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Updated about 1 year ago on . Most recent reply

User Stats

7
Posts
9
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George Flores
  • Investor
  • Homestead, FL
9
Votes |
7
Posts

Best strategy for a first timer investing in South Florida?

George Flores
  • Investor
  • Homestead, FL
Posted

Not sure if I am doing this right since it's my first post on here, but I am just starting out and looking to invest in a deal with my son here in South Florida.

I've been told Apartments, Condos and pretty much anything with a HOA fee associated is not the ideal move.

I already have a primary, this is really more for investment. Should I have my son "house hack" and have others pay their portion of the rent to pay off the mortgage?

Any ideas or advice would be appreciated!

Most Popular Reply

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1,478
Posts
741
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Raymond J. Rodrigues
  • Lender
  • Miami, FL
741
Votes |
1,478
Posts
Raymond J. Rodrigues
  • Lender
  • Miami, FL
Replied

@George Flores, thanks for introducing yourself. I am also a fellow local to the south florida/Miami area. The second option sounds like a better idea. HOAs are unpredictable these days and can require up to 25-30% down payment when financing. If you are looking for an expert realtor in the area that works with investors, I recommend reaching out to @Malgorzata Sadowska.

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