Real Estate Market on 2017-2018

The real estate market is the most stable one. It’s a fact that a real estate investment is a safe investment. But in order to make it safe, you have to make it right. From some time now there has been a lot of talk about a global economic recession estimated for 2017-2018. By that time, Miami Dade will be completing a lot of new buildings that are great investing opportunities.

So, you might be wondering how to act knowing about this possible recession. Well, prices are going down in all of Miami Dade County, so there will probably be a lot of good opportunities for investors by 2018 in the high-end market as the prices start to adjust and it’s prudent to wait and buy then. However, for 2017, we recommend investors to make small investments and buy $150K units, which they should rent with a long-term mindset.

A low income unit is a wise investment if there is a recession since these cheaper units may not go down in demand. In case of a recession, there may be more demand for rental if people are making less money in the next 3 years, which is why they’ll look for cheaper residences to live and renting is always more accessible than buying with a lower salary.

Therefore, be wise and invest wisely. The real estate market is a safe one if you play your cards well. Gables Riches offers all kind of assessment in this kind of matters. Don’t hesitate to contact us if you’re looking forward to go ahead on time and make right decisions for your money.

WeWork Station in Brickell City Centre

Brickell is one of those places where everyone feels comfortable, while living a luxury lifestyle. Not only for its exclusiveness, but also for the wide variety of accommodations the city has to offer. Brickell City Centre is just one of those projects that exemplify Brickell’s lifestyle. This project features not only residences, retails, and hotels, but also offices and work spaces.

Imagine yourself working in an office located just steps away from the ocean’s immensity. Brickell City Centre offers that and more through the recently opened WeWork Stations in the building. Have an attractive working experience in the second tower of Brickell City Centre. Rent an elegant, private, and modernly designed working space from $400 to $4000 monthly.

WeWork offers workers a private patio where to relax and enjoy the view and the Miami River. On your spare time you can also visit the mall or give yourself a treat in an exquisite restaurant. It’s an excellent place to be productive, while enjoying yourself.

In WeWork offices you can rent a hot desk or a private office: you’ll find a great variety of space options depending on how many people your company needs to shelter. A hot desk is excellent for those users who need a 24/7 available working space, without having the need of renting an entirely private office. Private offices are directed to those businesses that need complete privacy for their employees. You can rent offices for up to nine people, but you can contact them if you’re sheltering even more workers.

For either kind of rented work space, the amenities offered by WeWork are: communication team, cleaning, phone cabins, meeting rooms, printers, high-speed internet, coffee, weekly events (workshops, classes, happy hours, etc.), and common areas.

Christmas in Coming!

The most wonderful time of the year is almost here and Miami likes to celebrate it big time. In the city you’ll find a bunch of activities and places to visit with your family and spend time with them. Fill your soul and theirs with the Christmas spirit! Here’s a list of the most attractive activities of our city:

·      Santa’s Enchanted Forest: If you’re a fan of Christmas trees and lights, then this is the right place for you! In this enormous Christmas-themed amusement park you’ll find a 92” Christmas tree and over 3 million lights. Enjoy many live shows, games, magic acts, mazes, rides, and carnival food. It’s an excellent place to visit with the whole family, especially with the younger kids for its variety. Santa’s Enchanted Forest will be open untill January 8.

·      Christmas Tree Lighting at Bayfront Park: The day just after Thanksgiving (November 25, this year) is the first official day of Christmas. This day, Bayfront Park will unveil its 50-feet-tall tree covered with lots of glittering lights. The idea is to spend the night waiting for the tree lighting while enjoying holiday music and food trucks.

·      Winterfest Boat Parade: If you’re a parade person, then you can’t miss this one in Ft. Lauderdale on December 10. You’ll enjoy thousands of lights and the Christmas spirit sailing the intercostal waters. Anything can be expected from the sailboats, yachts, barges, gondolas, and kayaks that will be lighting the night.

