All Forum Posts by: Matt Dombrowski

33990 checking in. Most properties fared ok and have missing shingles, blown out screens, uprooted trees, soffit/gutter damage, etc. Possible glass damage or water intrusion if not properly prepped (shutters, etc) and unlucky. If you have a pool it’s full of debris. If you left the pool pump running it might have issues. Depending on if your pool cage was replaced after Irma it may be destroyed. 

Hard to say about income without knowing more about the property but off season might be a bit high. Bedrooms? Pool/Amenities? Canal? Gulf access? For a STR in Cape Coral I assume there's a pool (and if not adjust income numbers downward appropriately) but I don't see a pool maintenance fee which will run you ~$80/mo. Management fee seems low. 8% is fine for long term rentals but quotes I've gotten for STR managers are anywhere from 10-25% depending on how full-service you want them to be. Repairs estimate seems a touch low...some people like to do 1% of purchase price ($333/mo) or 5% of gross income (~$250/mo). I don't see any reserve for CapEx. Insurance seems low with current rates and property taxes will be higher 2nd year after re-assessment.

Not sure if I'm doing something wrong but image is too small to see any numbers for me :) 

Check out the RealPage report of fastest growing rental markets: https://www.realpage.com/analy.... Strong showings by Naples, North Port, and Cape Coral. 

@Miles Viant congrats and thanks for the details! would be great to hear what you finally get for rent once complete. small nitpick but would also be worth including allowance for vacancy 

Thanks will check out Will Taylor! I haven’t actually shopped around much yet. 

+1 I pay about $300/mo for insurance on similar rebuild cost with very high deductibles and low coverages in Cape Coral without flood insurance.

Can you share the numbers on the deal? Have seen some of R2R's advertised deal analysis for Cape Coral be a bit optimistic :) 

Rent is way too high. For a standard 3/2 in Cape Coral you can probably expect $1500-1750/mo and Lehigh Acres more like $1250-1500/mo

Super helpful for newbies to the area, thanks!!