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Investment Properties in Lee County : Real Estate Advice

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  • Local Info1
  • Home Buying12
  • Home Selling0
  • Market Conditions2

Activity 30
MCM_STL, Home Buyer in Saint Louis, MO
Wed Jul 6, 2016
MCM_STL answered:
Is it just a standard sale? If so and he's willing to pay the market price, I can't imagine what would stop you.
0 votes 1 answer Share Flag
Dee Pietrzak, Home Buyer in Champaign, IL
Thu May 19, 2016
Dee Pietrzak asked:
Jon Payne, Home Buyer in Fort Myers, FL
Sat Apr 30, 2016
Jon Payne asked:
Rocco Fording, Both Buyer and Seller in Orlando, FL
Thu Aug 20, 2015
Rocco Fording answered:
Check out this guide to help you make a US property purchase:


http://www.knightsbridgefx.com/guide-for-canadians-making-u-s-property-purchases/
0 votes 3 answers Share Flag
Bill Cook, Real Estate Pro in Manhattan Beach, CA
Thu Aug 6, 2015
Bill Cook answered:
I know of a few lenders, including where I work that do short sales and foreclsoures from 1 day after to 1 year. Rates will be around 2-3 % higher than the best rates though.
0 votes 15 answers Share Flag
Angela Petri…, Real Estate Pro in Cape Coral, FL
Mon Apr 27, 2015
Angela Petrick answered:
Yes, I would check with a mortgage broker. I have an awesome contact here is Cape Coral if you'd like me to pass you the info! Let me know!
0 votes 2 answers Share Flag
Jennifer Fer…, Real Estate Pro in Fort Myers, FL
Wed Mar 25, 2015
Jennifer Ferri answered:
I am not a realtor, however I can tell you that there are probably not many places in the southwest area in that price range that will not need fixing up. Good luck in your venture!
0 votes 1 answer Share Flag
Beverly Howe, Real Estate Pro in Naples, FL
Mon Mar 2, 2015
Beverly Howe answered:
If you look at the closed sales and current listings in your condominium development you might see the prices seem to be going down. There are a couple of pending sales at higher prices than the current closed sales or active listings.

There are still foreclosures and short sales which are impacting the overall property values. Perhaps because of panic selling by some owners who may not have been able to handle the assessment for repairs.

If you could get your neighbors to stop short selling, the foreclosures would probably stop. And your property values would increase. All the resent foreclosure sales have been from failed short sales.

You have a property in a well established and popular community in Estero. The community appeals to all ages and offers many amenities with some of the lowest fees in the area. You have a good investment if you can hang on thru the repairs and foreclosures. There are very few communities which are still clearing out via short sales and foreclosures. Yours happens to be one them, probably because of the repair assessments. At least your not dealing with Chinese Drywall which is a problem for several Estero condominium communities.

It looks like someone is getting ready to put a 2 bedroom on the market for $100,000. Because I am a REALTOR® I can see there is currently a property in the MLS which is withdrawn. The comments say they are waiting for photos. The property may not appraise for a buyer getting a loan, because of the short sales which became foreclosures. However, there are plenty of cash buyers in Southwest Florida and not very many decent properties in good locations in a $100,000 price range.

It is my opinion that condominium associations should have to keep a reserve to help homeowner's who can not handle larger assessments. It is heart breaking to see an older person or someone temporarily unemployed loose a property because work needs to be done which there are no reserves to cover the cost. If the association could finance the assessments for senior owners or temporarily finance the assessment for unemployed owners every ones properties values would be more secure and there would be less distress sales.


On my informative homepage www.FloridaBuyerBroker.com you will learn about:

The #1 Mistake Real Estate Buyers Make

21 Critical Mistakes Buyers Make

20 Things the Listing Agent Does Not Tell You about Short Sales

Short Sale Fraud

Foreclosures - the Wild West of Real Estate

Unrealistic Buyer Expectations

Buyer Beware

Toxic Chinese Drywall

Link to the REALTOR® data base system to search homes in Collier and Lee counties.

I have been licensed to sell real estate in Southwest Florida since 1981. In 1993 I decided to become an Exclusive Buyer Broker. In 1998 I opened my own exclusive buyer broker firm.

I am friendly and easy to talk too.

When you are getting ready to make one of the most significant investments of your life, ask Beverly Howe first!

Beverly Howe, CIPS, ABR, GRI, TRC, CNE, EBA, SRES, ACCRS
Florida Buyer Broker
Owner - Exclusive Buyer Broker
Certified Negotiation Expert
1031 Exchange Specialist
Certified International Property Specialist
Accredited Buyer’s Representative
Graduate of the REALTOR® Institute
Email: broker@floridabuyerbroker.com
Local Direct: 239-269-2766
Toll Free: 1-800-283-7393
... more
0 votes 2 answers Share Flag
Terry Mell, Real Estate Pro in Cape Coral, FL
Thu Oct 30, 2014
Terry Mell answered:
Each HOA is set up individually and have their own set of documents and budgets that would include amenities that the developer and the owners agreed upon. Unfortunately, I'm not aware of one place to call for an answer for all associations, you would do best by reviewing the associations documents. ... more
0 votes 5 answers Share Flag
Randy and Vi…, Real Estate Pro in Punta Gorda, FL
Tue Sep 23, 2014
Randy and Vicki Biehl answered:
There is not much demand for lots in SW Florida unless they are on water frontage or golf courses, that goes especially in Leigh Acres. Lots are dirt cheap there.
0 votes 2 answers Share Flag
Birgit Moenk…, Real Estate Pro in Cape Coral, FL
Mon Sep 15, 2014
Birgit Moenkemoeller answered:
I work with investors for foreclosures, tax deed sales and auctions.Not sure what your needs are so please contact me direct.
Birgit Moenkemoeller Century21 Birchwood International
0 votes 1 answer Share Flag
Tanya Aldrid…, Real Estate Pro in Cape Coral, FL
Thu Mar 27, 2014
Tanya Aldridge answered:
Andrea, I will be able to help you!

