My New Blog

I'm back from Florida
February 12th, 2008 7:03 PM
After being in Florida I have come to two conclusions. I like the weather and the ocean in Florida. In real estate, unless I was working foreclosures and short sales, it is great to be an Oklahoma Realtor. I was in another CCIM commercial real estate class in the Fort Myers, Cape Coral area. The good news is that I stayed on Sanibel island on the beach. The bad news is that this area has a 4 year supply of single family homes, and with the new condos coming on the market, a six year supply of condos. A realtor from Miami said that her market should hit a ten year supply this year. Cape Coral was selling off at a 40% drop in one year. However, Florida is not a complete disaster. I spent a day in Palm Beach and the Donald Trumps of the world have a great life. The most important part of the stay was the education. I have finished three CCIM classes and I have one more in April, then I take the final in october. Since I have been involved with ICG starting in 2004, it has been important to me to be able to make better deals for my investors, and to know the minute details of investment real estate. I want to keep getting better and better for you. I am also aggressively buying real estate this year. I currently have a strip center, a retail condo, a single family home, and a residential condo in East Village under contract closing at the end of the month. With two partners I have found a commercial GO Zone area that is hot in Louisiana. After the Baton Rouge Realtor over saturated that market my taste for residential in the GO Zone wanned. I will share my commercial experience after it is done. I am working with a CCIM Commercial Realtor who knows the GO Zone and has integrity. I have lots to share with investors and I have some great deals coming to the march 1st ICG meeting. We have 14 East Village units leased that are not sold, and we are going to offer fully furnished units at no extra cost that are not leased. We have found that furnished units can increase the rents a minimum of $100 a month. FYI, the Sanibel Inn was a gem. It is reasonable, on the ocean, and Ellington's Restaurant has great jazz. We saw David "Fathead" Newman there who was at one time Ray Charles' band leader. Sometimes Dave Brubeck who lives on the island comes in to jam. Hope to see you in SF! 

Posted by Joe Pryor on February 12th, 2008 7:03 PMPost a Comment (0)

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