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The Annual Living Nativity: Every year, at Miami Shores Presbyterian Church, a live, open-aired reenactment of the origins of Christmas is organized. Not only are the characters represented by real actors, but you’ll also see live camels, donkeys, goats and sheep, along with digital and live-action characters, and of course: an amazing choir. It’s a great place to spend the night with your kids and teach them about the origins of this holiday.

Bayside’s Update

49% of the nearly 30-year-old waterfront shopping center in downtown Miami, Bayside Marketplace, has been recently sold, and Zyscovich Architects, Ashkenazy Acquisition and General Growth Properties have already revealed their plans. They intend to completely renovate the installations.

The renovation will be divided into several phases. In phase I, the renovation includes covering 140,850 square feet of common outdoor space, new paint scheme for the building, piers, bulkheads and exposed structures, new flooring for the upper level, new stairs and railings, restrooms, signage, lighting, landscaping and graphics.

This mall already features about 150 stores and restaurants, such as Fat Tuesday, Hard Rock Café, The Gap, and Victoria’s Secret. However, future phases will add more retail space along Biscayne Boulevard and will also expand the two-level parking garage, almost doubling its size.

The most recent additions to Bayside Marketplace are Segafredo and a future SkyRise Miami. This is the real jewel. The SkyRise will be a 1,000-feet-tall entertainment and observation tower. It will feature a vertical adventure park with flight simulators and bungee jump platform and also nightclubs to dance all night long.

We’re eager to see its outcome!

Coral Gables and Coconut Groove Gastronomic Delight

Florida is well known for its great cultural diversity, which reflects on its gastronomy. In Florida you’ll find a great variety of different restaurants where to taste the best and most diverse food. If you crave for it, you’ll find it in Florida.

The Spillover

Recently, Coconut Groove welcomed two more new hot restaurants: Glass & Vine and The Spillover. At Glass & Vine you’ll find a perfect place to have brunch, lunch, or dinner. Its menu is focused on locally-sourced fresh ingredients inspired by the natural surroundings. Also, it’s a very beautiful place to hang out. It has a waterfront, 2,320 sqft of outdoor space with white quartz tabletops and orange chairs, a 24-seat bar, open kitchen, open patio area, and vine-covered roof.

At The Spillover you’ll find amazing local seafood dishes, great wine, cider, and meats. It seats up to 70 and features a Camilo Rojas’ mural. It is a great place to go for a meal, the food won’t disappoint you and the drinks will spice up your day!

Ms Cheezious

Also, at Coral Gables, another new restaurant is welcomed to the city: Ms. Cheezious. In here you can delight yourself with the best self-built grilled cheese sandwiches. You can ask for an already-made sandwich or you can dare to build a personal one. Play with ingredients and flavors to get the best from Ms. Cheezious.

Visit these new food locations and calm your cravings with the best quality gastronomy. Let your mouth get delighted at Gables!

Glass & Vine

Property Management Services

Investing on a property is no easy thing to do and it shouldn’t be taken lightly. You are about to put your money in some serious business. This is why Gables Riches always recommends you to invest hand in hand with a professional. A little advice will help you make the best decision and will increase the chance of future profits from your investment. But, once you have already invested, then who’s taking care of that property? This is the time when the owner should think about hiring a property management company.

Here are 5 reasons why you should hire a property management company:

1)    Workflow: most investors have no idea how much work it takes to own and manage their investment. Property inspections, staffing maintenance personnel, and other issues that may arise in the day-to-day of owning a property take up a lot of time from you. To avoid this, a property management company will take care of it all.

2)    Legal issues: there are lots of local, state, and federal laws to consider when you collect rent and deal with property management. A property manager will make you stay on the right side of the law.

3)    Rent collection: most real estate investments are to obtain money from them. Collecting rent money is probably the least glamorous aspect of all, leave it in a property manager’s hands.

4)    Marketing expertise: property managers know how the real estate market runs and will help you obtain the highest possible rent and avoid long vacancies on your property.

