Investment property in Cape Coral?

Question

Brand new investor...looking at my first property through TurnKey in Cape Coral. Smart location to invest? Anything I should consider before investing? Thanks!

Alvin Taveras · Answer

Cape Coral is a large fast-growing city with many different opportunities to invest. There are plenty of good & bad options.

Since you mentioned it's Turnkey, Are you looking at buying an existing vacation rental with a proven book of business?

If you buying a vacation rental you want to have a good understanding of our changing seasons. You can't just look at the average rental rates. You have to look at the vacancies rates and make sure you know all your operational expenses.

Hope this helps!

Steven Segal · Answer

We own quite a few in the Cape. Make sure to have a good management company and know your true insurance cost w/ flood/named storm. Also, and you prob know this, be careful with north cape and assessments for city utilities.

Steve Harbertson · Answer

Thanks Scott! This is good information!

Scott Swanson · Answer

Hi Steve,

Do you have a solid property management company to manage it? Are you sure it's actually turn key? Many times turn key properties aren't all they're cracked up to be. Many times when we go look at turn key properties for our investors to buy, they're not turn key. We might have to paint, replace light fixtures or whatever. Very rarely do we find actual turn key properties that are ready to go. I hope this helps. Best of luck.