Miami real estate investment

It seems that Grant Cardone is now getting into the real estate field, and he’s doing so in quite a big way. Over just the past two years, he has already spent $250 million on properties all around Florida. He says that this first push is just the beginning, and hopes that he can invest a billion into the state before the close of the decade. He relocated to Florida from Los Angeles two years ago, which was when he started to buy up the property.

At the rate at which he is going, it seems as though that’s a very sound estimate on his part. Recently, he bought the Wellington Club in Lake Worth. The price paid for the 204-unit property is undisclosed. The Daily Business review says that he is also in the process of buying another property, this one in North Miami. In an interview, he said that there are many reasons to keep buying properties in Florida, so it doesn’t make sense to stop.

It’s true that Florida is a very popular place when it comes to real estate, and there are plenty of opportunities for those who want to invest as big as Cardone is doing. However, it’s also a haven for the smaller investor who might simply want to have one or two condominium units to rent out as an investment, since most people don’t have the capital of Mr. Cardone. Click here to view Miami real estate investment opportunities

So, Who Is Grant Cardone?

For those who don’t know, Grant Cardone is one of those guys who seems to have done it all. He started as an auto salesperson, and grew into someone regarded as a true international sales expert, not to mention a New York Times bestselling author. The five books he has under his belt include The Closers Survival Guide, Sell to Survive, If You’re Not First, You’re Last, Sell or Be Sold, and The 10X Rule.

He is also a television commentator, as well as the host of the radio show The Cardone Zone. He creates sales training programs for Fortune 500 companies, and is the founder of three different companies, including Cardone Real Estate Holdings, Cardone Enterprises, and Cardone Group. He also works as a motivational speaker. Motivated does not even begin to describe him.

Once you start looking into his accomplishments, you can see that his goal of spending a billion investing in Florida by the end of the decade is quite doable. In fact, chances are good that he could do that even before the close of the decade given his current pace. It should be interesting to watch and see what happens over the next few years as he buys, and possibly starts developing, more properties.

Even though most don’t have the money that Cardone has, that shouldn’t stop them from looking at buying in Florida. Individual units can be a great way for someone to start investing right now. Plenty are available, and it is possible to find them at a variety of different price points.

Miami new condos

Some people are starting to worry that we could be facing another real estate bubble in the South Florida area, but many experts feel that these fears are premature. They feel that there is still plenty of room for growth in the counties of Palm Beach, Broward, and Miami-Dade. One of the reasons for the fear is that developers in the area are already proposing a large number of additional condominium units in the area – more than 33,000 of them in fact.
Click Here To View All Pre-Construction Condos In Miami

Where Will the New Units Be?

Currently, the downtown area of Miami looks as though it will be getting approximately 17,400 units across 59 new towers. While this might seem like a substantial amount, it is important to remember that during the last boom, the area became home to 22,200 units with 84 towers. Sunny Isles, another very popular neighborhood in the area, is slated to have 14 new towers and an additional 1,800 units. During the last boom, developers created 6,200 units among 28 towers.

Because of this boom though, people fear that history could repeat itself. After the last boom, they remember the crash of 2007. While it is understandable that people want to be cautious, the world and the economy today are in a different place. It’s not nearly as likely that this type of crash will happen again. Still, caution is always smart no matter the state of the market.

What Makes This Different

Even though there might be a large number of proposed units in the pipeline, there is not the same rush as there was before. The towers and buildings are going up more slowly. Less than twenty-five percent of the proposed units is under construction right now. Many of the others are still waiting for approval. It’s important to remember that these are only proposed units. The ones that are not awaiting approval, having already cleared, will be units that go forward only when the developers can get enough presales to show that there is still an interest in the units in the area, and that they’ve already sold enough to make it viable. This means there will be no vacant towers desperately looking for owners as we’ve seen in the past.

This keeps the progress at a slower pace, which may actually be much better for the overall real estate market. It ensures that the growth does not happen too quickly, so there is far less of a chance of the bursting bubble and crash as there was seven years ago. Despite the skepticism that some have, it’s far too early to know what the market will be like in a few years. As always, buyers and sellers alike need to watch carefully in order to get an idea of where the market will be moving. Still, given the current popularity of the South Florida area from a buyer’s perspective, it does seem as though the market could be looking up for quite some time still.

St. Regis Bal Harbour Miami

Recently, the south tower penthouse, unit 2501, sold for a whopping $22.75 million at St. Regis Bal Harbour. The previous owner was a Delaware corporation owned by Yuriy Kosyuk, a Ukrainian billionaire who made his money in poultry and food products. Strangely enough, the buyer also happens to be a company from Delaware.

