A guide for new investors in the real state area

Investing can be a challenge for those who don’t have enough experience in real state. Some people have become rich from real estate without much knowledge about investing, but if you’re thinking of a long-term investment, there are important things you should consider:

1)  Study the opportunities: Study the characteristics, conditions and opportunities of your real estate investment. The best thing that you can do in this business is thinking of all the details.

2)   Be patient: Remember, real estate investment takes time. If you are planning a long-term investment, you will not see the results immediately.

3)  Study the location: You should know everything about the area that you are planning to make an investment in. A touristic place, parks, malls, activities done during the year, famous places; all these things increase the value of your property.

4)    Make smart decisions: Investing can be a confusing process; you need to try to be a smart investor. Spare all the money possible, don't get carried away by feelings and ask all the questions you need.

5)  Contact an expert: This is the most important thing when you want to make an investment. Keep in mind that a realtor has all the experience that you don't have in the area. A realtor can help you clear all your doubts and help you choose the best option; just be sure to find a good realtor you can trust.

Real estate investing can really be conceptually simple, but keep in mind that "simple" doesn't mean "easy." If you make a mistake, consequences can range from minor inconveniences to major disasters. You could even find yourself broke, or worse.

But don’t panic! Our team of professionals can help you in all this process, because at Gables Riches your peace of mind comes first.

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!

Midtown Lofts Miami

Named Midtown Lofts Miami, this piece of Coral Gables real estate is a boutique condominium built in 2006  with 14 stories and only 99 residences of which 85 are loft residences and 14 are traditional condominium units.  While it is often billed as a ‘Miami’ loft condominium and sits at the edge of Miami, it has a Coral Gables address.  As for location, it offers a straight shot to Coral Gables, Coconut Grove and Brickell.  It is just as close to Coral Gables’ Miracle Mile as it is to Brickell or the up and coming Design District with other popular areas in South Florida being just a short drive away.

As a well-sought after address in Miami and Coral Gables, Midtown Lofts was designed by Cohen, Friedman and Encinosa.  Other recognizable area condominiums from Cohen Friedman and Encinosa include Gables Marquis in Coral Gables, the  Mutiny and Grove Isle in Coconut Grove, and Related Lofts in Miami just to name a few. 

Midtown Lofts Miami Amenities

Midtown Lofts Miami is a wonderful place to live with so much to offer its residents.  Not only does it have a primo location, it features everything from a fitness center with sauna, an outdoor pool with pool deck off the fifth floor, enclosed parking as well as building and parking access controls to a relaxation garden, concierge and 24-hour security. 

Inside each residence, there are open floor plans ranging from 633 to 1300 square feet, ceilings rise up to 10 feet and floor to ceiling sliding glass doors that open up to nice balconies with beautiful city and water views.  The kitchen is open and welcoming with granite counter tops, stainless steel appliances, European cabinets, and more.  A great bonus is that all of the two-bedroom units have wine coolers in the kitchen.  In addition to the lofts and traditional condominium residences, there are also two-story townhome lofts available.

Real Estate at Midtown Lofts

As for real estate, Midtown Lofts is one of Miami/Coral Gables’ sought after condominiums.  It offers affordable and gorgeous Coral Gables real estate is ideal for first time buyers and vacation home owners alike.  In addition, these are excellent real estate investments because of their affordability.  List prices for the eight units currently for sale range between the low-$100s for a studio and mid-$400s for a two-bedroom unit.

So far, in 2013, five units have sold between the low-$100s and mid-$200s.  When looking at the average number of days on the market, average for these five properties is 209 days but that includes one property that took over 960 days to sell.  By taking that one out of the mix, the average dropped to only 20 days – less than a month. 

In terms of Coral Gables rental properties, investors can expect to receive $1,500 to around $2,500 per month for rental rates.  This makes for an excellent investment property as the community is more affordable than others around it.

Close to Everything

Not only do the Midtown Lofts offer an open and contemporary loft to call home, the condominium is close to everything.  Living here allows easy access to pretty much every popular area in South Florida.  This is a great, great place to live.