South Florida, and Miami in particular, is a hot pick for estate investors right now. When it comes to the best investment strategy, hosting your property on Airbnb is the most profitable choice. With a median property price of roughly $4k, monthly rental incomes of $2,353, and a comparative monthly Airbnb income of $2,774, there’s solid evidence suggesting that Miami Airbnb investments are the way to go.
Miami real estate is expensive, but sales are going up across all sectors. With a low interest rate and cash return, Miami investment properties are offering an excellent return on investment. Many are still on the hype train of flipping long-term rentals. This has only heightened due to more and more people moving to Miami following some tax reforms. For investors, there’s a huge market that’s driving Airbnb profits.
Airbnb Miami offers a better return on investment than long-term rental properties. This is especially true when looking at the numbers alone, thanks to a higher rental income. This is not to mention better cap rate and cash on return rate and that’s largely because of the tourist market.
Miami is and will continue to be, for a long time, a huge-tourist hotspot. The internet has changed how tourism works too. Every season brings brand new hot spots, including over 800 parks, national parks, sports events, cruise line ships, and an ever-shifting cultural heart.
People are visiting Miami in record-breaking numbers, as shown by occupancy rates of over 50% in most of the top Miami Airbnb neighborhoods. That’s a rate that’s simply unheard of in many other cities.
For more information contact Maxima today.