Lehigh Acres-Investor Trap? (Ocala, Clermont: mortgage, refinance, estate)

[Nirvana-Guy]

Originally Posted by abogs

Does anyone know anything about Lehigh Acres (near Ft Meyers)? I have a realtor talking to me about investing in "affordable" housing there. He said I can get a new 2/2/2 (1000 sf@) duplex for under $300k and split them up and resell for $175K-$200K. I've heard of investor traps in FL and right now many are stuck w/ overpriced condos, etc., where the only ones making $$ are builders, realtors & lenders. I have a gut feel Lehigh Acres may be one of these traps.

Let's just say the whole fort Myers area isa big real estate/money trap. Property taxes in that area are through the roof, and insurance there will be sky high too. In case you forgot the 2004/2005 hurricane seasons seemed to aim at Fort Myers a lot of the time and the insurance companies KNOW that.

You are better off in Central or North Florida. South FL really sucks unless you are involved in something illegal OR you are independenlty wealthy.

[seminoj5]

i live in lehigh acres and have for the last ten years!its still a smaller quiet place to live..yes there have been a lot of grow houses busted lately but little crime outherwise..
if you look at the papers most of the arrests are for driving without a license..and yes there are a lot of empty houses and condos around the building craze has slowed for now. but lehigh is still a nice area

[snowbird1964]

Lehigh Acres is a rather large place. Like with most cities, there are good spots and bad spots. Before you buy in a certain area, talk with the local Sheriff and get his/her take before you invest to much attention to all the negative feed back from this website. There are some really good deals out there if you do your research and ask around. The area I just bought in is very quiet, has many friendly older folks and professional people of all ages. I can't touch property in New England for what I paid for in Lehigh Acres. Best Wishes!

[JohnVosilla]

What a change from two years ago... Just was referred this new listing on an almost 1800sf 4/2/2 2005 home for $85k.. A short sale that had once sold for $260k..amazing anyone can still think prices are heading much lower and haven't crashed enough..use this next year or so to pick up the bargains as the foreclosure tsunami continues

Lee County Property Appraiser - Online Parcel Inquiry

[hiknapster]

That's a short sale. Believe me, I know, I'm bottom feeding foreclosures right now. But nothing has hit bottom right now, and when it does, it will take a long time to go up. Too much inventory in southwest Florida.

[JohnVosilla]

Originally Posted by hiknapster

That's a short sale. Believe me, I know, I'm bottom feeding foreclosures right now. But nothing has hit bottom right now, and when it does, it will take a long time to go up. Too much inventory in southwest Florida.

Next 18-24 months is what we got to play vulture bottom feeder...new home construction is what will be in depression for a very long time so building lots will be worthless for a long time..home prices however will start moving up again quicker than anyone thinks due to our current monetary and fiscal policies..costs to construct new will be triple what they were in 2005 by the middle of next decade

[MrTudo]

Originally Posted by hiknapster

That's a short sale. Believe me, I know, I'm bottom feeding foreclosures right now. But nothing has hit bottom right now, and when it does, it will take a long time to go up. Too much inventory in southwest Florida.

I agree with you 100% although we aren't looking at foreclosures. I bought one of those before and that bad karma surrounding that house was incredible.

[hiknapster]

Originally Posted by MrTudo

I agree with you 100% although we aren't looking at foreclosures. I bought one of those before and that bad karma surrounding that house was incredible.

I agree. Every time I walk into one of those I get the bad vibes.

[ChrisA70]

Originally Posted by MrTudo

I agree with you 100% although we aren't looking at foreclosures. I bought one of those before and that bad karma surrounding that house was incredible.

Yes the ghosts of someones crushed dreams surround it...

[yachtcare]

just come up with Cape Coral's new slogan for the billboard at the CC bridge....... "Cape Coral, It's just bad vibes, bad karma, and crushed dreams"

Ahhh, I just couldnt resist......