Calling All South Beach Miami Investors!
i am thinking about buying a condo as a vacation home and renting it out for part of the year. does anyone have any experience with demand on south beach, and how many days a month can i expect it to be filled?
thanks for the imput!
I do not have hands on advice about this but I do live here and I would say that you wouldnt have a problem renting it in the winter months...
Also, you can probably charge a pretty hefty rental price. A night in a crappy hotel (not beachfront) on south beach is $150....and a month in a nice condo rents around 4k or more.
as far as demand....the condo conversions are taking over and the condo developers went crazy and there is tons of condos on the market just sitting.....all the prices have dropped. So I wonder how long this slump is going to last...probably awhile, as there are few buyers and many condos....this will benefit you now, but could hurt you later.
Have you looked into the new condo developments of Midtown Miami? Check those out...
ok, well that was just some rambling from a Miami native....Good Luck!
[addsig]