Hi!Newbie in Miami

[Melisa Laura Díaz Cruz]

Hi everyone! I am currently living in Miami Florida and I am looking into buy and hold small multifamily rentals,I am also willing to do house hacking ,since it would be my first property I except to get a lower downpayment.I am looking properties between 300k but I am not sure about which location to choose ,that would generate cash flow ,any recommendations here ? 

[Steven Foster Wilson]

Hi Melisa, welcome to BiggerPockets! This will generally depend on what you're after. Looking for cashflow? Look into Cleveland, its got good cash flow potential with appreciation happening as well. Looking for appreciation? Come to Columbus, there are still 1% deals, but the more attractive part is the population growth and other economic drivers!

House hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income, but it's important to have a long-term plan in place. I'd say keep in mind a few things for starters:

1. Work on your numbers - be sure to calculate potential cash flow and ROI. Make sure to factor in all expenses such as property taxes, insurance, repairs, maintenance, repairs and potential rents.
2. Type of property - Choosing a triplex and fourplex is ideal but a duplex will also work out.
3. Make sure to properly screen your tenants at all times. Don't rush into things to secure your investments.

Lastly, be a good landlord and build a certain relationship with your tenants by ensuring that you address all issues and concerns in a timely manner. A good landlord will always keep a happy and loyal tenant all the time. Hope this helps and best wishes to your real estate journey!