All Forum Posts by: Don M.

The below timeline is not to express any level of happiness or unhappiness. It is there to share the timeline, as I best understand it.

Received an update 2/17/23. Same status as update received 2/1/23.
Ready for underground plumbing.

-Contract January 2022
- >6 months ago Construction permit approved 8/17/22 (not issued until fees are paid)
- >5 months ago Alt Seawall permit approved and issued 9/13/22 (slated to expire 3/13/23, but was informed this will be addressed and shouldn't be an issue).
-As of 2/17/23 update underground plumbing not yet installed, slab not yet poured.

4 Votes

Cape Coral, Florida

Quote from @Arjun S.:

Hello @Don M.! I am planning to hold on to this for a while considering this area has a good appreciation potential over the next few years.

Slab to completion is usually around 6months. So hopefully they will knock it out soon. Good luck with your project!

Thanks for the update. I hope to do the same, but we'll see how everything plays out! I believe in the area long term, as well. My areas assessments aren't slated to hit until 2035.

0 Votes

Quote from @Yasser Quraishi:

Update: I received an e-mail today from Delta updating me on the status - the Lot has been scrapped and several other activities have been completed, so it looks like the project is continuing. I am eager to get this project completed as it has been a while since this journey began.

Glad you have an update and progress! Hoping that continues for you

2 Votes

Cape Coral, Florida

Quote from @Patrick Bavaro:

@Jeffrey Ascough Happy to update! We are currently in the process of starting to go vertical. Finished the foundation about a month ago, but had some delays with Hurricane Ian. The next draw of funds just took place. According to the builder, it should take 6 months to finish. We will see. Overall, R2R and @Zach Lemaster have been true to their word and great to work with. I still have some things to work out with the builder, but its to be expected with any new build project. Progress is slower than I'd like with the builder, but its still progress. Feel free to reach out with any direct questions. Im planning to do some other new builds with R2R as well.

Glad to see your update, and glad to see you are making some progress. I hope your progress continues with the updated proposed timeline! @Patrick Bavaro

2 Votes

Quote from @Tom Wang:

Quote from @Bernard Joseph S.:

Quote from @Tom Wang:

Quote from @Bernard Joseph S.:

Quote from @Tom Wang:

Great post. I'm in a similar boat and own a freshwater plot in Cape Coral. I'm attempting to get it zoned to enable building a duplex. Could you share a bit about how you identified the builder you eventually decided to work with? Was it through internet search/referral/ other channels? If you know anything about duplex builders (most seem to be single family only?), could you let me know also? Thanks!

How big is your lot?

Standard Quarter acre

Curious about the approval for a duplex on a standard lot. They tend to build out not up in CC from what I’ve seen. Someone with a better understanding will comment I’m sure but I tend to think it will be a difficult move.

Quick update here. Spoke to the planner on duty in CC. And his take was that they just mark whatever area doesn't have city sewer yet (they are building these out over 5-10 years), will be in the Single/Multi "catch-all" zoning. Once the public works are there they will just revert to existing zoning which in my case is SFH.

He did mention that if the lot is facing a major road, they board would consider rezoning to MF, but since my lot is about 7 spaces into the neighborhood, it probably wouldn't be approved. FYI

Interesting! Thanks for sharing. Good luck with whatever you choose to do moving forward!

2 Votes

Cape Coral, Florida

Quote from @Mark S.:

Marcus High Yield Savings, currently 3.30% APY. M1 Finance is supposed to be launching a high yield savings this quarter at 4.50% for M1 Plus members. Still waiting for that.

I use Marcus by Goldman Sach's, as well. As Fed rates increase, various online banks continue to adjust their interest rates, but this one has remained competitive and accessible enough for me to not change every time another bank offers 0.1% higher.

1 Vote

Boston, Massachusetts

Quote from @Tom D.:

Quote from @Don M.:

Quote from @Bob Stevens:

Quote from @Jake Warren:

I am heading to Florida for a month and would like to close on a deal if I can find the right one. what's the best areas for a rental to buy in for a LTR.

You can get much higher returns in other markets, But if you are only wanting FL then Cape Coral

I agree with Cape Coral. Deals to be found, but high rental demand and strong rents (even more so post-Hurricane Ian)

I have spoken to others about Cape Coral and read that they advise to find neighborhoods without HOAs (I guess they exist) and buy a home without spending the extra 150K for the canal. They said the numbers are much better because no one ever brings a boat. Thoughts?

Surprisingly, the majority of Cape Coral residences are not in HOA (although there are communities that exist).
I would say it's not totally black and white, but in general when discussing LTR, I would agree. The premium price tag on saltwater canals would be hard to justify in terms of rents.
In terms of long-term appreciation or using the property as a STR, it could be a different story.
Just my opinion with my limited experience, but @Peter Davis and @Stetson Miller are two people with much more experience in the area.

3 Votes

Toronto, Ontario

Quote from @Bob Stevens:

Quote from @Jake Warren:

I am heading to Florida for a month and would like to close on a deal if I can find the right one. what's the best areas for a rental to buy in for a LTR.

You can get much higher returns in other markets, But if you are only wanting FL then Cape Coral

I agree with Cape Coral. Deals to be found, but high rental demand and strong rents (even more so post-Hurricane Ian)

1 Vote

Toronto, Ontario

Quote from @Ruchit Patel:

Quote from @Don M.:

Update:
Digging and form boards placed, ready for underground plumbing. Eager to get through slab process.

How are you getting updates? Do you live in Cape Coral and drive by to get pictures?

I do not live in the area. These have come directly from the build team with my recent updates (although I did visit the area during the process and most certainly will again).

1 Vote

Cape Coral, Florida

Quick update on my project.
Form boards placed, and my build is now ready for underground plumbing.
Eager to get through slab process, but thankful for another update with progress.

Build permit approved August 2022.
Lot scraped November 2022.
Awaiting slab pouring.

2 Votes

Cape Coral, Florida

All Forum Posts by: Don M.

Don M. has started 2 posts and replied 135 times.

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