All Forum Posts by: TJ Burns

My builder sent me a document that states the following:

Application_NewConstructionResidential_CapeCoral:
"The following fees may be placed on new construction and addition building permits:• ALS IMPACT
• POLICE IMPACT
• ROAD IMPCAT
• FIRE IMPACT
• PARK IMPACT
• SCHOOL IMPACT
• SCHOOL ADMIN
• UTILITY FEES
• FIRE DEPT FEE (for plan review and inspections)
• BUILDING PERMIT FEE " 

Based on the Cape Coral online calculator, these fees could total up to $10K. Does anyone have experience with these fees? I'm wondering if they are usually all included in the permit process for new construction, or if I should expect to pay any of them in the future, similar to a tax bill.

Thanks in advance!

@Danny Gallagher I see you're from Shoreham, I grew up only a few towns away in Mt. Sinai. 

I'm currently buying in Cape Coral, but I'm fairly new to this area. I don't have any AirBnB units, but if I did then I would try and get something with gulf access. Which isn't too hard, since Cape Coral has a couple hundred miles of canals.

@Peter Davis Just sent you a message, thanks!

@Alvin Taveras I started out looking in my home market of Long Island, NY, but figured out pretty quickly that it didn't make sense from a long term point of view for a number of reasons, namely the tenant-friendly laws, mass exodus due to high COL & taxes, and low returns. SWFL is a much better spot. Looking forward to connecting with you.

@John Thedford That is a killer. The property I just purchased is located in Zone North 6, which I have been told is at least 10 years away from requiring the assessment. Is this an accurate timeline, or should I assume will come up much sooner? 

Hello BP-

I recently purchased a SFR in Cape Coral, and I'm looking to connect with local investors and agents in the area. BP members- Who is actively investing in Cape Coral at the moment?

More about me:

-I live and work in New York, but prefer to invest in FL because of the better cash flow and positive economic trends in the area.

-My short term goal is to acquire a Cape Coral duplex sometime in early 2021, and longer term I'd like to get to 10 units within the next year.

I'm also looking for an investor-recommended agent that works in the area and would appreciate any recommendations.

Hi Colin, 

I'm not an investor in Long Beach, but I grew up on Long Island and my girlfriend was a former teacher at Long Beach Public schools. Here's what we know:

-There's only a few bridges to get in and out of Long Beach, which means that traffic gets really bad during rush hour. The train is a great way to get in and out of Long Beach, and I know a number of people who do the hour commute into downtown. 

-I would think that rentals closer to the train station would attract higher quality tenants that work in the city. Long Beach is a mix of working class people and 'young professionals' that enjoy the beach and bars there. 

-Definitely be careful about what you buy in terms of water damage and foundation issues. I volunteered in the area after Sandy witnessed a lot of completely flooded houses. Since then, a lot of homeowners have begun raising the foundations, and if you can you may want to buy one that is already raised and less susceptible to future storms.

Overall I've noticed trends of younger people looking to rent in Long Beach and would think it is a good place to buy.