Where are the best areas for SFH investments in Miami area? I'll be looking for areas where I can rent the property out to white collar or stable income families who would be paying rent responsibly and not damage the property. Also areas should have cash-flow positive.
Only you can answer this question. Know your market and farm neighborhoods that you know will cash flow with the type of tenant you are looking for. You set the criteria and then shop your market for houses that meet the criteria. Every investor will have a little different criteria. BTW, I have evicted "white collar" tenants too. The type of job people have doesn't determine if they will pay.
Only you can answer this question. Know your market and farm neighborhoods that you know will cash flow with the type of tenant you are looking for. You set the criteria and then shop your market for houses that meet the criteria. Every investor will have a little different criteria. BTW, I have evicted "white collar" tenants too. The type of job people have doesn't determine if they will pay.
Only you can answer this question. Know your market and farm neighborhoods that you know will cash flow with the type of tenant you are looking for. You set the criteria and then shop your market for houses that meet the criteria. Every investor will have a little different criteria. BTW, I have evicted "white collar" tenants too. The type of job people have doesn't determine if they will pay.
I second this. A great tenant has less to do with the whether or not their job is a blue collar or white collar as it does with their overall history of responsible behavior. No matter what people say Miami is still a service based industry city which runs in line with a lot of "blue collar" professions. Maybe that is soon to change with new tech knocking on the doors but that's the current situation.
Now as for cashflow. Well everything will cashflow if you pay enough lol so perhaps you're wanting to know where in Miami could you find a conventional financing SFH that would cashflow. The answer to that unfortunately is nowhere. I don't doubt that with a lot of searching you might be able to find some lower end condos or apartments which might produce a little cashflow with a low HOA but for SFH that game is pretty much over.
Now can you find a serious value add fixer upper SFH, renovate it and rent it out for cashflow? Definitely but anything turnkey you'll most likely have to find another creative use to generate income such as STR in order to make it viable.
@Sarp Ka are you wanting to self-manage or what is driving your desire to focus on Miami for cash flow? You'll find several markets in Florida that have a good combination of cash flow and appreciation potential if you're willing to expand your focus a bit.