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Buy/Hold Lehigh Acres, Florida: the good, the bad, the ugly???
Hi Everyone, my husband and I are considering buying a duplex in south Lehigh Acres. How is buy and hold going in this area? For those locals, is northeast Fort Myers any better than Lehigh for quality of tenants or is it one in the same? I've heard bad things about the area and am getting cold feet, but would like to hear from some locals regarding whether these fears are warranted. On paper cap rate looks good and I've heard there's a hot rental market, but not sure about in practice and what quality of tenants we could expect. Thanks for any advice you can share!! :)
I am happy to connect! I live in Lehigh (save a ton of money that way) and I also own a single family rental in Lehigh that has great tenants. There are certain areas in Lehigh I would avoid but happy to talk or text over the phone and share my experience.
Hi April,
I'm a local realtor and investor. I have invested in Lehigh over the past 15 years (flips and buy and hold property). It's like anywhere else, you have the good, the bad and the ugly, you said it yourself. You just have to stay away from the not so good areas. Lehigh can be very profitable if you have the right people who know the area and the right house. If you need help, don't hesitate to reach out.
Hi April,
I am a long term investor particularly in Lehigh Acres area and I am renting ONLY single family homes. This is my business since 2011. Please note, that I have decided to invest ONLY in single family homes. For sure there are some not so good areas in Lehigh but you can get a lot of return from you investment if you find the right one! If you need some more information or advice you can text me or contact me by email.
Please note, that I am not a realtor but a long term investor that successfully manages his own properties in Lehigh Acres FL.
@Felicia Hernandez-Fortunato
Hi! I'm new to real estate investing and I'm looking to network and meet new like-minded people. I will also be needing an agent soon to help me find the right property to start out with. I've been researching and learning everything I can for the last few months now but I think I need to just jump in and get some experience. And I'm always open to any advice.
@April Eilers @Mary Katherine Blake @Felicia Hernandez-Fortunato @Lord
Hello everyone, i know this is a post from a few months ago but i was looking around and i came across it and decided to write back since i am also looking to invest in Lee County, FL. I do not know the market but i have seen a few properties in Cape Coral and Lehigh Acres (single family and duplexes). So i was looking for people that know the area well and that have invested in the area to give any advise on the good areas and the bad ones, rental prices, type of tenants in this area you name it....everything and any advice would be very appreciated!!!!
Thanks in Advance!!
@Kiara Lugo Like people have stated previously, there are certain parts of Lehigh that you will want to avoid. A short drive through the town and you will easily be able to tell that. What I can add is that, excluding the gated communities, the average Lehigh neighborhood is about a C area. Because of this, extra diligence is tenant screening is highly warranted for the investor's success. There's a great article on the site written by Brandon Turner on the topic, check it out!
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Broker
- (850) 259-2910
- https://www.thesimonelligroup.com/
- [email protected]
Hi all,
I know this post is a bit older and I was just searching around. I'm pleasantly surprised how many investors are in the same area as me! I own a property management company in Fort Myers and service Lee and Collier counties as well as being an investor myself. I love Lehigh as an investment market. One could say, Lehigh paid for my college education. I will add that it is very important to have a through screening process. However most of my Lehigh tenants are amazing and renew year after year. I'd be more than happy to chat and provide some tips to anyone about any of our local markets.
Hey guys,
Are you seeing property in Lehigh/Cape Coral/Fort Myers drop in value at all as a result of COVID? Trying to understand the market in Lee County and how it is reacting to this crisis.
Thanks!
@Sam Parr the major impact that we were seeing was a huge drop in new listings, and many properties were being withdrawn from the MLS because sellers didn't want to seem desperate to sell in a time like that.
However, this is rapidly changing and we're already seeing a strong return to the previous market as everybody who was waiting to sell or buy is flooding back into the market. If anything, I've noticed a small price adjustment in slightly lower list prices, but it's hard to tell when you're waiting for a trend to occur whether a handful of new listings now represent the entire market as a whole.
Let me know if you have any more questions or if there's anything else I can help out with!
-
Broker
- (850) 259-2910
- https://www.thesimonelligroup.com/
- [email protected]
Hello to everyone, currently Lehigh Acres, FL is a huge market for investment opportunities if you are looking for Multi-family units. I can tell you that a BRAND NEW duplex that is being built is being bought by majority of FHA loans; however I still think a investor can make a return since this market will cause a slow down in buying soon basing this off if interest rates go up! The last brand new duplex I sold each side was rented out at $1,500 each. If this market does slow down because of interest rates then, rent may see a increase because they won't be much option for people to buy because it will cost more than RENT at that point. No one has the crystal ball, but this is a prediction I currently have. Supply and demand is very high right now because people are moving from outside the FL to here because of the what type of restrictions the COVID virus has caused in other states. This adds to the fact I think rent will still up and may even go higher if interest rates go up. I service the Lehigh Acres, Naples, Cape Coral, Bonita Springs and Fort Myers area.
