vs. Fort Myers - Posted by victor duque

Posted by victor duque on March 14, 2005 at 13:31:54:

Dear Jim,
I am in the building/remodeling busines in MA, I am also one of those northerners relocating “BURR” sick of snow! I Plan on relocating to Marion County, Ocala as soon as my cape cod properties close. I have capitol/good credit/skills and tools to tackel fixers for profit. My sister is a new realator in Ocala and states that she has many qulified buyers but no inventory to sell them. She states that there are many fixers but her clients desire “move in products”. She is new to the business and I wonder if you are aware of the market in the area. If not can you lead me to someone that will consider networking with me in the area? Many thanks!