Is Fort Myers a good market to invest in for cash flow properties? Also, what is the typical vacancy rate?

Asked by Bobby Sharma, Oakland, CA Sun Feb 17, 2013

Greetings, I am looking for experienced and well connected local agents that can help find properties that cash flow well. Any recommendations from members appreciated.

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11
Justin Ruzic…, Agent, Greenville, SC
Wed Feb 27, 2013
I manage 30+ properties for about a dozen investors, all are very positive cash flow. Vacancy rate less than 4% over 5 years on average is what we have for our rentals.

Here is a blog about high ROI's
http://blog.houseguy.org/investments/
1 vote
Lisa Gottesm…, Agent, Fort Myers, FL
Wed Feb 27, 2013
Absolutely, you must be able to procure properties either in short sale or foreclosure and have a team of honest and reliable contractors to provide you with bids in the event that these properties need any work done. My husband is purchasing properties for about 70K with expenses around 350 a month and renting them for $800-850. He is also purchasing foreclosures or short sales and rehabbing them for a profit. There are also many turnkey properties out there that you can purchase with a tenant in place. You just need a great agent with market knowledge who you can trust. I work with many out of state investors that purchase property from me exclusively. I would be happy to discuss the market and how we can help you achieve your investment objectives. Lisa Gottesman 239 898 1463
1 vote
Marc Comisar, Agent, Bonita Springs, FL
Mon Feb 18, 2013
I work in the southern portion of Fort Myers.....San Carlos, Bonita Springs, Estero.....All three are different from the next. We manage close to 200 rentals for our customers....if you want to go into any details shoot me a private message or give me a call.

jessemcgreevy@gmail.com
239-898-5329
http://www.Bonita-Estero-RealEstate.com
1 vote
Terry McCarl…, Agent, Cape Coral, FL
Mon Feb 18, 2013
Yes, Fort Myers does have some excellent areas you can purchase homes in that need very little work to turn them into great cash flowing rentals. Email me at leecountyrealtor@earthlink.net or give me a call at 239-707-4575 and I will provide with specific information. I have several buyers that have purchased properties in Fort Myers for this exact purpose and are extremely satisfied with their investments.
1 vote
Kevin Clouti…, Agent, Cape Coral, FL
Mon Feb 18, 2013
Bobby,

Yes, many areas of Fort Myers have higher cash flow properties than others.
Is multi family or single family of interest to you?

I have CAP rates above 12 on multis I have in Fort Myers.

Contact me and we can discuss the areas and your criteria more in depth.. 239.246.6639.

Cheers

Kevin Clouytier
A HouseSOLD Name
1 vote
Beverly LaLo…, Agent, Bonita Springs, FL
Mon Feb 18, 2013
Bobby, the Fort Myers/Bonita Springs/Estero area is wayyyyy different than Emeryville, CA, so it's good that you're seeking local advice.

So much depends on whether you want to invest in quality properties for the appreciation potential or are just looking to hit a CAP rate. I have seen properties so poorly taken care of by their owners that they have plastic on the windows. They don't seem to realize that the quality of their units directly influences the quality and reliability of their tenants.

My group specializes in turnaround of properties in good locations that investors can sell in 3-5 years and move on to even better properties. Click on "Contact" to reach me.
1 vote
Jason Lipsher, Agent, Fort Myers, FL
Sun Feb 17, 2013
This is what I do. Our company finds distressed properties, fixes them up to brand new condition and sells them to our investor group with tenants already in place. We give our clients a 1 year warranty, so if anything goes wrong we re-place it. We are currently offering our investors 10% CAP average return on their investment. We are constantly getting more inventory. If you would like more information on our turn key investments please visit our website or give me a call.

Thank You


Jason Lipsher

13379 McGregor Blvd Ste 2
Fort Myers, Fl 33919
239.278.0028 office
239.277.1177 fax
239.850.0466 cell
http://www.thecozzateam.com
1 vote
Alexis Hansen, Agent, Lehigh Acres, FL
Sun Feb 17, 2013
Bobby,

Yes, many areas of Fort Myers have higher cash flow properties than others!
Is there a particular CAP rate you like to get on your investments? Is multi family or single family of interest to you?

Contact me and we can discuss the areas and your criteria more in depth.. 863.673.6027.

Alexis Hansen
Market America Realty Network
1 vote
David Helm, Agent, Ft Myers, FL
Sun Feb 17, 2013
Would love to talk to you in detail about what you are looking for. There are some great Micro areas in the Ft Myers area, some are better for cash on cash right now, some are great for appreciation plays, where in my opinion will go up 40%+ in next 3 yrs (this is an anomaly, not the norm).

My vacancy rates personally right now are less than 1% in the Cape coral area ( I have none), and less than 6% in Lehigh Acres. I specialize in working with investors, and also can provide some turnkey properties that are ready to cash flow right now.

Dave

David C Helm II, Principal Broker
Summit Crest Real Estate
PO Box 151761
Cape Coral, FL 33915

FL Office: 239-206-1249 ext 1
UT / Cell: 801-550-2788
Fax: 866-472-0683
Toll Free: 800-573-1620
Skype: dchelm
http://www.summitcrestre.com
1 vote
Monika Wilson, Agent, Cape Coral, FL
Sun Feb 17, 2013
Hello, I believe the Fort Myers/Cape Coral area is still the place to be for investment. A cap rate of around 10% is still possible with certain properties. There are still single family homes and multi family homes well worth looking into. Vacancy rates are not very high for good properties in good locations. I am a Realtor in Cape Coral/Fort Myers since 1997.
1 vote
Lisa Gottesm…, Agent, Fort Myers, FL
Wed Feb 27, 2013
Bobby, I will have to check on the vacancy rate for you.
0 votes
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