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Old 05-15-2008, 01:23 PM
 
1 posts, read 7,095 times
Reputation: 12

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Hello

I was really hoping that some of you could please give me some advise on this. My husband and I are planning on purchasing a home in the Cape Coral area. NE and NW area. There is one home in the NE area and three in the NW that we are looking at putting an offer on.

We are purchasing this home for investment reasons mainly. We are from Toronto Canada and would eventually LOVE to move down to Florida but for the time being, we would rent this home out until that time comes. We have a good friend who lives in the Cape Coral area who can screen anyone who would be interested in renting the home.

Here are some of my questions:

1. What area of Cape Coral is the nicest in terms of schools, amenities etc?
2. What is the rental rate in Cape Coral meaning...does anyone think it would be difficult to rent out a home in the NW area?
3. What is the going rate for a 3 bedroom pool house ?
4. Estimate what property taxes would be? In Canada, our property taxes are outrageously high so anything lower can't be that bad.

That's it for now. Thank you so much for everyone that responds

Pam
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Old 05-15-2008, 02:00 PM
 
Location: Broward County
2,517 posts, read 11,052,247 times
Reputation: 1391
be carefull renting it out. Several co-workers of mine bought about 12 pre-construction homes in Cape Coral hoping to "flip" them. Then the real estate bubble came and now they are forced to rent them out. Some of them cannot get any renters. The one's that have renters have told me horror stories and at least 4 of them are in the eviction process as I type this. They are trashing the homes and doing awful things to them like spraying water all into the insulation in the roof, clogging up toilets with rocks, punching holes in the walls. This is not Canada....this is the deep south Ghetto of Florida. Just be carefull is all I can say. Hopefully your situation will be a positive one you can report to us all in the future.

ps....it's advice. "Advice” is the noun, “advise” the verb. When HeyDade advises people, he gives them advice.

Last edited by heydade; 05-15-2008 at 02:09 PM..
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Old 07-22-2008, 07:47 AM
 
Location: Ft. Myers Florida
128 posts, read 648,258 times
Reputation: 65
To the OP, the biggest thing when buying in Cape Coral is to make sure the sewer assessments have been payed. They are doing new sewer lines and water and I don't know what is done and what has not. This has been a big issue for years now and as far as renting there is so much available and no jobs I think it may be a bad time. To heydade, I'm not to sorry for your friends as there were so many people FLIPPING houses around here that was what drove my taxes up and now they walk away from them because they got stuck with all of them. I'm not saying your friends walked away but I bet they're stuck, to bad they tried to turn a quick buck and got hung. My advice they better screen they're renters better because they are the real slum lords and deserve the damage they have to repair and rent to the undesireables that bring a neighborhood down. Sorry but FLIPPERS **** me off and have hurt this area, only the real smart ones got out in time.
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Old 12-15-2008, 10:20 AM
 
Location: Cape Coral FL
16 posts, read 53,992 times
Reputation: 10
If you rent for less than 6 months you must pay an extra 10% tax

Google "House Cape Coral Fall Out Shleter"
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Old 12-15-2008, 10:24 AM
 
Location: Cape Coral FL
16 posts, read 53,992 times
Reputation: 10
Taxes are about $200.00 per $12,000.00 of value of house for a #120,000 Home you will pay arounf $2000.00

Plus you need flood insurance which is a minimum of $548.00 per year ( This is a Mandate not a choice 0


You have school choice meaning you can sned you child to any school you wish ( They will bus him )
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Old 02-01-2009, 09:48 AM
 
1 posts, read 6,709 times
Reputation: 12
Exclamation Rude... Awaking H2O'h my go$h!

This is not Canada....this is the deep south Ghetto of Florida. Just be carefull is all I can say. Hopefully your situation will be a positive one you can report to us all in the future.

ps....it's advice. "Advice” is the noun, “advise” the verb. When HeyDade advises people, he gives them advice.[/quote]

This is the south and especially Cape Coral Fl is not a "Getto" unless you plan to buy homes you will not live or keep maintenance on. Sadly people bought homes hoping to flip them or rent them. All of Cape Coral will have to pay water & sewer assessments proposed by 2012 at approx fee of 18-22 thousand dollars. Keep that in mind if buying a home. Looking for a home in Cape Coral especially in the NW & NE cape area out of 10 homes on a block only 2-3 occupants live or rent them. The area is seeing vandalism and the rental stories are also true. If you are looking for a good home to live in take home in Cape Coral if you are looking for potential profit...keep looking.

Anyone looking to buy in Lee County FL can screen potential renters by going to Lee County sheriff. com and doing a little FREE arrest/ background check you can also look at the street incidents by street to look at neighbor hood crime.

The homes in NE NW Cape Coral are all New and spaced apart but the water assessments will come so be ready to pay an additional 18-20K.
Good luck!
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