Air BNB Investment (Hollywood: rentals, hotel, homes)

[Mstrlucky74]

Me and my bro in law are looking buy a property that we can also rent out as an Airbnb.
We like to purchase some sort of multi unit property where if we’d both be down there at the same time(we both have 2 kids). We’d be able to stay on the property but separate units. Not sure there’s a setup would allow for this, correct. We’d like to be bet Deerfield and Hollywood and not too far from a1a and beach. Budget would be about $1M. Is there a property type that would be conducive to our living/family arrangement? Thanks

[aarr2050]

In 2007 1M would do it. In 2022 you need 5x min

[blueherons]

Originally Posted by Mstrlucky74

Me and my bro in law are looking buy a property that we can also rent out as an Airbnb.
We like to purchase some sort of multi unit property where if we’d both be down there at the same time(we both have 2 kids). We’d be able to stay on the property but separate units. Not sure there’s a setup would allow for this, correct. We’d like to be bet Deerfield and Hollywood and not too far from a1a and beach. Budget would be about $1M. Is there a property type that would be conducive to our living/family arrangement? Thanks

So you need a triplex with at least two 2/2s and I'd say a third to get any rental income. You also have to be in a desirable location. I'd say you could find a decent triplex for 1.5 but anything lower you'd need a complete renovation.

Honestly, South Florida isn't like anywhere else in the country. I'd pick another location to try and distantly run an AirBnB. Also, don't underestimate how angry your neighbors may be with you running a hotel out of their neighborhood.

[City Guy997S]

Originally Posted by Mstrlucky74

Me and my bro in law are looking buy a property that we can also rent out as an Airbnb.
We like to purchase some sort of multi unit property where if we’d both be down there at the same time(we both have 2 kids). We’d be able to stay on the property but separate units. Not sure there’s a setup would allow for this, correct. We’d like to be bet Deerfield and Hollywood and not too far from a1a and beach. Budget would be about $1M. Is there a property type that would be conducive to our living/family arrangement? Thanks

A few things:

Price/location are going have an inverse relationship with what you want to do. The better the location the harder it will be to do what you want to do and the price point starts escalating.

Can you find something for 1mm..........absolutely, will be be ideal for rentals, likely no. If it is a great neighborhood your neighbors will also have 1mm homes and not want to have your type of rental next door. If it is a neighborhood that doesn't care, then it likely won't be a great neighborhood.

Here is a compromise, its likely overpriced being on the market for 900+ days:

https://www.realtor.com/realestatean...?ex=2596282250

[Mstrlucky74]

thanks a lot.