Home Buying in Miami Beach>Question Details

Ankur, Other/Just Looking in 53711

I am looking at buying a condo in the Miami Beach area for investment purposes. Which sub-division/location will give me best return on my investment.

Asked by Ankur, 53711 Fri Sep 23, 2011

Once I buy something, I will like to put it up for rent for next couple of years. Will appreciate responses from the group

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BEST ANSWER
Hi Ankur,
Since I have run into your question on 2 sites, I decided to do a search and have picked 10 units along the beaches from Hallandale to South Beach that are 2 bedroom, well maintained, and are in buildings that I know are finacially stable. I included a few a little bit further from the beach, but only a quick 5 minute car trip, just to show you what you can get for your money.

Here is the link:
http://sef.mlxchange.com/DotNet/Pub/EmailView.aspx?r=6811470…


I did not include unnaproved short sales, for reason which I would discuss with you. If you were to delve into the distressed property maket there are better ways to approach it than an unnaproved short sale.

I hope this helps you to get an idea of what is out there,

Beth Jenkins
South FL. Brokers
786-374-4778
bethjenk1@gmail.com
Web Reference: http://www.arealtyteam.com
0 votes Thank Flag Link Sat Sep 24, 2011
The most expensive neighborhood. For $250k you options are NOT endless. It actually will be rather hard. NoBe has been an underperformer.
1 vote Thank Flag Link Fri Sep 23, 2011
Hi Ankur, depending on your budget, The South of Fifth (SOFI) area in Miami Beach is one of the most sought after. Prices hold and rents stay higher in that area. We have a listing at 208 Jefferson Ave #115 that could be rented for more than the mortgage, which would be perfect for a live-in home or long term investment.

Best Regards,
Leif Bertrand
BRG
1 vote Thank Flag Link Fri Sep 23, 2011
Hi Ankur,

There are many places in Miami Beach where you can get a great property for a very good price. Please let me know what your 'must haves' are so that I can send you some properties in the area. In the mean time, please feel free to browse my site http://www.jlorealtor.com to begin your search.

Thank you and I look forward to helping you out!
Jennifer
Web Reference: http://www.jlorealtor.com
0 votes Thank Flag Link Wed Oct 26, 2011
HI,

You have a lot of nice place in Miami for investment.
On south beach, you can find a lot of condos very interesting for an investment between the 5th and 20th street like "The Mondrian", "The flamingo....
Downtown is also a good place for investment, a lot of families rent in Brickell.

Can you give me more information about your research (budget, s.q, bedrooms...) ?

Email: mroche@freudrealty.com

HAve a good day
Web Reference: http://www.freudrealty.com/
0 votes Thank Flag Link Mon Oct 24, 2011
Come on in, and let's do our comparables.,. Please call me so we can get started.
Thanks!
Bret Barnett #305 807 9566/Mario Rodriguez, Renter's Cafe
bret@realtors-miami.com
0 votes Thank Flag Link Sat Sep 24, 2011
Great question Ankur!!
I am a Realtor on Miami Beach and live here as well..I am also a Pet Owner and have knowledge of Pet Friendly buildings here in the Beach- There are many questions to pose and to answer by you, all points previously mentioned are good- but let's make this simple-
First, what you should think about -all specification/requirements of what you think you would like to have in the property
Then, do You see this property at some point a place for you to use
and the best way to decide and really look at it, is too see different properties and the costs of those properties...to narrow and clarify all the different sceneraios.
You see the Beach is the Beach- anywhere you go it is good- however, different areas cater to different people and the needs of those persons..
It is Simple...let's not complicate things so much!!
Call me to speak to me about a plan of action if you are ready!!
Thank you Again for a great question!
Marlen Elias,®SFR
RESF,llc
786-306-3824
marlen@resf.com
0 votes Thank Flag Link Sat Sep 24, 2011
Good Morning Ankur,

