Posted on Monday, February 27, 2012
Yesterday two different real estate prospects asked me about renting in Naples Florida. Their thoughts were to buy now as prices are rebounding again and rent the property until they are ready to move in down the line. A good idea I think but you need to be sure you remain focused – are you in the renting business or are your finding the perfect property for you. The transaction costs of renting out something, selling it down the line and purchasing your new place may outweigh the idea in the short-term. Differences in appreciation rates between good rental and your favorite place may outweigh the strategy over the long run. Stay focused and buy the property you want to live in down the road.
For you investors looking to buy rental property and hold it remember Naples, Florida was named by CNN Money February 1 as a top ten real estate turn around city (http://money.cnn.com/galleries/2012/real_estate/1201/gallery.turnaround-housing-markets/index.html).
As a good local example of rental properties we still like Bellasera. This Resort Hotel Condominium allows buyers to purchase units for $220,000 and up and turn them over to the resort’s rental program. Walking distance to the Gulf of Mexico and 5th avenue shops.
The Bellasera website (http://www.bellaseranaples.com/) states “Welcome to a hidden gem in the heart of Olde Naples. Bellasera Hotel, located at the gateway to 5th Avenue South, is where Naples’ tropical elegance, charm, and historical beauty are at their finest. Drawing its spirit and inspiration from the beautiful villages of Tuscany, our Olde Naples hotel offers you a richly appointed setting that glows with distinction. With charming courtyard fountains, Italian architecture, and Mediterranean cuisine, you are treated to “la dolce vita” – the sweet life – while enjoying all that our lovely Naples Florida hotel suites have to offer.’
Please contact me if interested in investing here in Naples and we would be pleased to show a number of options and ideas.
No legal or investment advice or suggestions are being given in this Blog. Actual real estate price and sales results are subject to market forces and are not completely predictable. Please consult a lawyer or investment advisor for such legal and investment advice. The writings of this Blog are intended for the sole use of our clients.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA
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