Miami Real Estate Consultants

The recent decline of real estate market in Florida is a result of many contributing factors, most of which can be attributed to the surplus in development of the area. As a result, today the market offers inventory at 50% less than in 2008 creating great medium to long term opportunities, especially for secondary or vacation homes.

Unlike New York, Miami practices require a buyer to submit a proposal by signing a purchase contract and leaving a deposit. As such, it is necessary to execute all negotiations at the initial stages.

To profit on real estate investment opportunities in Miami is quite complex, therefore the following considerations should be made:

  • risk/reward relationship;
  • quality of the investment and specific location;
  • legal and mortgage issues: various bankruptcy proceedings allow to purchase apartments, land, buildings and mortgages at great discounts at the moment;
  • investment financing and newly introduced financing requirements;
  • specific quality of the asset: structural conditions, legal and financial situation of the sellers, tenants' quality, rent opportunities, insurance;
  • investment length (2, 5, 10 or 20 years);
  • realistic return of investment projections;
  • personal reasons and use, if any, of the investment.

The estate is singled out depending on the investor's purposes, trying to assure the greatest potential profit and optimize the ratio between risk and profit.