5 keys to investing safely in Miami

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The real estate market in Miami is one of the main economic activities in South Florida. Therefore, here we will concisely explain the basic points that you should take into account when investing in Miami.

  • Work under the advice of a real estate agent: Many times we think that we can make the purchase of a property without the help of a professional, however, this increases the possibility of making a bad investment and ends up with excessive expenses on unnecessary payments. The real estate market in Miami has constant fluctuations, which causes properties to vary in value from one moment to the next. Real estate advisors are trained to forecast these changes, allowing them to make transactions at opportune times and places. Real estate agents know the market very well and also have the necessary legal training to carry out all the transaction paperwork efficiently and quickly.

  • Find an advisor who provides you with a comprehensive real estate service: Real estate advisors not only guide you through the investment transaction, they should also be trained to manage your property. Poor management could result in unnecessary expenses, fines, late fees, and a bad experience for you as an investor. Perhaps a good real estate advisor represents one more expense in your investment plan, but there will be more inconveniences avoided later.

  • Make sure you know the extra costs of your investment: Sometimes, “Investment Opportunities” They have with them a set of hidden extra expenses, for example, expenses on repairs, expenses on improvements, among others. Generally these expenses are generated in old buildings. That is why it is important that your real estate advisor informs you of all purchase, administration and future sale expenses, in order to optimally calculate the rental cost. It is advisable to use a profitability calculator to maximize the success of your investment.

  • The success of your investment depends on the precise moment to make the sale: As we mentioned previously, the real estate market tends to be very changeable and even more so in a city with as much demand as Miami. That is why the final materialization of your investment will depend on your investment. of choosing the perfect time to make the sale. Your real estate advisor should have the ability to deduce the ideal moment to make the sale, maximizing the profit margin to be obtained.

  • The work of the real estate advisor does NOT end with the sale: Make sure that the advisor assists you throughout the process of tax returns and finally the closing of your company and payment of the corresponding fees. It is very common for advisors to disappear upon receiving their sales payment, but he is also there. We will be able to help and advise you throughout the entire tax return process. Skipping this stage can lead to very bad experiences for the Investor.

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