South Florida Condos

[Michael Rashfal]

Hi Everyone, I've been thinking of investing in a South Florida condo for a while now (hopefully on the beach). My strategy would be to buy and hold. I'm currently looking in the south beach area, as well as Sunny Isles, Hallandale, Hollywood and Fort Lauderdale beach areas. However, with the high prices, HOA dues, property taxes, insurance and rental restrictions, it seems very difficult make a positive cash flow. I wanted to get everyone's thoughts to see if anybody figured out how to make it work with a mortgage. Any thoughts are greatly appreciated. Thanks in advance.

[Lana Daleo]

For Buy and Hold it should be Hollywood Beach (Broadwalk or City center "Young Circle"), Hallandale or Dania Beach... in that particular order. Cap rate maybe not the highest for the moment, but apprecvation is. Exactly for those looking for long term investment. Make sure the property can be rented right away (some require 1-2 years or ownership before). Be pre-approved, as the majhority of deals are cash here.