Ft. Meyers Florida anyone local?

[Jims5543]

I am heading over tomorrow to look at an investment home that caught my eye on zillow.

I visited the area 2 years ago to do tourist things, like visit the Ford and Edison homes with my kid. We found the downtown area and were surprised how nice it was.

We walked away from Downtown and noticed the neighborhoods went down hill kid of fast. Which I thought was odd, such a nice downtown area should increase the values around it.

Over here in Stuart Florida, a decent home close to a very small downtown is demanding premium prices.

We did some research on the area and found a couple of houses that interest us that are about 50% what they would cost in the area I live in. (Stuart)

We have an appointment to view one of them this weekend and might set up a second one we found last night.

I feel like Ft. Meyers is way undervalued and set to take off. Of course this is based on me staying there 2 years ago and looking at RE on Zillow and reading articles on the area.

Anyone live in Cape Coral, Sanibel or areas nearby that can chime in on my hunch?

[nota]

the whole area crashed bad and only slightly has recovered recently
I would not expect a big or fast change in the short term
but 5 to 10 years out it could go up


sanibel is NOT the same deal as the mainland at all

[ckelly78z]

I'm not sure I would want to live in an area that is "set to take off". I understand buying cheap, but a booming housing industry will provide you with increasing traffic/construction in future years, and take some of the quaintness away from that area.

My BIL lives in Boyton Beach, and is a cop in DelRay...I don't know how he deals with the mass influx of NYC/New England people (including immigrants from Haiti) that seem to have no regard for the laws, and are usually in a bigger hurry than you are (pushy). I have never seen gridlock at 10:00 on a Tuseday morning like I have there...just crazy.

[Baz]

Myers......not Meyers.

I used to live there but that was a while back.

[Jims5543]

Originally Posted by Baz

Myers......not Meyers.

I used to live there but that was a while back.

I let the computer correct me and it says you are wrong.


I was told by a friend 2 years ago Ft. Myers is the not Naples area. He would not even venture into Ft. Myers.

I thought it was a cool little city 2 years ago, it appears the downtown is spreading south towards where I am looking at this house.

I will get into more detail once I am there looking around tomorrow, just looking for some local knowledge as to how folks feel about the place and where it is heading.

My plan is to make this house a Rental after a little TLC then after a couple of years make it a Home Away or Air B&B, (No HOA and area is duel use commercial residential so I should be fine) then a few years later either move into it or sell it off.

[Baz]

Pretty much the whole state of Florida has gone to hell from tourism, IMHO.

There are many areas off the beaten trail still habitable but most of the "big cities" or resort destinations have been ruined by the human race.

If you are just looking for an investment, obviously that's a horse of a different color. I think there's opportunities out there, Ft Myers included.

I was outside last night in my front yard around 10PM and it was quiet and there was a nice cool breeze blowin ' in off the ocean. Sky was beautiful and the sweet sweet scent of Crinum blooms filled the air. We have our moments.

[Pazuzu]

By "take off" you mean "fill with even more old farts", right?

We were there in the Spring, visiting family. They're in Ft Myers, we stayed in a (surprisingly nice) AirBNB in Cape Coral, and we visited Naples.

Ft Myers: Old people driving very slowly, ignoring stop signs and pedestrians.

Cape Coral: Old people in broken cars driving slowly, ignoring stop signs and pedestrians. Oh, and some random tattooed gangster types.

Naples: RICH old people driving convertible Corvettes...slowly. While running over pedestrians and ignoring stop signs. And getting the skin under their chin sunburnt because they have their freaking noses so high in the air.

I think that you would need a seriously different type of person to suddenly want to hang out at the smelly beaches (read, young, with lots of disposable money) to make that pace take off. The hard part is convincing those people that of ALL of the beach communities in Florida, Ft Myers is THE one to sink your youthful money into.

[stevej37]

Originally Posted by Pazuzu

By "take off" you mean "fill with even more old farts", right?
We were there in the Spring, visiting family. They're in Ft Myers, we stayed in a (surprisingly nice) AirBNB in Cape Coral, and we visited Naples.

