If you’re thinking about investing in rental property in Cape Coral or anywhere in the [market_33904] zip code area you might be wondering what makes a good rental property in Cape Coral. We’ll share with you 3 of the factors to see if rental properties are right for you…
Rental properties in Cape Coral can be a great investment. From the cash flow to the security of owning a real asset, real estate investors have known for a long time that rental properties are an amazing asset to keep in your portfolio. But one question persists that needs to be answered before you invest, “What makes a good rental property in Cape Coral?”
In Cape Coral there are many different rental properties that would make for a great income producing property. Cape Coral Real Estate market offers condominiums, Single family homes, townhouses or villas, and multi-family options. When buying rental property in Cape Coral you want to consider whether you want to buy in a gated community with a home owner’s association or not.
What is the difference in buying rental property in Cape Coral in a community with an HOA vs. one with no HOA? For starters, many HOA communities in Cape Coral have restrictions on how often you can rent your Cape Coral Property. Some HOA communities may only allow an annual rental of your Cape Coral Property. Other communities may allow season or monthly rentals. Most HOA communities in Cape Coral do not allow Airbnb or weekly rentals.
After all, you don’t want to invest in ANY property – you want to invest in the right one! So, here are 3 of the best factors that make up an ideal rental property in the [market_33904] and the Fort Myers, Cape Coral surrounding areas.
What Makes A Good Rental Property In Cape Coral?
#1. Strong House, Cosmetic Upgrades Only
Unless you’re handy, or have a lot of experience, you may not want to invest in a house that requires a lot of effort to get it ready to rent. After all, every day that you delay renting is a day that you don’t get the cash flow you desire. A strong, well-built house that is free of problems and only needs cosmetic upgrades is a great place to start. Yes, you might pay a little more up-front for this kind of property but you’ll save time and money afterward in getting it ready to rent.
While you might want to spend a little more for a house that is already in good condition, you’ll still want to make sure that it’s affordable. In the Cape Coral area and other nearby Cities such as Fort Myers or Fort Myers beach, there’s a mix of properties – some are affordable and others are not. (This is what we do here at Core Real Estate Properties – we find the affordable ones! Give us a call at (239)360-3176 or click here and fill out the form to see some affordable rental properties in the area.)
#3. Good Rental Market
You also need to make sure that this is a good rental market. The truth is, not all markets are good rental markets. In some areas, everyone buys and nobody rents; in other areas, everybody rents but they move too much. A good rental area is one where there are plenty of long-term renters such as Cape Coral, and other nearby Cities such as Fort Myers and Fort Myers beach.
These three factors exist in rental properties throughout the Cape Coral area and we can help you find them. In fact, we’ve got an inventory of properties that meet these and other requirements for what makes a good rental property in Cape Coral… and our clients love working with us because we help them bypass the time and effort required to FIND these properties in Cape Coral and nearby Cities such as Fort Myers and Fort Myers beach, since we’ve already done a lot of the legwork.