Thursday, March 15, 2018

Property Insurance: which one should you choose?

Protecting your property is the first step to make your investment last. Whether it’s a long-term investment or a short-term rental, Property Insurance is the way to go when choosing the best way to take care of your new home. But how can you choose? We’ll explain it to you:

There are two types of insurance you can ask for: a hazard insurance and a flood insurance.

  • Hazard Insurance basically protects the structure of the house. It protects the property from fires, theft, vandalism, and more. These incidents are usually covered by a liability insurance;
  • Flood Insurance protects the property from damages caused by water. It not only protects the property and its structure, but it also protects the objects inside.

Now that you know which types of insurances there are, you might be wondering which one you can choose. And at the end of the day, it depends on what you’re looking for!

Hazard insurance is usually the most common for properties, since it usually includes liability. And unless you don’t live on the first floor, flood insurance is not necessary in this case. Flood insurance, on the other hand, is recommended if you live on the first floor or if the pipes are old. You can protect your property from any incident.

Property Insurance is the base for your new home, and Miami Riches is here to help. This is one of our new services. Contact us and we’ll start making business.

Tuesday, February 20, 2018

The Museum of Ice Cream in Miami

Could you imagine a place where you could try every ice-cream flavor in the world, watch colorful art with ice-cream as the main concept, swim in a sprinkle pool and swing on a giant banana? This past December, the Museum of Ice-cream opened its doors temporarily in Miami Beach (in Faena District), and the tickets sold out in a matter of hours. Apparently, if it were still open, it would still be very difficult to get tickets due to the massive amount of people wanting to go there. Thousands of visitors of all ages (both tourists and locals) came to this museum and felt like young children once more, while they tried all their favorite ice cream flavors. It might have been the sugar rush, but many of them even danced during this colorful experience.

Pink palm trees, giant ice cream cones, sprinkle pool and hundreds of original and even exotic ice cream flavors filled this 4-story museum. One month wasn’t enough, but they promised to open their doors again soon, so everyone who couldn’t find tickets the first time may have the opportunity to witness this unique event. For now, you can check thousands of pictures of both kids and adults on a banana swing, many positive reviews about the delicious ice cream flavors they actually give you in one of the main rooms of the museum, and what seems to be one of the coolest things on earth: a sprinkle pool where you can dive in if you dare (actually you can’t, but you can dip in your feet and take a picture).

Most visitors came because of their unconditional love for ice cream, but let’s not forget that it’s indeed a museum where numerous art pieces are exposed, and every last detail in every part of the tour was perfectly thought to make the experience unique, fun and unforgettable. The creator of this museum believes that ice cream is one of the most creative foods, and that it deserves to be celebrated because of the countless hours of flavorful joy it has brought to the history of mankind in every corner of the world. And to celebrate its universality, you can even have kosher, vegan, gluten-free, or sugar-free ice creams so everyone can enjoy.

It was a success in San Francisco and New York City, and Miami was no different. Everyone is looking forward to its reopening, and hopefully next time it will stay open for more than a month, so that everyone can have the opportunity to visit one of the coolest and most original places in America; the Museum of Ice Cream!


Wednesday, January 3, 2018

Real Estate Trends for this 2018

The Real Estate business is all about people. The market is mainly driven by what people want and don’t want in a given period of time, which means that if you know how to read what most people want, you could even predict some trends with just enough time to quickly get in and make a good deal, whether you are an investor or simply someone searching for a new home. In this article, we are going to tell you about this 2018’s trends in the Real Estate business so you can start planning ahead or finally making your move!

Trends can be spotted anywhere, but, particularly in Florida, they are a little bit easier to see thanks to the high volume of investors, information, new developments, and projects. Miami is filled with new buildings, and this 2018 its unique skyline will definitely get denser. The trend for these new developments is quite easy to recognize: small units, attractive amenities, and great locations near hotspots in town. This type of building has been the most common for the past decade in this corner of America, and Millennials are the first ones to drive this particular trend.