5)    Tenant issues: regardless of the type of property you’ve invested on, it’s probable that sooner or later you’ll have issues with your tenants. Late rent payments or squabbles between neighbors, they can all give you sleepless nights unless you hire a property manager who takes care of it all.

Gables’ Renovations

 When thinking about Gables, the first thing that comes to mind is: comfort and luxury. Coral Gables, or City Beautiful, is renovating its infrastructure every day to become the most comfortable city in America.

One on Gables’ most recent projects is the enhancement of Miracle Mile. This $21.6 million project’s main goal is to renovate the whole shopping, dining, and celebration experiences, by creating an artistic, pedestrian-friendly Downtown Coral Gables. The project has an approximate timeline of 18 months, which started in mid-April. 

This is not only a project intended to make Gables a better city, but it is also a project with artistic intentions. According to the company in charge of the construction, this project is an artistic masterpiece which will most likely result in an award. Natural stones cut from Spain are going to be used for the sidewalks, and the design mimics the effect of rain descending upon a pool of water.

Also, the Museum Parking Garage #2, at 220 Aragon, and Merrick Place Parking Garage #6, at 51 Aragon, are facing some major renovations. These include painting, lighting, repair of elevator lobbies, replacement of doors, and so much more. However, during renovations, the garages will stay open. Merrick Place Parking Garage will be the first one to be renovated and then contractors will move on to Museum Parking Garage.

The constant investments on Coral Gables City are what makes it one of the most beautiful and comfortable cities to live in. Every day, the authorities are allowing and investing on more and more new projects and renovations of old ones to keep perfecting this city for its inhabitants. Go, Gables!

Miami on the Runway

About five years ago, Miami was fascinated with the arrival of Naeem Khan, an Indian designer who moved to the US in the 70s to work in the fashion industry. Khan is eager to give back to America what it has given to him in his career. This is why the designer is now on the move to reinvigorate Miami’s fashion industry roots.

Nowadays, Miami’s fashion industry has to do more with nightlife and swimwear. However, Khan’s plan is to expand Americans perception of the city. He’s planning to build his company’s future headquarters. It will comprise a space of about 70,000sqft, along the Miami River. This project –design, production, and licensing, is estimated to be completed by late 2018 or early 2019. Also, designer Rene Ruiz has been running his brand in Miami for the past 25 years. He opened a 10,000sqft factory in 2013 in Miami. He currently oversees 60 employees.

Both Ruiz and Khan are laying Miami’s underground to finally establish the fashion industry in this city. This year, the Miami Dade College will offer a degree program in fashion design and merchandising, since without educated people the industry will never emerge.

 Also, Miami’s Design District is putting Miami as a major player on the luxury market. Dacra and L Real Estate joined to transform the neighborhood, with intentions of investing on its creative side and making spaces for business, for more and more brands to get inspired on these new concepts. In 2015, big brands like Hermès, Dior, Louis Vuitton, Marc Jacobs, Cartier, Givenchy, Loewe, and Tom Ford, among so many others, were attracted by the Design District.

Every day, more and more fashion players are coming to Miami to continue their careers. There has been a special migration from New York to Miami, like in the case of Kelly Framel, also known as The Glamourai. It seems Miami is on its way out from just being a swimwear, nightlife city and on its way into the runway.

Monarc: Luxury and Comfort

Downtown Miami offers the most luxurious tower in the city: Monarc at Met3. These high-rise apartments are located in the heart of the downtown area, where you’ll find everything you need without having to travel long distances. Monarc at Met3 offers residential luxury and unprecedented access to Miami’s vibrant lifestyle. The tower is within walking distance of Miami River Lake, Bayfront Park, and American Airlines Arena. Also, you can enjoy an invaluable ocean view from your own apartment.

Some amenities that come with each unit are: island kitchens with stainless steel appliances, washer/dryer in the unit, air conditioning, balcony, patio, deck, new and renovated interior, oversized closets, and amazing view. Also, Monarc at Met3 is pet-friendly!

