Wednesday, August 5, 2020

Have you thought about investing in real estate in Miami during the pandemic?


Despite finding ourselves in a unique situation in the world, which has completely changed our lives, we can still think about the idea of ​​investing in real estate in Miami. Here are some of the reasons why you should do it:

1. Supply and demand:

Right now, life has changed for everyone, and the need for a home is essential. Being at home and working at home is life today; therefore, investing in real estate could guarantee a home that could be appreciated in the future.

2. Low interest rates:

In June of this year, due to the coronavirus pandemic, mortgage interest rates reached a record low. So, if you've wanted to buy a home, this is the ideal time. The low mortgage interest rates have caused investors to reduce the rates of loans and private loans.

3. Economic uncertainty:

Many companies have closed their doors to keep social distancing; the pandemic has generated many problems in the worldwide economy. Many people will be looking to sell that second home that they have at a good price, given the economic uncertainty in which we live.

These are some of the reasons why you should invest in real estate in Miami. A perfect climate coupled with a unique property purchase opportunity is at your fingertips!


Source: https://www.entrepreneur.com/article/355259

Sunday, July 5, 2020

Differences between investing in real estate and buying real estate in Miami

 


Have you ever wondered what the difference is between investing in real estate and buying a property in Miami? Here’s some information for you to take into consideration:

If you would like to invest in real estate, it is important to know how to do it. One of the main differences between investing in real estate and buying real estate is that when you invest, you put market needs before personal interests or tastes.

If you are going to invest in real estate in Miami, make sure to check:

-       The location of the property

-       Nearby services and amenities

-       That the property is in good condition

-       That the property is located in an area with high added value

When you buy a property, your emotions and tastes are involved, whereas when you invest, you take other factors into consideration, like, for example, the square meter price of a property.

Remember that if you are interested in investing in Miami, you should consult a Real Estate Market Report, to know the capital gain, the time on the market, the gross rental profitability, the price-to-income ratio and the price-to-rent ratio.

Monday, June 8, 2020

What are the ideal properties for singles?


The road to building your own home can be both challenging and exciting at the same time.  It is true that starting life in a place all by yourself might be harder than if it were with someone else. However, Miami is the home of many uprising artists, entrepreneurs, and bachelors who seek for a brand-new start on their own.

 

Choosing the apartment


One of the many advantages of acquiring a home by yourself is that there are no debates, long discussions, or give-and-takes. However, even if this is no longer part of the challenges, buying as a single person has its tricks. That is why at the beginning it is useful to consider a large unit with roommates or a smaller property. Your first home won’t be necessarily your last one after all. In Miami, the options for studio apartments and one-bedrooms are limitless, covering your space needs with affordable prices.

Another great option for first home owners are condo-townhomes, which are valued approximately at $190,000. These townhomes are usually located in community neighborhoods and might resemble single-family properties (they usually share a wall with the neighbors and have a yard and a parking spot). Why are these properties good options for singles? Besides the space and functionality, these properties are great candidates for selling when it is time to move out (that is why looking for properties that appeal to married couples, even while being single, is a great hack).

 

 

Considering areas

 

Along the apartment itself, choosing a good area in Miami is critical for any newcomer. An area that fits your interests and hobbies is the perfect opportunity to create connections and establish professional and personal relationships.

 

Some of the greatest areas for singles in Miami are Coconut Grove, one of the oldest in Miami, with a big market for townhome condos and an amazing nightlife (cinemas, cafes, restaurants, malls, etc); Coral Gables, the home of the University of Miami, great for nature and art lovers; Brickell, one of the most chic and cosmopolitan areas in the entire city, where you can both work and have fun; and, finally, the famous South Beach, with its nightclubs, hotels and beautiful ocean views.

 

At Miami Riches, we are waiting for you to start your own adventure!


Monday, May 4, 2020

How has COVID-19 affected the world of real estate and its perspectives in Miami?


“Real estate development is the business of evolution”. Bruce Eichner, founder of Continuum Company (Forbes, 2020).

 

We couldn’t agree more with that statement. It is a reality that the Coronavirus pandemic has changed permanently our way of living and our ways of doing  business. Real estate is (and will keep on) changing, perhaps faster and on a bigger scale than any other field, now that people understand the importance of a space that can serve as a home, as an office, and as a recreation area. In the new normality we will soon approach, many components of this industry are bound to be reinvented. For some, like Eichner, these changes are still not outlined, but for other figures closer to Miami, the path to follow is a bit clearer.


