Tampa vs. Cape Coral

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Tampa vs. Cape Coral

Matt Sora
Member since 2021 · 77 posts · 19 votes

For new Real Estate investors would you say Tampa or Cape Coral would be a better place to start building a portfolio?

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Nick C.
Investor · Tampa, FL · Member since 2011 · 2k+ posts · 3k+ votes
3y

The Realtors in Tampa are telling you Tampa. The Realtors in Cape Coral are telling you Cape Coral. 

And the guy from Cleveland is telling you how overpriced Florida is. 

Every area has pros and cons, take all this advice with a grain of salt. 

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  • Blake Novotney
    Real Estate Agent · Wilmington, NC · Member since 2021 · 166 posts · 116 votes
    3y

    I used to live in St Pete, I think that could be even better than Tampa for STR, considering the proximity of beaches. I personally like Tampa/St Pete area for the downtowns, colleges, beaches etc. but that's just me. What strategy are you looking to do?

    0Reply
  • Yvonne Gallegos
    Realtor · Fort myers · Member since 2021 · 33 posts · 25 votes
    3y

    @Matt Sora over all the market in Cape Coral I would say is going to be better to find deals as inventory is up to around pre pandemic levels with an absorption rate around 3.5 months and in north Cape Coral closer to 4 months. So more options to choose from and motivated sellers. Different strategies work in the area so whether you plan for short term, seasonal or an annual rental the options are there. 

    2Reply
  • Kevin Bartlett
    Realtor · Member since 2023 · 177 posts · 41 votes
    3y

    Would totally recommend Cape Coral. Shoot me a message and would gladly help you out with your questions

    0Reply
  • Adrian Castillo
    Real Estate Consultant · Brandon, FL · Member since 2015 · 66 posts · 27 votes
    3y
    Quote from @Matt Sora:

    For new Real Estate investors would you say Tampa or Cape Coral would be a better place to start building a portfolio?


     I will ask what's your goal on CASH ON CASH RETURN? 

    0Reply
  • Griffin Pratt
    Wholesaler · St. Augustine, FL · Member since 2022 · 36 posts · 24 votes
    3y
    Quote from @Blake Novotney:

    I used to live in St Pete, I think that could be even better than Tampa for STR, considering the proximity of beaches. I personally like Tampa/St Pete area for the downtowns, colleges, beaches etc. but that's just me. What strategy are you looking to do?

    @Matt Sora, beware of STR regulations in St. Pete/Pinellas County. There are ways around it but technically, you cannot rent to short term tenants/guests of less than a month more than 4x a year. Because of these regulations, an STR may make more sense in the other locations mentioned, Tampa (Hillsborough County) being my recommendation for STR. Pinellas can, however, be a good option for mid to long-term investments. Just be sure to take the time to learn the submarkets and know what/where to buy.

    1Reply
  • Michael Haynes
    Investor · Tampa, FL · Member since 2016 · 681 posts · 288 votes
    3y

    Hello Matt Sora, It would help to know where you live and if you are familiar with Tampa or Cape Coral. Somebody in California will not have any idea of the mess that Florida is turning into with the increasing cost of Home Owner's Insurance and the requirement to have Flood. When you think of Tampa you should get familiar with the whole of Tampa Bay, including St. Petersburg and Clearwater. As you can see, everybody is thinking STR's. You know why? Because they know that Buying Single Rental Houses does not make any Money. One thing that no one ever considers is the Weather. Do you know the only City in the whole Gulf of Mexico that has never been wiped out by a Hurricane? It's not Cape Coral. So, look before you leap! Plug in the PITI etc. and really add up your numbers to see what it costs to own a property today in Florida. There are youtube videos of retired people who just moved down here and bought a Home who have put the Home up For Sale to move out of State because of the new, rising costs, especially in the Flood Zones.

    2Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    3y
    Quote from @Matt Sora:

    For new Real Estate investors would you say Tampa or Cape Coral would be a better place to start building a portfolio?


     Neither, both areas are overpriced as is 90% of FL . Also the Cape I know builders and have a colleague that owns about 50 mill in RE there are telling me to NOT buy as they see a correction coming .

    Tampa, well also overpriced, Are you cash and wanting rentals? Those two are NOT the place to buy. for now anyway

    I know the markets from Ft Myers - Tarpon Springs, and Miami - St Augustine, I live on the beach in Jensen, 

    1Reply
  • Stetson MillerBusiness Member
    Real Estate Broker · Fort Myers, FL · Member since 2019 · 576 posts · 423 votes
    3y

    @Matt Sora This would completely depend on your strategy and price point, as both of these markets offer unique opportunities in each of these categories. Cape Coral tends to be much better optimized as an STR market over LTR, but if it was specifically LTR's that you're looking for, Lehigh Acres is another local market that offers cash flowing B class multifamily properties

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  • Adam BartomeoBusiness Member
    Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
    3y

    Cape Coral, no question. Our city is growing in leaps and bounds! If you could get into any major metro at the bottom floor would you? Cape Coral is the place to be!

    [email protected]239-339-3969
    Bartomeo Property Management4.7150 Reviews
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    2Reply
  • Lucie Tighe
    Property Manager · Tampa, FL · Member since 2022 · 147 posts · 66 votes
    3y

    I'd say Tampa. Overprized sure. Still good deals can be found and money to be made with ton of traffic flowing into this area. 

    0Reply
  • Joe R.
    Investor · Cape Coral, FL · Member since 2017 · 39 posts · 35 votes
    3y

    Interesting points of view on this forum.  I foresee long term value in Cape Coral, and the greater Lee County area for short term rentals, building residential housing, and the commercial opportunities that grow with population inflows.  I think Tampa will be fine for the long term also, I just prefer the Cape/Lee County as a place to put money to work.     

    Over in Lehigh Acres, Lennar is offering new homes for $315K -- a 3Bed, 2Bath Ranch with tile floors, stone counters, vaulted ceilings in the living area, a garage, on a 1/4 acre.  Where I'm from originally, this price tag ($315K), is the entrance price for a fixer upper home that will need extensive work after purchasing the asset.   While I respect expert locals that have been following the local Lee County market, I do think value is based on relative attractiveness in the eye of the beholder.  Its no surprise that out of state folks, retirees looking for residency and a 2nd home, etc., will continue to purchase said homes based on the lack of affordable options out there.  

    Cape Corals' long term plan is pretty exciting for existing residents and new transplants, I'm looking forward to being a part of the transformation.  
       

    1Reply
  • Nick C.
    Investor · Tampa, FL · Member since 2011 · 2k+ posts · 3k+ votes
    3y

    The Realtors in Tampa are telling you Tampa. The Realtors in Cape Coral are telling you Cape Coral. 

    And the guy from Cleveland is telling you how overpriced Florida is. 

    Every area has pros and cons, take all this advice with a grain of salt. 

    6Reply
  • Adam BartomeoBusiness Member
    Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
    3y

    You can definitely find some good deals in Tampa due to the age of the city. You can find a lot of value-add properties. You have to be careful when buying because there are big differences in neighborhoods. Tampa is becoming a big city and has lots of culture. I prefer in investing in Cape Coral because it is an up-and-coming city that has plenty of room for growth. Cape Coral is a brand new city in comparison to Tampa and with that comes new infrastructure and easy growth.

    [email protected]239-339-3969
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    1Reply
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