Miami Condos Investments

72 responses so far ↓

• 1 An Analytical Analysis of Analyzing Condominiums // Jun 15, 2007 at 2:13 am

  [...] About Me [...]

• 2 govokinolij // Jul 13, 2007 at 2:58 am

  Hi

  Looks good! Very useful, good stuff. Good resources here. Thanks much!

  G’night

• 3 Julio Bonilla // Jul 31, 2007 at 5:07 pm

  Dear Lucas,

  Just wanted to let you know that your site is very informative and well presented.

  Julio

• 4 Lucas Lechuga // Jul 31, 2007 at 6:00 pm

  Julio,

  Thank you very much! I appreciate it.

• 5 John // Aug 12, 2007 at 5:04 pm

  Lucas:

  Do you plan on posting any information on what transpires at the September 20, 2007 auction of the Platinum Condos? I’d love to know what the square footage is of each auctioned unit, what each unit ends up selling for at the auction, etc. Do you plan on posting any of that information? If not, do you know where I could get that information? Any help would be appreciated.

• 6 Lucas Lechuga // Aug 12, 2007 at 6:25 pm

  Most definitely. There is a lot of interest in this auction. I will most likely writing something about the auction about a week prior to the auction and something within a few days of the auction. I will make sure to keep good notes on what happens that day.

• 7 ROBERTO Massuh // Aug 15, 2007 at 11:44 am

  Do you have any listings at the Jade?

• 8 Lucas Lechuga // Aug 15, 2007 at 11:48 am

  No. What are you looking for? I just saw a gorgeous 2 bedroom there on Monday with direct water views. The owner is very motivated.

• 9 R. Ramirez // Aug 24, 2007 at 11:33 am

  Great site. As a native new yorker who likes to travel to Miami I’ve always been intrigued about buying a new condo. Your website provides a wealth of information.

• 10 Lucas Lechuga // Aug 24, 2007 at 7:27 pm

  Thank you! I appreciate that.

• 11 John philipps // Sep 4, 2007 at 9:23 am

  Lucas,
  I am supposed to be closing shortly on a 2 bed/2 1/2 bath 1200 sq foot with balcony with direct water views at Onyx on the Bay. Would be interested in getting out of contract and minimizing loss. Any opinion on that buliding?

• 12 Lucas Lechuga // Sep 4, 2007 at 6:17 pm

  It’s a very nice building, but like Platinum, it is in a neighborhood that will take at least 3-5 years to justify the prices at which those units sold. Star Lofts will have the same problem as well.

• 13 maire // Sep 6, 2007 at 12:06 am

  Do you have any thoughts or info on the Brickell Station Villas? My son is interested in purchasing. I understand the building is due for completion in Jan.
  Thanks.
  Maire in California

• 14 dean // Sep 15, 2007 at 2:14 pm

  FANTASTIC page

• 15 Armando Uriarte // Sep 21, 2007 at 10:09 am

  Great site. You are very clear on what you do. Are you a real estate broker? I’ve lived in Key Biscayne for 48 years. Any info on the condo market here?

  PO Box # 490084
  Key Biscayne, FL 33149

• 16 Andres // Sep 21, 2007 at 11:17 pm

  Lucas, I’m glad theres people out there like you. You seem ethical, it’s about time we see that moe often down here in our neck of the woods.

  Do your thing!
  Andres

• 17 Lucas Lechuga // Sep 24, 2007 at 9:12 am

  Thank you Andres!

• 18 Orlando // Sep 24, 2007 at 1:49 pm

  Lucas,
  do you have a map of the Miami & Beaches area that shows where all these new & existing condo buildings are located ? Perhaps a zoomable JPG or PDF ? It would really help people from out of
  town (who are not already familiar with the buildings) to be able to quickly find their location . Thanks…

• 19 geniusofdespair // Sep 25, 2007 at 10:07 am

  Very good blog, just saw it today for the first time from Patrick…thanks for all the info…

• 20 a // Sep 25, 2007 at 10:50 am

  Excellent blog. I check it everyday now.

• 21 Federico A. Arocena // Sep 25, 2007 at 3:13 pm

  Good job Lucas!!,
  Please kindly let me know if you have more auctions or any other opportunities going on. I am a real estate agent and an investor. Have also potential investors for this kind of deals. As I also specialize in foreclosure related properties, we might be able to do something interesting together and also help unfortunate borrowers.