This is going to be an important year for many reasons; one of them is the fact that 90’s kids aren’t kids anymore. There’s an important number of Millennials now in their 20’s – 30’s, and they have a huge weight on how the market is going to turn out this year. Despite what many might think, these millions of Americans seem to be motivated to buy their first home before reaching their 30’s instead of renting, and that’s because of the increase in their income and their positive career development.

This generation will be able to take on bigger loans, and this 2018 they are expected to be 43% of home buyers to take out mortgages. Our recommendation for them is to buy as soon as possible this year because it will only get harder and more expensive through the rest of this 2018.

Since South Florida is one of the hottest vacation spots in the world, short-term rentals are now trending like never before. Investors are searching for opportunities in neighborhoods where people might want to rent for a month or two (even less than a month) during the summer, winter break, or spring break, and make a decent profit out of it.

Prices are expected to increase this 2018, but since crowdfunding is becoming a very popular option, it won’t matter for those trying to diversify their investments. That’s why people are moving from sole ownership to fractional investments. It’s quickly becoming an easier way to get in a passive investment, and this is affecting the market positively.

Whether you are buying your first home or you are an experienced investor, Miami Riches will assist you in everything you need. Buying, selling or renting a home on your own can be difficult, and it’s extremely easy to make a mistake. Contact us anytime!

Photo credit: Flickr 

Friday, December 1, 2017

Christmas in Miami

Living in Miami is never more amazing than during the holiday season. There are so many things to do; some of the best shopping in the world can be found here, the best restaurants to celebrate with your family and your closest friends, countless outdoors activities to do with your children and your relatives, and the best part is the Caribbean Sea flooding every corner of the city with a unique tropical atmosphere that will help you relax and enjoy life a little bit more. You will never forget a Christmas in Miami!

For many, Christmas means winter, cold, gathering around the fire, and snow, but every year more and more Americans (and foreigners) decide to visit Miami during this season to have a little taste of how Floridians celebrate these festivities.

Miami is many things, but boring isn’t one of them. Maybe it’s the beach, maybe it’s the Latin influence, maybe it’s because of its history that Miami is such an amazing city, and this 2017’s Christmas season promises to be the best in many years. Whether you are living in Miami or just visiting, there are some activities that you simply can’t miss this December.

Have a real taste of Miami’s lifestyle by attending at least one of the many events happening throughout December, for example:

-From December 7-10, if you are an art lover, you’ll enjoy the Miami Art Week. There will be events and fairs held all over town where artists from all around the world exhibit their pieces. And the main event: The Art Basel Miami Beach, where you can actually buy some pieces for your collection or enjoy watching the work of painters, sculptors and other visual artists.

-If you are a music lover then you can’t miss the Sounds of the Season with the New World Symphony this December 16. A wonderful concert at SoundScape Park at the New World Center in Miami Beach to celebrate the beginning of the holidays with the whole family.

-Enjoy an all-time classic, The Nutcracker. There’s nothing like a Christmassy play to really turn your holiday spirit on. You can catch a show in different venues throughout December (1-31): Adrienne Arsht Center for the Performing Arts of Miami-Dade County; The Fillmore, Miami Beach; South Miami-Dade Cultural Arts Center; or the Aventura Arts & Cultural Center.

-One of our favorites, Santa’s Enchanted Forest(December 1-31). This is the largest holiday theme park in the world. A 92-foot tall Christmas tree, carnival rides, shows, fun games for the whole family, delicious food and the Christmassy aura that will get you exactly in the mood to enjoy this season like never before.

Also Christmas trees all over town, decorations, special menus at restaurants, special season sales in the best stores, a cool weather, live Christmas-themed music presentations all over town, and happy people all around anxiously waiting for the big day. Get ready, the holidays are almost here!

Photo credit:

Wednesday, November 8, 2017

Top 3 Iconic Buildings in Miami

Every famous city in the world has its own iconic architecture, and Miami’s unique skyline keeps renewing itself every year. But some buildings, like the Miami Tower or the Atlantis Condominium, became instant classics from the very first moment they were inaugurated. If you want to learn some fun things about these iconic buildings, keep reading below… Here are our Top 3 most iconic buildings in Miami:

1.    Miami Tower
Some might say that this is the most iconic building in Miami. It’s the seventh tallest development in the city, and with its 625 feet of height, it can be seen from many spots in Miami. This 47-story development was built in 1987 and designed by the Pei Cobb Freed & Partners architectural firm. It became a classic right away, and what’s more striking about this building is its $1.5 million LED system that, during the nights, displays all kinds of colors with movement and messages. 
It’s common to see it displaying the colors of particular holidays; it’s definitely quite a show. Miami Tower is one of the most important buildings not only in Miami but in the entire state of Florida.

