STR in Cape Coral

[Mike Morehead]

Looking for first STR and wondering how the Cape Coral area is for this

[Jason Wray]

Mike,

Cape Coral is a great location and to be honest its gotten a lot better in terms of sale prices and vacant lots. I am here in Pinellas County just North of Cape Coral and have done many deals in and around Charlotte and Lee County. Florida had a Hurricane that shocked the area and did enough damage to scare people out of the area and insurance cost did go up but there is hope a head.

I have lived here for over 30 years and have only seen 3 hurricanes really worth talking about while the rest tend to miss us and hit center Gulf or East Coast. That being said bills are already in place to supplement more insurance companies and options. You will see prices come back down in terms of insurance but sale prices are in favor of the buyer.

Great spot for both LTR & STR with the VRBO rentals still holding strong with most places booked 3-6 month in advance. There is a Big build going on with the "Seven Islands" and when its complete it will increase the growth and appreciation in and around Cape Coral over the next 3-5 years.

If you are up in Minnesota you can always use the Vacation Home loan to only have to put 10% on any single family.