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 
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