Best Areas to look for Flips, Rentals, and Wholesales in SWFL?

[Antoine Griffin]

Best Areas to look for Flips, Rentals, and Wholesales in SWFL? Just moved down for a job. Looking to start doing more research.

[Adam Bartomeo]

You will typically find a lot of distressed properties in Ft Myers due to the age of the properties and the economic diversity in the city. Right now you can find some great but risky deals on Sanibel and Ft Myers beach. There are still flood properties around the city that can be purchased cheap and have enough margin to make money. If you are looking to B&H than Cape Coral may be a better option as home prices are still decreasing and it is a great time to buy.

[Antoine Griffin]

I appreciate your response. Helps me really understand. What makes the fort Myers deals risky? Shaky structures?

[Adam Bartomeo]

@Antoine Griffin Ft Myers Beach and Sanibel got pounded with the storm. Some of those building had extreme structural damage that would need to be identified by an engineer or architect. 

[Nick Bednarczyk]

Quote from @Antoine Griffin:

Best Areas to look for Flips, Rentals, and Wholesales in SWFL? Just moved down for a job. Looking to start doing more research.

 Whatever you decide we can help you finance your future deals. Fort myers, cape coral ,etc have some wonderful opportunities for those with a keen eye and true understanding of the buildings' structural situation. so working with a good inspector is key to moving forward. Best of luck to you and let's connect.

[Antoine Griffin]

Thanks Nick! I’ll definitely be in touch. Quote from @Nick Bednarczyk:

Quote from @Antoine Griffin:

Best Areas to look for Flips, Rentals, and Wholesales in SWFL? Just moved down for a job. Looking to start doing more research.

 Whatever you decide we can help you finance your future deals. Fort myers, cape coral ,etc have some wonderful opportunities for those with a keen eye and true understanding of the buildings' structural situation. so working with a good inspector is key to moving forward. Best of luck to you and let's connect.

[Antoine Griffin]

Quote from @Adam Bartomeo:

@Antoine Griffin Ft Myers Beach and Sanibel got pounded with the storm. Some of those building had extreme structural damage that would need to be identified by an engineer or architect. 

Fair enough! I did hear about the structural issues a few times but didn’t realize it was that much. Did see how bad the hurricane was though. Terrible.

[JASON V.]

I had a property on Fort Myers Beach that I sold after the hurricane. In order to get power ran back to our house, we had to get a structural report/sign off from an engineer. So depending what you're looking at, most things that have power restored should of already passed a structural inspection.

Pay attention to mold and electrical as well. Most of the houses that were sitting on grade were  completely or almost completely under water. (my house was underwater completely except for the crest of the roof) ALso, the city wasn't letting anyone back on the island (even owners) for like 14ish days (I forget the exact number), so ALL of the non-raised houses were full of mold by time anyone was allowed to go in and start doing things. 

Hopefully you're aware of these types of issues, or as Nick Bednarczyk stated above you get a good inspector who will be on the look out for them.

[Antoine Griffin]

Quote from @JASON V.:

I had a property on Fort Myers Beach that I sold after the hurricane. In order to get power ran back to our house, we had to get a structural report/sign off from an engineer. So depending what you're looking at, most things that have power restored should of already passed a structural inspection.

Pay attention to mold and electrical as well. Most of the houses that were sitting on grade were  completely or almost completely under water. (my house was underwater completely except for the crest of the roof) ALso, the city wasn't letting anyone back on the island (even owners) for like 14ish days (I forget the exact number), so ALL of the non-raised houses were full of mold by time anyone was allowed to go in and start doing things. 

Hopefully you're aware of these types of issues, or as Nick Bednarczyk stated above you get a good inspector who will be on the look out for them.

Solid advice: and great insight. I can see why it may be risky then. Sounds like extra money upfront to determine if it’s a good deal in a market that’s already slim on deals as is. Are you still buying?

[JASON V.]

I am, but I'm a smaller investor and only do one or two a year anyway.