Updated almost 6 years ago on . Most recent reply
South Florida Multi-Family
I’m 24 looking to get started in real estate investing in South Florida (Palm Beach and/or Broward county). I currently live with my parents and I figure a great strategy given my current situation & the market would be to “house hack”.
However, I don’t exactly want to move out of my parents house yet because of the associated costs of living on your own (food, cookware, dishware, toiletries. Etc.). I’m able to save & invest over 50% of my before tax income and would like to continue to do so.
I was thinking of purchasing a multi family property and “living in one of the units” to get the 3.5% down. But instead of living in the unit full time I was going to air bnb/short term rent my unit as much as possible.
My question is, is this legal in South Florida? And if it is, has anyone else used this strategy & found success?