Buying a vacation rental property is a wise investment strategy whether you’re into real estate or not. You not only have a vacation spot to hit during the holidays, but you can make money off it for the rest of the year by renting it out to tourists and transients.
Florida is one of the best states to invest in real estate property. It is a popular tourist destination in the U.S. with 65.6 million visitors in the first half of 2018 alone. You can also enjoy low property taxes and insurance and no state income taxes. what more could you ask for?
Great weather all-year-round and superb medical and healthcare programs make the Sunshine State a great place to settle and invest in.
10 Great Places in Florida to Buy Vacation Rental Property
1. Fort Myers and Fort Myers Beach
Geographically, Fort Myers is only less than an hour away from a lot of great Florida destinations in this list, making it an ideal spot for those who like to be in the middle of everything. It is a popular destination for baseball lovers in spring as the training facilities for the Boston Red Sox and Minnesota Twins are found here.
While not really considered city living, Fort Myers has most of what you’ll find in bigger cities.
Naples in Southwest Florida has a lot to offer to people from all walks of life. Aside from being a staple name in Florida’s list of best beaches, it also is home to some of the finest golf courses and restaurants in the area.
Just get in touch with any reputable and trusted mortgage company in Naples for some of the best deals in the area. You can also research on your own, but nothing beats the peace of mind that a professional can bring.
3. Key West
Key West is one of the top destinations not just in Florida but across the United States. Folks can expect nothing but relaxation and luxury in this tropical paradise. Its qualities make it one of the most in-demand Airbnb markets in the Sunshine State in both weekly and monthly vacation rentals.
If you invest in Key West, high occupancy rates and high rental income is inevitable.
4. Captiva Island
At only five miles in length, Captiva Island boasts of exclusivity that no other place in Florida can offer. Its limited availability adds value to it in the real estate market.
The island offers some sort of back-to-the-basics vibe where you can take things slow and enjoy the simpler things in life like exquisite sunsets, breathtaking views, friendly people, and a slower and simple pace of life.
5. Cape Coral
If you want a property near the beach with lots of amazing sunsets, Cape Coral is the place for you. The community is beautiful, warm, and family-friendly. It is a great place for those who love to be in the water, with over 400 miles of canals for boating enthusiasts. Golfers can also have a ball here as it is home to the famous Palmetto-Pine Country Club.
Investing in real estate property in Florida and renting them out as vacation homes is a sound investment strategy that is sure to reap rewards for you. All you need to do is pick one spot among all the other great places around the state.