looking for a cheap property under 20K in safe neighborhood with long term rental potential Zip 33905

Asked by Travel_addict, Fort Myers, FL Mon Jun 15, 2009

I am looking for a decent property in For Myers. Something that needs some work and that I can renovate and rent to a family until the market turns around and I can sell at a profit. 756 Cayce lane keeps coming up...anyone have any advice please. Young and really want to get into the market

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Shinesobrigh…, Home Buyer, Englewood, FL
Mon Jan 13, 2014
I have $20,000 looking for a cheap House .
I have No family in florida .
Im all alone . And things are Hard .
Im a great Guy . 36 years old . No kids
Never married .

Help me .
Im looking in florida .
Near 34224 if possible .
Englewood florida or Port charlotte florida .

0 votes
Tsom1981, Home Buyer, Dearborn, MI
Sat Dec 1, 2012
I am looking for a house in Dearborn Michigan, Dearborn heights or Warren Michigan for 20 000 USD can you please help me.
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Debi, Home Buyer, Fort Myers, FL
Wed May 9, 2012
There is nothing "safe" about that area...
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Craf, , Ireland, IN
Mon Apr 30, 2012
You may find somethink here:
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Jaybeard, , Missouri
Tue May 18, 2010
I have to disagree. I have a friend purchasing a property there, now around 20k. There are a lot of people who limit themselves by their lack of belief. I remember listening to RE investors 6 or 7 years ago talk about some of the deals they had made. Some of them sounded unbelievable. But I always thought it was possible. So, I just kept listening. And, now I think the deals I do are even more phenomenal. I'm buying properties between 10-20k, sometimes cheaper. I buy them with little down sometimes. I never use my credit anymore. Sometimes I don't even use any of my own money. I have nearly 50 rental properties, with a goal of reaching about 100 within the year.

I don't know Fort Myers market that well myself. But I know various markets all over the country. I have come to believe the best rental properties are under $20k. I say keep your eyes open. Check craigslist, newspaper, mls, yahoo etc. The best way to find them is to drive around, though. I'd be happy to share more. I love what I do, and I love sharing it with other people. There could be numerous situations you could find a perfectly good house at that price even in higher priced markets. I once purchased a property for $4,500 that had been listed for $19k. I actually had it rented before I closed on the property. They moved in the day we closed. I did end up having to spend less than $100 on the plumbing to replace some lines that had frozen. But it's been rented off and on for several years.
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Still out there? I'm biting on this and your offer to share. I'm a skeptic as well and have read and listened to the buy-lo-and-rent/flip advocates but have not found a property yet that I didn't think was too risky. A friend of my has a few Sect 8 rentals and he's getting out. Says the money is there, but it's simply too dangerous.
Flag Sat Jul 14, 2012
Jeanine Stan…, Agent, Fort Myers, FL
Fri Jun 26, 2009
Good Morning Travel Addict!
There isn't much around 20,000 that isn't going to need a lot of work. There are a number of investors buying up the homes within that price range, therefore you have to act quickly, as they don't stay on the market long. Common sense tells me that the ones within this price range that are on the market for a long time, I would question if it's a good buy. I'd be more than happy to email you the homes within that price range as they come on the market and you can decide if it's a project that you want to take on. You are smart to want to get into the market right now. If you are truly serious about becoming a real estate investor, working with an agent that can stay on top of all the new listings as they come would be your first step. The second step is to not only check out the properties, but also the neighborhood. Most properties within this price range will be in distressed neighborhoods, so if you are willing to hang onto it for a while, you may see a return on your investment...it all depends on what you will need to invest in the property to get it up to a resellable and livable standard. I hope this helps in answering your question! If you would like to discuss this any further, be sure to give me a call or send me an email!
Jeanine Standing Bear
Sandals Realty of Fort Myers
email: jstandingbear@yahoo.com
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