Both condition and location will allow you to attract better tenants and better long-term financial performance. 

High ROI How did you find this deal and how did you negotiate it?

SD has a historically high appreciation rate and it sounds like you also did a lot of work to it. 

From my understanding right now seems like not an ideal time to get in with mortgages being high and rent being low.

I’m thinking about luxury condos for short term rentals since I’d occasionally want to have a place I can use for myself.With mortgage rates so high and HOA fees for many of these buildings at around $1k a month, it seems like investing in a condo in Miami is more of a game of price speculation.

@Leah Thibeault there are tons of high traffic posts on this subject!

We are fully booked for high season (Dec-March) through 2026.I know this is not the typical investment, so totally appreciate any advice anyone may offer.

I kept meaning to buy for a few years, but I’ve been simply overloaded with a startup.My current country prevents me from purchasing property (non-citizen), and doesn’t offer fixed rate mortgages - the floating rate is high rate at 7%, and has been about this the last 20 years.

Can you provide data on rental performance and revenue for properties you manage?

These places will be more expensive, for a reason.Now I do think that there is some opportunity in certain areas of upstate NY for short term rentals, however upstate NY is not a well established travel destination so your occupancy will probably be low and highly seasonal but this method is viable.