Investing in my 2nd property in Miami Beach.

[Castro Erick]

Hey BP Friends!

I currently own a Duplex in Los Angeles and I want to expand my Real Estate Portfolio by buying a Condo in Miami Beach that I can use for STR.

I currently live Bi-Coastal between LA and Miami so for me, it wouldn't feel like I would be investing "out of my hometown".

I have a business partner in LA that he and I work as owners & property managers since we're currently not seeing enough of a profit yet to invest in a 3rd party Property Manager. And I also have a trusted partner in Miami whom I could hire as a property manager, for little, next to nothing whenever I am not in Miami.

My questions for this post are:

1) Would it be beneficial for me to buy my 2nd property under an LLC (I wish to transfer my current Duplex in LA to an LLC as well) ?

2) What would be the most beneficial way for me to buy my second property? (HELOC, Cash Out refinance, or any other suggetions)

3) Any other advice the community may have for me moving forward on investing on a 2nd property in Miami.

Thanks again for your time. Looking forward to read from the more wise. Happy Holidays!