Wednesday, April 5, 2017

Why is a broker important when investing?

South Florida is a region with lots of real estate agents. Since the real estate market is one of the safest markets, people are always looking to invest in it, especially in South Florida. That’s why the real estate market in South Florida, especially in Miami, continues to grow every day. Nowadays, you can go online and look for property listings according to the region you’re looking to invest in. However, this doesn’t mean that it’s an easy business. We deeply support the idea that the help of a broker is important when you want to invest in real estate, regardless of how useful the internet can be when searching for properties. Here’s why you should hire a professional to help you keep your money safe!

1)     Even though investors have access to online property listings, a broker has extra knowledge that will help the client choose the best deals according to his/her needs.
2)     A broker is that one person that will make the investor’s life a lot easier, especially if you’re new in the business. Sometimes, an investor can encounter difficulties –procedures, laws, steps to follow, etc., in the transaction (since it’s a big one), and a broker will make sure to solve them all, favoring the investor, of course.
3)     Brokers know every single detail about the neighborhoods they work in. They will help you find the one that best fits your lifestyle. Besides, they can identify the best deals by comparing them to other properties with the same value.
4)     A broker is constantly investigating the real estate market’s condition. This is essential to know how to proceed when selling, buying, or renting a property. This information is also helpful for them to give you a professional opinion on how your investment will behave in the future.

5)     All brokers have vast experience in negotiations. They know the best moves to benefit their clients. A broker is not only a messenger, but a business man capable of persuading the second party to accept the offered deal.

Monday, March 13, 2017

Immigrants and Miami’s Real Estate Market

Miami is one of the most attractive cities in the United States for foreigners. About 51% of Miami’s population was not born in American land, and there is at least one foreign member in more than 70% of household families. The next question you might be asking yourself is: where do they come from? Well, more than 90% of Miami’s immigrant population comes from Latin America and the Caribbean. And they represent half of Miami’s total population.
            Miami is not only a great city for immigrants to visit and enjoy, but also to invest in. A great part of these Latin Americans are investing in Miami’s real estate market every day. Why? Here are some reasons why this city is so attractive for foreign businesses.
1)     Since more than 90% of Miamians are Spanish speakers, Latin Americans find Miami very cozy and comfortable. Immigrants can get the best from their home country, but in the United States.
2)     Investing in Miami is not as hard as it might sound, you only need two licensed realtors for the whole buying-selling process. Also, it’s legal, and property rights usually make investors feel really comfortable and safe when they put their money in real estate.
3)     Miami is a city that offers very low interest rates, and property prices are sometimes lower than in their home country.
4)     The commercial assets in Miami are relatively affordable compared to other real estate markets from around the world. They often offer greater yields at lower costs.

Monday, February 13, 2017

Enjoying Miami at Night

There are two types of people in this world: those who can’t live without daylight and those whose brains are most active after the sun has set. Miami is home to both of them! If you feel you belong more to the second group rather than the first one, here’s a nightlife guide that will help you have fun in Miami.

There are four main spots every South Floridian should put their eyes on: Miami Beach, Downtown, Wynwood and Design District, and Little Havana. In each of them there is a great variety of night clubs and activities to enjoy, and the best part: without wasting too much money.

When passing by Miami Beach, you shouldn’t miss certain key places where you’ll have an excellent time. For example: FDR Lounge, Sunset Lounge, HaVen South Beach, Jazid, and New World Center. However, if you’re less of a “getting a drink” person and you enjoy calmer plans, then you can always go for a walk at Lincoln Road or Ocean Drive.

If you’re looking for fun at Downtown Miami, then The Pérez Art Museum Miami is your place. Every month, they host a social event that includes live music, drinks, food, and a gallery exhibit. This is a free event that only charges the museum admission. You can attend every third Thursday of every month between March and September.

In Wynwood and Design District you’ll find live music at The Stage, which only charges a nominal cover. You can also choose a free walk by the artistic streets of Wynwood Arts District, where you’ll also enjoy food trucks, live music, and other entertainment.

Last, Little Havana is always here to save our leisure time. Every month, Little Havana hosts Viernes Culturales Arts & Cultural Festival, where you’ll enjoy dancing, music, entertainment, and local galleries that open till later hours for people to get the complete artistic experience. 

