When most people think about Sanibel Island real estate, they often assume it’s simply about buying a home for themselves. But that’s not always the case! Many people reviewing Sanibel listings are scoping out the internet for the best investment properties.
Owning a vacation rental can be a great way to bring in extra income and own an incredible property in one of the most beautiful locales that Florida has to offer.
So, why should you consider investing in real estate on Sanibel Island? We’re here to tell you!
What is Real Estate Investing?
First things first: what exactly is real estate investing? In short, it involves purchasing properties to rent out to tenants or vacationers. You select the home or condo that you think will appeal to newcomers to Sanibel Island or those coming here on vacation. Once the property is yours, you can fix it up however you please and then rent it out to make a profit. Essentially, you’re investing in a property that will (hopefully) turn into a consistent flow of passive income for you.
Real estate investing is becoming more and more popular these days as a way to secure passive income. Many property owners enjoy the freedom of renting their property as they like while also staying in the home themselves whenever they come to town. Additionally, managing a vacation rental and bringing in revenue could make it possible to invest in another property down the line, leading to even more passive income. Whether you want to purchase a property to “flip” and rent it or you want a home that’s more move-in ready, investing in real estate is a great way to expand your portfolio and provide an extra revenue stream for yourself and your family.
Things To Consider Before Purchasing a Rental Home
Before you try to navigate the Sanibel or Captiva Island real estate market, there are a few things to think about. Purchasing an investment property might not be the right move for everyone, so be sure to keep these points in mind before you take the leap.
First, you’ll need to consider whether or not you’re cut out to be a landlord. You’ll be dealing with handling payments from tenants, working on repairs (or hiring professionals to do it), and more. If you aren’t ready for the effort it takes to be a landlord, you might consider working with a vacation rental agency that will rent out the property for you. Take a look at both of these paths in more detail to determine which might work for you.
Of course, to purchase an investment property, you’re going to need funds. It’s important to pay down your own personal debt before you put a down payment on a property. While it’s not necessary to eliminate your debt entirely, you never want to be in a position where you lack the cash to pay your debts while you’re also paying on your investment property.
Speaking of cash, you’re going to want a sizable down payment when you’re buying real estate. Typically, investment properties will have stricter approval requirements for funding, and they usually require an even greater down payment than your typical home. Expect to pay at least a 20% down payment from the get-go.
Why Sanibel & Captiva Island Is the Perfect Location
There are tons of places throughout the world, and even just throughout Florida, where you could choose to purchase an investment property. So why consider Captiva and Sanibel Island homes for sale?
First, these two islands are some of the most up-and-coming locations in the Sunshine State. Other areas like Panama City Beach or Anna Maria Island are already pretty popular with investors, but Sanibel and Captiva Islands are just now on the uptick. You can get in on the ground floor and snag an amazing rental property at a great price. On top of that, more and more vacationers are heading to this area, so you’re almost guaranteed to be booked all year long.
Of course, when your investment property is not being occupied, you might be interested in staying there yourself. Luckily, Sanibel and Captiva Islands have tons to see and do! The weather in Sanibel is warm and pleasant no matter the season, so you can enjoy the outdoors all year round. Plus, there are all kinds of interesting historical sites, unique shops and boutiques, mouthwatering restaurants, and more. And that’s not even to mention the beaches of Sanibel Island!
Choose David to Help Purchase Your Rental Home
When it comes to actually purchasing your rental home, it’s best if you don’t try to go it alone. You could find that your journey to your ideal investment property is much longer than you anticipated, and trying to do it alone might mean you pay more money than you should. However, working with an experienced and respected Sanibel Island real estate agent is a great way to get an amazing deal on your investment property and get everything taken care of in no time.
David Schuldenfrei has been one of the top real estate agents in this area since 1976, and he is truly passionate about serving the residents and the occupants of Sanibel and Captiva Islands. David has incredible connections all around the islands, meaning that he can find amazing homes for you that might not even be on the market yet.
Especially if you’re purchasing your first investment property, you might not know just what to expect. David can walk you through every step of the process and ensure you’re always in the know. No question is too big or too small! At the end of the day, David Schuldenfrei is here to make sure you’re satisfied with your purchase and that you’re well on your way toward crafting a lucrative investment property. Just make like easier, David even has an assortment of real estate tools on the website, so you can get prepared!
Let Gopher Rentals Help Make Your Management Easy
Not ready to handle all of the responsibilities of managing your own investment property just yet? That’s where Gopher Rentals comes in. Gopher is a popular vacation rental management company that allows property owners to be nearly hands-off when it comes to the day-to-day aspects of being a landlord.
The team at Gopher will not only handle the immediate needs of your tenants, but they can also help you find tenants in the first place. Gopher has successfully handled thousands of leads and will work tirelessly to market your properties for you, saving you tons of time and energy. Gopher utilizes marketing media like e-mails, social media, pay per click ads, and more to ensure your property is booked as often as possible.
On top of all that, you can rest assured Gopher is always there for both you and your tenants. If you ever have a question about how your property is doing, the team is consistently available to you. Likewise, they make themselves available to your tenants or guests for anything they may need.
Buying Or Selling?
Interested in learning more about purchasing Sanibel Island real estate or having your property managed by Gopher Rentals? Contact us today to get started!