Miami then and Miami now


Dan Kodsi, the developer of Paramount Miami Worldcenter, is well aware of the new paradigm the city is facing. The first thing that comes to mind is the post-COVID-19 focus on health, for owners and investors as much as for everyday personnel. Is this really that much of a change in a world that was already going in that direction? Well, for Miami, it is indeed.

 

Renowned as one of the largest cosmopolitan destinations around the world, the city’s expression of its architecture is rather extravagant, luxurious, and even pompous, while its focal point regarding practicality is aimed to the shared spaces and community amenities. Right now, those aspects are being outshined (and might even seem risky) by the preservation of a global well-being, that only occurs in self-isolation. Like this, there are many new inputs for the real estate world in the post-coronavirus era, such as the use of materials, automation and virtuality.

 

 

A futuristic present

 

Maybe it is quite difficult to imagine a bigger virtual impact than the one we are already experiencing; however, it will be the main vehicle for the human connection we cannot do without. Moreover, not only the utilization of new, more sustainable materials, but their means of distribution are other major targets in the new upcoming reality. And finally, the key to the new real estate businesses and properties is based on principles of automation: a world with fully contactless systems. Things such as face and iris recognition might seem brought out of a futuristic movie; however, these technologies were already being implemented before the virus outbreak and were only enhanced by it.

 

 

COVID-19 has been only an example of how quickly we must be able to adapt to new circumstances. In a world that is changing in such an accelerated pace, it seems that the only way to stay on top of business is to embrace the only matter that is always constant: change itself. Here, at Miami Riches, we are prepared for it. 

 

Sources:

Taylor, P. (2020). Real Estate Will Never Be The Same Post Covid-19. Forbes. Retrieved from: https://www.forbes.com/sites/petertaylor/2020/04/23/real-estate-development-will-never-look-the-same-post-covid-19-realtors-and-architects-should-pay-attention/#49f77af96f2a

Thursday, April 2, 2020

Top 5 Tips to Carry Out a Safe Investment in Miami


The city of Miami has changed immensely in the past twenty years or so. Rather than being the predilect spot for the veterans and the retired, it has become one of the most glamorous and praised cities in the world. Nowadays, Miami is synonymous with urban architecture, design, and above all, culture. The city of sun has welcomed millions of immigrants, from Cubans, to Brazilians, Colombians, Venezuelans, Jamaicans, etc., who are part of the reasons why this city is so varied in tastes and colors*. Currently, the Miami International Airport (MIA) has direct connections to some of the largest destinations in the world, throughout the European and even the African continent.

 

All of this has turned Miami into one of the top investment opportunities, so whether you are an individual looking to protect your assets or a businessman who wants to take advantage of the many options this city has to offer, the reality is that the best time to invest is now. That’s why we have compiled a series of tips for you to start a successful journey in the real estate business in Miami.

 

1. Set your goals

This is the first step towards every successful investment, so ask yourself: what do I want to do? Is it buying a property for rent? Or fixing a property to increase its selling price? Is it investing in new constructions? It might even be owning a vacation home that can also be used for rent during the regular seasons, for example. There are plenty of options in this field, so in order to know how to proceed, you must know what you want to achieve.

 

2. Design a short-, mid- and long-term plan

Once you’ve set your goals, it’s time to start materializing them. As any investor, you must plan your moves, and this is highly intertwined with the previous tip. What is your projection one year from now? And five, ten years from now? Is it producing an extra income? Or recovering the total amount of your investment? This part will help you outline the route to achieve your goals.

 

3. Research

Nothing entails more confidence than a good research. Take the economical and geographic elements into consideration. The management figures (meaning your investment capital, state taxes, fees, etc.) and the operational system of the transactions will help you spot the options that are more profitable, also considering that Florida is one of the states in the U.S where rents are more common than home purchases. As for the locations, Miami is pretty versatile, and depending on your plan, some locations will be more suitable than others. For example, Coral Gables and Coconut Grove might be perfect for a large family; for newlyweds, Brickell and Downtown are the best options; while locations like Wynwood or the Miami Design District might be the dream choice for young entrepreneurs or artists.  It will all depend on your vision.

 

 

4. Build a contact network

Getting to know your local bank, or even the people that live in the neighborhood you’re interested in goes a long way. Establishing connections (and having a good credit score, by the way) will build trust for future loans if you come across a good deal. Moreover, asking for the opinion of locals will provide a unique insight into the market.

