STR in Miami - Downtown area, Edgewater, and Wynwood condos

[Nerlande Joseph]

Hello investors

Anyone currently doing STR in downtown Miami and surrounding areas, STR condos? How is it going? Any recommendations? I see most of them having very high HOAs. If purchasing for STR and the exit strategy is long-term rental, would the property be able to cashflow well? 1bdr vs 2 bdr? Any recommendations on location and buildings? Is it a good strategy to buy one now?

This would be my first STR.

Thank you!!!

[Branden Rivero]

its not impossible but very difficult here, HOA's are on top of their game when it comes to the str on the units. I have heard horror stories from friends, there are very few buildings like the opera if i'm not mistaken that allow str.