Investor · Portland, OR · Member since 2025 · 1 post · 0 votes
Currently visiting Miami area and Fort Lauderdale until next Tuesday. Seeking for some advice on short term rentals investing and also wanting to be able to use it personally during the year. Would love to build connections with people in the local market who have experience with this. Could use a referral to an experienced investor friendly realtor here. Also reading about wholesaling not sure what that is about?
Coral Springs, FL · Member since 2018 · 474 posts · 105 votes
2w
Hi Misa, I'm local to the area - based in Englewood but I invest in Broward County tax deed auctions. If you're looking at STR in Miami/Fort Lauderdale, there are a few things to know about the local market.
First, STR regulations vary wildly by municipality. Miami Beach allows them in certain zones, but unincorporated Miami-Dade and most of Broward have cracked down hard on STRs with strict permitting and owner-occupancy requirements. Before you buy anything, check the specific city/county zoning - don't rely on what a seller or agent tells you.
On the acquisition side, one strategy worth looking into is county tax deed auctions. Broward and Miami-Dade both hold regular auctions where you can pick up properties at significant discounts - often 50-70% of market value. The properties are sold as-is, cash-only, but if you're comfortable with rehab projects, the margins are much better than buying on the MLS. I pull data from the county property appraiser sites (BCPA and Miami-Dade) to analyze deals before bidding.
Wholesaling is basically finding discounted properties (through auctions, direct mail, driving for dollars, etc.) and assigning the contract to an end buyer for a fee. You don't actually take title - you just control the property under contract and sell your position. It's a low-capital way to get started, but you need to understand how to find motivated sellers and analyze deals.
Happy to connect while you're in the area. Feel free to DM me if you want to compare notes on the local market.