Hello everyone, for the past few months I have been reaserching the Cape Coral market, and I would like to hear from people that actually own multifamily properties in this area and how was your experience. I have read that there is allot of rental demand is this area.
Any PM company the you would recommend?
Any advice you would like to give specifically for Cape Coral area?
Would you share the numbers on your buy and hold investments mainly Duplexes.
What are the rental prices for 3b 2ba in Cape Coral?
I am currently looking at a duplex that has one of the units empty and fully renovated, estimated to rent for $1400/mo and the other unit is tenant occupied and not renovated, dated but in very good conditions renting for $1100/mo.
Seller explained that the occupied unit was not renovated because the tenant said she could not pay the rent increase if the unit was fully renovated like the other one. Would you walk away from that deal knowing that with the total amount in the rents mentioned above the numbers don't add up or would you still purchase it knowing that if you renovate the other unit to be able to rent them both at $1400/mo the property will cash Flow? Curious to know what you guys would do in this case because that is my current situation and I dont know what to do.
P. S.
IT WOULD BE MY FIRST INVESTMENT.
Thanks in Advance!