 

5. Contact professionals

Going through all the process on your own might seem overwhelming, so having professionals to help you offers nice reassurance. Certainly, you’ll need real estate lawyers, brokers, agents, with not only expertise in the field but with your best interest in mind, and here at Miami Riches that’s exactly what we’re aiming for. So, if you’re ready to embark on this journey, we’re more than prepared to be there with you.

 

Diving into the real estate world is simpler than it looks; just follow these few tips and, with our help, your way into Miami’s investment business is secured.

 

 

 

*According to the American Immigration Council, one in five Florida residents is an immigrant.

 


Monday, January 6, 2020

Prepare for January in Miami


Miami is well known for its warm, sunny year-round climate, but not even the sunny city can escape the winter. January is one of the coldest months of the year to visit Miami; temperatures range from 16 to 24 degrees Celsius (61-73ºF). There are few rainy days in January, which makes it a great month to travel.

If you are asking, is it possible to take a dip in the ocean in January in Miami? The answer is yes. If you choose a sunny day with little wind, there is no problem bathing in the ocean, but it is not recommended, because the temperatures are low.

But don't worry! Today, Miami Riches shows you the best options that the city of the sun has for you during January.

If your main objective is to visit the Disney theme parks in Orlando, the beginning of the year (January and February) is the ideal time. During the first two months of the year, the weather is quite good for outdoor activities, and the influx of tourists is lower. Since it is a low season, you will find lower prices and better deals.

In January, you'll also find the calendar full of exciting and interactive ways to experience Miami's most diverse and culturally diverse neighborhoods. Only in Miami you can explore a museum dedicated to the city's first black policemen, or take an ecological history tour of a semi-hidden beach, and eat ice cream inspired by the flavors of Cuba; you can find this and more at Miami Art and Heritage Months.

We can't forget the South Beach Jazz Festival, a music festival featuring talented artists in a unique format. At least one person in each performance has a disability. "The great talent of the artists will promote the festival's dual goal of entertaining and defining others by ability rather than disability. The festival is about uniting our community through the universal sound of music," explains his founder, David New.

This is a small sample of the options Miami brings you in this new year.


Friday, December 20, 2019

The best cities in Florida to invest in this 2020



Miami is considered one of the best cities in Florida to invest in. At Miami Riches, we show you the attractions and benefits of its different areas for you to discover where to invest in 2020.

The city of Miami is surrounded by several areas that show their style, ranging from the financial district to the district of the arts. This is our list of the 5 most popular districts to invest in the upcoming year:

Brickell
Located in downtown Miami, Brickell is South Florida's premier financial district. An urban neighborhood, adorned with luxurious buildings, offices, hotels, and a multicultural selection of cafes, restaurants, and clubs that make it the favorite place for locals, tourists, and entrepreneurs, as well as the residence of a large number of millennials.

Midtown
One of the fastest-growing areas in the city, Midtown is the perfect area for those who enjoy the balance between good living, fashion, and the arts. With its streets full of life, its surroundings breathe a cultural diversity that has enriched each of its spaces, which is why you can taste a variety of dishes and beverages, find any architectural style, trends in decoration, or simply witness their daily activities on the spot.

Wyndwood
Better known as the Wynwood Arts District, thanks to Tony Goldman, who saw the artistic potential of the area in its purest representation, graffiti. After years of exploration, in 2009, the still celebrated exhibition, Wynwood Walls, opened. Thus in 2016, Wynwood was proud to celebrate its second spring as a fashionable neighborhood of the city.

Downtown
Downtown Miami refers to the center of the city; it is one of the neighborhoods in Miami characterized by its high buildings and views of Biscayne Bay. Dazzling skyscrapers, business centers, conventions, and meeting centers with unsurpassed views of the sea make this place a jewel.

Edgewater
The Edgewater neighborhood is accompanied by its characteristic skyscrapers, modern buildings that are under development, and the strong artistic movement that is felt there by the proximity to Midtown Miami and Miami Design District. It is on the edge of the bay, which makes it an area of great interest to domestic and foreign investors who project into this neighborhood.

Tuesday, November 19, 2019

Miami breaks temperature records!


Miami is considered a paradise for its thousands of qualities, including its good weather full of sunny days and high temperatures, but this fall, its record has been beaten; it's been 61 years since such a hot November. A temperature of 91°F was recorded at the beginning of the month, surpassing the 1958 temperature of 89°F.