2.    Atlantis Condominium

Another instant classic built in the early 1980s. This luxurious landmark became quite famous thanks to the opening credits of the television series “Miami Vice” and because of its unique design; it’s actually quite easy to recognize and remember thanks to the beautiful glass facade and the 5-story palm court which is cut out of the building. Located on Brickell Avenue, it’s definitely one of the most memorable buildings in Miami and a very important part of its modern skyline.

3.    Icon Brickell

Now, to mention a much newer building (2008), Icon Brickell should be in everyone’s top list of the most beautiful buildings in Miami. It features some of the best views in the entire city; the turquoise pool right in the middle of the three towers and a fantastic overview of the Miami canals right on their way towards the Caribbean Sea. It’s 586 feet tall, and its modern design and iconic location make it one of the most important buildings in the area, and definitely one of the most beautiful skyscrapers in the city.

The best thing about the Miami skyline is that it keeps renewing itself every year. Currently, there are some great projects about to start and some buildings soon to open their doors for the first time, such as the One Thousand Museum by Zaha Hadid Architects in Biscayne Boulevard. It will be 700 feet tall, full of luxury, and will have some of the best amenities you could ever imagine. It will be finished in 2018 and many of the apartments have already been sold.

Wednesday, October 4, 2017

Why Miami Riches will be the best partner for Property Management?

Getting your first home is probably one of the greatest feelings in a person’s life, but there are some things that take first-timers by surprise and that can complicate things a little bit. The maintenance costs (regular and preventive), monthly fees, finding tenants, and all the expenses that come since day one when you buy a property can become a major headache, and it isn’t even a money issue, but time instead.

Even if you are not a first-timer and you’ve been through this whole experience before, and you are thinking about buying a second property, what might change your mind is the thought of dealing with all the responsibilities. For investors in South Florida, we have good news… Miami Riches will be your partner all the way!

What differentiates us from other real estate companies in South Florida is the commitment we show through the whole buying/selling process. Even after the deal is done, we continue working with our clients; managing their properties and handling all the responsibilities and legal matters, working as intermediates if you are renting your home, and optimizing all the expenses to make sure that you save money and maximize your revenue. Why should you work with Miami Riches? Here’s the answer:

About our property management service:

1.      For starters, we will go through a screening process to help you find a really good tenant who pays on time, rent for a longer period of time, puts less wear and tear on the unit, and overall, one that causes less problems.

2.      We will also save you a lot of time by handling everything that may cause you any legal problem. Evictions, inspections, lease addendums, terminating leases, and handling security deposits are matters that can take a lot of time, and if they are not managed correctly, they can become a headache.

3.      Shorter vacancy cycles. Keeping your home occupied is a priority, but it’s easier said than done. We will market your home effectively, we will give you some advice on how to improve your home (cosmetically) so you can maximize your revenue, and what’s most important, set an adequate rent price (not so high that you will scare off potential tenants, but not too low either).

4.      We guarantee a regular cash flow by collecting the tenants’ monthly payments. We work as intermediates the whole time, so you probably won’t have to interact directly with your tenants unless there’s an out-of-the-ordinary situation.

5.    Fewer taxes are always good news for homeowners, and that’s definitely one of the best features of hiring our property management services. We will help you gather and organize all the documentation required for this process.

Our experience and professionalism will help you achieve all your financial goals, and in record time too. If you are a first-timer or if you already have some experience in the real estate market, our services will suit you perfectly. Contact us anytime and ask about our property management services.

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Copyright 2012 Miami Riches. All rights reserved. 1800 SW 1st Avenue. Suite 504. Miami, FL. 33129. Tel (305) 600-3198. Fax (786) 533-3921.