Hello.
Thanks for taking the time to find out about my blog. I wanted to create this page as a way to highlight investment opportunities that exist within the Miami marketplace to a global audience.
I am currently ranked one of the top 10 brokers in Miami Dade County and this is the best year I have ever had because I was able to adapt and concentrate my efforts to where the buyers are. Namely, international money focused primarily in Moscow and London and international hedge funds looking for bulk sales with developers that are in trouble.
The international buyers have been a great niche because they are buying properties in a currency that is much stronger against the dollar and it will serve as a hedge for them if they are paying in cash when our dollar will strengthen (presumably after our next Presidential election). I am also directing them to quality purchases which will have a larger percentile of equity growth in relation to the overall marketplace when the pendulum swings to positive ground again, which by expert accounts should be within the next 2-4 years. For a foreign investor in Miami (and US based real estate investments) it’s a win-win. Buy with stronger currency and have the growth of the dollar and buy quality properties with higher equity growth than the remainder of the market when it returns.
Hedge funds have been another specified area of concentration which has provided great growth. Wall Street had focused on Miami in a big way because of the oversupply of condos that exists. The current saturation rate is 12 years, which is absurd. Miami’s population growth will not justify such a number. What is now happening are hedge funds coming in and purchasing in bulk from developers that are in trouble and in turn getting deals (almost at 50% of value), renting them and comfortably having a holding pattern of 4-6 years and then realizing a great profit.
What I plan to do through this blog is present investment opportunities for the individual investor looking to purchase a single property, a foreign investor looking for a deal on a high end property or a hedge fund looking for a bulk deal.
I am open to your questions to guide you through the process. There are many brokers in Miami, but few with my experience and track record coupled with my experience as an investment banker in New York for Deutsche Bank and UBS for 10 years.
Thanks again and welcome to the site!
Michael Valdes,
Senior Vice President
SOL Sotheby’s International Realty
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1 comment:
I'm excited to hear what opportunities you see existing down the road. While the future is never certain, we can take definitely advantage of where the current market hints it will go!
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