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Updated over 6 years ago on . Most recent reply
#5 Wholesaling Contributor
- Real Estate Broker
- Naples, FL
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Cape Coral Rental Rates Have Topped Out
#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.
Most Popular Reply
#5 Wholesaling Contributor
- Real Estate Broker
- Naples, FL
- 6,552
- Votes |
- 9,365
- Posts
#5 Wholesaling Contributor
- Real Estate Broker
- Naples, FL
I have a 4-2-2 2143 living area coming in July. This one is TOUGH due to location. My other property identical to it gets $1500/month. This one I had a hard time filling at $1400/month. It may end up sitting vacant a month as well. Blows the heck out of those advocating 99% leverage. This one is debt free which means I won't be scrambling to cover expenses.