Monday, January 16, 2017

Consequences of the Election in the Miami Market

Either a Republican or a Democrat, we’re all on the edge of our seats waiting to see what will happen with the real estate market in South Florida after 2016’s biggest moment: the election. Donald Trump and his immigration policies were the big winner of the night, so what will happen with Florida?

So, if South Florida’s population is mostly made up of Latin Americans, does this mean that the real estate market is at risk? At Riches, we have the strong belief that it isn’t.

According to Edgardo Defortuna, president and CEO of Fortune International Group (a residential developer), South Florida’s real estate market will be as stable as it has been for the past ten years. South Florida will continue to be one of the best cities in the US to invest on properties.

Defortuna stated that: “If anything, Trump understands how the real estate market works and many of his supporters are major real estate developers and investor”. And moreover: “All his economic policies are for growth and to create new jobs and to jump-start the economy depending on factories going back to work and real estate booming and I don’t see how that could possibly be a negative impact.” 

Therefore, if anything, South Florida’s migration will keep on as it has been in past years, meaning that the real estate market will continue to grow and develop.

Monday, December 19, 2016

Stability is the ultimate goal

“We’re shifting to a buyer’s market, and sellers may have to adjust their expectations.” Jay Parker

The ghost of the housing market crash from 2008 still worries thousands of new investors and real estate owners around the world. Any minor shift feeds the general paranoia despite of what all realtors and experts on the matter say. The market is finally stable and it’s actually growing, especially in cities like Miami where people from all around the world come to invest.

“The report found that in the second quarter of 2016, the number of home sales fell 25 percent in Miami Beach and the barrier islands compared to the previous year. In greater downtown Miami and its major suburbs, sales were down 12.5 percent annually. Even so, they stayed above historical averages.”
Nicholas Nehamas – The Miami Herald
Experts call this a “slowdown”, but what does this actually mean? It means the market is cooling off as a result of a strong dollar and weak economies abroad. Still, this cooling off doesn’t mean a crash at all. Actually, a slowdown without the risk of a crash means stability in the housing market, and apart from the house prices expected to “drop” in 2017, investing in Miami is still a great idea.

What to expect this 2017?

-A solid market but with our feet back on the ground, or the way Cervera Lamadrid put it: “It just won’t be a runaway season”.

-In June 2016, the Florida Home Price was expected to increase 6.8 percent by June 2017.

-Deals involving office and industrial buildings are still going to be the most attractive ones for lenders and investors.

-Investors from the northwestern U.S. attracted to Florida and willing to double down and plant roots in Miami.

Monday, November 28, 2016

Investing in Brickell

Downtown Miami’s full-time population has increased to nearly 90,000, that’s up to 32% since 2010 and 150% since 2000. What does this mean? What a new report by Miami Downtown Development Authority has confirmed: Young professionals are moving and investing on new businesses in Downtown Miami. Restaurant openings, cranes, and traffic snarls are not just a coincidence.

Out of this 90,000 people increase, about half of them are young professionals between the ages of 20 and 44. They have filled more than 20 new residential towers, built since the last real estate boom.

Whitney McLees, a 30-year-old woman who recently moved to the new Melody Tower, in downtown Miami, said: “There are restaurants and stores popping up all over, and I feel like millennials are really driving that energy.”

It’s not a supposition, but a fact, that Downtown Miami is growing as days pass by. This is why it has become a great city to invest in, since it grows more economically stable every day. Brickell is one of those places that should come to mind when thinking about investing. It’s a very good deal to buy a property and then lease it to generate annual profits. And since it’s growing daily, you’ll be almost always guaranteeing a rental income from that property.

Wednesday, October 26, 2016

Fisher Island on the market!

When it comes to luxury, comfort, and privacy, Fisher Island is the answer. In this tropical oasis, located three miles from the shores of Miami, you’ll find the perfect place to live an exclusive life. This island shelters about 700 families along a private shoreline and around a golf club. Best of all, it’s completely private. No roads lead here and the only way its residents can come in and out from Fisher Island is on a heavily-secured ferry, which only insiders can use.

