All Forum Posts by: Beatriz Goudie

I don't have any Airbnb properties but I know there are some areas here where neighborhoods have imposed many regulations. Miami Beach has some of the most restrictive short-term rental rules in the country. I'm glad that it's working for you @Hernando Quintero, but I would caution @Angela Romero to look into regulations for each area before investing. Good Luck!

@Juan Lopez sure no problem, I'm happy to help. Send me a message with the information.

@Angela Romero the best you can do in those markets right now is a 6% cap (forget about the 2% rule here - you won't even find 1%!). There are some opportunities in C class neighborhoods and through wholesalers if you have cash/hard money. 

@Juan Lopez I always do a property search at miamidade.gov, which tells me 1) PA Primary Zone (current use of the property) 2) Primary Land Use (Zoning of the property). Many times you will have a 3100 multi-family 4 or 5 units on a 0803 multifamily 2-9 units, which means that you can add units without dealing with the zoning issue. As @David Sisson mentioned, it's a process and generally (in my opinion) not worth it. Please give us an update if you decide to go through with it! 

@Benjamin Sklar I have been on the buying side of wholesaling here and I can tell you that it's cut throat. I suggest getting your feet wet by working with some local wholesalers. I can send you the contact for several if you are interested.

Hi @Cole Britting I am happy to connect. 

@Axel Meierhoefer thank you for your post. I have just started looking out of state for the first time, but am nervous about moving into TK. I manage all of my properties and am very hands on with tenant screening and selection. It is very difficult to imagine handing that over to someone else along with my $$$. However, in my area the market is way too hot for decent returns right now. Your experience is encouraging, demonstrating that it can work. Would you be willing to recommend the TK providers you use? Many Thanks!

@Rafael Castellanos if your house is zoned single family then you will have to do the work without permits if you want to add a kitchen. Many people do that here but it's a risk if the city finds out you may face code violations and potentially having to demolish past work. As far as property value when you resell there may be appraisal issues but many people overlook "illegal" modifications.

@Bryan rodriguez I have been looking since August and haven't found anything. There's too much competition for single family homes with interest rates being so low and people moving out of apartments because of COVID, for the numbers to work for investors. With multi-family you have a lot of tenants that aren't paying rent because of the eviction moratorium affecting returns aside from the high asking prices. I agree with @Carlos Rovira that anything above 6% is the best you are going to find in the current market.

@Wryland Reed you can register on the tax collectors website and bid on the tax liens once a year in June. There are some properties that remain available throughout the year but are not good to bid on because the property has no value (it is underwater, etc.). When you bid on a tax lien you are bidding against other investors and it is an investment for return, not for the property. The investor willing to take the lowest return wins the lien for that year. Once the owner pays their outstanding taxes, you receive your investment plus return. If the property goes to auction and is sold, then you receive your money. The only way to protect your investment is to make sure that the property has value.