Seriously?? How do we fix south beach?? (Miami, Kendall: renting, house)

[miami_winter_breeze]

Originally Posted by Git Her Done

Your comment is not totally accurate. Arod had a nice home on the Bay in Coral Gables but wife got it from the divorce-Lol. Next, he lived up in my neck of the woods because I used to see him half drunk at the Blue Martini on Sunrise. Today, I hear he's lost half of his fortune-Not surprising as most professional athletes end up broke anyway, lol. Arod would never live in SoBe. Only posers, gullible tourists and incompetent wealthy immigrants live in Miami Beach. They eventually move out and up north to where the real money is, Palm Beach!

The money is in Palm Beach?

Palm Beach averages 400$ per sqft.
Miami Beach/Sunny Isles average over 500$ per sqft.
South Pointe/Key Biscayne/Couple other communities average 1,000$ per sqft.

Most expensive sale in Florida this year was in Miami for a penthouse at 60 million$, 10 million$ over asking price.

[Git Her Done]

Originally Posted by miami_winter_breeze

The money is in Palm Beach?

Palm Beach averages 400$ per sqft.
Miami Beach/Sunny Isles average over 500$ per sqft.
South Pointe/Key Biscayne/Couple other communities average 1,000$ per sqft.

Most expensive sale in Florida this year was in Miami for a penthouse at 60 million$, 10 million$ over asking price.

Your data is skewed and the only reason that Ph sold was because of incompetent wealthy foreigners who don't know or understand the American market and it's highly probable dirty money. So on all sides it's a bogus and rogue transaction if it's even true at all. Honestly, that is very hard to believe. Post a Link to prove the sale. I beg to say that is BS.

[elchevere]

No BS:

$60 million penthouse sale at Faena House breaks Miami record | Miami Herald

$60 Million Miami Beach Penthouse Sale Breaks Record « CBS Miami

[Git Her Done]

Dirty money. Wealthy foreigners/immigrants love to drop dirty money on real estate in Miami. It's easy to move the cash in and make money like renting the Condo or equity in the property long term then re-sale 5-10 years later at profit. Colombians do it all the time. Profits made from the sale of Cocaine goes in a Panamanian Bank then they move it a Miami property as way to justify the potential red flags. This is also a slap in the face to all hard working Americans because I'm betting the buyer is a wealthy third word person who made his money the dirty way, by fabricating hard core drugs like Cocaine and selling to Americans. Then that money is channeled all over to different Banks. It's easy for immigrants to enter the US and buy our real estate but when we want to be a citizen of their country, Brazil, Mexico or Colombia, it's almost impossible unless you have $200k to dump for a Resident Visa.

[elchevere]

At $60M, he's the 1% of drug dealers, if that's the case, so he's good at his trade.

[perry335654]

Yea, looks like Miami hands down the money is there, Fisher Island alone is where the Billionaires hang out or reside. That is considered one of the most wealthy zip codes in America... There is a lot of money in Miami, whether Venezuelan or Brazilian along with Yankee dollar that invest, nothing wrong with flipping an investment to make a lucrative profit.

[elchevere]

And Miami has its share of NYC hedge fund managers who own property there as well.

[Git Her Done]

Originally Posted by elchevere

At $60M, he's the 1% of drug dealers, if that's the case, so he's good at his trade.

So you admire and appreciate Billionaire Drug Dealers-Shady people who produce and sell an illegal highly dangerous narcotic like Cocaine? And you you applaud him by saying "so he's good at his trade"? Americans die every day from Cocaine and other dangerous narcotic man-made drugs that are produced in third world countries then sold to Americans, then those profits allow a billionaire Colombian drug dealer to buy a $60M Condo in Miami Beach. And this is all fine and dandy, and normal to you?

[miami_winter_breeze]

Originally Posted by Git Her Done

It's easy to move the cash in and make money like renting the Condo

You think it's easy to make money by renting a 60million condo

[Git Her Done]

Originally Posted by perry335654

Nothing wrong with flipping an investment to make a lucrative profit.

If the money is dirty or laundered then yes-this illegal and highly shady, and in my opinion, the money is most likely dirty, laundered from some wealthy person abroad who is smart because he knows he can funnel the cash in to Miami Real Estate and not get caught. He also probably thinks us Americans are big dummies because we have such lax restrictions for big money coming in-Thanks Obama. Miami is the most corrupt American city and Miami has more dirty money than any other first world city on Planet Earth. How interesting that you and some others here try to justify that Miami is this true blue city, money earned the hard way by the sweat of one's brow and the pain of one's back. Disgusting.