I'm researching the Cape Coral-Fort Myers-Lehigh Acres area for investment opportunities. Are there any Floridians who can provide me some insight into the these areas? Mainly multi-family units for cash flow
Multi family is a difficult play right now throughout most of the US. Lee county is no exception. You can still find some opportunities in Ft Myers but they are in some rougher areas. Cape Coral is at a 4-5 cape rate and Lehigh isn't fairing much better. I am only dealing with SFH right now.
Cape coral have a great opportunities in seasonal rentals, this is the best way to achieve a excellent ROI, near to 10%. We have a couple of new condominium projects that will fit your needs. You can contact us at any time.
I want to learn more on this area. There are still some homes priced below the median in areas close to high rated schools, and the unemployment rate is at 4.7% according to the bls.gov/eag.
Are there opportunities for positive lower Cashflow but with upside appreciation?
Good Afternoon, I work with My Realty Story, LLC in Cape Coral, FL and we specialize in property Management through out Lee County, Florida. The 1st quarter of 2016 was much slower than previously in SFH, but we are seeing a rise in investors looking into multifamily in the area. I manage multiple multifamily (8+ units) in the Cape Coral area. Occupancy for those properties are over 97% with a renewal rental increase this year of at least 25%. If you have any questions or are looking to invest in any multifamily in lee County, please feel free to contact me at any time.
Jerry Robinson - Realtor www.myrealtystory.com