Miami now is an excellent market for this kind of investments. There is a lot of demand for single family houses in some areas. Many young families are outgrowing these new beautiful Brickell condos. When they go out looking for a house they feel very disappointed since most of the houses do not have the nice kitchens, bathrooms, walk in closets, floors, modern lightning design and layouts. This buyers do not have the patience or resources to buy a house and remodeled it, nevertheless they are willing to pay for something they feel comfortable and ready to move in. So the market is there! Now, the other part of the equation is to buy the right house at the right price and have the right team of people (General contractors, realtors, lawyers) to get this done as smooth as possible. This business is not easy task and sometimes very frustrating for some people, I actually enjoy it very much. Returns are tighter than people might think but it is a great investment, taking into consideration that you can pull about 20% average return on your investment is not bad at all. I do this for myself and my clients, I have an excellent team that understands the business and the fact that if you make money in one flip next time you might be doing two at once. If you want to discuss further please contact me. I will be happy to help you and solve your questions.
Looking forward to hear from you.
305 8035800 Cell
If you purchase in the right area and most importantly at the right price and renovate the home, you are adding more value to the home, therefore you should be able to sell it at a profit. Their are foreclosures, shortsales, etc. abound, and there are many opportunities abound to make money in this market. If you have any questions or concerns please feel free to reach out to me.
Keller Williams Realty Partners SW