What Makes the Unit and Building Special?

The unit is massive, measuring 14,129 square feet. It includes 11 bedrooms and 12.5 bathrooms. It’s also relatively new, since the tower only went up a couple of years ago. Originally, the space was going to be five separate units, but they combined those units into one large penthouse property instead, so it takes up the entire top floor of the building.

One of the best things about this penthouse is that it offers wonderful views of the ocean, the city, and more. It features more than 4,000 square feet of terrace space as well.

As wonderful as the unit is, the building itself is quite special as well. Some of the amenities at the building include a private swimming pool, housekeeping services, a concierge, dry cleaning and laundry, and more. It even offers a gym so residents can stay in shape. They also offer onsite dining. It’s a remarkable place to call home, and it is no wonder that the units in this building tend to sell rather quickly, and for more than many might imagine.

Of course, one of the other reasons to love the building is the location. It is literally right on the beach and offers nearly a thousand feet of beautiful beachfront. The St. Regis Bal Harbour is also close to places such as Miami, Fort Lauderdale, the airport, and a host of attractions.

Why Do People Love Penthouses?

What is it about penthouses that make people love them so much? They are on the top floor, so it means that the views will always be nice, naturally. It is also something of a symbol of being on top in life, not only in the apartment. Penthouses do not come cheaply, as you can see from the price this one sold for, so it serves to show one’s status. It is true luxury living, and that’s just what someone wants when they are in South Florida. Whether they are there on a vacation in their second home, or they are using the property as their primary home, penthouses are ideal.

In addition, some people want and need to have more space. Many of the penthouse units also have more features and amenities, such as private elevators. These additional features help to make the idea of a penthouse even more attractive for those who can afford it, and they are even better in South Florida because of the great location.

Of course, you have to keep in mind that penthouses are rare. Towers generally only have one or a couple at most. This is something else that contributes to their greater cost.

Miami real estate

The price of homes located in the Miami Beach area is on the rise according to data recorded by Standard and Poor’s/Case-Shiller between March 2013 and March 2014. They showed that the prices for homes in Miami-Dade, Broward, and Palm Beach counties showed an increase of 1.6 percent between February and March during the usual seasonal adjustment. They also showed that the price of homes across the nation took a jump of about 10.3 percent over the course of the year. In South Florida, the price rose by about 16.2% in that time.

What Could the Numbers Mean?

This shows us several things. First, it shows that interest in the properties in the area is at an all time high and that the interest is still growing. It also shows that, even though the prices are rising, people are still willing to buy for several reasons. The location is great. They will be near the things they want to see and do, making it perfect for a fulltime home, a vacation home, or even an investment property.

Of course, a good location close to the water also helps when reselling, and smart buyers know that. Waterfront properties, for example, tend to gain quite a bit of interest from buyers, so being in a beach area is always a good thing for buyers.

One of the other nice things to note is that it is currently a buyer’s market in South Florida. Even though the prices of the homes are rising, and it is a good idea to act fast when you see a property that you life, there are plenty of options out there. This means that the price of the homes will still need to stay in line with what the market will bear.

South Florida Active Listings on the Rise

Listings come onto the market all the time, so buyers will always have new properties coming onto their radar. The South Florida housing inventory rose to 41,712 active listings in late may. Sales dropped just slightly from 22,000 to 22,157 over the last week, and the number of pending sales dropped by approximately 375 over the course of the month.

As you can see, there does not seem to be a shortage of properties available for those who want to buy in the South Florida area. When choosing property though, it is important to look at everything that you can in regards to the location, amenities, and features. Having a property right at the beach is a great thing, and many condominium complexes in the area have places available for buyers right now. However, buyers also need to consider the quality of the place, the size, and the price to make sure it really is a good investment. Working with a good real estate agent who has experience in the area is the best way to make sure that you are getting access to the best possible properties.

Visit the website to view all available homes for sale in Miami Beach

Miami Beach real estate

When many people think about residential real estate in Miami Beach, they immediately start thinking about all of the residential properties and condominiums that are available right on the beach. However, as plentiful as they are, residential real estate is certainly not the only game in town. Commercial property is also a big seller, as is demonstrated by two recent sales that brought in a large amount of money.

