Realtor · Columbus, OH · Member since 2016 · 7 posts · 5 votes
Looking to purchase multi family unit in or around Fort Myers florida. Would be used as vacation property. Any realtors in that area that is great with the out of state buyers wanting to purchase rentals?
The harmful blooms from the blue green algae and red tide are thankfully clearing up, at least that's what I've seen around Cape Coral. Sadly the damage is done and there needs to be a long-term solution and not more foot dragging and finger pointing. That said, there's still a strong demand for seasonal rentals in the area. With the right management, especially a company that's dialed into the European and Canadian renters, quality homes will rent, and not just in the winter months. For a less expensive approach, an owner can handle the front-end advertising and booking themselves and hire a property manager to handle check-in and check-out, cleaning and repairs. I was just out on Saturday with clients looking to buy a seasonal rental home in Cape Coral. Let me know if I can help!
What are your thoughts on the current 2 month red tide/ lake o discharge issue with blue green algae in caloosahatchee and the dead fish washing up on Fort Myers Beach? The area has lost millions in the last 2 months in canceled vacations.
@chadnagel. My thoughts are.... not great, lol. I have always loved fort Myers and wanted to start there. My research so far has been looking at homeaway.com and looking at rates and schedules. What I gathered was $38 per person per night. And strong scheduling in winter and spring months. Most larger homes were solid booked through that time. So I saw no reason to investigate that further. I appreciate your response. I see you have been doing this awhile and any advice would be appreciated. I'm a realtor in Ohio looking to invest more towards short term vacation rentals. As I wouldn't mind a vaca spot away from a slow moving cold winter
The harmful blooms from the blue green algae and red tide are thankfully clearing up, at least that's what I've seen around Cape Coral. Sadly the damage is done and there needs to be a long-term solution and not more foot dragging and finger pointing. That said, there's still a strong demand for seasonal rentals in the area. With the right management, especially a company that's dialed into the European and Canadian renters, quality homes will rent, and not just in the winter months. For a less expensive approach, an owner can handle the front-end advertising and booking themselves and hire a property manager to handle check-in and check-out, cleaning and repairs. I was just out on Saturday with clients looking to buy a seasonal rental home in Cape Coral. Let me know if I can help!
Peter's good. I won't step on his toes. I also agree with pretty much everything he's said.
Vacation rentals always have some affects from local events. Mountain cabins didn't do so well when wildfires roared through the Smokys. Sky lodge rentals don't do as well during low-snow seasons in the Berkshires. Puerto Rican vacation villas took a huge hit last year.
In short, the market at large is still doing QUITE well and most investors I know are still turning a profit even with the tide and algae issues.
Great Discussion! There are so many fun things to do in our area that I feel it will always be a desirable area. The inventory for Investors is slim pickings. I think that there is a lot of pent up demand for good investments.
@Vance Olson I always say that the deal of a lifetime is found every day but the market is at the top. Is real estate a true definition of a “market”, well not really, but inventory is very high in several coastal towns because prices are too high. If I were investing in Florida coastal towns I would research debt free properties and pay the price asked with fantastic terms. Deals are made not found!
How's the area right now? It looks like you got double luck with the red tide effect and then Michael Hurricane. I'm sure that all this is not helping and the local real estate market is affected by red tide. But it might be a good moment for investors and people looking to buy as well ... let us know how it goes.