Very insightful view @Tyler Triplett
Hello everyone my wife and I are looking into buying a lot in Lehigh acres for investment purposes but we really do not know if this would be a smart business decision at this time. We already bought 1 next to a lake about 6 months ago in the area of barefoot lake near state road 82. The other lots that we are considering are also close to State Road 82 near homestead boulevard. Does anyone have experience in this area and also how the market is by lots any advised will be deeply appreciated.
Our fear is that a lot of people are buying these lots and holding it and at some point they will deppreciate it in value. We are not big investors.
@Ricardo Malpartida This would largely depend on your strategy. If you're looking for somewhere fairly safe and consistent to store cash, land purchases in this area could be a good option. However, if you're really looking to grow that money, this isn't something I would recommend as it's not expected that these lots have a ton of upside in the near future. Unless you also had plans for new builds in the near future, in my opinion, there's much better investment options available in the immediate area
-
Broker
- (850) 259-2910
- https://www.thesimonelligroup.com/
- [email protected]
Quote from @April Eilers:did you ever end up buying this? I'd love to talk to you if so please send me a DM
Hi Everyone, my husband and I are considering buying a duplex in south Lehigh Acres. How is buy and hold going in this area? For those locals, is northeast Fort Myers any better than Lehigh for quality of tenants or is it one and the same? I've heard bad things about the area and am getting cold feet, but would like to hear from some locals regarding whether these fears are warranted. On paper cap rate looks good and I've heard there's a hot rental market, but not sure about in practice and what quality of tenants we could expect. Thanks for any advice you can share!! :)
Quote from @Robert Ellis:
Quote from @April Eilers:did you ever end up buying this? I'd love to talk to you if so please send me a DM
Hi Everyone, my husband and I are considering buying a duplex in south Lehigh Acres. How is buy and hold going in this area? For those locals, is northeast Fort Myers any better than Lehigh for quality of tenants or is it one and the same? I've heard bad things about the area and am getting cold feet, but would like to hear from some locals regarding whether these fears are warranted. On paper cap rate looks good and I've heard there's a hot rental market, but not sure about in practice and what quality of tenants we could expect. Thanks for any advice you can share!! :)
I didn't see their response on if they did or didn't but did you have a question about the area?
Quote from @Tyler Triplett:
Quote from @Robert Ellis:
Quote from @April Eilers:did you ever end up buying this? I'd love to talk to you if so please send me a DM
Hi Everyone, my husband and I are considering buying a duplex in south Lehigh Acres. How is buy and hold going in this area? For those locals, is northeast Fort Myers any better than Lehigh for quality of tenants or is it one and the same? I've heard bad things about the area and am getting cold feet, but would like to hear from some locals regarding whether these fears are warranted. On paper cap rate looks good and I've heard there's a hot rental market, but not sure about in practice and what quality of tenants we could expect. Thanks for any advice you can share!! :)
I didn't see their response on if they did or didn't but did you have a question about the area?
no I don't like Lehigh no infrastructure or commercial really built out. we focus on higher density midrise infill in columbus ohio and Miami FL
Quote from @Robert Ellis:
Quote from @Tyler Triplett:
Quote from @Robert Ellis:
Quote from @April Eilers:did you ever end up buying this? I'd love to talk to you if so please send me a DM
Hi Everyone, my husband and I are considering buying a duplex in south Lehigh Acres. How is buy and hold going in this area? For those locals, is northeast Fort Myers any better than Lehigh for quality of tenants or is it one and the same? I've heard bad things about the area and am getting cold feet, but would like to hear from some locals regarding whether these fears are warranted. On paper cap rate looks good and I've heard there's a hot rental market, but not sure about in practice and what quality of tenants we could expect. Thanks for any advice you can share!! :)
I didn't see their response on if they did or didn't but did you have a question about the area?
no I don't like Lehigh no infrastructure or commercial really built out. we focus on higher density midrise infill in columbus ohio and Miami FL
The infrastructure really needs work for sure. What about the Tampa area? In Tampa they have good infrastructure, but are you still interested in just duplexes or larger units like 10 units and up?
