Tell Me About the Golden Gate City Area, Please? (Miami: real estate, transplants)

[bjvens]

Partner and I live, at the moment, in VA and invest in realestate.

Got an email today from an agent with a listing in Golden Gate City: Duplex, rented for $750 per month each, built in '06 for $80K.

There's a gazillion of these deals down there. This is not a slummy area. Besides a fallen market, what's the deal?

If we purchased a handful of these babies, in 5 years or so when the market turns around, we should be sitting pretty.

Is this too good to be true or would investing in this area be a solid deal?

Feedback, please?

Thanks!

[RMD3819]

Most, if not all duplexes in GG City are dumps. The majority house illegals. When the construction and landscape jobs dried up, they left town. They sit vacant now. That is why there are so many for sale.

All of GG City is not dumpy. It varies from decent middle class to third world country. I lived there for twelve years.

[novanative75]

It is too good to be true. I would not invest 50 cents in GGC. Now, Golden Gate Estates are not bad but I do not think that is what you are talking about. For that price, you are talking about an area like the PP is talking about too, lots of illegals and a dump.

[Mrs.Bewitched]

You have to be careful in the golden gate city area. Some of the streets in that smaller area are not that nice. Especially the areas that have a lot of duplexes. Sorry.

[picabo]

All the people I work with are home owners in Golden Gate. Some have had their house on the market for 2 years with no bites. Golden gate is on the outskirts of the Everglades. (look at a map) Lots of natural wildlife. And dangerous during fire season. I don't see this market turning around any time soon. A duplex would not be a good idea in Golden Gate. It's mostly illegals and Miami transplants. Lots of grow houses too. Also, alot of times you better check with the city planners to see if they plan on putting a major road thru your neighborhood. This just recently happened in Golden Gate. Alot of people were on the news who had just purchased 300,000 homes in Golden gate a couple of years ago, just to find out that a major road was going thru their back yards. Alot of development out there...so where ever you move in FL, check with the planning commission to make sure this doesn't happen to you. The real estate agents won't tell you this info.

[jim09091]

Golden Gate City and Golden Gate Estates are two separate areas.

GG City tends to be smaller lots and has had a lot of issues with crime and isn't exactly regarded as the most aesthetically pleasing area.

GG Estates tends to have larger lots and larger homes. Some sections have very nice homes, some are mixed and some are on the lower-end. It is a pretty big area.