The community features business center, clubhouse, fitness center, full concierge service, gated access, media center, pool, recreation room, and trail for: biking, hiking, or jogging. It’s the perfect place to enjoy life, or to vacation, without having to leave the building.

Start enjoying Miami, Monarc at Met3 is the perfect option if you’re looking for luxury and comfort. You won’t be disappointed with the lifestyle it has to offer. Contact America Riches if you’re looking forward to give yourself the lifestyle you deserve!

Top 7 Properties to Invest

Choosing the right property to invest on is not an easy task. There are so many details we have to take into consideration before deciding which one we should buy. If you are looking forward to investing on real estate, America Riches will help you make the right choice. We want your happiness and your money to be safe. So, if you are thinking on real estate investments, here’s a list of the top 7 properties you should consider.

Student housing

1.     Senior housing: this kind of property is experiencing an upward demand. Its renting rate is increasing daily. This type of property offers the best risk and return profile right now.

2.     Student housing: at the beginning of 2016, the pre-tax yield for student housing properties was 7.6%. An investment on student housing is generally in line with long-term trend, it is the best performing sector year-to-date in the REIT space.

3.     Suburban office: office vacancy has dropped 20 basis points in 2016. This means job growth and therefore economic stability. Investors should consider suburban offices, since they are one of the few property types that are showing recovering growth.

4.     Flex big-box warehouse: this is one of the healthiest industrial sub-sectors, driven by demand for e-commerce tenants.

5.     Self-storage: this sector is becoming more accepted as an institutional asset class. Right now, it’s showing higher cap rates, solid NOI growth, and low cap-ex. Self-storage is pleasing great income expectations.

6.     Neighborhood Community Centers: this type of property, just as fortress malls, is very powerful since it’s carrying the retail asset class. The firm rated neighborhood community centers with 6.4 out of 10.

7.     Street retail: this type of property has been a very trending one on the past few years, with cap rates in gateway markets dropping below 3%. There has been a recent uptick demand on street retail spaces.

Street retail

Flex big-box warehouse

Investing in Miami is Still a Safe Decision

When looking for a new home or a place where to spend your vacations, Miami always comes to mind. Not only will Miami offer you an excellent lifestyle, but it also comes with a great environment, amazing weather, excellent schooling zones, beaches, infinite recreational areas, great job offers, and best of all, economic stability. Miami is still one of the safest places to put your money in, and real estate is one of the most stable markets of all. If you are thinking about investing on a new property, here are some reasons why Miami should be your first choice.

·     Miami is the eighth largest growing city in the United States, and it’s growing daily. Thousands of people are moving to Florida every day.

·      85% of Greater Downtown Miami is under construction. Products to be delivered in 2016 are pre-sold.

·        Over the next 3 years, 100% of the inventory under construction in Greater Downtown (about 7,200 units) will be delivered.

·     More than 80% of the new condos sold over the past three years were obtained allcash, without bank financing. This means a tremendous amount of equity and very little bank exposure or default risk.

·       The most important worldwide city for high worth individuals is New York City. On a 10 year projection, Miami and New York will be the only two U.S. cities for high worth investors.

So, Miami is still one of the safest cities to invest. Whether it’s to purchase a vacation home, a primary residence, or just as an investment, Miami is an excellent choice. This city has everything to offer in terms of quality of life. And numbers don’t lie; your money will be safe in Miami.

Little Havana: the best of Miami but with lower prices

Since prices have been rising around Downtown Miami and the surroundings of Brickell, investors have decided to revitalize and redevelop Little Havana. Rents are being pushed up while keeping a high level of demand due to limited affordable rental inventory. The upside to this market trend is that a potential buyer could replace the current Section 8 tenants and replace them with tenants who pay market rate. The units in the complex measure about 651 square feet, with a mix of three studio/one-bath condo, 48 one-bedroom/one-bath units, and 28 two-bedroom/one-bath apartments.

