Looking for help understanding the SW Florida Rental Market

[Joshua Bass]

Hi All! "Longtime listener first time caller here." I have been investing in RE since 2012 but have been exclusively in my hometown market. I'm looking to branch out and have been spending a lot of time in SW Florida and am interested in starting to invest there. Im looking to better understand the SFH rental market. I know this is a broad question but if you have a rental property anywhere from Marco to Fort Myers I would love the hear specifics.

What was the purchase price?

When did you buy?

Bed/Bath/Sqft?

Rent? 

Your preferred location and why? 

Thanks in advance for indulging me and sharing some info. I will be down there in a week and am planning on attending the local REI meet up.

Best,

Josh 

[Peter Davis]

Hi Josh,

I don't own any rentals here in SW Florida but I've helped a lot of investors buy them. I own apartments in Los Angeles, where I lived prior to moving here in 2012. My plan is to buy and hold here too. The fundamentals are strong, both annual and seasonal. I'm listing an older gulf access home in SE Cape Coral and it's booked solid with seasonal renters and its pretty dated, clean but older (actually my age, 49 :). If you have an idea of what you're looking for I'm happy to send you listings and pull rental comps. Keep in mind condos are challenging with limits on frequency and duration of tenancies, HOA approval of tenants and often the condo fees kill cash flow.

I'm also planning to attend the meet up. Look forward to meeting you then!