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re: Best place to invest today?
Posted on 5/17/16 at 6:42 pm to dabigfella
Posted on 5/17/16 at 6:42 pm to dabigfella
Separate topic. Are you the gentleman that owns on SB? If so, have property values recovered? I own in Broward. Pompano. Lauderdale by the Sea. In that area. I'm thinking about downsizing that part of my stuff. Long distance landlording to the extent I have to do it now isn't what I want to be doing. I think I'll keep 2-3 condos, and let someone that has more energy, and is more aggressive play in that arena.
Separate topic to the second power. How do you stand that overpriced and marginal food when you down there? I went down there to see the Orange Bowl, and I stayed for three weeks. I considered buying on the west side of Biscayne. I retrospect I should have. I could have gotten in for $80K, and I think the cheapest stuff right now is 4X that. That was winter 08-09. But the food, and the prices people paid for garbage food made me hate the place. I drove to mid town for breakfast, and for dinner went into Broward every night. Fogo de Chão was about the only place worth paying for, and even then overpriced for marginal food. I thought the Latin line dancers in the street was a neat thing to see. And one New Year's Eve the Moonies showed up in a bus. Yes, no lie, the friggin Moonies showed up in SB New Year's Eve. Talk about a dichotomy.
Separate topic to the second power. How do you stand that overpriced and marginal food when you down there? I went down there to see the Orange Bowl, and I stayed for three weeks. I considered buying on the west side of Biscayne. I retrospect I should have. I could have gotten in for $80K, and I think the cheapest stuff right now is 4X that. That was winter 08-09. But the food, and the prices people paid for garbage food made me hate the place. I drove to mid town for breakfast, and for dinner went into Broward every night. Fogo de Chão was about the only place worth paying for, and even then overpriced for marginal food. I thought the Latin line dancers in the street was a neat thing to see. And one New Year's Eve the Moonies showed up in a bus. Yes, no lie, the friggin Moonies showed up in SB New Year's Eve. Talk about a dichotomy.
1
Posted on 5/17/16 at 7:04 pm to Iowa Golfer
I own in south of fifth which is the last 5 streets 1-5 in south beach. South beach itself is a ghetto POS full of tourists and just ghetto people. South of fifth is where you have the best condos in miami: apogee,continuum,ocean house,one ocean, etc. The price difference once you cross 5th street can be 2x or more up to $4000/sq ft at something like the apogee vs as much as $700-800 a sq ft on say 15th street.
Property values in miami beach have more than recovered, up to 200% off the lows in most of the ocean front premium buildings. The less desirable buildings are still up close to 100% from the 2010 lows. Miami is struggling with a lot of south american cash now, but most condos are paid for in cash so struggling means no buyers but no foreclosures or very few.
As for food, again south of fifth is where it all is, all the best are withing a 2 block radius: prime 112,milos,joes stone crab,il mulino,prime fish,prime italian all are on 1st street between ocean and alton which is why I love my area, I fly in town and I dont leave the neighborhood. Miami downtown is booming but the traffic is miserable, south beach is a shiteshow in terms of the crowd, and sunny isles is just all russian mobsters. South of Fifth is just a perfect area and tourists dont really venture over bc everything is so expensive, thats why they like ocean drive from 5th to 15th, once you cross 5th those $9.99 dinner specials vanish and oddly enough the ghetto people do too.
MIami imo is on the cusp of being a new manhattan, seriously trading is all done via computer and you cant beat year round great weather and no state taxes. South of Fifth is just money in the bank, the area is just 5 blocks so it will always imo be the best area in town just bc of the condos there, if you want miami property i highly suggest SoFi and no other area as an investment.
Property values in miami beach have more than recovered, up to 200% off the lows in most of the ocean front premium buildings. The less desirable buildings are still up close to 100% from the 2010 lows. Miami is struggling with a lot of south american cash now, but most condos are paid for in cash so struggling means no buyers but no foreclosures or very few.
As for food, again south of fifth is where it all is, all the best are withing a 2 block radius: prime 112,milos,joes stone crab,il mulino,prime fish,prime italian all are on 1st street between ocean and alton which is why I love my area, I fly in town and I dont leave the neighborhood. Miami downtown is booming but the traffic is miserable, south beach is a shiteshow in terms of the crowd, and sunny isles is just all russian mobsters. South of Fifth is just a perfect area and tourists dont really venture over bc everything is so expensive, thats why they like ocean drive from 5th to 15th, once you cross 5th those $9.99 dinner specials vanish and oddly enough the ghetto people do too.
MIami imo is on the cusp of being a new manhattan, seriously trading is all done via computer and you cant beat year round great weather and no state taxes. South of Fifth is just money in the bank, the area is just 5 blocks so it will always imo be the best area in town just bc of the condos there, if you want miami property i highly suggest SoFi and no other area as an investment.
This post was edited on 5/17/16 at 7:09 pm
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