Hi Sanj,

Buying a condo is a better choice as an investment in Miami Beach, the condos rents faster and easier. From my experience in investment properties in Miami Beach and South Beach. Actually, I also manage condos for absentee owners,

Thanks,

Nelly

The short answer is homes and home prices will recover before condos. Buyers who are using the homes as primary residence can buy FHA with only 3.5% down (a few condos also quality, very few!)

most condos need 20% down if primary home, 30% to 35% down as 2nd home, and 65% down for foreigners without a green card.

Condo are a lot less of a headache though

Good luck

Phil Moody

You aso want to take into consideration if you are going to need a mortgage. Depending on what building you buy in if it is Fannie approved you may have a hard time. If you are buying a single family house then you will not run into those issues.

Melissa

Hi Sanj,
The quick answer to our question is price. The houses in Miami Beach are very expensive! A smaller house can be in the 300's but a very nice house would be much higher.
The condos do rent easier, again it depends on the price range. Condos do rent well but it rents according to the location, size, pets allowance, etc.

Again, if you would like an opnion of a house I would need to know a price range. My company web-site below is a great resource for searching, the condo buildings are listed by area.

If I can be of assistance feel free to contact me directly,

Beth Jenkins
South Florida Brokers
786-374-4778