This island features a shocking amount of amenities, such as: 8 restaurants, including high-end steakhouses, a 9-hole golf course, 18 tennis courts, a large public spa, a small bird-watching area, a private beachfront filled with Bermuda’s sand, and it’s still growing. Even though it’s a small area, Fisher Island also features a small bank, an emergency medical staff (for residents and workers), post office, grocery store, and for the youngsters it has a primary school, jungle gyms, basketball hoops, and sport fields. Fisher Island has it all for its residents and the best thing of all is its safety: the entry process and the island itself are both very heavily secured.

Being one of the most exclusive areas in Florida and the most expensive zip code by square feet in the United States, Miami Riches is pleased to present to you these two amazing properties if you’re interested in buying or renting on Fisher Island.

This one over here is a 900sqft, one-of-a-kind unit, with one room, one bathroom, and a two-water front. You’ll enjoy direct views to the calm emerald waters of Fisher Island’s marina. This bright and spacious property can be easily converted into a two bedroom unit. It’s located at just steps from Fisher Island’s private marina, Island Market, and it’s a golf-cart ride away from Fisher Island’s private beach. This property possesses tremendous potential as a main residence, guest house, or income property. It costs $779,000: a great deal!

However, if you’re looking to vacation on Fisher Island, there are some other offers on homes for rent. This one over here is available for seasonal or short-term leases. It’s a recently updated ground floor seaside villa. It features one bedroom and one bathroom in 710 sqft. If you want the most luxurious, private, and exclusive vacation, then this unit will provide all of this. You just have to contact us for available dates and seasonal pricing schedule. The cost is about $4,000 a month.

Monday, October 10, 2016

New Mega Projects in Miami

Miami is one of those cities that just can’t stop growing. Every day that goes by, more and more projects are being planned and constructed in Miami. This is the way the city tells us that its growth is unstoppable. At this time, there are three main new mega projects going on in Miami: Brickell City Centre, Miami Worldcenter, and Florida’s MiamiCentral.

Brickell City Centre
Brickell City Centre: new retailers are opening here. About 70 stores and restaurants are opening in Brickell City Centre. Among them we can find apparel, fashion and personal accessories, dining, and arts and services stores. Luxury stores will be located on the first floor, while premier and contemporary retailers will be on the second and third floor. By the end of this year, Brickell City will have two condominium towers, two office buildings, and the Miami Hotel. Among the stores, you’ll find retailers such as: Armani Collezioni, Addict, Nars, Pandora, American Harvest, Luke’s Lobster, AT&T, Bojanini Art Gallery, Musart, and so much more.

Miami Worldcenter
Miami Worldcenter: this is a project that has already begun to be built. It has an open-aired concept including a one-to-two story row of retail shops and eateries, along with a plaza space intended as an event place. This project features 300,000 sqft of retail space and 513 condo units. The project is estimated to open by 2018.

Florida’s MiamiCentral: this project will be the last stop along All Aboard Florida’s rail line to Orlando. It is a nine-acre project which will include 200,000 sqft of retail space and four mixed-use towers that will rise above the trail tracks. This rail service –named Brightline, will transport millions of people each year and it will stop in Miami, Fort Lauderdale, West Palm Beach, and Orlando, giving a very easy and practical access to MiamiCentral.

Monday, September 5, 2016

Four Seasons Brickell

One of the most exclusive condo towers in Brickell center is now on sale. As an investor it is an excellent opportunity to buy, as a tourist a perfect one to rent. Let yourself get the best from Brickell, a city where comfort and luxury are the main attractions. Brickell is known as the “Fifth Avenue” of Miami, since you can find a lot of foreign embassies, major banking centers, and an exciting blend of retail, office, hospitality, entertainment, and residential attractions. The Four Seasons Tower will place you on the epicenter of this exciting, international, business city.

Also, at Four Seasons Brickell you’ll find a great variety of amenities, such as: 24-hour concierge services, high-speed internet connection, personal computer in rooms, spa, access to Sports Club, two pools, and, best of all, excellent location: minutes away from malls and nightlife in Coconut Grove, South Beach, Coral Gables, and Key Biscayne.

