All Forum Posts by: Jose Diaz

@Nat C. 

The numbers on that duplex are solid. Happy to hear you picked it up at 86K.

The thing about Miami is the close proximity of mixed value neighborhoods to each other, as you've pointed out. And one road can make a major difference in value. 

Some investors I work with don't want to buy anywhere they don't trust their mother living, some don't care as long as the cash flow makes sense, and others are buying, speculatively, near where new development is taking place.

As for Little Haiti, it really comes down to your preference. I know that's not a straight answer, but it does depend on your goals, price range, and risk tolerance. It's true you can pick something up for less in Little Haiti than Wynwood/Design District (where there is high demand). However, it's still unclear how everything will pan out in the a few years, and how the effects of the current increase in activity will play out in neighborhoods like Little Haiti. 

Sure, there is an incredible amount of new & redevelopment taking place in Miami right now. That said, there is also a lot of speculative activity happening as well. 

I would say stick to your comfort zone and trust your instincts. If a street looks well-kept, like your 57th St property, you may have a good deal for the long haul, no matter what happens a few blocks away. 

Hope this helps.

Jose, not quite sure what your question means exactly.....

I acquired it off the MLS?

First let's start by defining Little Haiti. Wikipedia says the perimeters are:

54th St -71st St

East of I-95 and West of Biscayne Blvd

Miami is a red hot market right now but properties are still as cheap as chips in the ghetto that stretches out West including Brownsville and Liberty City- cos yeah, no one wants to risk getting shot for buying a cheap property.

Driving around the epicenter of Little Haiti last year was like being on an alien planet. I have lived in several 3rd world countries that looked like a fine kingdom by comparison.

However on the East side of Little Haiti bordering Biscayne there are some veryr nice streets. On other side of Biscayne is Bayside and Morning Side which is far more affluent.

I have a strong interest in Little Haiti. It's still affordable unlike Midtown and Wynwood and yet these trendy, sought after areas are only minutes away by car.

I recently bought a duplex on 57th St. The street itself is so well kept with everyone looking after their yards. My property is only 2 minutes walk from Biscayne. I got a bargain at 86K. I inherited the tenants who pay $1700 in total per month.

I think I'm going to buy more in this area. My question to Miamian's is what do you think of the future growth of Little Haiti as a whole? As the grab for properties in the design district intensifies, do you think this will spread up to Little Haiti in years to come?

Check out the SBA website it has thorough directions on how to write a business plan.  

http://www.sba.gov/category/navigation-structure/s...

Good luck!