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Non-Tech : Investing in Real Estate - Creative Opportunities
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Jurgis Bekepuris
To: tejek who wrote (2346)7/12/2014 1:47:31 AM
From: Riskmgmt1 Recommendation  Read Replies (2) of 2722
 
No, I don't think you will see the kind of boom/bust you see in NY, LA and SF in too much of the rest of the country for a number of reasons. However, I do think the list will expand some.......mainly coastal, port of entry cities like Miami. Miami is getting pretty built up and doesn't have much room to expand. What do you think?


Yes, I'd agree some other cities already showing rapid appreciation such as Boston, Houston and as you say Miami. Miami was one of the worse hit in the bust but now lots of new condo projects and prices accelerating, though still cheaper than similar coastal projects elsewhere. Of course it's a different market, akin to high growth stocks like AMZN whereas the blue collar type rental SFH's are like the dividend blue chips. Not much risk in the SFH' like John Vosilla buys, good return on investments and upside potential but it is a game for younger folks with lots of energy and patience. If you buy a condo in one of the recently built projects you can only rent it for about 40-50% of your expenses. Even if buying it for cash your return on rent is going to be very small by the time you pay for HOA fees and property taxes. Therefore it's more the greater fool theory idea of someone willing to pay a higher price and loose more money per month than you are. <G>

But this is the Cruz of it IMHO. People buying hi- priced apartments, townhouse's etc in big cities are interested in getting their grey money into something safer, or what they perceive as safer. Miami had a lot of drug money in the 80's flowing through the banks from South America and the Islands, much of it went in to real estate. Today who is buying those hi-priced condos? Mostly people from South America. Better to have a place in the U S even if it costs money each month than have it confiscated by the Government of Argentina or Venezuela. That's how I read it and much the same in London or New York just substitute Chinese and Russian grey money. Now we figured all of that out how do we profit from it? Over to you.............
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