Cape Coral For Out of State Investor

[Account Closed]

Hi!

I'm a first time investor looking to buy out of state for cash flow. I recently started looking into Cape Coral market because there's a lot of new development with a decent median rent price. The population has also been increasing in the past few years, which is another plus for me. I'm interested in the market because it seems like it will be less of a hassle to learn how to manage for a newcomer like me, even though my cash flow may not be as high as other markets.

My only concern is that it looks like a buyer's market. I read somewhere that around 70% of the population are home buyers, so I'm concerned that vacancy rates will be very high. Does anyone have insight on how difficult it is to find tenants in this area? Would you recommend this area for someone who is investing out of state or should I focus on higher cashflow markets?

[Peter Davis]

@Account Closed

Hi Kevin,

It's actually a seller's market in Cape Coral at the moment, with only about two-month's supply of inventory. Builders are very active and I foresee a lot of new construction homes coming to market to help fill the demand. I spoke to a property manager I know and she said she hasn't had any problem finding good tenants for her available units, whether SFR's or duplexes, indicating that demand for rentals is still strong here.

I hope that helps!