Home Buying in Miami>Question Details

Alexa, Home Buyer in Canada, KY

I want to invest in rental property(s) in miami thinking of the casino project which could make the area more atractive for investors . some ideas ?

Asked by Alexa, Canada, KY Sun Jan 22, 2012

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Our wildcard here in Doral is the Doral resort. The news has reported that Donald Trump has made a bid for the property, and in what may or may not be a coincidence, there are now reports that the same resort may have asked to have one of their courses rezoned Commercial from Industrial. I think the biggest upside potential may be the two low-end communities that border the course - Las Vistas and Doral Gardens. Even if none of these reports are true, they're a pretty decent investment with some units selling for less than $100K, and rents exceeding $1000 per month. Send me an e-mail, and I'd be happy to send you some listings and some analysis.
0 votes Thank Flag Link Mon Jan 23, 2012
Downtown and Brickell is the area the casino will built in and these areas are having a rebirth now we just broke ground on the brickell city center being built by Swire and the property values have gone up 20% in the last year . The casino project's will just incourage the property values in the next couple of years . I live and work in this area. My company Fortune International we are develpers in the this area.

Call me I can help you find something great,

Gia Oliver

786 344 4669
0 votes Thank Flag Link Sun Jan 22, 2012
Lars,
Some of us are not into football! LOL!!
And possible neither is Alexa.....

Beth Jenkins
South Florida Brokers
786-374=4778
beethjenk1@gmail.com
Web Reference: http://www.arealtyteam.com
0 votes Thank Flag Link Sun Jan 22, 2012
interesting how many colleagues answer that question on Sunday night........
0 votes Thank Flag Link Sun Jan 22, 2012
Hi Alexa,
Miami has been a great city for investors for several years now. The casino project might or might not become a reality and it is so far down the road that it really should not even be a factor in your decision.
Inventory that gives a good return on your investment sells very quickly and it will not be found around the
casinos areas, you have to look further south in Miami Dade or north in Broward. It is a great time to purchase a property in Miami given the lower prices, for a consultation feel free to contact me.
Regards,

Patricia Nieto
Realtor
District Sales Manager Assistant
The Keyes Company
2423 Le Jeune Road,
Coral Gables, FL 33134
305-753-3540 cell
0 votes Thank Flag Link Sun Jan 22, 2012
Hi Alexa,
There are already some casinos here in Miami, both in The Hallandale and Hollywood areas. There are many condos in these surrounding ares.
With or without casinos the area is extremely desirable for investors, with the idea of holding a property and renting it. We actually have a shortage of good rental properties in the area, mostly because of the foreclosure situation in the past few years. All of the displaced owners and tenants now need a place to live.

There are many factors to consider when looking at property for rental purposes, as well as if you are a cash or finance buyer.

I would be glad to assist you and to anser any questions regarding your options. I have helped many others who are now successfully renting their properties and having a good return on their Investment.

Feel free to contact me at your convenience and we can see what options are best for you.

Beth Jenkins
South Florida Brokers.
786-374-4778
bethjenk1@gmail.com
Web Reference: http://www.arealtyteam.com
0 votes Thank Flag Link Sun Jan 22, 2012
Yes.
No.
The casino project is years down the road, if it ever happens. Even if were approved today, it would be years before it was built, meaning that your funds would be tied up in a less-than-decent ROI property. If your target is the workers, it is highly unlikely that they would be able to afford to live in proximity to the casino; they would be more likely to live in Western Dade or Broward Counties. The properties close to the casino would very likely be over-budget for them, unless you count the older buildings along 8th St and Flagler. Those might be affordable, but not very desirable.
If you want to invest in income property, better to find something in an active area that will produce good ROI
Web Reference: http://www.myriamshomes.com
0 votes Thank Flag Link Sun Jan 22, 2012
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