SW Florida Market

[Alex Balan]

Hello everyone. I am looking at gradually getting into the real estate business with the hopes of not having to work a "regular" job one day. I am thinking about flipping and/or buy and hold. I live in Naples Florida but the market here is too rich for my blood. So....I am looking a little further north possibly in Charlotte County. Does anyone here have any experience in this neck of the woods? Is there enough inventory for flipping? Are there enough tenants for buy and hold? What are the pros and cons of purchasing properties in cash as opposed to financing? Thank you all in advance! Alex Balan

[John Thedford]

@Alex Balan welcome to BP. I live in Naples as well. Buy and hold with annual rentals is tough in Naples. Prices are quite high and good returns are VERY hard to find. I am investing mostly in Lee county. If you subscribe to the "1% rule" Naples will never work. You will find an occasional deal in the Cape Coral area which is where I prefer to buy and hold. There are areas in Ft Myers where you can do much better than 1%, but they are C and D areas. My investing criteria is nicer houses with higher rents and less turnover. Other investors have different objectives. My suggestion is to research the market, define your goals, make a plan, and work it. Also, we have a local REIA in Ft Myers and I encourage you to join. PM me if you want details. Good luck.