So you wanna get started investing in Fort Myers and you’re checking things out, eh?
Good for you. Always do your homework and you won’t get schooled.
Here’s some great tools that we’ve found and we use from time to time and great real estate investing resources in Fort Myers for investors here locally to tap into for quick research on your investment deals.
The best thing is most of these sites below are completely free!
Here’s a few sites you should get to know:
1. Zillow
Zillow is the biggest, baddest real estate website on the block. They are building data on real estate wealth like few other sites.
The CEO of Zillow, Spencer Rascoff, said their company’s best asset was their “living database of all homes”.
The Zestimate tool is off, as a lot of folks have noted. It’s fun to see what the computer calculates, but you still gotta know how to analyze the comps and evaluate the market for yourself.
Delve into Zillow and become an expert on the recently sold properties in your target neighborhoods. Don’t just skim listing prices; dive into the details. Look for patterns in the final sale price compared to the original asking price. Was there a bidding war that pushed the price above market value? Did the property have unique features that justified a premium? Conversely, were there aspects that led to price reductions – lingering repairs, outdated finishes, or a longer time on the market?
By analyzing these details, you can start to understand the psychology behind the pricing decisions. Why did the seller decide to list at a certain point? Were they hoping for a quick sale or aiming high to negotiate? Why did the buyer ultimately agree to that price? Did it represent a good value for the features, or were they emotionally attached to the property? The more you understand these motivations, the better you can position yourself in your own transactions. You’ll be able to advise sellers on realistic listing prices that attract qualified buyers and guide buyers towards properties that fit their budget and priorities.
Remember, each sale is like a tiny piece of a moving puzzle that makes up the whole market.
Zillow is an awesome tool for investors to get to know their markets.
2. Craiglist
Craigslist is an awesome site. There’s huge deals there, if you spend the time on the site. People write terrible ads for great properties. Happens every hour of every day across FLORIDA. Sometimes the best properties only get one terrible ad. So you’ve got to scour.
3. LoopNet
LoopNet is the granddaddy of commercial real estate investing.
You wanna sell a gigantic freakin building to institutional investors, this is the site you want to list it on.
LoopNet can be a goldmine for savvy commercial real estate investors, offering a vast pool of properties for sale and lease. However, the competition on the platform can be fierce. Unlike residential real estate, where deals might fly under the radar, commercial properties listed on LoopNet are exposed to a much wider audience. This includes experienced investors and institutional buyers, all vying for the best opportunities.
Therefore, success on LoopNet requires more than just finding a good listing. To truly stand out, you’ll need a strategic edge. This could involve partnering with a top broker who has experience navigating the LoopNet landscape and understanding how to position your offer competitively. They can help you identify properties with hidden value, craft compelling bids, and potentially secure deals before they even hit the open market. Ultimately, LoopNet is a powerful tool, but effective utilization often hinges on expertise and a well-honed strategy.
LoopNet is a great place to learn about the market in Fort Myers and see how the major money is moving. You’ll be surprised what you can learn, so start searching through the properties for sale and watching where they close.
4. Auction.com
Just like its name suggests, Auction.com is a big clearinghouse of auctions, — foreclosures, REOs, short sales, distressed properties, land, new construction — you name it, they probably sell it.
Definitely check out the auction calendar, and make a trip to visit some Fort Myers auctions. You never know who you might meet at an auction – maybe your future business partner?
5. Realtor.com
The largest place to search the MLS (multiple listing service), Realtor.com is sometimes confusing and often doesn’t seem consistent with what data it displays.
But it’s got some neat search alerts and other tools that help you get alerted when a broker in your neighborhood has added a listing. If you’re serious about investing, you probably want to form a good relationship with an excellent Realtor, rather than just the website.
6. Walkscore
Most investors overlook Walkscore.com – a big mistake.
Walkscore tells you a ton about any given address. It tells you how a potential renter or buyer will evaluate it – what’s nearby and how long it takes to access.
It’s also a fantastic tool to target areas that are underpriced for their amenities. If an area has a really high walkscore and low prices, chances are good that prices will rise in the next few years. There’s big exceptions – but walkability is a really key factor in Fort Myers investment.
Those tools will help you to understand the Fort Myers area market, if you take the time to use them. Do your homework, and understand the market before you start dumping your hard-earned money into a property.
You can always give us a call 239-360-3176 – we love to partner up with investors, and we’ve got great terms.
If you’re looking to access to local Fort Myers investment properties, great!