Rental Property Investor · Miami · Member since 2022 · 247 posts · 75 votes
Hi, Want to scale up our portfolio, using Co-living strategy for single-family and 12 or more units. Any investor clubs or networks to meet up other owners? To share experiences and strategies. Is so new that the information you gather online goes from worst experience ever to 5K extra profit per month....
My name is Andrew and I own a PM company in Miami. Have you implemented this? What have been your findings? Co-Living is tricky with tenants getting along and overall liability but is a great way to increase income. Depends how the living quarters are laid out. Happy to connect.
Let's chat, there is a meeting next Tuesday at the Squadron restaurant, Miami Airport 7:00PM.
Also Pace Morby is coming to Miami Beach on Januay 8, great network.
We have over 100 coliving in the group and we are all learning every day how to do it better. And yes the money is in the cashflow and that can only happen with good PM
The variable that makes or breaks co-living economics in Miami-Dade is walkability — and the spread across zones is massive.
I've been tracking multifamily data across 34 zones in the county. For co-living, the numbers only pencil where tenants don't need a car, because that's what justifies the per-room premium.
Three zones worth watching: Downtown Miami has a walk score of 95 and transit of 92 — best in the county for co-living accessibility. The catch is 8,000+ units in the construction pipeline pushing vacancy toward 9%. But for co-living operators that actually helps: per-unit acquisition prices soften while per-room demand from young professionals stays strong.
Overtown is the sleeper. Walk score 80, transit 82 via MetroRail, and price per unit at $150–220K — lowest in the urban core. It's an Opportunity Zone with tax benefits that layer on top. Jackson Health System is the anchor employer and crime has been trending down.
South Miami runs $260–330K/unit with walk score 65 and Metrorail access. University of Miami generates a steady pipeline of post-grad tenants who'll pay per-room. Vacancy is just 4.5% with A- crime and A- school ratings.
For your 12-unit scaling target, one thing to model carefully: a no-flood zone like Overtown saves roughly $1,100/unit in insurance versus coastal areas at $2,500–2,800. On a 12-unit building that's over $16,000/year straight to your margin before you even optimize rents.