Investing in Miami Beach area

[Natalia Perlova]

Hello folks, 

I am looking for buy an investment property in Miami Beach area, live in it for a year or so and then convert to a short term rental. Any advice or watch-outs I should be aware of? I know there's a map that shows there Airbnb is allowed.. anything else? Is it better to buy up north by Fort Lauderdale? 

Thank you!

[Jimmy Woodard]

@Natalia Perlova it's not just local regulations but also the HOA to watch out for. If you're looking in Miami Beach then you're 99% looking at a condo, and a lot of condo HOAs don't allow short-term rentals. You may have an easier time buying up north in Ft. Lauderdale, but you might make less revenue than a Miami Beach property that's legal and HOA-compliant. Good luck!