• 22 FellowMktMaker // Oct 14, 2007 at 9:54 am

  Sweet blog Lucas! As a former Miami native, now living (and trading options) in Hong Kong, I find your property acumen savvy dead-on . Your analysis makes a lot of sense and it seems you are building quite a following. Keep up the good work.

• 23 Lucas Lechuga // Oct 14, 2007 at 6:59 pm

  Thanks! Fellow Market Maker. I’m hoping that the site continues to get better over time.

• 24 a.gerstl // Oct 17, 2007 at 12:17 pm

  is LATITUDE ONE selling well? do you know price ranges?

• 25 jaywood // Oct 19, 2007 at 9:22 am

  Nice work, Lucas. In any of your condo building lists, do you mention who is the developer and the lead bank (eg, Corus)?

• 26 m.f. // Oct 20, 2007 at 8:35 pm

  You are doing a great and very useful job .
  One developer is trying to recup part of the project development cost by charging all buyers
  a prorata share of his impact fees.Where can we check if it is legal?Next think you know others will charge for their construction permit fees and maybe the interest on their constructtion loans!

• 27 Charles Johnston // Oct 29, 2007 at 12:46 pm

  Charles Johnston // Oct 29, 2007 at 12:39 pm

  Looking for a real good deal. 2bed 2.5 bath don’t want to spend more than 300k. Can I get something like this in Brickell through you. Are bank owned good deals at this time. Please give me your opinion.

• 28 Jose Murillo // Nov 20, 2007 at 5:54 pm

  Great Site, it has a lot of information, congratulations! if you could post more updated pictures of each Condo that will be great because people that does not live in south Florida will have better idea and can get motivated. You price ranges, pictures, and the information you. You’ve got it !

  Thanks,
  Jose Murillo

• 29 T.T. // Nov 28, 2007 at 3:09 pm

  Your web site is great, compliments to you. I am looking for a 2 br,2 baths condo in miami, will spend up to $300k I want to narrow my search down to six or eight buildings that will make this a good investment over five years.My daughter and roommate will live there during that perioud. Could you help with recomendations?
  Thanks T.T.

• 30 Mario // Nov 29, 2007 at 7:19 pm

  Great Site! Definitely very informative…I will be attending the Dec 15 auction and have already registered for the event. I’ll call you to talk a bit more about it this being my first auction…Any news on any others auctions from the last few months?

• 31 robin // Nov 30, 2007 at 8:20 pm

  Amazingly thorough info here. I had almost lost all faith in realtors. Will be looking for a bargain over the next year or so in a new condo in Miami area. Will be contacting you to discuss details.
  Congrats on a great site,
  Robin
  North Alabama

• 32 Lucas Lechuga // Dec 1, 2007 at 2:59 am

  Robin - Thank you! All Realtors aren’t dishonest. I know four or five other ones in Miami that aren’t. That was a joke! The truth of the matter is that most of the dishonest Realtors have fallen to the wayside within the past year. Honesty brings referrals and repeat clients while dishonesty brings resentment. Do you know what a chazzer is?

• 33 Lucas Lechuga // Dec 3, 2007 at 12:16 am

  The information on this page is likely to change within the next couple of months. I plan to add one other Realtor to my team within the next week or so. I also have another Realtor that will be joining my team in January.

  I can’t speak for other Realtors in Miami but I’ve personally been inundated with leads lately. People are buying! I’m not going to say that the market is in a recovery stage because it’s not. It will take far more buyers to get this market to that point but the good news is that some people are buying because there are some great deals that are finally materializing.

• 34 Raul // Dec 7, 2007 at 5:33 pm

  Hello,

  I’ve been looking for information regarding condo’s in south beach, specifically with foreclosure/pre-foreclosure information. The information on your blog has been helpful.

• 35 Adrian Salgado - RED I Realty // Dec 10, 2007 at 8:33 pm

  Hi Lucas,

  Just wanted to commend you on what a fine job you do with this blog and the thorough research that goes into it.

  It’s very encouraging to see that substance is slowly starting to displace flashiness and “style” in the local real estate market.

  Keep doing it. I am a fan.

• 36 Lucas Lechuga // Dec 11, 2007 at 12:28 am

  Thank you Adrian! That’s a huge compliment.

