6 Proven Ways You Can Make Money In Fort Myers Real Estate

7 Proven Ways You Can Make Money In Fort Myers Real EstateReady to learn how you can make money in Fort Myers real estate? In this post, we’ll explore six proven ways to use real estate to increase your financial standing!

Owning real estate is one of the best ways to build wealth. There are a number of ways to use it to make money. Some are obvious, while others are a bit more out o the box. Keep reading to learn more about some of our favorite ways to make money in Fort Myers real estate!

Buy and Flip

While the heyday of flipping houses may have passed, there are still individuals across the country who continue to engage in this practice and reap substantial profits. Initially, when flipping gained popularity, it seemed like everyone was jumping on the bandwagon. Any dilapidated house could be purchased, renovated, and sold for a profit. Though such deals are now more challenging to come by, they still exist. When considering purchasing a house in Fort Myers for flipping, it’s crucial to understand the endeavor fully. Estimating repair costs is essential, but equally important is ensuring you can find a buyer willing to pay the price necessary for profit. You don’t want to invest time and money into a property only to break even. Conduct thorough financial analysis, accounting for all expenses, and be sure to allocate extra funds for unexpected costs!

Buy and Hold

As an investor of Fort Myers real estate, it’s always good to have a few properties in your portfolio that you are holding onto. Look for properties that are likely to appreciate in up and coming areas. Just make sure you will be able to find a high-quality tenant who will pay you what you need each month to make the investment worth it. Holding investments and cashing in on their appreciation over time is a great way to create a steady income, with a large reward when you decide to finally sell the property.

Buy and Divide

Opting to purchase a larger tract of land and subdividing it can be a lucrative venture, with each lot potentially selling for a significant sum above the original purchase price. However, before diving in, it’s crucial to ensure feasibility. Familiarize yourself with zoning laws and local ordinances to guarantee compliance. Additionally, assess the demand for the lots; a fantastic deal on the land doesn’t automatically translate to buyers eager for individual lots. Verify that there’s substantial interest in construction to expedite your return on investment.

Buy and Develop

Another option would be to purchase land and develop it yourself. Depending on the size and the zoning, you could build one building, or divide it up for multiple structures. Consider the options so you can use the property to it’s highest and best use! Doing something like this is typically best reserved for someone with a background in real estate or construction. You will want to have a clear understanding of the process and everything that goes into it.

Buy Commercial

Traditional investment buyers don’t always consider commercial investments; however, they should be! As long as you have a clear understanding of the numbers which can take a bit more analysis than a traditional single-family home. You’ll want to look at the vacancy rate, net operating income, cap rate, and gross rent multiplier for the property. You’ll also want to ensure you are leasing the space to qualified tenants who you believe will be in business for a long time in your location. If your place is off the beaten path, you may not want to lease to a business that requires a lot of foot traffic. You don’t want to have a fly by night business in there, causing your vacancy rate to escalate.

Buy Mobile Homes

Engaging in buying and selling mobile homes presents a promising entry point into real estate investment. These units are typically obtainable at a comparatively low cost, and repairs are often more budget-friendly. However, there are nuances to mobile home investments, including specialized repair considerations, lot rental fees, and local demand dynamics. Given the growing popularity of compact living spaces and the associated reduced expenses, mobile homes are increasingly appealing. In select instances, it’s even possible to purchase the land beneath the mobile home, though feasibility varies depending on your chosen investment location.

Are you looking for great real estate investment opportunities in Fort Myers? Core Real Estate Solutions can help you find the highest-quality investment properties so you can make money in Fort Myers real estate no matter your budget.

Let us help you make money with Fort Myers real estate! Contact us today for more information! (239)360-3176

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