South Beach Gallery/Home of Romero Britto

Brazilian artist Romero Britto recently sold his home, which also serves as his gallery and showroom called Britto Central. The building, located at 818 Lincoln Road, has been a fixture of the area since 1935. The last time this property sold, which was in 1993, it went for $335,000. The sale price this time was $34.5 million.

The buyer was a company based in Montreal called 818 Lincoln Investments. The manager of the buying company was Danny Lavy, who also happens to be the CEO of Elite Group Inc., a company that distributes household products.

Another Lincoln Road Building Brings in the Big Bucks

Just one week after the sale of the gallery, another retail building in the area, just a short distance from Britto’s gallery, sold for, again, $34.5 million. In this deal, JSRE Acquisitions bought the 716-720 Lincoln Road property. This building was bought by a company called 718 Lincoln Owner, and there was no financing recorded.

The seller was Investment Group of Miami, who had actually owned this 7,500 square-foot property in South Beach for twenty-one years before making the sale. This building is nearly as old as the gallery, having been constructed in 1936. It is just between Forever 21 and H&M. Currently, the company that leases the property, RFK, says that the two businesses occupying the spaces in the building are Cache and American Apparel.

What Will Happen at These Sites?

It does seem quite strange that within a week of one another, two properties very close to one another would sell for the exact same price. While there is the possibility of a connection, very little is actually known at this time, and it could merely be a coincidence.

Of course, there is also the possibility that a large company, or conglomeration, could be buying up land and properties in the area as a means to begin planning a future development. Again, it’s too early to tell exactly what will happen at these sites. They could continue in their current capacity with absolutely no changes whatsoever.

Still, it should be quite interesting to watch and see what does happen, and to keep an eye on the area to see if there might be any more of these big dollar sales in the coming weeks and months. After all, it is important to keep this area of Miami Beach in mind. It has a great location that is quite popular with developers, and there is every chance that we could be seeing the very beginnings of one or more new developments.

Miami real estate

If you are extremely wealthy and have an additional $38.5 million burning a hole in your bank account, then you might be interested in purchasing the Kennedy Compound located in Palm Beach, FL. That’s right; this famed home, the Winter White House as many called it, is actually for sale right now. This property was one of the main homes of the Kennedy family from 1933 all the way up to 1995. Consider for a moment the price that the previous buyer, John K. Castle, paid for it in ’95. It only cost him $4 million. During that time the property, which was once in danger of being torn down, underwent a massive $6 million renovation.

Let’s go back a little further in time and see what Joe Kennedy paid for it in 1933. He paid just $120,000. Of course, that amount of money went a lot further then than it does today. Originally, the home, designed by famous architect Addison Minzer, was for Rodman Wanamaker, owner of a number of department stores. Wanamaker had the house for about eight years before selling it to the Kennedy family.

What Does $38.5 Million Buy You Today?

What will the lucky owner of this home have in store for him or her? The home is massive, coming in at 15,500 square feet. Originally built in 1925, the home features eleven bedrooms, as well as a tennis court and a pool. While it certainly has other features and amenities – after a $6 million renovation, it has to have quite a few amenities that will make it truly special – we know little about the property today. The current listing for the property is still a bit on the sparse side, with the brokers offering very little information on the property other than the historic nature and the great views of the ocean.

The neighbors say that the Kennedy Clan always spent quite a bit of time in Palm Beach at the compound, particularly during the holidays. They also say that up until Castle took over and completed all of those renovations, they thought the property would be a tear down, simply because it looked worse for the wear. Castle’s renovations changed all of that, and it is a shining example of Palm Beach beauty today.

Information Is Scarce

One of the reasons that the information is limited right now is because the brokers and the sellers realize what a high profile home this is. They want to draw attention to the property, but they don’t want people coming out of the woodwork to get viewings of a home they could never hope to afford! Keeping the sale a bit quieter might be a good tactic in this case. Those who can afford it surely already know about the property and have the inside information they need.

Few people in the world are able to afford a property such as this. It will be interesting to watch the saga of the property and to see who buys it next.

If you’re on the market to buy luxury property in Miami please contact Lana Bell at One Sotheby’s International Realty today!

Miami condos

Just how healthy is the housing market in Miami today? Around the country, we’ve seen quite a big change since the crash of 2007, and things have completely reversed. This includes Miami as well as entire South Florida, although it can be a bit difficult to predict the future. Still, looking at the way things are right now, the real estate investments are looking very strong, and there is a healthy amount of competition in the area. Agents feel that one of the reasons that it is difficult to get a full picture of the market is that each of the different areas are a microcosm unto itself. They have their own supply and demand, and people have to take a step back and look at the big picture to try to understand just how things are going. (Visit Miami real estate website HERE)

What Types of Properties Are Available?

