Top 3 Things to Look for in Cape Coral, Florida Investment Property - Part 2

Posted by David Sporleder on Tuesday, February 8th, 2011 at 8:37am.

Ok, so you're familiarizing yourself with Cape Coral properties and learning about the unique details that affect our area. The last Cape Coral Property investment article gave you three vital considerations when looking at Cape Coral real estate as an investment option. We looked at defining your goals, whether they are long term or short, community growth projections of Cape Coral, and we discussed the different types of Cape Coral waterfront properties available.

Now we are going to kick it into high gear and give you three more vital investment tips for Cape Coral property.

1.    Keep it Simple - When investing in Cape Coral property, especially if this is your first time, don't get in over your head. One of the biggest mistakes investors make is thinking they can add thousands of dollars worth of value to a property by making costly renovations that are often unnecessary. Of course, adding a pool bath or resurfacing a driveway are small projects that can increase the overall appeal of your home, but sometimes it's just not necessary. This is where your real estate agent should become your instant best friend. When you are ready to sell, consult with your agent. He has the buyer's ear and can fill you in on what potential buyers are looking for, and especially, what they are paying top dollar for.

2.    The Other Water Issue - When considering Cape Coral property, waterfront property isn't the only water related factor. In this area, your first two questions should be, "Are assessments paid?" and "Is the property on city water?" If the answer to both of these questions is yes, and the price of the home is right, you've got a winning combination. An experienced real estate agent will make you aware of the ins and outs of Cape's other water factor.

3.    Get Your Finances in Order First - Often times first time investors get so wrapped up  in finding the right Cape Coral property that they forget the most important part. Having your loan pre-approval letter in hand when negotiating the price of a property will often give you the upper hand. So, make that all important trip to your bank before visiting your first property. How does it give you the upper hand? Often times, sellers with the lowest prices are in a hurry to sell. They may have a new career lined up, a family emergency, or some other life altering situation that is motivating the quickest sale possible. If this is the case, your pre-approval letter can put your offer on top of the pile. First, the seller will know that you are serious, and second, the seller will also know that having the pre-approval letter shaves time off of the trip to closing day.

We hope these important Cape Coral property investment tips have proven to be helpful. Now that you are equipped with some solid information, feel free to call our office. We will be happy to help you find the perfect Cape Coral investment property for you.

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