Cape Coral Florida

Lamai7
Level 1
Kent, WA

Cape Coral Florida

Hi everyone.

We are thinking about buying a single family home with a pool in Cape Coral. Mostly for STR investment. Is it a good place to start a STR business? What other places should we consider around the SW Florida area. We are from West coast. Any input is appreciated  

4 Replies 4
Helen3
Level 10
Bristol, United Kingdom

Hi @Lamai7 

 

this is an international community so many of us won't know the area.

 

1. start by doing your market research to see what areas already have or are planning STR legislation  

 

2. then do market research around supply and demand for the type of property you want to buy with guests that you have identified as you me target market

 

3. speak to estate agents in your chose areas 



 

Lorna170
Level 10
Swannanoa, NC

@Lamai7   There seem to be anywhere from 3,000 t 9,000 rental properties listed in and around Cape Coral.  Obviously, a tourist haven.  

 

1.  Learn what the local zoning laws are.  Is there a movement to limit STRs?

2.  Do you need licensing?

3.  What insurance can you obtain for the pool?

4.  STR insurance can be expensive.  Do not rely on AirBnB "insurance". 

5.  Learn what the state, county, and local taxes are.  AirBnB will not tell you.

6.  How are you going to manage?  A housekeeper,  co-host, realtor or management company?

7.  If you have an HOA, make sure that an STR is permitted, and get that in writing.

 

IMO, unless you are going to spend a month or more at your Florida property every year, it may be more cost effective to find a rental property that you like and come back to it year after year.  The stars really have to be aligned for a long-distnce property to bank.  

Lamai7
Level 1
Kent, WA

Thats really great advice. Thanks for the reply @lorna170

Tiffani38
Level 2
Daytona Beach, FL

Clearwater Beach is a great area to look, also Tampa area. I'm a Florida Native please let me know if you need any help with cohosting or setting up. Good Luck!