John ThedfordPoster
#5 Wholesaling Contributor
#5 Wholesaling Contributor
- Real Estate Broker
- Naples, FL
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Cape Coral Rental Rates Have Topped Out
John ThedfordPoster#5 Wholesaling Contributor
#5 Wholesaling Contributor
- Real Estate Broker
- Naples, FL
Every time I had a vacancy I was able to fill it and increase rents. That appears to be over. I had two turnovers in May. I lost 21 days rent on one and a full month on the other with no rental increase. The new properties coming online are dampening the pool of renters IMO. I am leveraged at 15% LTV so no sweat if they sit vacant BUT it still results in less income.