Miami Riches offers an amazing unit at this luxurious tower, to rent or to buy. It is the lowest priced unit in the building, so you cannot let this opportunity go away! It’s a completely furnished studio apartment in this 5-star hotel. You’ll experience breathtaking views of the bay and the ocean from the 30th floor. Perfect for corporate rental or business executive. If you’re concerned about your daily foods, don’t worry, it has in-house restaurants and catering to your unit. Also, it comes with one parking space and one storage. It can be purchased for $450,000 or rented for $2,000 a month.

Look no more, you know deep down that a unit at the Four Seasons Tower is all you’ve ever wanted. Contact Miami Riches to start your investing journey and start experiencing the Florida lifestyle!

Monday, August 15, 2016

Michael Schwartz’s Gastronomic Experience

If you’re looking for an awesome place where to spend time while enjoying innovative fashion, design, architecture, and dining experiences, then Miami Design District is the answer you’re looking for. Miami Design District is an excellent destination to have the best shopping, cultural, and culinary experience: all in one place!

Visiting Miami Design District will probably make you hungry; all those restaurant smells will make you crave for a nice meal. To have the best gastronomic experience, you have to visit Michael Schwartz’s Genuine Food & Drink. Here, you’ll find a laid-back atmosphere and really delicious food. Their secret is to make food that’s homemade, unpretentious, delectable, and with great local ingredients. They look for the highest-quality products for their plates.

If you go for a Sunday brunch – which we genuinely recommend – then you’ll experience the best plates, including everything from a breakfast pizza with local farm egg and house-smoked bacon topping to playfully decadent childhood treats and lemon ricotta pancakes. It’s the perfect place to enjoy with the whole family.

Michael Schwartz has also delighted us with a second, also very delicious, restaurant located at Coconut Grove, Miami, named Harry’s Pizzeria. Enjoy the best wood-oven pizzas, plus different Italian snacks such as fried polenta, warm Brussels sprouts with Italian cheese salad, and a great variety of entrees and desserts to choose from. It’s the perfect place for an excellent family dinner or to take your date. You won’t be disappointed with the food quality, they are very cautious with its preparation, since they take so much care of the ingredients they use.

Visit Michael Schwartz’s Genuine Food & Drink and Harry’s Pizzeria for an extraordinary meal and gastronomic experience!

Tuesday, July 5, 2016

How to feel like home in your MORADA: a view from MORADA HAUTE FURNITURE BOUTIQUE

Investing on a new home means fixing it to create your dream house. Look at the empty spaces, close your eyes, and imagine which piece of furniture would achieve that desired look. Which one are you missing? Perhaps a chair, a couch, a table? Which color? Which texture? Look at the spaces around you, look at the walls, at the floor, at the textures and colors, which piece of furniture would answer to your needs?
Home is the most important investment you’ll ever make. Be sure that your memories, and your family’s, are being built in a beautiful place. MORADA HAUTE FURNITURE BOUTIQUE is an excellent place for you to look for the perfect piece of furniture. They’ll know what you need and they will help you look and decide which one your home needs.

MORADA’s work is so amazing because it translates from inspiration. Having traveled around the world has given its creators, Fernan Hernández and Holger Odestein, lots of experiences to get inspired by. Once you see their work, you’ll understand the fascination that these unique pieces generate. They offer the best quality artistic design to create the perfect spaces.

MORADA HAUTE FURNITURE BOUTIQUE (which means “home” in urban Spanish) is located at 3701 Biscayne Blvd., Miami Design District. FL, 33137. If you are around, don’t hesitate to visit these two artists’ own personal temple. You’ll find yourself fascinated by the store, the designs they have to offer, and especially by both artists. Get yourself inspired in Miami and feel that same inspiration when you get home and see one of these unique pieces every day. MORADA HAUTE FURNITURE BOUTIQUE is the perfect combination of luxury, elegance, and art. 

Friday, June 3, 2016

Mexican Cuisine in Icon Brickell

A Mexican hospitality group selected Miami as the site for its first U.S. outpost of Cantina La 20, because they see this magical city as the bridge between Latin and North America, with a worldly crowd who will appreciate this exciting concept.

