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The 2013 Miami Real Estate Market Report
1. Kijner & Sons International RealtyKijner & Sons International Realty
PresentsPresents
The MiamiThe Miami
Real Estate Market ReportReal Estate Market Report
An Outlook for 2013An Outlook for 2013
ByBy
Laura Kijner & Marc-Henri J. KijnerLaura Kijner & Marc-Henri J. Kijner
www.kijner.comwww.kijner.com
10. Miami is a great investment destination
1.It is a secure market to shield assets and snatch trophy houses or condos in key
locations where one can hope for strong capital gain when the market picks up.
However, we advise you to be careful with high COA fees and strict enforcement of
HOA rules that can limit your management style
1.You can find numerous income producing properties:
Single home properties with single or multi-units: diversifying the risk
geographically with several units scattered around the city
Self-standing structure: you own a “building” with multiple units rented to a large
pool of tenants, geographically located in one area
11. Self-standing structures are great for domestic users (US residents vs. tourists) who
will rent your property for a continuous time period
Management fees are much lower here but one has to be careful with
inspection and ensure that properties are rent ready (ready to move-in = fully
furnished & equipped)
Observed monthly yield in May 2013 was as high as 15% and capital gain in
certain areas of Miami had more than doubled from last year
The main advantage of these multi-income units is the possibility of condo
conversion that can be engineered if you intend to renovate these units for future
use when the market picks up and tenants want to become landlords with more
accessible loans (when they are no longer restricted with their previous loan default
that has impaired them in purchasing a new home)
12. Regardless of your preference, Miami offers a vast choice of quality products with very
strong rental income – in the last quarter, the rental market has increased at an 8% vs.
3% rate in Bangkok, a city that mostly relies on wealthy expatriates to fill in the myriad of
1 and 2 bedroom apt. commonly seen here
Fiscal advantages can also help increase your overall ROI – the US gov’t enables you to
depreciate your property over 39 years for commercial and over 27.5 years for
residential. What determines the nature of your property is its use, the number of units
(5 or above) and the commercial value above $1 million. Although we have clients who
own several small residential units which may be qualified as duplex, triplex or multiplex
but still qualify as residential property.
Lastly and most importantly, depending on your management style, you can report
your expenses to create fiscal losses leading to a deficit. This deficit is reportable
overseas in your home country and can create a tax break. The disadvantage is that if
you count on building equity and use a leverage mechanism, you will have mostly no
ability to borrow money for a US structure that is not making profit. You cannot have
your cake and eat it!
13. Profile of International BuyersProfile of International Buyers
In Florida (2012 Data)In Florida (2012 Data)