Ft Myers: Old people driving very slowly, ignoring stop signs and pedestrians.

Cape Coral: Old people in broken cars driving slowly, ignoring stop signs and pedestrians. Oh, and some random tattooed gangster types.

Naples: RICH old people driving convertible Corvettes...slowly. While running over pedestrians and ignoring stop signs. And getting the skin under their chin sunburnt because they have their freaking noses so high in the air.

What's the hurry when you live in Paradise??

[Jims5543]

Originally Posted by Pazuzu

By "take off" you mean "fill with even more old farts", right?

We were there in the Spring, visiting family. They're in Ft Myers, we stayed in a (surprisingly nice) AirBNB in Cape Coral, and we visited Naples.

Ft Myers: Old people driving very slowly, ignoring stop signs and pedestrians.

Cape Coral: Old people in broken cars driving slowly, ignoring stop signs and pedestrians. Oh, and some random tattooed gangster types.

Naples: RICH old people driving convertible Corvettes...slowly. While running over pedestrians and ignoring stop signs. And getting the skin under their chin sunburnt because they have their freaking noses so high in the air.

I think that you would need a seriously different type of person to suddenly want to hang out at the smelly beaches (read, young, with lots of disposable money) to make that pace take off. The hard part is convincing those people that of ALL of the beach communities in Florida, Ft Myers is THE one to sink your youthful money into.

You just described all of Florida in the winter, even my sleepy town, Jensen Beach, turns into a stupid madhouse with stupid drivers doing all the things you describe.

You stayed in an Air BNB, would you consider a nice one 2 blocks from Downtown Ft. Myers? One where you could walk to coffee shops, Breweries, restaurants, etc.. and not have to drive unless you wanted to go to the beach?

If I decide to buy this house, which I think is off the charts cool, I will share more info. If I pass I will share more as well.

Let me just say a house like this is the kind of house I would look for when looking for an Air BNB or Home Away type of home.


I am just trying to get a feel for the area, is it taking off? I missed the boat here where I live, I feel like I found a neat opportunity.

Hell, I like this house a lot, it has a 3 car garage out back right up my alley. I could see myself living in it in 7-10 years from now once I am done with renting it out.

[Bob Kontak]

Originally Posted by Pazuzu

Naples: RICH old people driving convertible Corvettes...slowly. While running over pedestrians and ignoring stop signs. And getting the skin under their chin sunburnt because they have their freaking noses so high in the air.

Marco Island from my trip there: Fairly well to do old people. Healthy looking old people behind the registers at stores and working in eateries. Old people. Lots. If not for the beach it would be death if under 70 and you were not into shuffle board.

Lizards on the sidewalks.....like a boss. Just saying. Beware. None of that shiet in northern Ohio. Gila Monsters I think they call them. They were inches long.

Collier Museum in Ft Myers. Not open to public but if you are there you can figure out an event to attend for getting in.

[csapp05]

Originally Posted by Bob Kontak

Collier Museum in Ft Myers. Not open to public but if you are there you can figure out an event to attend for getting in.

Renamed the Revs Institute, it’s off Horseshoe Dr in Naples. Now open to the public, reserve tickets are recommended, they really try to keep the atmosphere quiet!

https://revsinstitute.org/exhibits/

100% must see and do!

[Jims5543]

Just got home from spending an evening in downtown Ft. Myers and can say I am loving that little city.

We walked about 10 miles yesterday walking all over the city checking out every street we could.

Our hotel (Indigo) was in the middle of the downtown area.

The brick area in the middle of this pic is a courtyard with a few restaurants, bars and nightclubs surrounding it. There was a stage in there with a blues band playing. They were really good. The 15 yo was tired at 9 and was sick of being out and about. We walked him back to the hotel room then went out for some drinks, listen to the band and bar hop a little.




The crowds.. I would say a good mix of people, I saw lots and lots of people from all age groups. The clubs had lines of 20 somethings heading in. The cool bar we headed into was called 10 Twenty Five had all kinds of folks in it. We ended up chatting with a guy who owns a tattoo studio sitting next to us.


