Real Estate Investing in Southwest Florida

[Duane Tomlinson]

Hi All,

I am looking to get started with real estate investing down here in Southwest Florida - Fort Myers, Bonita Springs, Naples area. The prices of houses and condos are quite high in relation to the monthly rental ask. 

Is there a different or better rule of thumb to use down here? 

My friend and I are starting a partnership to split the risk. Open to connections down here as well - contacts, meetups, and advice. We know there is a lot to learn from this community and eventually look forward to contributing!  

[Stetson Miller]

Hi @Duane Tomlinson,

Nearly every condo in the area is going to have high HOA and assessment fees, so that eliminates them for nearly everything other than prospective appreciation investing. If you're trying to look specifically for condos, though, there are a few in the Northern part of Fort Myers in the sub $80,000 range that are workable.

For single family homes, prices are currently high for immediate returns unless you're planning on a long term hold after a pretty serious rehab.

Your best bet in this area right now for instant cash flow is 2-4 unit multi-families, if you're just starting out. Once you start working your way up from there, the area also has great opportunity for continued growth as you expand into larger complexes moving forward.