Naples and Marco Island Florida

[Jamin Olds]

Hey BP -

I am looking to connect with some BP members in the Naples and Marco Island area. Me and my partner are looking to invest in this area. We do not know this area great but my partner has family located in the Naples are. We have cash backing and would like to gain more knowledge before we make a decision. We also would like to connect with a local realtor in the area.

What are a average cap rates in this area?

What about monthly cash flow?

Are condo's in this area profitable as rentals?

Any information and connections would be helpful.

Thanks in advance!

[Alvin Taveras]

@Ashwini Karai, Thanks for bringing this conversation back to life. lol

I work with a lot of investors from out of state and out of the region. If you live in SWFL, I often feel that you've only noticed how the prices have gone up. For much of the country and major Florida metros, they are surprised how inexpensive many parts of the area are (not including Naples and Marco Island). To them, it's often very evident that this region will continue to develop and rents/values will also keep going up. They are actually encouraged by our appreciation (a lot of the country is less promising).

The demographic shift continues to swing in our favor and we are becoming a year-round market with more mature industries/ employment opportunities. In Cape Coral, Lehigh Acers, Port Charlotte, North Port, Punta Gorda we have plenty of buildable land ideal for build-to-rent. Cape Coral, Fort Myers, Lehigh, San Carlos Park have plenty of rehab/LTR opportunities. There are several areas where short-term vacation rentals work. 

With this said, yes, it was much easier in years prior to find deals. but I'm a firm believer that there are opportunities in every market and I think we have a few more options than most realize. 

Let me know how I can help!