This was the bar we were in.
https://www.yelp.com/biz/10-twenty-five-fort-myers.


This is the blues band in the courtyard.




If Ft. Myers was the land of old farts, me missed them the crowd we saw was pretty young and ready to party. The downtown area is loaded with bars, clubs and restaurants.



Earlier we found this restaurant for dinner, it was just what we like, unassuming on the outside, with a come as you are atmosphere. The food was off the charts good.

https://www.yelp.com/biz/kings-kitchen-fort-myers


The manager who was working that night was so nice. He sat at our table with us, went over the menu and chatted with us. We ended up talking to him quite a bit as the night progressed and we were one of 2 tables left. He retired as a VP with Bank of America in 2008 in his early 40's. He takes a lot of vacations and will be running around new england for a month starting next week.

We talked about how he got into banking. Were telling him how good our 15 y/o is with Math and science. Our son is really shy so he did not like being discussed. The manager picked up on that. When we were leaving the manager said to him "Hey Kid, do not be bashful about being smart, get a degree and get out there and rule the world, the geeks run the show, remember that. No one will tease you when you are making 500K a year and driving a nice Porsche." He got a smile out of my son.

Anyway, Kings Kitchen is off the charts great gourmet food in a non pretentious atmosphere. They had an option on the menu to buy the kitchen a round of beers after work for $6. I know they probably drink for free, it is the gesture that counts. Whenever I see that I always do it.

We walked from the hotel to the house for sale this morning, it was a 12 minute walk from downtown.

We have a lot of thinking to do now, we really feel like we need to do this. The area the house is in is going through a renaissance. The city slated a ton of money to rejuvenate the neighborhood this house is in. It is a historic neighborhood, the house we are looking at was built in 1910.

We can get a really good deal on this house and the seller is motivated to make a deal.

The grandson is living in the house, the grandparents moved out and into a condo as they are too old to take care of the house anymore. The grandson is very interested in renting out the house. We are sill unsure on that one. We have a lot to mill over, I am not keen on being a landlord.

The house shows signs of neglect and will need a lot of work. This is what makes us hesitate. We think it would make a fantastic Air BNB. it is 3 bedrooms and 2 baths. As I said a 10 minute walk to downtown and the walk is nice and safe. We did it 3 times to see what the hood was like at different times of the day and it was always nice.

[dmcummins]

We live 30 miles north in Punta Gorda. We moved here 5 years ago and it seems like everywhere is growing. We looked at Fort Myers, but being unfamiliar with the town and it’s size we chose a smaller city. But we do visit it quite a bit.

Hopefully things will work out for you.

[ckelly78z]

It sounds like you had fun, but certainly not the place I would like...not into the bar scene/nightlife, or congestion of an inner city. I understand that I am a bit of a stick in the mud that prefers my 10 acre farm over fabulous, crowded entertainment.

[Jims5543]

We are more foodies than bar scene types. We like a good restaurant and an nice area to walk around before and after dinner. The house we are looking at is a half mile from the center of downtown. It is a nice 10-15 minute walk over. Once back in the hood where the house is, it is nice a quiet.

I snapped a couple of pics of the downtown area as we were leaving yesterday.







Some mid teen girls were running around putting these posters up. We got a chuckle out of it.




This is a new waterfront hotel being built and will have a large convention center, something the city does not have. The city was pretty excited this was opening soon. Pics taken from our hotel rooftop bar.

[tevake]

That is a nice looking downtown district Jim! I can see why you find it attractive.

One thing you can research is the ocupency of the Vaca rentals, vrbo lets you see the year around calendars of properties listed. This will give you some insight as to rates and percentage of occupancy year around.

I would be wondering about managing the repairs/ remoddeling from a distance.
I guess it's not too far from home to be able to get over there regularly?

Sounds like a prospect you are excited about, keep us posted on any progress.

Cheers Richard

[john70t]

Sarasota downtown is booming. The construction and traffic has turned everything into NYC.
No parking, always lines, and prices only go up. Drivers tailgate and race to the next red light.
It's a madhouse, not a vacation.

