New Miami Investor Interested in Learning About Brickell

Member since 2020 · 1 post · 2 votes

Hey everyone! I am a young real estate investor looking to get into the Miami real estate market. I currently have two single family properties in Maryland and am thinking about a condo in the Brickell area as my next investment. Would love to connect with people who have short term and long term rental properties in the area or anyone with Miami market knowledge. Happy to be helpful however I can as well. Looking forward to connecting!

4 Reply

43 views

Most Popular Reply

Raymond J. RodriguesBusiness Member

Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes

Quote from @Max Burke:

Hey @Max Burke, @Malgorzata Sadowska can assist you in the Brickell market.

[email protected]619-456-8311

Helm Mortgage Corp.5126 Reviews

Website View Page

2 Reply

See this reply in the discussion

8 Replies

Jump to latestLatest

Sort by

Raymond J. RodriguesBusiness Member
Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
4y
Quote from @Max Burke:

Hey everyone! I am a young real estate investor looking to get into the Miami real estate market. I currently have two single family properties in Maryland and am thinking about a condo in the Brickell area as my next investment. Would love to connect with people who have short term and long term rental properties in the area or anyone with Miami market knowledge. Happy to be helpful however I can as well. Looking forward to connecting!

Hey @Max Burke, @Malgorzata Sadowska can assist you in the Brickell market.

[email protected]619-456-8311
Helm Mortgage Corp.5126 Reviews
Website View Page
2 Reply
Luis Maqueira
Rental Property Investor · Miami · Member since 2022 · 247 posts · 75 votes
4y
Quote from @Max Burke:

Hey everyone! I am a young real estate investor looking to get into the Miami real estate market. I currently have two single family properties in Maryland and am thinking about a condo in the Brickell area as my next investment. Would love to connect with people who have short term and long term rental properties in the area or anyone with Miami market knowledge. Happy to be helpful however I can as well. Looking forward to connecting!

0 Reply
Britt Smith
Member since 2019 · 30 posts · 8 votes
4y
I’m also looking in Brickell. My personal challenge is finding a condo that is not a co-op because it will be hard to get a loan on it down the road.
2 Reply
Sebastian Giraldo
REALTOR, Investor, and Rehab Expert · Miami Beach, FL · Member since 2015 · 196 posts · 74 votes
3y
Hey, @Max Burke and @Britt Smith I live in Brickell and it is a market of mostly appreciation. AND its easy to understand why; there has been a big push of fortune 100 companies expanding in the area. From Microsoft to Citadel Securities moving their HQ here. It is hailed more and more as the Manhattan of Miami and I believe it will be positioned as such. It is still early.
With that in mind there are plenty of good condos it all depends of exactly what you are looking for in terms of budget, Condo dues, and year built. There are plenty of them regular non co-op buildings as well. As for Short Term Rentals in Brickell I believe there is a good opportunity here since there is only 4 Bldgs
(non condo hotel) which allow Short Term daily Rentals. 1 of which is Baccarat tower and is due for completion 2023/24.
Barrier to entry: There is also no more land to build unless an old mid rise building is demolished.
0 Reply
Will B.
Rental Property Investor · New York, NY · Member since 2017 · 18 posts · 8 votes
3y
Last time I looked at Brickell, my advisor and I came to the conclusion that you can either buy what we call a trophy property in Brickell or you can buy 2 or 3 single family homes in Florida and make more income. Since my objective at that point was to create a separate source of income, I went with the single fam homes or small multi-families and it paid off. Consider the purchase price and the predicted rental amount that it could rent for. Do not forget the HOA and the fact that it will go up over the years. I just peeked at Trulia and saw 1 bedrooms in the 600 to 800K range with HOA in the $700 to $950. When you add it all up, could you make money renting it at market rate? I just don't see it.
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.