Miami Area - Where would you buy for investment /appreciation (Orlando: sales, real estate)

[jm1982]

The Miami area definitely seem to be booming. I am working in the South Florida area now and staying in Fort Lauderdale, but a lot more seems to be happening in Miami area now.

I know there have been areas that have grown quickly or gentrified. Like Wynwood and some other areas.

I have a property in CA, but I feel like Miami area has more potential for growth or appreciation.

Which areas do you feel are undervalued or have potential to increase in value. I've heard that Little Haiti has been gentrifying too and there's a lot of artist moving there.
For art aficionados, a new Wynwood emerges to the north | The Miami Herald

The area should be one that can be rented and cash flow (rent covers all expenses)

[hurricaneMan1992]

North Miami and North Miami Beach alongside the FEC rail corridor. Both cities have some impressive redevelopment plans for the areas for the neighbourhoods surrounding the "Coastal Link" commuter rail stations. Similarly for the 79th and Biscayne area which would also have a station. North Beach in Miami Beach is another potential area, since the City is putting a lot of resources in to that part of town. Rent cash flow, however, will be an issue in general in the Miami area due to high HOAs with the condos and high insurance rates with the older houses.

[ace587]

Little River district just west of 79th is booming. Definitely a great place to get some property

[jm1982]

Definately plan to look into the plans of redevelopment and these different areas .

[tallrick]

Wait till the next crash, then you can buy prime properties at a price that makes sense. I know too many people sitting on vacant properties and spending thousands in property taxes and insurance, and having a yearly net loss. Rents are way too high and at the next economic panic there will be a wave of vacancies.

[croatbob]

the beach and downtown as thats were the international money is landing. americans arent buying anything its the brazilians, venezuelans, russians and the likes trying to avoid taxes in their own countries. 90% of condo sales are international and 80% are cash sales

[rnc2mbfl]

I'd look in Buena Vista immediately north and west of the Design District. The upscale future of the Design District itself, proximity to Midtown and access to DT and the beach will inevitably increase the value of the homes there. Parts of the neighborhood that are not in (but close) to the historic district probably has the greatest potential for increased value vis-a-vis the investment.

[jm1982]

Definitely seems to be a lot of different areas that seem to be pretty undervalued because of their proximity to DT and the beach. I was pretty amazed to hear about all the places in the design district.

It seems it's a matter of time before some of these neighborhoods change because everything in Downtown and South Beach has become expensive and built up.

Also have been reading more about Miami 21 and how the city wants more density in Miami and for the city to be more walkable or accessible via public transit. There seems to be incentives for building near transit stops.

[blueherons]

Originally Posted by jm1982

Definitely seems to be a lot of different areas that seem to be pretty undervalued because of their proximity to DT and the beach. I was pretty amazed to hear about all the places in the design district.

It seems it's a matter of time before some of these neighborhoods change because everything in Downtown and South Beach has become expensive and built up.

Also have been reading more about Miami 21 and how the city wants more density in Miami and for the city to be more walkable or accessible via public transit. There seems to be incentives for building near transit stops.

The above could not be more wrong.

Miami doesn't have the infrastructure to handle all of its current building.

All that stuff going up downtown? The roads cannot accommodate what is there already and there is nowhere to expand. Think the roads are bad? The septic isn't going to be able to handle the poop.

Downtown will bust and it will be a mess.

Personally, no way would I invest in Miami right now. I'd wait until the next bust.

There are no areas with close proximity to the beach that are undervalued.

My realtor friends that do nothing but handle foreign real estate investments are putting all of their money in Orlando. It is a good value right now.

[tankhead]

Originally Posted by rnc2mbfl

I'd look in Buena Vista immediately north and west of the Design District. The upscale future of the Design District itself, proximity to Midtown and access to DT and the beach will inevitably increase the value of the homes there. Parts of the neighborhood that are not in (but close) to the historic district probably has the greatest potential for increased value vis-a-vis the investment.

Here's a map:

Buena Vista (Miami) - Wikipedia, the free encyclopedia

The zip codes for the Buena Vista neighborhood are 33127 & 33137.