Miami - where to invest?

[Matt Smith]

I am planning to invest in Miami/Miami Beach for a condo and then rent it as a short-term rental (VRBO or Airbnb). Since it is very regulated there, I am targeting condo-hotels. Any specific building you would recommend to maximize cash flow and ROI? Thank you!

[Marty True]

Hi all, just to add some notes here on the short-term subject... I live in Miami Beach and also looking to invest here but I can tell you that in South Beach, unless the property is licensed for hotel or otherwise grandfathered in, you will get hit with a $20k fine. However, in North Beach (NoBe) where I live, the city has passed an ordinance allowing short-term rentals here, in any property.

I am looking to start investing here myself, not necessarily for short-term, but definitely buy and holds. If any of you guys need "boots on the ground" to work on a deal with you, I am here in the heart of Miami Beach.