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Old 12-19-2009, 12:29 PM
1,955 posts, read 5,199,773 times
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I have a client who's going to require increasing amounts of travel from me to Miami. As I really enjoy vacationing there anyway, and may eventually start pursuing business opportunities there apart from this particular client, I was wondering about the feasibility of buying a small condo in Miami Beach. On realtor.com, I see a number of properties listed at less than $100K, and quite a few for under $50K. Are these total dives? They appear to be older buildings in decent areas of Miami Beach. I'm willing to spend some money fixing them up.

It almost seems like it would be worth the effort to maintain one of these, considering a hotel bill per month might run me several times the mortgage payment with my anticipated travel levels.

Or are mortgage companies even providing financing for these types of units? As attractive as the prices are, I can't quite come up with $50k in cash.
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