Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago, 04/19/2023
Looking to invest into Multifamily around South Florida
Was looking to get into my first multifamily around my local market in South Florida, I have seen on a few properties have given me a few decent leads but dont know what type of rentals I should do with my units. Does anyone have any experience doing short term or long term rentals around South Florida and know which might be better. Just heard there was a lot of restrictions with short term so just wanted get any advice or if I should even invest in my local market? Appreciate any info!
Hi Nicolas,
Been working / investing in south florida markets for quite some time now. Happy to help answer any questions you have.
Sent me a PM to connect
- Devin Peterson
- [email protected]
- 860-538-3672
@Nicolas Hansen feel free to contact me. I've been investing here in the market for 15 years now.
#2 Multi-Family and Apartment Investing Contributor
- Cincinnati, OH
- 3,336
- Votes |
- 3,688
- Posts
#2 Multi-Family and Apartment Investing Contributor
- Cincinnati, OH
@Nicolas Hansen, do you enjoy working in the hospitality business? Would you consider buying or investing in hotels?
If not, then you don't want to do short term rentals. Also, what you need from a STR and what works for a LTR are not always the same thing. Convenience, ease of access, proximity to amenities are paramount in STR (again, think about where hotels are located versus single family homes, generally). LTR: it depends on the demographic you are likely to be catering towards, but school districts, low traffic, quiet, etc.
While I don't live in a tourist hotbed, I know many that bought cheap properties to Airbnb without thinking through the whole package, and they were doing okay, at best, in the height of cheap debt and people traveling all the time, and many have since sold since Airbnb has become over saturated and like many in real estate over the last 5 years, the good ones are able to survive and those that got too excited are struggling.
Go for it! Do a 4 unit house hack!
Some localities will have restrictions on short term rentals, it's good that you are aware of that, certainly something to check before making an offer. The numbers usually work out better with short term rentals (if they are allowed), especially down here where we get a lot of tourists.
Hi Nicolas, have you tried looking into Southwest Florida? Shoot me a DM will be more than happy to answer your questions.
Hi Nicolas
We have a team we work together to analyze deals, find capital if need it. Our Motto is simple Buy a multifamily 2023.
We bought 3 this year so fare and 6 last year.
DM to chat
Good luck
@Nicolas Hansen Generally speaking your best bet for income is going to be STR, especially within south Florida. We are tourist destination pretty much all year around. There are restrictions with short term so you'd need to be absolutely sure before buying. Right now, it is difficult to get any LTR to cash flow. Ideally you get a multi-unit property with a beautiful outdoor space (pool would help!). This is all easier said than done. As an investor, this is the type of stuff you could really use the eye of a Realtor to help you with.
Definitely a lot of STR restrictions in West Boca.