Here is a quote of Alex Cohen, Lead Commercial Specialist at Core.
“Like many who have enjoyed vacationing in Miami, I was initially drawn to consider buying Miami Beach condominiums as investment about two and a half years ago. However, through assessing condo pricing and condo rents, I quickly discovered that likely returns would be 4% or less. Instead I chose to invest in a unique neighborhood just north of Miami’s hot “design district” called Buena Vista filled with modest single family homes built mostly in the 1930s and 1940s. In Buena Vista, I found and invested in homes that generate for me returns from year-round renters between 5.5 and 8 percent because they make 2-3 bedrooms homes on small lots accessible, particularly to millennial renters, at rents equivalent to what they would pay for a Miami Beach studio or small one bedroom apartment.”
I'm not sure about Miami, but if it's still actual for you go to the link below.... more
Welcome to Miami! (no pun intended). Probably best to start looking in June. Most landlords will opt for the offer with an immediate occupancy. But you also have to take into consideration the buildings approval times. Some buildings screening approvals can take up to 3-4 weeks. Although most are about 2 weeks.... more
If you need help finding a lender that offers the First Time Buyers with Down Payment and Closing Cost Assistance. I can help, I am a realtor with Northeast Florida Realty and I work with a lender that can help you with this program.
In Duval and Clay county the assistance is $15,000. In St Johns county its $7,500.
The basic requirements are: that you have a credit score of 640 or higher, Have not owned a home in the last 3 years (there are some exceptions to this), and that you are employed with income to meet qualifying ratios. For complete information and to get pre-approved at no cost please call me and I can get things started for you and once you are qualified I can help you find your dream home.
Northeast Florida Realty
I am a Russian speaking Realtor with MVP Realty in Naples, Florida with 12 years of experience in Residential Real Estate.
I can be reached at 239-745-8003
Have you had any luck renting or buying? Which are you leaning towards at the moment if you have not purchased or leased yet?
I've got an excellent Realtor/Broker in Miami that specializes in those zip codes.
If you're still looking let me know and I'll send you his way.
Some areas of Coconut Grove have private policy or security services like the Bonita Park area where roving guards police the area 24 hours a day. I've been renting a summer home in the area for the past 4 years and never had an issue with crime during that time. The rest of the year the property is also occupied by its owners and they have not had issues either since they bought the property. They are very happy with the security of the neighborhood. Checking with the local police department should be your next step if you wish to inquire about crime rates in the area.... more