Unless you get an extraordinary deal - and even then you have to be extremely cautious and look what actually sells in the building you consider, and at what prices - I would strongly advise against what you inquire about.

On condos in Miami, a hold time of several years (plus a rental market flooded with unsold units) should be part of your entry and exit strategy. If that still sounds acceptable to you, picking a good local realtor in that specific market would be your next step.

All the best,
Tobias

Djazzy

This would not be a good time in South Florida and probably not anyehere else. Besides the turmoil of the overall market if you were to make a profit there would be a 15% capital gains tax plus if you hold the property less than a year the profit becomes regular income on your personal income tax.

DJAZZY,
GENERALLY SPEAKING, THIS IS NOT THE MARKET TO BE CONSIDERING "FLIPPING." HOWEVER, THIS BEING SAID, OPPORTUNITY HAS THE ABILITY TO TAKE ON MANY DIFFERENT FACES.....THE OPPORTUNIST MUST BE ABLE TO MAKE THE DESTINCTION BETWEEN A GOOD RISK AND A BAD ONE TO BE ABLE TO SURVIVE THIS GAME.

THE "ECKLER TEAM"
CENTURY 21 ALMAR & ASSOCIATES
VENICE, FL 34285

flipping is risky right now
save your money

anyways

good luck

Far TOO many condos for sale in MIAMI! Wouldn't touch the area..
jim soda 941-809-7759 prudenial palms realty jimsoda@prudentialpalmsrealty.com

I would generally tell you that it would not be a good investment, but that could be a generalization. It depends on the price you are buying at, the building, location and view of the unit. I would also recommend that you look at average time on the market for closed sales in the particular building you are looking at.

Djazzy, I would not do that if I were you, especially in Florida.

Khazeem Asadullah