South Florida Distressed Condos

[Michael Rashfal]

Hi Everyone, How difficult is it to find a good deal on distressed condos in South Florida, preferably in Hollywood, FL or Sunny Isles Beach? Are there any good deals to be had down there or are they generally going for market rate?

[Marty True]

Hello @Michael Rashfal - Hollywood is a good bet for finding distressed properties/condos but Sunny Isles Beach is going to be a very different story. Hollywood is an investment area I am concentrating on for small multifamily like duplexes and triplexes. I generally stay away from condos simply because my investment strategies don't include paying HOA fees on rentals - unless of course, it is a hugely discounted purchase price. But deals are to be had in Hollywood but you would have to have "boots on the ground" in or near Sunny Isles to score there. I live in North Beach which is just a bit South of Sunny Isles so if you decide you want to pursue that area, I might be able to work with you on finding deals there. PM/connect with me if you're interested.