Investment opportunities for 2020

Foreign entrepreneurs have found multiple reasons to live and invest in Miami, especially Hispanics and Latinos due to the privileged location, the city's logistics infrastructure, and its great aerial interconnection, which have turned the state of Florida into a strategic commercial bridge.

In the past, Miami was considered a tourist, beach city, or as a stopover to reach other U.S. destinations. Now the southern part of the state is the most desirable destination for business executives to invest in.

The real estate sector has been growing strongly in recent years, so the trends in apartments for sale in Miami have been changing, offering many advantages for people who come and go to the city for business or other activities, and want to buy an apartment in Miami to enjoy their stay by having their own place in the city, and rent it to generate income when they are not in the city.

The favorable conditions of investing in Miami have created a market, which, according to experts, is at its best.

Investing in Miami is being considered as an important source to generate profits, that's why we’ll tell you about the 8 opportunities you can't miss during 2020 to invest:

1. You don't necessarily have to pay 100 percent of the price of the property. There are excellent financing options for everyone, including foreign investors. Generally, the bank will ask a new investor between 20 and 30 percent as a down payment to approve the loan.
2. Another great advantage of investing in Miami is that they do not require strict control by the investor, it does not take much time and can be monitored remotely. That is very attractive to foreigners.
3. Statistics show that property values rise steadily and constantly.
4. Real estate has tax benefits, which makes it more attractive for investors.
5. The average rates for mortgage loans range from 4.5 to 7.5 percent.
6. It is the second state with the highest income per person in the Southeastern United States.
7. It is the third state in the United States in the creation of new jobs.
8. Florida is ranked as the third most dynamic state in the U.S. in the construction industry.

All real estate developers agree that Miami has become an international city in the last five years. It has activities 24 hours a day, from world-class museums to sensational theaters, fabulous stores, exquisite restaurants, and an incredible sports arena, lots of creativity and vibrant economic development.

What other reasons do you need to start enjoying the wonders of South Florida?

The 5 activities you can't miss this November

This November is full of activities you can't miss! From live entertainment to family events. A new pop festival in South Beach, the Auto Show is back again, the Miami Book Fair, and how to forget Thanksgiving dinner. That's why we'll tell you about the top 5 activities South Florida has to offer this fall:

1. Santa's Enchanted Forest: The world's largest vacation theme park, Santa's Enchanted Forest returns this season at Miami's Tropical Park. Enjoy mechanical games, shows, games, a 92-foot tall Christmas tree, and more than three million Christmas lights. Ride the Ferris wheel, a roller coaster, or play in a funhouse.
2. Miami International Auto Show: A Miami institution, known as one of the best auto shows in the nation, this event has been in existence since 1971. An exhibit of more than 40 automakers, including vintage cars on Memory Lane.
3. Miami Book Fair International: one of the nation's premier literary events. More than 450 authors visit the city to share readings and discussions about their work. The pedestrian street fair also includes antique dealers, illustrators, editors, and on-site authors. Founded in 1984, each year, the Book Fair includes famous authors and literary giants who visit to enjoy Miami's November weather and celebrate new and old literature.
4. Island Music: This live concert celebrates a variety of genres and styles that encapsulate the spirit of Sunny Isles Beach.
5. Thanksgiving: Give thanks to Miami's Best Restaurants, many of which organize special lunches and dinners to celebrate Thanksgiving.

Tips for Buying Coral Gables Vacation Property

The Florida real estate market has come back with a vengeance and is clipping along at a fantastic pace.  Prior to the market collapse, many were seriously considering buying vacation homes.  Those who bought at the time have already reaped the rewards of increased value to the property they purchased while others decided to wait.   For those who waited, the dream of owning a vacation home is back on this list of possibilities. 

If you are ready to dive into the home buying waters and considering a vacation home, here are several tips for buying Coral Gables vacation property to make sure you make an informed decision:

Decide How You Want to Use It.  The first thought that comes to mind when buying a vacation home is to decide how you want to use it.  Do you want to keep it strictly as a home for you to stay at your discretion (your friends too) or do you want to buy a vacation home as a rental investment?  In this part of Florida, there is a huge market for rental property especially during the winter when the “snowbirds” fly south to escape the cold – the past couple of winters in the winter have been brutal.   It is common for vacation home owners to only use their property for as little as a couple of months a year so the idea of using it as rental property may be a great way to make it more affordable.

Choose the Type of Property.  Prior to buying a vacation home, you need to choose the type of property you want – single-family or condominium.  Much of this is based on whether you want to use it as a vacation rental.  Coral Gables condominiums and single family homes are always appealing to second home buyers because of the rental potential.  There are several advantages to owning vacation property in condominiums including the ability to put your property in a vacation management pool within the condominium for greater rental possibilities and built-in amenities like a pool, a marina, reserved and valet parking and more. Single-family homes draw those who want more privacy and an atmosphere similar to being at home.

Rent First.  Before you buy a vacation home, be sure that you rent in the neighborhoods or condominiums in which you are interested.  You can speak firsthand about staying there to potential guests and decide if you will enjoy your time there.  Renting always helps you know your likes and dislikes.  

Ask About the Rental History.  If you are considering a second home for investment purposes, ask about the rental history.  You want to know what you are getting with your investment.  For properties that have not been used as rental property, you can look at comparable properties that do have rental histories to see the potential income.

Consider the Additional Financial Obligation.  A second home will have additional financial obligations especially at the beginning.  That is why it is important to know a general idea of the expenses that accompany your new home – initial expenses during the purchase as well as the monthly expenses that any homeowner pays, taxes and insurance.   Even if you buy a second home with an established rental history, rental income typically does not cover ALL of the expenses involved. 

Work with a Local, Experienced Realtor®.  Probably the best thing anyone thinking about buying Coral Gables vacation property is to work with a local, experienced and Florida licensed Realtor®.  A Realtor® that knows which neighborhoods or condominiums best meet your needs as a resident (and rental property owner) provide you with a wealth of information and knowledge to help you make an informed decision.