To avoid the heatstroke that hits the state of the sun, Miami Riches has prepared a guide on how to prevent and what to do at the moment of suffering a heat stroke.

Heatstroke is caused by excess heat in the body, usually as a result of prolonged exposure to high temperatures or physical exertion at high temperatures. It is the most serious form of heat injury and can occur if the body temperature reaches 104°F or higher.

Some of the signs and symptoms of heatstroke are:
  • High body temperature.
  • Altered mental or behavioral status.
  • Altered sweating.
  • Nausea and vomiting. 
  • Flushed skin.
  • Accelerated breathing. 
  • Rapid heart rate.
  • Headache.
Follow these tips to prevent it.



Thursday, October 10, 2019

How does Miami celebrate Halloween?


One of the best things about Miami is that it has events for all tastes. From a simple meeting in one of the best squares in the city to big and crazy parties. The options are varied, but without a doubt, they will all be worth it.

Celebrating Halloween in Miami means spending the whole week at Wynwood.

Wynwood Fear Factory 2019

Photo: Wynwood Fear Factory
The seat of art and trends is dressed for Halloween again in 2019.  This horror festival is back with more horror and fun. This classic party has become Miami's #1 event thanks to its fun atmosphere and excellent music. Year after year, people from all over the world decide to celebrate this spooky season between the walls and graffiti of Wynwood.





Halloween Masquerade Ball

This is the second big event this city offers tourists. Unlike the others, the atmosphere is for quiet people, who just want to enjoy the end of the season with a cocktail in hand. However, just because it's quiet doesn't mean it's boring, quite the opposite. Since this year they not only celebrate Halloween but also their anniversary, the place will offer a great celebration full of excellent food and exotic drinks.



Celebrating Halloween in Miami is a classic for the people who live in the state. Come and experience Miami and its traditions.

Tuesday, September 10, 2019

5 Ideal Plants for your Garden.



Do you know what are the best plants to have under the Miami sun? There is a great variety of plants that better resist the hot and sunny conditions of the city of the sun.

With the arrival of summer and the high temperatures, we need to adapt our garden for the season. The best way is to fill it with plants that develop best when they are under the sun, and with the right care, the longer their flowering period will be.

If your garden is sunny all day or most of the time, you'll be interested to know which flowers are best suited to those sunny areas, here are 5 options.

1) Bougainvillea
Needs to be in very sunny places and needs the warmest climates to develop under ideal conditions. As for watering, two or three times a week will suffice in the hottest months of spring and summer.



2) Geranium


It does not require excessive care, as it is one of the most popular outdoor resistant plants. During the summer months, it needs to be watered almost daily.



3) Verbena
It is one of the most colorful sun plants because it has many flowers, and also tends to flower in greater numbers from late spring until the end of summer. It needs little water so it is ideal for very sunny places, in fact, they need sufficient sunlight to grow well.


4) Snapdragon

Blooms from spring to autumn and its flowers can be of many different colors, from white and yellow to orange, red, pink and purple.

5) Dahlias
They need to be under the sun, so they are ideal for a garden in the middle of summer. However, they do need abundant watering, which must be done at times when the sun is not shining on them.


We know how important it is to take care of your garden.

Monday, August 12, 2019

Top 5 activities you can do with your friends in Miami.



Miami is the perfect paradise to enjoy with the family we choose to have: Friends.

Miami is well known for all the fun, sun and flavor that you can expect from a great vacation, and if you are with your best friends, things do not stop improving.

Therefore, you should make the most of this quality time you will spend with the people you love.

Here is a list of the activities you can do together:

Motorboat:

A 45-minute tour through the waters of Miami.  Fun and incredible. From this tour you will get wet, but will be happy. There will be a team responsible for entertaining and taking care of you, so do not hesitate to consider this option.

Everglades

This national park is famous for being one of the most unique and wild areas in the United States.

Guided tours are organized throughout the length and breadth of the park, you can see crocodiles and all the fauna and flora that live there.

South Beach

Of all the must-see destinations in Miami, the first one is South Beach. Turquoise blue waters, surfers going after big waves, and a sky like no other are some of the features of this paradise.

Little Havana:

A Cuban neighborhood that represents the taste, the colors, and the music of one of the richest continents in culture: Latin America. It features restaurants and shops that are representations of famous places in Havana.

