Miami is a Paradise for Real Estate and the same as Las Vegas with gambling, there is a professional organization constantly motivating you to spend your money. Therefore, it is very important before investing to know the keys to making a good deal:
CHOOSE A PROFESSIONAL TO REPRESENT YOU:
Having the advice of a professional to represent you does not mean additional costs. Interview several professionals and select the one most trustworthy to you to assist and defend your interests in a foreign market you don’t know. Work with a Florida licensed Realtor; do not work with companies or intermediaries that cannot represent you in the U.S. market.
In the U.S.A., both the seller and the buyer are represented by a professional and their fees are paid exclusively by the seller. Do not believe that buying directly from the owner will provide any benefits or additional price reduction. Consider in that case, that the Realtor represents exclusively the owner’s interests and not yours.
Also know that through the MLS system, any Realtor can have access to the same portfolio of properties; but keep in mind that not all deals represent to the Realtor the same commission and chances are that if Realtors are not trustworthy, they will only offer you deals which generate the higher commissions for them.
BE SURE YOU HAVE A COMPREHENSIVE SERVICE THAT TAKES CARE OF EVERYTHING:
Choose someone that provides a comprehensive service and that in addition to making the sale, also manages the property. It is impossible to well manage your investment from afar. Poor Management generates non-payments, fines, surcharges, higher costs and disappointments that undermine profitability and make it a bad experience. Do not pay more than you have to; a professional and efficient Management will ultimately pay for itself, making it free in comparison with the damages that can occur.
As important as buying something GOOD FOR THE BEST PRICE, is having a SUITABLE, RELIABLE AND LOCAL professional, that speaks your language and can also assist you both in the U.S.A. and in your own City.
BE INFORMED OF ALL EXPENSES AFFECTING THE RETURN ON YOUR INVESTMENT:
Be very careful when buying “opportunities” with possible hidden costs. Your representative must inform you about existing expenses and other extraordinary assessments, such as for special works that all 40-year-old Condominiums must undertake.
Request to also be informed of all costs associated with the purchase, maintenance and subsequent sale of your investment to calculate the rental income. Use our Profitability Calculator for actual numbers.
THE SUCCESS OF YOUR INVESTMENT DEPENDS ON THE TIMING OF THE SALE:
The realization of your investment materializes when selling; therefore, it is very important to have the advice of a professional who knows the market and its trends, to anticipate events that may affect the price of your property. This can only be provided by someone working permanently in the market.
MEET ALL THE POST-SALE OBLIGATIONS:
The work of your representative does not end with the sale of your property and the payment of their fees. Afterwards, you must file your tax return and proceed to the closure of your company, if you do not intend to continue operating it.
Failure to fulfill these obligations can cause future problems. Require your representative to assist and advise you until the end of the entire process and be aware that most Realtors disappear once they receive their commission.