I’m an aspiring snowbird from Boston. I’m interested in Miami real estate that I would occupy for 2-3 months in the winter and then rent out the rest of the year.
My wife and I own a couple Airbnb rentals in Massachusetts. So we are familiar with short term rentals, but not the Miami market.
I’m currently doing research ahead of our trip to Miami in early February.
Any recommended resources to learn about Miami real estate?
Specifically, we’re looking for a vacation rental that we would enjoy 2-3 months out of the year.
Thank you for your responses. This is all very helpful.
I totally get that winter is the best rental season. This is absolutely a lifestyle move for me, and I would be okay with not renting it at all.
@Andrew Steffens Nothing wrong with Tampa except it's 10 degrees colder than Miami this time of year.
Interesting idea @Luis Maqueira to buy a better-performing rental elsewhere and then just rent when we go down to Miami.
I like Luis idea too, I always wanted to own a house in the mountains but have settled with owning homes in my market that perform and making cashflow to fund any rental expenses when I go
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
8mo
I am in the Tampa area and I have quite a few clients who started their search in the Miami area and migrated west to Tampa where the opportunities are better. It depends on what your priorities are. If you are looking at the best possible returns, S. FL is ok but not the best. If you love the area and are just looking for some income to offset expenses or a breakeven scenario you should be able to achieve that. I do have a good agent I can refer you if you need. Good luck!
Rental Property Investor · Miami · Member since 2022 · 247 posts · 75 votes
8mo
We should talk,
we have an investor group and one of our team players, is a Canadian GC very familiar with situation.
We can chat I am from latin america all my client have the same idea use and rent when not there. My opinion there are better steady income rental solution for all year. And then when you travel you have the money to pay for it anywhere any time. Winter is when you make the most money and you are going to be use in it??
Thank you for your responses. This is all very helpful.
I totally get that winter is the best rental season. This is absolutely a lifestyle move for me, and I would be okay with not renting it at all.
@Andrew Steffens Nothing wrong with Tampa except it's 10 degrees colder than Miami this time of year.
Interesting idea @Luis Maqueira to buy a better-performing rental elsewhere and then just rent when we go down to Miami.
I like Luis idea too, I always wanted to own a house in the mountains but have settled with owning homes in my market that perform and making cashflow to fund any rental expenses when I go
Real Estate Broker · Tampa, FL · Member since 2017 · 1k+ posts · 685 votes
8mo
Love the snowbird idea. I’m based in Central Florida and spend most of my time buying and running investment properties here. Miami can be fun, but it’s very rule heavy and super neighborhood specific for short term rentals.
Since you already do Airbnbs, I'd start by digging into Miami's STR rules and talking to a couple local hosts or agents who live it every day. Also don't sleep on Central Florida for a winter spot that rents well and is a lot more predictable. Happy to chat if you want to compare notes.
Love the snowbird idea. I’m based in Central Florida and spend most of my time buying and running investment properties here. Miami can be fun, but it’s very rule heavy and super neighborhood specific for short term rentals.
Since you already do Airbnbs, I'd start by digging into Miami's STR rules and talking to a couple local hosts or agents who live it every day. Also don't sleep on Central Florida for a winter spot that rents well and is a lot more predictable. Happy to chat if you want to compare notes.