First Multifamily Looking in South Florida

[Danielle Lynch]

Hi guys,
My first bigger pockets post. I own 3 long term rentals in Chicago and I am looking to buy my first multifamily in south Florida. Does anyone have recommendations on cities they are investing in Florida that are currently working? Do you think I have to start with 2-5 units or just analyze the numbers and try to scale up to more doors (which is my goal at this point). I have $500K liquid and another $400k in stocks I could pull out if I find a deal I can't pass up. Thank you in advance for any help!

[Ray Hage]

Quote from @Danielle Lynch:

Hi guys,
My first bigger pockets post. I own 3 long term rentals in Chicago and I am looking to buy my first multifamily in south Florida. Does anyone have recommendations on cities they are investing in Florida that are currently working? Do you think I have to start with 2-5 units or just analyze the numbers and try to scale up to more doors (which is my goal at this point). I have $500K liquid and another $400k in stocks I could pull out if I find a deal I can't pass up. Thank you in advance for any help!

 Hi @Danielle Lynch, I am an investor (with 3 multi-unit properties) here in South Florida and also a Realtor. At the moment, I believe your best bet are some cities in Broward and Palm Beach. Generally speaking, Miami's prices are a bit too high to have a decent cashflow at the moment. If you'd like to connect over the phone, I should have some free time this afternoon. 500k liquid is plenty enough to get started but don't sell your stocks just yet. Let's find the right deal first.