Miami Market Sept 2021 Question

[Alex Coelho]

Hello all!

I'm heading down to Miami this week to scout the real estate market and wanted to get a sense of the market from folks on the ground. I've read that the area is a bit overpriced at the moment so this may not be a good time to buy. 

I'm also interested in anyone's opinion on Little Havana and the surrounding neighborhoods. There seems to be quite few single family homes for sale that potentially could offer as a good longterm investment. Do you see future growth potential in this area?

Lastly, my goal is to either to buy a condo that allows me to STR or single family home that I can house hack occasionally when I'm in the country. I know not all places will allow STR and still doing my research on the Florida & county regulations. My max on purchase price would probably be 450k but would like for it to be under 400k. Also, not looking for studios. Any guidance would be much appreciated.

Best,

Alex

[Alex Coelho]

Originally posted by @Malgorzata Sadowska:

STR condos could be an option and under $450k most likely a 1 bedroom. Happy to discuss which buildings allow STRs- there are a few AND you will (most likely) need at least 25% down - if daily rentals, DP goes up = more risk for the bank.

I personally love Little Havana - in addition the reasons mentioned above, it is also one of the non flood zone areas in the county; centrally located with lots of history, culture and character.

Trust this helps & happy investing!

Thanks so much for your input. Little Havana intrigued me given the price point of some of the SFH I've seen. We'll be in touch.