Cantina La 20 is a luxurious Mexican restaurant located at the ground floor of Icon Brickell, where this Latin cuisine is receiving high-end treatment because of its many deeply regional, decidedly complex dishes whose origins date back thousands of years. It offers representative dishes of each state of the country, with traditional techniques and is constantly updating its menu and the chef’s recommendations.

The restaurant has a monumental bar along with one of the larges tequila and mezcal selection in town and a bar manager who creates delicious and sophisticate cocktails.

When you walk in, you see Mexican Art Deco architecture framing through its brilliant black and golden colors, and pieces of art selected from the most important craftsmen of Mexico.
We like that the staff is intricately familiar with each dish and its ingredients and they're happy to make recommendations, while being impeccably dressed, each sporting an electric-pink bow tie.

You should know that bookings are essential –especially on weekends or when dining with large groups. After you go, let us know if you liked Cantina La 20 as much as we did. 

Monday, May 2, 2016

Luxury Waterfront Residences

Whether if you are looking to buy or rent, Icon Bay is waiting for you! This luxury building is located in Downtown Biscayne Bay waterfront, just moments from Miami’s future, because there are a number of other developments coming on the horizon: the new Museum Park, the new permanent home of the Miami Art Museum, the proposed Resorts World Miami, a $3 billion, 10 million square foot casino, convention center, hotel, and more. This area is experiencing a long-term growth and now is the best time to invest on it.

Icon Bay is an exclusive 43-story concrete and glass structure with an undulating façade, inspired by the rippling waves of the bay, which reflects the artistic nature of Miami with sleek style.

All residences offer complete flow-through floor plans, breathtaking views from the floor to ceiling windows of every unit, private elevator access, spacious outdoor terraces, gourmet European kitchens and luxurious bath experience.

The sale price for a one-bedroom unit starts at $588,000. For other condos with two or three bedrooms it could go from $849,000 to $1,250,000. Rental rates start at about $2,800 for a one-bedroom, about $3,500 two-bedrooms and $4,600 three-bedrooms.


Friday, April 1, 2016

Rents around Midtown Miami

The cost of a condo versus a house depends on the size of the home, the property values of the neighborhood and the cost of living in the area. But typically, you'll spend less on a condo.

When living in a condo you'll pay dues to a condominium association, which will take care of most of your maintenance needs. You don't need to worry about landscaping, yard maintenance and physical labor activities like snowplowing, road maintenance, and roof repair.

People in condos tend to live in a close proximity. There are always social moments that occur throughout the day. Whether it be to take the trash out or pick up the mail, there are opportunities that one just doesn't get in a home.

If this is the kind of life that you’re looking for, there’s a pocket-sized neighborhood with broad appeal, outdoor cafes, and fine food purveyors all snuggle into an invitingly collection of streets and shops, where you can rent some fantastic condos - Midtown, you’ll be next to creative hotspots like Wynwood and Edgewater, and also perfectly positioned to experience mainland destinations like Brickell.

We gathered great opportunities for you to live here:

Unit with breathetaking views, motorized shades, tile throughout, with natural sunlight and dimmers. With great amenities - high speed internet, security, full concierge, 24 hour valet parking, 2 pools, gym, sauna, party room, convenience store/cafe and theater.

Rent: $2,800 /Month
Community: Quantum on the Bay

This home offers stainless steel appliance, quartz counter, high ceilings, floor-to-ceiling windows, exposed concrete ceilings, balcony with amazing city view. State of the art amenities, 24 hour security, concierge, fitness center, infinity pool, Jacuzzi tub, sauna, steam room and valet parking.

Rent: $1,800 /Month
Community: Four Midtown Miami Condo
Rent: $1,800 /Month
Community: Four Midtown Miami Condo

Spacious 2 bedrooms and 2.5 bathrooms condo with many upgrades, including hardwood floors, kitchen with matching island, window treatments, closets & high end lighting fixtures. Floor-to-ceiling windows and generous balcony with amazing city and bay views.

