Known for its beautiful white sandy beaches, diverse cultures, tasty cuisines, and near-perfect weather, Miami has earned its rightful place as one of America’s most popular travel destinations.
In addition to all that, Miami also has a very strong and healthy real estate industry.
When deciding where to invest in real estate, the location is always paramount to its profitability. And when that real estate investment is within Miami, Florida, then the odds of success are in your favor.
Is Miami a good place to invest?
Because Miami is on the list of best American cities for real estate investment, it boasts an 18.6 percent return year by year. Because local real estate prices are affordable compared to other major cities in the US.
Miami is very landlord-friendly.
You will be happy to learn that it means that Miami is one of the few places that offer landlords and real estate investors more freedom than most other states. For example: Miami doesn’t have any laws on rent control. It doesn’t put a cap on security deposits.
How is the real estate market in Miami?
The data confirm that in Miami property sales continue to increase. February was the best month in Miami-Dade County’s condominium sales history, posting a 13.2% increase over last year, according to the Miami Association of Realtors.
If you are wondering why to invest in Real Estate, I am going to leave you below the 3 best reasons:
- Property values increase over time. This fact can be verified with the historical values of the last 40 years.
- Real Estate offers a lucrative and secure investment. In addition to the equity that the property acquires over time, it can also generate monthly rental income.
- You can have Control of your investments. At any time you want, you can put the property up for sale and obtain the accumulated capital. Another option is to do a Cash-out Refinancing to obtain the accumulated capital.