All Forum Posts by: Alvin Taveras

@Steven E.

Great question. The areas of Port Charlotte, North Port, Rotunda West & Cape Coral have become very popular for investors. A new construction (if done correctly) can often be a much better value than a resale home especially if you consider the cost of ownership. One of the key questions you have to ask yourself is whether you want to figure everything out on your own; buy a lot, select a builder get a construction loan, and get an end loan, etc. Alternatively, you could partner with investors with properties currently under construction and simply get an end loan on your selected property. Often times this dramatically reduces the issue with build time, as they are already under construction.

@Mike Terry brought up some good points with regards to flood zones and builder quality. Tenants aren't going to pay more just because their landlord needs to pay higher insurance premiums. 

@Alissa Kronovet; As far as which market, you want to go a bit more granular and actually look at the street address, understand future zoning, development plans on a busy rd, near schools, etc. Market wise, you can go wrong. Address wise, there will be some that are more favorable than others. You'll definitely want to comb through this to identify the best option.

Let me know if I can provide further assistance.

@Lorraine Patterson I'd have to agree with most comments so far. I would add that domestic and interstate tourism inflow has definitely had a strong upswing throughout the pandemic. Florida has (for the most part) stayed open and the growth trends will likely continue. 

For a str, definitely a pool with privacy is always preferred. The key benefits on investing here is the cost to get started and being able to buy a newer property (less brain damage), compared to other Florida metros. This area definatly feels like a hidden gem.

Hello Frank,

Great question. My preference is to always work with my lender to get their okay. Before refinancing, ask them how the process of getting approved once and ask if having it on LoopNet would have any effect. But I do agree with most comments as to why refinance just before selling. You would essentially pay double the closing costs. 

Do you have a balloon payment coming up?

Hello @Vicki Ducanois,

Great question. Yes all three of those markets are developing quickly. Having worked with investors in each of them, I would have to agree that the city of Cape Coral has several advantages over the other two. Cape Coral alone is a large market with various options within it. Even within waterfront properties, you have to calculate several factors (fresh v. salt, time to open water, # of bridges, the height of bridges, canal width, seawall, etc). 

I have a relationship with several builders in the region. Feel free to let me know if you have any questions. 

@Andrew Rushing Thanks for the question.

Doing a Build-to-rent on your own is a lot easier to justify on the high-end or multi-families. At the mid to low price point, the head trauma isn't worth a potential small savings. Also if you are a first-time developer there are a lot of costs that you may not have calculated (construction loans, building fees, connection fees, lot clearance etc). Also if you are building in an area with cheap land, you want to make sure that the property will appraise for your end-loan amount. Unless you are looking to scale this business, it might be a better option to partner with a spec builder who is already doing this. This is all from my experience working with investors looking at Southwest Florida. 

Let me know if you have any additional questions.

Hello Allan, Yes I have. 

They are a spec builder that includes several high-end finishes to their product. Feel free to reach out to me directly for more details. 

@Anthony Prioli Best of luck on your wholesaling endeavors. I'd recommend having a deep understanding of what your buyers are actually going to buy from you. A lot of wholesalers work really hard on getting a "deal" only to find out that nobody wants it. This can be a very frustrating process. It helps if you can actually close on the property. 

I have an investor list and review deals all day. Feel free to send any opportunities my way. 

@Robert Alpizar Thanks for sharing your plans. I love the creativity and how big you are thinking. My only advice is to start with one cabin and find a place suitable for it. Maybe you lease some land to try it out. Doing this you will likely learn a lot in a short about of time and each mistake will cost much less. Within a few months, you would have a proof of concept and be a well-oiled machine. 

Best of luck!

Hello @Deirdre Renick and welcome to BP!

Yes, my wife and I have also started with Dave Ramsey's Baby steps and we have actually been able to flip our way out of our 200k student loan debt. You guys are definitely on the right path. Cape Coral has a lot of different investment options. I'm obviously biased, but I can't imaging living anywhere else. I think our population is growing so quickly because the rest of the country is realizing just how special this area is. 

Let me know if I can assist in any way. 
 

Thanks, @Raymond J. Rodrigues. 

Yes, I got it. I can happily share your investor with the best investment properties in SWFL. I look forward to working with you!