All Forum Posts by: Kevin Reid

Thank you very much for the replies. I'm currently looking at several lots and driving the area it seems all the new homes being built in the AE4 zone have been the footers raised about 2ft above normal lot grading (block homes). Even the AC units are sitting on a pedestal. Not the end of the world, but I may have another option.

So in this area of SW Florida there are basically 2 obstacles to building. Flood zones as mentioned above, and the endangered Scrub Jay zones. The area is peppered with both zones, many overlapping. The Scrub Jay mitigation costs about $2,200 from what I've been told. It seems that being it's a onetime cost maybe that's the better way to go, Scrub Jays with flood zone X.

Good day, 

I'm wondering if anyone has experience with buying lots in a floodzone? Let's say the zone is AE4. Does that literally mean I need to raise the lot 4ft to build? Or do I have to raise it to avoid flood insurance? If so how much can it cost to grade a lot up 4ft on a 1/4 acre? Or is it better just to add additional foundation height?

Thank you.

Delay the build until the leases are up for renewal and change the usage and availability then.

How do you reply with just the @ and a name. It won't let me do anything but a full quote.

It's in a market that is set to be fruitful in a few years, but is still reasonable to get into now. It's a coastal area that is building up. Everything on the water is high dollar, interior land in some areas is still pretty cheap, but won't stay that way forever.

The Duplex lots are fairly restricted. The city seems to not really want many multifamily buildings, so they are only within a few streets of the main drag. Looking at the zoning maps I'd say maybe 3-5% of all lots in the area are multifamily. That said there is also a shortage of affordable rentals in the area.

This would be for a long term hold. The duplexes are currently going for a little more per sq/ft then the homes. Rental potential I think might be better too.

For example a 3/2 1600sq/ft home might go for $1700. A nice 2/2 duplex can go for around $1100 or more. 

I've been posting about buying some lots to develop recently and we are considering a few more options. We are looking to buy either 2 SFR lots, or we have an option for a Duplex lot now for about the same price. Both would be developed into a rental.

We have looked at existing duplexes in the area, and most need a lot of work. They are also smaller and don't command the rent of the newer ones in the area that go for a premium. 

So what's the better play here? It's obviously cheaper to build and maintain a duplex then 2 seperate homes. But the homes can sell for a bit more later on. The duplex seems safer being if one side is rented you can make your mortgage payment.

Thoughts?

So we found a lot of land that's is on the water and reasonably priced. This would be for a retirement home in maybe 10 years. Is there a way to finance this? I know most mortgage lenders want you to build on it if they lend money.

Only if you think curb appeal will help with the sale, 3 tab roofs look cheap to some. It's not much more, but you can advertise it better. Even a brand new 3 tab roof you are lucky to get 15 years or so, but architectural is a 25 to 50 year roof.

I have no answers for you, but I'd be interested in any insight the guys here give.