Do you plan on selling to high rise builders in 10 years?
The economy could change but the 'off the beaten path' areas near nature areas will stay quiet.

[Jims5543]

Originally Posted by john70t

Sarasota downtown is booming. The construction and traffic has turned everything into NYC.
No parking, always lines, and prices only go up. Drivers tailgate and race to the next red light.
It's a madhouse, not a vacation.

Do you plan on selling to high rise builders in 10 years?
The economy could change but the 'off the beaten path' areas near nature areas will stay quiet.

No hi rise allowed in the area the house is in, 3 stories max.

Gardner's Park is a historic neighborhood just east of Downtown Fort Myers, Florida, that offers a charming mix of upscale retail shops, eateries, art galleries and historic attractions. Shop for hand-crafted jewelry or the perfect vintage linens to adorn a holiday table, finishing up with high tea served with locally grown, organic food. The area has a rich history, starting off as a former guava plantation by the Reverend William Gardner when he arrived in Fort Myers in 1895. In deference to the many contributions the storied Gardner family made to Fort Myers over the years, the community is aptly named "Gardner's Park. Reverend Gardner not only helped establish the first newspaper and cemetery in Fort Myers, he was also one of the area's biggest employers while running his guava canning company. Gardner helped stimulate the local economy by paying locals for the guavas, in addition to hiring more than 50 workers to make his renowned jellies and preserves. As part of the service to the city he loved, Gardner went on to become Fort Myers' second mayor.

The Gardner's Park area first garnered notice as a shopping destination when The Butterfly Estates opened in January 2009. Combining a 3600 sf glass butterfly conservatory with a number of green-friendly shops and a cafe, the Butterfly Estates has continued to invest in new shops and its latest food venture, the sumptuous Z Crepes. Gardner Park is also home to the Burroughs Home and Gardens. Set among lush gardens and majestic oaks, the Burroughs Home is a Georgian Revival mansion built in 1901 that played host to Fort Myers elite, including the Edisons, Fords, and Firestones. Today the home is open to visitors and frequently rented out as a scenic backdrop for parties and weddings.

While Gardner's Park is largely a commercial area spanning Fowler and Hough Street, this may change in the near future. Fort Myers officials have announced plans to invest in better drainage and street lighting as well as a shared parking lot to further revitalize the area. The plan also includes initiatives to further expand the area into a garden arts district with residential living space above the small shops and art studios lining the streets. The area's strong sense of community and history bodes well for a vibrant future.

[dmcummins]

So your closer to the Edison house than the beach.

[Jims5543]

Yes, no where near the beach. This is right outside the center of downtown Ft. Myers.

You can walk to the Edison house from the neighborhood we are looking in, it would be about a 1 mile walk.

I am wresting with the 1910 home, it was very neglected and will need a lot of TLC to make nice. It may be too much for us to make sense out of, OR we will kick ourselves 5 years from now for letting this opportunity go past us. Which is my typical operating mode.

I get scared, stay in my little comfort bubble, never take chances and then cry when a chance I passed up would have been a great move.

Like not buying up $5K in Amazon stock in 2010 at $130 a share. I had just joined Prime and was impressed, I was going to buy 5K in stock and chickened out. That was a $60K mistake.

OR

Not buying up houses 1 town north of me in 2010 for 60K a pop. I could have purchased 2-3 of them, made them all rentals and could be selling them all now for 200+K each right now. I got scared then too.

I am pretty sure I can grab this house for under 200K it is a 3 bed 2 bath 3 car garage home. It will easily need over 100K in renovations especially if we pay contractors for some of it. Which we plan on doing. The seller is motivated to make a deal now, I could buy and immediately rent it to the grandson to cover the mortgage for now and start working on the outside.

Then after a year or so start up on the inside, it needs new bathrooms and a new kitchen. The flooring is mostly original except there are some places where they put down laminate over the wood floor which is puzzling and makes me nervous.

We are really wresting with this one, we both feel like it is a good move just do not want a money pit.