*Asking for a friend*
I am looking for investments in Miami. I am not familiar with the market but from what I have seen so far
there is an over saturation of condos and HOA fees are high. What are all you investing in Miami
if not condos? SFH or Multifamily?
Is it even worth investing that market? I am looking for cash flow.
Cash flow will be hard to find in Miami. However, there is 'a deal' in every market.
Miami is more of an appreciation market vs strictly cashflow. Are you only looking at City of Miami or also other areas in South Florida?
There are still tons of deals out there you just have to look. For cash flow buying single family homes right now will generate the best cash flow just going based on what is on the market currently and from personal experience.
Exactly what @Branden Rivero said. There are tons of deals down here. A lot of investors will throw generalizations out about Miami real estate being too hot or overpriced like New York or San Francisco but it's not necessarily comparable. Yes like the entire country Miami prices have skyrocketed over the past 18 months and we have, I believe but definitely fact check this, the lowest income to rent ratio in the country which further exacerbates the ridiculous demand for affordable rentals and affordable housing. If you're willing to put in the work and go direct to seller (letters, seo, signs, door knocking or whatever) you can pull down deals monthly with ease. Do I see enough inventory down here that would allow you to implement a big acquisitions operation? Not necessarily but for the small to medium size investor whether it be single family, small multis or condos there are deals everywhere.