Miami Beach, Coral Gables, and Coconut Grove are all good areas for investment property, but other areas around town offer great rental opportunities with less turnover in tenants. Keep in mind that with tenant turnover, your carrying costs increase. While finding the right location is important, finding the right tenant is important to think about as well.
Good luck in your search and feel free to contact me with any questions
Thanks again, Thomas
I'm a Pro in Bal harbor and sunny isles beach,I would recommend you invest wisely into these
two areas,for there prestiege and luxury,and your property value always rise in my area,so you will be able to ask top dollar in this market when renting,its worth paying alittle more for a great return over and over,infact our inventory is so low right now vacationers are having a hard time finding anything in bal harbor,your property would be in hot demand always.Pl call me so I can assist you in finding the right investment property for you.305-300-8540 cell
M.Kotler Realty Inc.
I work in Bal Harbor Miami beach/sunny isles.these are the most preteigous areas on Miami beach,right now we are very low on inventory due to demand for luxury rentals,I would recommend
You consider these two areas,not only for there value and pretiege,but for your return dollar wise,you
will be able to have these condos rented all year round at top dollar.As an Expert in these area you will find my services invaluable to you in selecting the right condo.My cell is 305-300-8540,
M.Kotler Realty Inc.
All areas of South Florida have a strong rental demand, there is a very low vacancy rate.
The issue is more what you can buy within your budget. You are mentioning rather expensive areas, so you have to work within your parameters. I feel contacting a realtor that you find here on Trulia to get the listings that meet your budget and go from there. You will still have the rental income and the equity you will build in the property, it just may be in a little different location.
If you would like further assistance feel free to contact me at your convenience.
South Florida Brokers
If you'd like professional advice from a 30+ yr experienced Broker, Investor, property manager for other, select, private clients and a homeowner myself, to help you find & buy the right properties please complete below and I'll schedule a no obligation consult with you.
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1) Do you own properties now? If so, what type of properties and where are they located?
2) What specific type of property are you looking for? -
As an investor myself I would not buy into condos; a) you don't have control over the condo assoc & tenant approval processing times that are up to 20-bus days by State Law; b) when the market crashes they are the 1st to go & they go the lowest; c) your appreciation rate is governed by what the bldg does, its management & board, of which you have little control or no control just for starters.
3) What is the geographic area that you would like to be in (they need to be specific)
All you've mentioned are prime areas and the price range you're looking in will not work very efficiently. Miami is a highly transient city, Miami Beach & Brickell being the highest of the 4. Gables and the Grove are more stable, except for your price points
4) What is your budget per property?
$200 - $300K ... you're better off putting your eggs into different baskets and trying to parlay and leverage your money with other peoples (i.e. finance your purchases)
5) Will you be financing your purchase or paying cash?
Very important consideration as to where, what, why & how ....
6) Will you sign a buyer representation agreement with me/Keyes? The reason is that many good investment properties are not listed and you will have to pay the buyers commission into the deal.
I'll see if I hear from you further to determine the next steps. Best regards,
Firs Service Realty
La mejor area para invertir y poder rentar rapidamente aqui en Miami sin duda alguna es el area donde cada dia hay mas personas que necesiten de viviendas, y que se puedan comprar propiedades a precios bajos pero que se puedan rentar a buen precio y de inmediato. Brickell, Miami Beach, Coral gables Coconut grove, Doral son areas donde yo compraria para vivir yo, mas no para invertir para rental.Aparte de Realtor siempre estoy invirtiendo en propiedades para rentar y no tengo ninguna en esas areas para la renta, solo tengo una en Doral que es donde vivo, las otras las tengo en otras areas.
Si deseas conocer mas donde son las mejores areas para invertir contactame directamente y te puedo ayudar.
Real Living. First Service Realty
For a consultation with one of our residential investment specialist call 786-704-8482; also visit our website for more information about south Florida neighborhoods and search new properties for sale.
The Condo Shop | Decorus Realty
I have personally written couple articles how the rental rate skyrocketed in Sunny Isles Beach and Aventura due immediate proximity to the beach . The rental rate itself increases 10%-15% every year. There are certain buildings withing your price range where you can also rent for a season and amost double the monthly rate during high pick season .
Brickell is another great place to invest.
Please let me know if I could help !
Tatiana Kolomiets Licenced Realtor
Keyes Real Estate