So... Are you ready to enjoy the best of Miami with the best people in the world?

Do not wait any longer and come live here!

Friday, July 5, 2019

Advantages of living near good schools.


When you have a family to watch over, moving in becomes even more complicated.

Not only your interests and expectations need to be met; schooling is the most important stage of a child's social development, so choosing the right school is an essential task.

The advantages of choosing a school close to the area where you live are many. Miami has schools with perfect accessibility.

Among the advantages of enrolling children in a nearby school, we can mention:

The time you can save:

It's not just about the time you could save by not having to travel long distances, but also the time you could sleep, how calm you can wake up in the morning, the time you spend for breakfast. Although these details may seem insignificant, they will greatly influence the mood and energy that children have during the day.

Peace of mind:

If you are considering several properties and one is slightly cheaper but it is further from your workplace and the children's school, consider investing in your peace of mind and that of your children. Later they will thank you.

Saving money:

Although distances in Miami are not so exorbitant, eventually, the shorter the distances you travel, the more money you will save money on transportation or gas for the car.

Miami is an excellent city where to educate your children. In fact, Florida is one of the states with the lowest bullying index in all the United States, so we suggest you consider this state to settle with your family.




Tuesday, June 11, 2019

Miami: the favorite city of the Millennials







Miami is one of the favorite destinations worldwide, it is also a MUST in the United States. It is common for this city to be associated with a limited stay,  vacations or summer enjoyment.

Miami has become much more than a summer full of majestic beaches. Today, it is one of the preferred destinations in the United States to settle and stay. What has surprised many is that Millennials have decided to make this their hometown. Here are some of the reasons why Miami is the preferred city of this generation.

Labor expansion

Miami is a city full of projects. Since it’s a famous tourist destination, there are many projects in development. Even though the unemployment rate fluctuates around 5%, this does not stop the Millennials, because all the possibilities offered by the city are much more important.

Slowing house prices

Getting a property in Florida is a titanic task. Here, the price of real estate is usually high. However, something interesting is happening in Miami that could open the doors to the future of young people. Normally, the prices of real estate in this city rise between 6 and 7% annually; however, this process has slowed down, meaning more investment opportunities for young entrepreneurs.

Weather

The United States has beautiful cities whose climates represent a resounding "No" for many. Miami has an enviable climate. The sun is a constant element during the year and the temperatures are never extreme, so deciding to live in Miami will not be a headache.

Beaches

Even if it seems superfluous, this aspect is one of the favorites of many. Having a space where you can disconnect from everything just a few minutes away from home is an attractive attribute. The sea always brings Miami closer to creative and young souls.

Multiculturalism

It is precisely this multiculturalism that has opened the doors of expansion to this city. Companies from all over the world, with workers from all over the world, living side by side in the same city. The diversity of cultures, languages ​​and physical features makes Miami even more interesting.

Friday, May 17, 2019

NEW PROPERTY OR OLD PROPERTY?





                                              
If you are planning to buy your new home, it is important to ask yourself the following question: Should I buy a new property or an old property? Both offer some benefits worthy of being considered, although they also involve certain risks. Here are some of them.








INVESTMENT

Both new and old properties are expensive. Classic and old-fashioned properties tend to have higher prices due to their location, that is to say, their proximity to busy areas, parks, schools and other amenities. By the same token, depending on their size and luxury services, new properties are also usually expensive, but if the property has not been refurbished, the price could be lower than an old property.

QUALITY AND AMENITIES

Pros

In terms of construction, old properties are resistant. Many of them have survived for decades, and have endured natural disasters, since many of them have been built by artisans who meticulously sought perfection for details.

On the other hand, new properties are also made with the purpose of guaranteeing durability. In this sense, new owners will not have to worry about remodeling. In addition, they offer everyday appliances in good condition and other amenities such as gym, parks, laundry, and doorman.

Cons

The probability that an old property needs to be repaired is high. In the case of houses, chimneys and floors could be inclined. If a house was built before the construction of sewer systems, the latrine can overflow. In addition, they could have flaws in the wiring or electric system.

LOCATION

Unlike new properties, old properties are usually close to entertainment venues. Besides, they are located in central areas of cities.

In conclusion, both options have many strengths and weaknesses. Nevertheless, before making a decision, we recommend to analyze the conditions of the home you want to acquire with a professional, depending on your needs.

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