One of the nice things about South Florida is the fact that you are never going to be at a loss when it comes to different styles and types of properties. You can find some relatively simple single-family homes if that is what you are after. You can also find some massive luxury estates right near the water if that is what you prefer. Of course, you many find that buying a unit in a luxury oceanfront condo is more your style. Buyers have many different types of properties at their fingertips.

Is It a Buyer’s Market?

Right now, it appears as though there is about six to seven months worth of inventory available in the Miami area, although different neighborhoods may have more or less depending on a number of factors. Still, this is a good amount. They consider anything more than a six-month inventory to be heading into the realm of the buyer’s market, even though some agents will not say that it is there quite yet.

What does it mean to be in a buyer’s market? It essentially means that the number of properties available is greater than the number of buyers. Even though South Florida is hugely popular and there is not a shortage of buyers, there could be a surplus of homes in the short-term. This means that the buyers will have more leverage, and that they could potentially get the homes for a better deal since the sellers have so much more competition. If a buyer does not like the price of one property, he or she can go and find a similar property for a price they do like. This puts a bit more pressure on the sellers.

A seller’s market would be just the opposite. There would be a shortage of available properties, and the prices for them would go much higher, sometimes resulting in bidding wars for certain properties.

It’s best for both parties when the market is balanced, and that looks to be where South Florida could be headed soon. The number of buyers and the number of homes should balance one another. Overall, the strength of the market right now in South Florida appears to be quite good.

2013 was the best year Miami real estate prices (click here to see Miami real estate website) and property values have seen in the better half of a decade. Prices on luxury Florida homes gained 16.5 percent from 2012 to 2013, according to a Case-Schiller index for Broward, Palm Beach, and Miami-Dade counties.

The real estate market all over the United States has rebounded, though the rest of the country saw more modest gains than the Miami area, topping off at about an 11.3 percent increase over 2012. Market analysts are confident that this upward trend will continue, though perhaps at a slightly slower rate. What are some of the factors that will keep property values on a steady incline through 2014 and into the future? Thanks to marketing on the part of the city’s tourism board, Miami is becoming better known, all over the world, as a beautiful vacation destination.

In our latest reports, you will gather that the local South Florida market and especially Miami real estate market, has completely recovered and prices are back on the rise. In the charts below, we take a look at both Miami Dade’s and Broward County’s 2013 sale history. By overviewing the amount of housing sold along with the price per square foot, there is clearly an upward trend in both of these markets.

Sunny Isles Beach condo

An airline merger and new flights from different international locations are bringing more visitors, business people, and potential future residents to the city every day. The film and entertainment industries, along with several other fields, are doing more and more work in south Florida. All of these things add up to Miami looking more and more attractive to potential homeowners, which drives up property values across the board.

The Miami tourism board has been working overtime to bring awareness of this beautiful city to travelers and business people around the world. The more tourism and travel Miami sees, the more people will be made aware of what a vibrant place it is to live. The film and entertainment industries have fallen in love with Miami – and with Florida, in general. The city makes a beautiful and versatile backdrop for all kinds of films and other ventures. This not only raises awareness of the area, but it also funnels jobs and money into the area. More job opportunities in the area mean more people moving in, a higher demand for real estate, and a healthier real estate market.

A future rise is expected for 2015, and current year prices are hypothesized to remain stagnant. Despite desire for growth, this is a positive projection because too much upward growth in the market could result in instability. Moreover, there is and will be a massive increase in South Florida inventory which may also contribute to the plateau effect. A healthy and constant economy should be one that adapts to the overall market and avoids any rapid growth. South Florida is the most stable it has been in over four years.

Another growing trend in South Florida is the super luxury market. Both counties are successfully selling condos and housing in the $5 million range and upwards. This part of the market has a huge impact on the economy, and again there is a noticeable increase in this particular area of the market.

N. Bay Road Miami Beach House

Miami has a rich and unique relationship with the big screen and Hollywood, which dates back decades upon decades. Not only is southern Florida’s most bustling metropolis famous the world over thanks to films like the 1924 silent classic “Miami”, the hit TV show “Dexter”, and both the TV and film versions of “Miami Vice”, but Hollywood literally comes to Miami on a regular basis. And when it does, it brings its revenue with it.

Let’s take a look at the breakdown of how the film industry affects Miami’s economy. We’ll go from smaller numbers to larger ones. You may be familiar with some of these figures, but others may surprise you in a big way.