While the Miami Beach area is not my main area of sales, I have done a few sales this past year and of course there are many factors you will want to take into consideration, some of which have already been mentioned. With a budget of $250k, if you are looking for a 2 bedroom you would need to go further up Miami Beach north of 60th, however if you are looking for a 1 bedroom you would have quite a few posibilities. When looking on the beach, buildings that offer onsite/assigned parking would be your idea, as street parking on the beach can be quite burdensome. The other factor to consider, whether you are paying all cash or financing part of your purchase, is the financial soundness of the condo association. With all the problems with foreclosures there are many buildings that are not in a good financial state, you will want to check that out as one of the top priorities. Also would you be looking for a high rise or a smaller older building, the diferrences here would be the amenities and the monthly association payments varying dramatically. I know of a few smaller buildings that are , what I consider hidden gems, but are no frills buildings. Your best best is to find a realtor you can speak with and establish a working relationship with, and that agent can send you information on a variety of condo currently available, and as new units hit the market you will know the very same day. Good luck in your search, if you have any questions please feel free to contact me.

Lila Lopez
RE/MAX Advance Realty
305-772-2521
0 votes Thank Flag Link Sat Sep 24, 2011
Hi Arthur,

I have the perfect investment property, located a block from Lincoln RD. Feel free to call me at 305-401-1254.

Patrick Green
0 votes Thank Flag Link Sat Sep 24, 2011
Hi Ankur,

Please call me at your convenience on 305.815.0880 and we can help.....

We have a large amount of experience in investment property.

Many thanks

Alistair Powell
The Brits
ONE Sotheby's International Realty
305.815.0880
info@themiamibrits.com
0 votes Thank Flag Link Fri Sep 23, 2011
Ankur, I'll be more than glad to talk to you and schedule some showing, please PM me, or give me a call to coordinate.


Daniel Korzeniewski
Florida Gold Realty
(786) 247-5226

danielk@realpropertiesflorida.com
0 votes Thank Flag Link Fri Sep 23, 2011
Hi Ankur

There are several things you need consider besides the location, like how much are you actually paying for the property, if you're buying cash or financed... what's your ultimate goal? Do you want to become landlord? or just buy and hold the property for a few years until appreciate?

When thinking about investments is not just about the location, you have to see the whole picture and establish your goals, then analyze what's the best option to get there.

If you want to have a more in depth conversation, please feel free to contact me, I can certainly help you to reach your objectives.

Daniel Korzeniewski
Florida Gold Realty
(786) 247-5226

danielk@realpropertiesflorida.com
0 votes Thank Flag Link Fri Sep 23, 2011
Thanks for the great answers. I forgot to mention that my budget is around 250K. So would appreciate if I can get some views on what I can get in this price range that has a good appreciation pottential.
0 votes Thank Flag Link Fri Sep 23, 2011
Hi Ankur,
Thanks for the great question!
The options are endless, but can be narrowed down by several factors. the building must allow rentals the first year of ownership (most do, but there are exceptions), and your price range.
Any location within walking distance to the beach is good, directly on the ocean is great, as far as rental return goes. You also have to take into consideration the maintenanfe fee monthly, which can seriously impact your return rate.

I really feel the 'NOBE" are is the most up and coming and has some moderate to upscale properties, some brand new and some a little older but in great condition. That area is the very center of Miami Beach, between 60th and 80th St.

My company web-site below is a great tool, and will direct to Nobe by name, bvut certainly Surfside, and South Beach are good as well, but take a look to see what you can purchase for the amount you wish to spend, and give me a call to discuss.

Speaking with several realtors will give you and idea of their experience and customer service level. I would be glad to speak with you regarding your choices and answer any question.s Call or email me at your convenience and I will be glad to help you with you property search and selection.

Beth Jenkins
South Florida Brokers
Bethjenk1@gmail.com
786-374-4778 (direct)I
Web Reference: http://www.arealtyteam.com
0 votes Thank Flag Link Fri Sep 23, 2011
Oceanfront - South of Fifth Street....

- http://www.dBa22.com
0 votes Thank Flag Link Fri Sep 23, 2011
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