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Updated about 4 years ago on . Most recent reply

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18
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20
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Madigan Tumilowicz
  • Rental Property Investor
  • Denver, CO
20
Votes |
18
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Cape Coral or St. Petersburg?

Madigan Tumilowicz
  • Rental Property Investor
  • Denver, CO
Posted

Hi BP, I'm a newish investor looking for my first out-of state investment, and I'm exploring SW Florida markets including Cape Coral, Port Charlotte/North Port, and St. Petersburg. Would appreciate any insight from other investors about why you choose a particular market and how it's going for you there. Thanks!

Most Popular Reply

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40
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25
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Alex M.
  • St. Petersburg, FL
25
Votes |
40
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Alex M.
  • St. Petersburg, FL
Replied

Madigan, 

You have narrowed your search down to some excellent markets. I am an investor in St. Petersburg - I am also a lifelong resident of St. Petersburg. I am obviously biased and very pro - St. Pete ;) but I strongly believe St. Pete is one of the top areas to invest in the country. 

The population growth, job growth and wage growth in St. Pete have been tremendous and the city is experiencing a major boom in development near downtown. St. Pete actually led the entire country in rent growth in the first half of 2020 - even through Covid and massive increase in apartment supply (multiple 100+ unit A class apartment developments in the last year). 

As a single family rental investor, there is tremendous opportunity for you in St. Pete. All of the new development here is high end apartments and condos, so there is growing demand and decreasing supply in the mid-level rent and single family rental market. I strongly believe you'll experience strong appreciation and rent growth in the years to come in St. Pete. 

Beyond just real estate market factors - the lifestyle here is excellent and it is simply a wonderful place to live. And you can easily avoid flood insurance here as well. As a St. Pete resident and investor - I hope you choose St. Pete :) 

Good luck to you!

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