Miami and the Oscars

Quite a few very important scenes in “The Godfather: Part II” were filmed in the Miami area, bringing a lot of attention to our fair city. When the film won 6 Oscars, it brought even more attention. Movie tourism is a very real and powerful thing. When films show off a city, fans want to visit, especially when those films show off how beautiful the city is and how many glorious beaches are within easy driving distance.

The Miami Entertainment Complex

This 70,000 square-foot municipally owned production complex is the brainchild of the brilliant staff at Miami’s own Omni Community Redevelopment Agency. The complex will feature two 10,000+ square-foot sound stages with 50-foot ceilings, gaming and 3D animation suites, a digital imaging motion capture studio, and tens of thousands of square feet of offices and storage.

Celebrities in Residence

Matt Damon isn’t the only celebrity homeowner in Miami, but his North Bay Road house complted in Mediterranean Revival style, is a great example. The Oscar-winning star’s house has a list price of over $18.99 million. With money like that pouring into Miami Beach real estate, we’re sure to see property values all over the city on the rise.

Employment Opportunities

There are approximately 100,000 film professionals living in Florida. Over the past 3 years, the film industry has brought $658 million into the state to pay their wages alone. That doesn’t even count other expenses, like rental properties and other filming essentials. With the film industry employing this many people in the area, Miami has been booming.

Overall Economic Impact

Speaking of “other filming essentials”, it’s been estimated that the film industry has brought over $1 billion into the local economy. That means more money is being pumped into real estate, local retail stores, the service industry, etc., all over the city and the rest of Florida.

The Appeal of Tourism

As we’ve discussed, all of these amazing benefits that the film and entertainment industry has had on Miami, we haven’t even touched on tourism. Tourism, spurred on by Miami’s appearances in so many films and TV shows, is expected to bring in somewhere between $1.6 and $5.9 billion in the next 3 years, alone. That means more business for local stores and restaurants, as well as hotels and resorts.

The film industry has already impacted Miami in a hugely positive way. We’re excited to see how it helps our beautiful city grow and develop.

Bath Club Miami Beach

Miami Beach has a lot of wonderful history to it and The Bath Club Miami Beach is part of that. This particular development dates back to 1926, though the condominium portion of it only dates back to 2005. In the 1920s, this was a very happening place to be, where celebrities, politicians and other powerful people all met and mingled to party and enjoy getting away from it all in sunny Florida.

The new tower, built in 2005, is 20 stories high and offers direct access to the ocean. There are 118 condominium units located in the development, and this is one of the most desirable locations available in Miami Beach. CLICK HERE to view available units for sale and rent.

The Property

The Bath Club is, for most people, the centerpiece of this development. It features private ballrooms, game rooms and more. The Bath Club is designed to be a fully functioning residential development, however, and that means people need more than diversions when they are at their homes.

There is a business center available to residents, making it easy to keep up with necessary tasks. If you need to stay in shape, you’ll find a personal training service available, providing you with the best way to stay fit, even if you do have to stay at home a lot and get some work done. There is also 24-hour security available at this establishment, meaning that people who do have a need to keep private will find everything they need for a safe and secure environment at The Bath Club.

Of course, given the history of this establishment, there are many opportunities to have fun. There is a lounge in the courtyard, 540 feet of direct beach access and a full concierge service available on the premises. There is also a game room available, complete with billiards. If you want to relax with a spa service, you’ll find it available here.

There are high-speed elevators that run up and down the 20-story tower, with private and semi private options available. Each individual unit has its own intrusion alarm, and you come into the property through a beautiful grand foyer.

In the residences, you’ll find 10-foot ceilings. The doors are solid core and the residences are very private. Gourmet kitchens are accentuated by high-end appliances, making this a perfect residence for people who like to cook at home, right down to the Italian espresso machines included in the units.

The cabinetry is European and the countertops are granite. Go into the bathroom and you’ll find a frameless glass enclosed shower with high-end finishes, as well.

Getting In

The history of this establishment will make it compelling to many buyers. In addition to its history, however, it is outfitted with the most modern of amenities, from the state-of-the-art security to the state-of-the-art appliances in the kitchens. This is a wonderful place to call your own if you want to live in Miami Beach and be in the heart of it all and spend your time where some of the most famous celebrities and politicians of the past once spent their free time.

Contact our expert Bath Club realtor Lana Bell at (305) 336-0457

Content published by Lana Bell

Content published by Lana Bell