In fact, Key International places low-rise apartment buildings in Little Havana on the market. They are asking for $12million for all the units. The portfolio includes: 10 two-story rental properties at 931 Southwest 3rd Street and 910 Southwest 2nd Street in Miami, 79 units, and 51,774 square feet of rental space. Each unit costs about $152,000 and $231 per foot.

Little Havana has become a potentially commercial and it’s a magnet for multi-family investments. For residents, rental and sale property prices are significantly lower than in Downtown Miami or Brickell. Still, its location is pretty good, since it’s very close to Brickell. Little Havana has everything that Miami has to offer, but with lower prices. Investors see it as a great opportunity and they have their hopes high in the potential of Little Havana.

New Inventory coming up in Miami

A new inventory is about to be released in Miami. About 7,200 units, which are currently under construction, will be delivered in the next three years. Several big projects are being developed in this city.

For instance, the new Brickell City Centre will be inaugurated this year. This is so far the biggest project in Miami. About $1.05 billion dollars have been invested on this mixed-use development. It is located in the center of the Brickell financial district (between 8th and 6th Street) and it is believed to provide the most sophisticated and urban living experience in the area. The Brickell City Centre offers 5.4 million square feet of office, residential, hotel, retail, and entertainment space. This means 243 hotel rooms, 89 exclusive apartments, and 790 residential units distributed in two towers. It also includes a variety of stores and restaurants that will provide the most amazing experience in Miami. For example, the biggest Apple Store in the south of Florida, Saks Fifth Avenue, a Cinemex, and Porsche Design, among other luxury stores.

And the best complement for the whole Miami experience is the Brickell Heights project, opening in 2017. This new project consists of 358 residential apartments, spread among 48 floors. The apartments will have different sizes –between 676 and 1276 square feet, including big balconies. This Related Group project ensures a sophisticated and unique design and quality of the condos. The living experience in Brickell Heights will include a movie theater, a billiard club, a glamorous pool, playing rooms for kids, and concierge service. 

           

Miami is all about new projects trying to fit your interests and needs. As time goes by, more and more innovative developments are being carried out; at this moment we are very excited for the new inventory Miami has to offer. It is the perfect time to think about investing, since we are being given an extensive variety in terms of design, comfort, and prices.

Multifamily Project

A multifamily project is a mine of benefits. It is the perfect way to invest in a personal home that can produce a certain income. When buying a multifamily project, either if it’s a duplex, triplex, or quad, you will always have the open possibility of living in one of them and renting the other(s). This would give you a monthly income that could help you pay your bills and offset a part of your mortgage payment. So, as an investment, a multifamily project is a very safe one, especially for first-time buyers.

Also, the American Council for anEnergy-Efficient Economy (ACEEE) is engaged in a project that is dedicated to saving between 15% and 30% of energy in multifamily projects. Regarding water, there’s an estimation of a 6% savings. So, living in one of these properties would be a smart decision. They have lots of economic benefits and offer the perfect means to reunite with your family.

This project over here consists of a main house with three bedrooms and one bathroom, and a separate two-story building with two units, each with two bedrooms and one bathroom. This means: seven bedrooms total! It is a perfect place for a big family that is looking forward to more quality time together.

The main house features many original details. It also has an amazing front yard where your kids can play or where you can organize a get-together with friends or other family members. The house also has a very charming porch with fruit trees.

This family project is located at 4727 NE 1 Ct, Miami, Florida, an area where prices are continuously rising. The main house is currently occupied by owners and its rent price is $3000 a month. As for the two-story units, each can be rented for $1000 a month. If you are looking forward to buying, the whole project has a price of $699,000. A great deal!

This structure has lots of potential and economic benefits. It is well located; very near Biscayne Boulevard, where you can find anything you need: Publix Super Market, Bank of America, CVS Pharmacy, restaurants, and much more. Don’t miss the opportunity of sharing with your family in this beautiful place!