Rent: $2,800 /Month
Community: Two Midtown Miami

To keep on looking go to

Sunday, March 27, 2016

Miami Tops the List of Markets with the Most Cash Buyers

By Satinder Haer

Miami real estate often steals the spotlight. Whether it’s due to being one of the hardest hit markets during the housing bust or the location of a celebrity’s newest beachfront penthouse, Miami gets its fair share of attention. Now, the city has another claim to fame. Recent data shows that Miami has the largest percentage of cash buyers out of the 51 largest major metros in the nation.

If you’re considering investing orpurchasing in Miami, use this information to make an informed decision. Understanding your market and competition is necessary due to the local nature of real estate.

Changes in Miami Real Estate

Miami’s history shows that the city is no stranger to real estate fluctuations. After the burst of the real estate bubble, Miami home prices and sales fell dramatically—many investors stopped buying homes and regular home buyers were hesitant to purchase. As a popular investor and vacation home market, the slowdown was not a surprise. However, as home sales bounced back, investors once again flocked to Miami and spurred the city’s recovery. In 2012, cash buyers made up 70 percent of the home sales in Miami. While the percentage of cash deals in Miami has dropped in the last few years, Miami is still one of the hottest cash buyer markets.

Even the government is taking interest in the astonishing number of cash deals taking place in Miami. In January 2016 the U.S. Departmentof Treasury announced that title companies handling cash deals in this market will have to reveal the name of any buyer spending more than $3 million. This new regulation will likely impact investors, especially foreign investors who cannot obtain U.S. mortgages and therefore typically make all-cash purchases.

How Miami Compares to Other Florida Metros

Florida is a hot-spot for cash buyer markets. Eight of the 10 top cashbuyer markets as of Q2 2015 were located in Florida. Miami led the way as the number one market with 55 percent cash home sales. Sarasota, Fort Myers, Daytona Beach, Tampa, Lakeland, Melbourne and Orlando followed, respectively. Orlando, which was tenth on the list of top cash buyer markets and ranked eighth of the Florida markets, had 44 percent home deals—a full 11 percent less than Miami. Despite the fact that cash deals inMiami have actually gone down from other years, Miami still leads the other cash buyer markets in Florida by a large percentage.

Implications for Buyers

Buyers who are looking at homes in Miami will need to take the large percentage of cash buyers into account. Investors who are willing to put down a lot of cash, or even purchase the property outright, may be more competitive in the Miami market. Many of the cash deals already being facilitated in Miami are likely from investors and could be your competition. On the other hand, investors who purchase high-end or luxury properties may need to consider the implications of the U.S. Treasury’s new disclosure regulation.

Regardless of which situation applies you, use this information to arm yourself before you buy your next property. Knowing the influence of cash in your market can help you make strategic investment decisions.


Monday, March 14, 2016

Miami Design District Restaurants

Miami’s Design District has a distinctive sense of style and poise that makes it more than just a neighborhood, it’s the pinnacle of art and luxury. However its gastronomy can’t be left behind. The best restaurants in the area bring great sensory pleasure with a whimsical interplay of flavors and textures in their food. For those with an impeccable palate, here are four standout restaurants at Design District you shouldn’t miss.
Dedicated to recreate dishes that are simple, rustic and authentic to the villages of Greece and Turkey, with an Old World style wine list that perfectly pair with the food. Gather with your family or friends to be delighted by the smell of fresh baked bread, roasted lamb, grilled fish and homemade specialties. Tripadvisor

Harry’s Pizzeria
Comfortable place, with a casual atmosphere to gather and share local and craft beers, homemade snacks, salads, specials featuring seasonal ingredients and thin-crust pizzas, cooked in the restaurant’s wood-burning oven. With floor-to-ceiling windows, rustic décor and a focal piece painting by local artists. You must experience one of the top restaurants in Miami. Tripadvisor
Through the use of green market sensibility, they serve Italian dishes that scream with flavor to impress your palate, using ingredients selected on the basis of quality, harvest maturity and farming integrity. It’s considered not just one of the best and best-looking restaurant in Miami, it’s also one of the best in America. Tripadvisor

This bakery and cafe offers cakes, pies, and pastries of unparalleled quality to satisfy your sweet tooth. It also serves delicious breakfast, lunch and mid-day snacks and pastries. Taste delicious baked goods in a cozy, country shabby chic décor. Twitter
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