New Development - Pre Construction in Miami
I am looking into purchasing a new development pre construction condo in Miami that is STR approved for AirBNB. (Most new projects projected for 2026/2027)
I am aware that the market has seen significant gains both in home prices and rental prices over the past few years.
I wanted to get some feedback on your thoughts of making such an investment where the goal is:
1. Long term hold for appreciation
2. Maximize cashflow via STR (hoping to get 7-8% net)
Second question, with these goals which would be the most attractive area for such an investment: Miami Beach, Miami Downtown, Brickell, Midtown.
Thinking of getting 2 condos (1 bd or 1bd + den) ~$750-1M each
Payment structured are usually 30-40% until project is complete