Newbie in Fort Lauderdale area
Hello everyone my name is Ricky and I'm in the process of buying my first investment property as a house hack. I'm looking to use my VA loan benefits. I travel for a living so I'm not home much maybe 6 nights a month. With my job I could be based out of Orlando or Fort Lauderdale. I would like to be within 30 minutes or less of either Orlando or Fort Lauderdale international airport. An Uber ride distance would be even better. I'm currently renting in Dania Beach and would like to stay in the area but it's been hard to find a property that cash flows or comes even close under a long term rental. I would like to do a multi family and rent out one side and use my side as a STR when I'm traveling. Does anyone here have any experience with STR in the area or any suggestions?
Thank you
Most Popular Reply
@Richard Mcatee welcome to BP.
but it's been hard to find a property that cash flows or comes even close under a long term rental
This is pretty normal but especially in a hot market like we have now. Often if not usually, living in one unit of a small multifamily doesn't get positive cash flow it just reduces you cost of housing. The other units help subsidize your unit.
This is because most properties in areas you would want to live don't have positive cash flow.