Don’t settle for less. Demand more.
I always make a habit of writing my own articles. I have yet to find a good virtual assistant substitute for my own thoughts.
As much as I am an optimistic person I do not believe the best days of the real estate market in South Florida are ahead. Quite the opposite. They might be over. It is my opinion that as the end of the year approaches and we embrace the New Year, there will be a slight change in market momentum. I wish I could point out the precise moment this shift will occur but I’d rather not fool myself nor you into believing I’m a guru or genius. I am just a guy keeping his eyes open. Wide open.
When it comes to investment properties, if your asset is not going up, even if it remains flat, it’s going down. That begs the following question: With current market prices, do you sincerely believe there is ANY appreciation left in South Florida? If so, how much exactly?
…are where our clients are getting above average returns superior to those of Miami, Broward and West Palm Beach. In a perfect world everyone would buy their rental properties 15 to 30 minutes from where they live. Why?
Because that’s how our fathers and grandpas did it and that’s what most know and believe to be right. Don’t get me wrong, that was a terrific piece of advice back in the 60’s. It is not practical anymore. Fortunately we live in a modern world full of technology and tools our ancestors would have gladly paid huge sums of money for and the best thing about it is: we get them for a cost of $0. Yes. zip, zero, nada. If you are getting your minimum acceptable rate of returns, you are settling for less than what you deserve.
Not everybody will agree with me. And that’s ok. I will always tell you the truth even if we disagree. But the fact is that today most transactions are being conducted by individuals over-leveraged and undercapitalized, even cash buyers. And when you are paying more for a house in Miami Gardens than the price of a 4Plex a short drive away, that is certainly an indicator that something is wrong and will probably not continue that way for long.
Keep in mind that if you are getting solicitations from other investment companies sending you properties in South Florida only, they are not giving you all your options nor have your best interest at heart.