Im thinking of buying a rental property in west byscayne

Asked by Max, Jamaica, Queens, NY Sun Jun 22, 2008

Im thinking of buying a rental property that I can afford in west biscayne, is that a good move?
I'm worried about not getting my rent every month.

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Joseph Poras, , Miami Beach, FL
Sat Jun 28, 2008
Im thinking of buying a rental property in west byscayne
Im thinking of buying a rental property that I can afford in west biscayne, is that a good move?
I'm worried about not getting my rent every month.

Hi Max,
I would worry too. The sales market now is overloaded with inventory and owners are turning to rentals. I would watch the market carefully and see how the rental market holds up in September. You will not get the cash flow now that the previous owner got, as rents are decreasing.

All the best,
Joe
0 votes
Anabelle Taub, Agent, Aventura, FL
Sun Jun 22, 2008
Hi Max:

I actually have my own property up for sale in the Design District ( it's a tri-plex). The income on it is $3350. It's for sale in the upper $300's. It's located on the east side of the Desigh District. I am happy to discuss it with you personally. You may call me at 786.547.5471 or click on my contact info here on trulia and send me an email.

Looking forward to speaking with you. If I do not hear back from you than I wish you much luck in your future real estate endeavors.
0 votes
Fred Mateo, , Miami, FL
Sun Jun 22, 2008
Rather than offer my help I would like to ask you: Will you be financing this property? If so, What percentage will you be financing?

I have investors buying right now, the market is right for investments but they are buying cash and achieving about a 6 or 7 per cent return on their money.
0 votes
RN, , Miami, FL
Sun Jun 22, 2008
Hi Max,
I'll be happy to help you, as I work in Miami-Dade county. As Bill said, this is the perfect time to invest in an income producing property.
But tell me what you mean by "West Biscayne" .. there is no such neighborhood by that name, but if you call me, we can talk about the best places to find good value for your investment.
0 votes
Bill Eckler, Agent, Venice, FL
Sun Jun 22, 2008
Max,
This is a great time to be considering buying. Prices have come down, sellers are motivated, and there are deals to be found. As to your rental worries, it's all about screening your renters and finding dependable people.

The "Eckler Team"
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