Need Advice

[Lynzie Mackey]

My family moved to Fort Myers 6 months ago, and have rented a place so we could get to know the area. I've been studying and looking at multi-family homes here, San Carlos Park, Bonita Springs, and Cape Coral. Haven't really found anything that cash flows. We put an offer in on a multi-family that looked like like a good deal as well as a SFH, but were beat out because we do not have cash (we're looking for our first property). All of the multi-family homes that would cash flow, are not necessarily areas I would like to move my family to (including a 2 year old). I've also been trying to find single family homes in good areas that we could move into for a year or two, and that would cash flow afterwards. Prices still do not seem to be in our favor. Any advice?

[Joe Krevinghaus]

Hi Lynzie, I live in the cape and I believe there are still duplexes available that could still cashflow. Have you tried some of the bank owned properties where an owner occupant would get priority over the cash buyer investor? I bought my SFR from a bank a year ago. It's a live in flip that just needed updating although I may rent it out before I sell.