Quote from @Tyler Triplett:
Quote from @Robert Ellis:
Quote from @Tyler Triplett:
Quote from @Robert Ellis:
Quote from @April Eilers:did you ever end up buying this? I'd love to talk to you if so please send me a DM
Hi Everyone, my husband and I are considering buying a duplex in south Lehigh Acres. How is buy and hold going in this area? For those locals, is northeast Fort Myers any better than Lehigh for quality of tenants or is it one and the same? I've heard bad things about the area and am getting cold feet, but would like to hear from some locals regarding whether these fears are warranted. On paper cap rate looks good and I've heard there's a hot rental market, but not sure about in practice and what quality of tenants we could expect. Thanks for any advice you can share!! :)
I didn't see their response on if they did or didn't but did you have a question about the area?
no I don't like Lehigh no infrastructure or commercial really built out. we focus on higher density midrise infill in columbus ohio and Miami FL
The infrastructure really needs work for sure. What about the Tampa area? In Tampa they have good infrastructure, but are you still interested in just duplexes or larger units like 10 units and up?
from spending my last 10 weeks in miami looking at 500 land deals and making offers and doing underwriting on deals with construction values higher, the playing field above 10 million is so much easier and better and of more interest and separates all the newbies from sophisticated. at my level there is no reason to do small deals. the only multifamily I do under commercial at this point is a triplex we build over and over for out of state investors in Columbus Ohio which is just a unique little niche. tampa I'm not too familiar with zoning or rezoning but columbus is such an old city it has so many mutilfamily properties and rezoning is very easy to get the entitlements for ground up new construction. I like miami and columbus because miami is land locked and the opposite. columbus is very affordable. both are the highest net migration cities by head count in their respective states
Quote from @Robert Ellis:
Quote from @Tyler Triplett:
Quote from @Robert Ellis:
Quote from @Tyler Triplett:
Quote from @Robert Ellis:
Quote from @April Eilers:did you ever end up buying this? I'd love to talk to you if so please send me a DM
Hi Everyone, my husband and I are considering buying a duplex in south Lehigh Acres. How is buy and hold going in this area? For those locals, is northeast Fort Myers any better than Lehigh for quality of tenants or is it one and the same? I've heard bad things about the area and am getting cold feet, but would like to hear from some locals regarding whether these fears are warranted. On paper cap rate looks good and I've heard there's a hot rental market, but not sure about in practice and what quality of tenants we could expect. Thanks for any advice you can share!! :)
I didn't see their response on if they did or didn't but did you have a question about the area?
no I don't like Lehigh no infrastructure or commercial really built out. we focus on higher density midrise infill in columbus ohio and Miami FL
The infrastructure really needs work for sure. What about the Tampa area? In Tampa they have good infrastructure, but are you still interested in just duplexes or larger units like 10 units and up?
from spending my last 10 weeks in miami looking at 500 land deals and making offers and doing underwriting on deals with construction values higher, the playing field above 10 million is so much easier and better and of more interest and separates all the newbies from sophisticated. at my level there is no reason to do small deals. the only multifamily I do under commercial at this point is a triplex we build over and over for out of state investors in Columbus Ohio which is just a unique little niche. tampa I'm not too familiar with zoning or rezoning but columbus is such an old city it has so many mutilfamily properties and rezoning is very easy to get the entitlements for ground up new construction. I like miami and columbus because miami is land locked and the opposite. columbus is very affordable. both are the highest net migration cities by head count in their respective states
Have a duplex in Lehigh currently, listing for sale, considering monthly rental during sale of property. Any thoughts of the area ?
Hi @Nancee Larson,
If your property is currently vacant, or at least one unit, I would recommend leaving it like that to make showings easier during the sale process. In addition to that, most buyers have a preference for placing their own tenants versus inheriting tenants, even if they just moved in. This allows the buyer to ensure that the tenants have been fully screened according to their own standards, and doesn't leave any questions
-
Broker
- (850) 259-2910
- https://www.thesimonelligroup.com/
- [email protected]
Quote from @Nancee Larson:
Have a duplex in Lehigh currently, listing for sale, considering monthly rental during sale of property. Any thoughts of the area ?
rents people are getting quoted are higher than what rents on the same street are going for. the market demand is not strong enough and deliveries are too high. I think it's better for for sale product not rentals personally. I've been to Lehigh twice in the past year personally nothing much has changed. markets don't change that fast. have you been there?
Quote from @Nancee Larson:
Have a duplex in Lehigh currently, listing for sale, considering monthly rental during sale of property. Any thoughts of the area ?
Did you already get a market report for your Duplex? I have data for Duplexes in Lehigh Acres if you are interested in it?