We go strictly by Fannie Mae guidelines, no lender overlays
Allowed up to 20 investment properties.

Contact me today for more information.

Tanya Aldridge
Sr. Loan Originator
Paramount Residential Mortgage
NMLS 881332
239-672-6244
Tanya@bestmortgageloan.net
... more
0 votes 2 answers Share Flag
Terry McCarl…, Real Estate Pro in Cape Coral, FL
Mon Feb 17, 2014
Terry McCarley answered:
In my opinion, not enough to cover the expense. When you sell the property reality is the home is still a wood frame home and that is how insurance companies will view it.
0 votes 3 answers Share Flag
Sarah Garrett, Real Estate Pro in Fort Myers, FL
Fri Jan 31, 2014
Sarah Garrett answered:
Hello,
The best investment area right now is still Lehigh Acres for investors that are looking to rent.. IE: duplex will rent for $750-850 per side if you have 3/2 and garage (1-2 cars). A single family home will bring $875 - $1000. Looks like the duplex is the advantage.
Any other area will cost you $10K-30K more for purchase of a duplex or single family home. Hope this helps you. I will look forward to the opportunity to help you.

Sarah Garrett, Realtor
ALLIANCE REALTY GROUP
"Chosen Best in Client Satisfaction 2006-2013"
Cell: 239-464-8620
Email: sarahgarrett@argfl.com
Web Access to MLS:
... more
0 votes 4 answers Share Flag
Ronald Wolch…, Real Estate Pro in Fort Myers, FL
Wed Jan 22, 2014
Ronald Wolchesky answered:
Susan

If you have not, interview and hire a realtor. They be more than happy to set you up and work with you and provide you with your needs. The cost is great for you... it is free, and you will have less headaches. The Seller will pay the agents fees. Never work with a listing agent, they represent the seller so be careful what you say because that information will be relay to the seller. This is endanger your chances in getting a good price on the property.

If I can be of any help, please do not hesitate to contact me.

you may see my commitment to the real estate business here > http://realtorronw.com

Good luck

Ronald Wolchesky
... more
0 votes 8 answers Share Flag
Carmelo Burg…, Real Estate Pro in Cape Coral, FL
Tue Dec 24, 2013
Carmelo Burgos Jr. answered:
You are better off asking the local sheriff's department for any statistics they may have - if not, they are better equipped to direct you to where you can get this question answered


Carmelo Burgos Jr.
RE/MAX Realty Team
cbjreal@gmail.com
... more
0 votes 2 answers Share Flag
Peggy Wagner-…, Real Estate Pro in Naples, FL
Fri Oct 11, 2013
Peggy Wagner- Brandon Hatton answered:
I see you already have your answer, but you should not need to refile that with the tax appraiser if the title was not transferred.
0 votes 4 answers Share Flag
Jason Lipsher, Real Estate Pro in Fort Myers, FL
Mon Aug 12, 2013
Jason Lipsher answered:
If you are looking for investment properties, please feel free to contact me with your real estate needs.

Jason Lipsher
(239) 850-0466
jasonl@thecozzateam.com
0 votes 6 answers Share Flag
andre arensm…, Real Estate Pro in Sanibel, FL
Sun Aug 4, 2013
andre arensman answered:
In general terms, you can find condos that give you about a 10% gross return on investment. After deducting property taxes, utilities, condo fees and rental fees, you might be able to find properties that yield 4-5% net return (depending on your personal tax situation) on a cash investment. Many condos on Sanibel and Captiva are priced at levels comparable to the late 1990's!!! But prices are going up again though, with an ever shrinking inventory. In addition to your rental income, real estate appreciation on Sanibel has historically outperformed the S&P500 and appreciation certainly has come into play again. We have started a new UP-SLOPE, and this will probably continue for years to come. On a final remark, short sales and bank-owned properties on Sanibel and Captiva are few and far between these days. In order to get a great deal, you need to be ready to move quick and work with an agent that will be able to identify prime properties the minute they hit the market.
To answer William's question, how can you optimize your rental income. You have to be active on-line. Make sure your properties are prominently displayed on websites like homeaway.com and vrbo.com Use GREAT looking pictures, one picture tells more than 1,000 words Make sure your condo appeals to most people, so your condo needs to have all modern conveniences people are looking for like flat screen TVs, modern kitchen and bathrooms and nice looking furniture. The 1980's pastel colored wicker couches don't work anymore in 2013! That sound logical, yet you'll be amazed how many of those I still see almost every day.... as well as bulky old TVs with VHS players (I'm not making this up). If you can't find a condo in prime condition, you might want to think about buying a condo in a great rental complex like Pointe Santo that needs remodeling. There are MANY tradesmen locally that specialize in remodeling. A full remodel of an average 2/2 condo on Sanibel will run about $80,000. With full remodel I mean everything new from the drywalls in. So new kitchen, new bathroooms, new appliances, new flooring and fresh paint. Add some crown molding, get rid of the drop-down kitchen ceiling. If you're up for this, I personally think that you will have a better chance of finding what you're looking for at a lower overall cost.
... more
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