• 37 Michael Cooper // Dec 11, 2007 at 3:23 pm

  Lucas,
  Great blog. What can you tell me about current activity at Mirador 1000. Is there any hidden things to know about problems with the condo assn / budget deficits etc? I had a unit that I sold and did well on, but actually always liked the building and have been watching for a cheap opportunity to buy back in. If I’m thinking in a long term way, as a place in the sun and not an investment, what are your thoughts

• 38 mapra // Dec 16, 2007 at 6:17 am

  your opinion about CONTINUUM I ?

• 39 FD-Condo-Hotel-Miami-Beach // Dec 22, 2007 at 3:27 pm

  Mapra,
  I consider Continuum I as a very nicce building, very specific with its location at the end of South Beach, and a good investment.
  Best regards.
  FD - Real Estate Broker

• 40 Dania // Dec 30, 2007 at 11:22 am

  What’s your opinion about Met1?

• 41 Lucas Lechuga // Jan 1, 2008 at 8:18 pm

  Dania,

  The location of Met 1 is great. I haven’t been inside the building yet so I can’t tell you whether or not the end product is worth the money. Are you a contract holder?

• 42 PotentialBuyer,Esq // Jan 2, 2008 at 4:48 pm

  Hi, very informative discussion. This blog appears to attract people knowledgeable in real estate affairs so I decided to post this hypothetical scenario. I was curious if Lucas or someone else can make the case for why a hypothetical young professional should want to buy a Miami condo anytime in the future for personal use. The hypothetical professional currently rents a personal residence in Brickell Key and earns on its available cash approximately 10% annually through managed accounts. The professional has the following reservations about buying a condo for personal use:

  (1) possibility for future appreciation uncertain, and if any, appears less appealing compared to other investments
  (2) real estate taxes seem exuberant and in conjunction with maintenance fees increase monthly cost and reduce cash-flow available for other investments, i.e. monthly rent significantly less than carrying cost for a comparable purchased unit
  (3) due to professional’s specialized work, in a recession or down market, relocation to other metropolitan area is possible which could cause a premature sale of condo generating additional cost
  (4) deductions for mortgage interest not that appealing – partially offset by standard deduction and decreasing as time goes by
  (5) risk from cancellation of indebtedness income taxed at 35% if condo sells for less than face amount of loan [disregard just passed temporary relief legislation]
  (6) significant illiquidity compared to other investments
  (7) condo depreciates and may require on going repair and maintenance which in the case of renting is generally covered by landlord. By renting, professional reduces his exposure to unexpected repairs due to hurricanes or general wear and tear.

  On the positive side
  (1) If professional has to sell the condo and relocate after 2 years, and the condo has appreciated in value, the professional saves 15% in taxes compared to other capital investments [first $500k since professional is married]
  (2) Owning a condo has a sentimental value and allows professional to rearrange its own environment as he likes

  Professional cannot think of other conceivable reasons why he would want to tie available cash and/or borrow money to purchase a condo in Miami. Is the professional right in his choice to continue renting, or is he delusional about owning real estate and the financial advantages it offers?

• 43 LP NJ // Jan 15, 2008 at 11:29 am

  Lucas, great site. Do you or anyone know the rules for getting your 5% portion of the 20% deposit? My understanding is that the builder can only keep a max of 15% .

• 44 Lucas Lechuga // Jan 16, 2008 at 12:36 am

  LP NJ,

  From my understanding it depends on if the development was filed with HUD. You’ll have to check your contract and speak with an attorney that specializes in condo litigation.

• 45 Michael Branco // Jan 20, 2008 at 5:15 pm

  I love your site. If you get a chance can you review my web site and plug it on yours. I came up with this concept for my carpet cleaning business and I’ve been working on it daily, growing my data base for all Miami Condo Buildings and growing outwards.

  Thank you,
  CEO MiamiMailingList.Com
  CEO MiamiCarpetCleaning.Com
  Michael R. Branco

• 46 Lulu // Jan 20, 2008 at 8:06 pm

  What do you think about the downtown dadeland/kendall area?

• 47 Lucas Lechuga // Jan 20, 2008 at 10:54 pm

  Lulu,

  To be honest with you, my knowledge of the Dadeland/Kendall condo market is very limited. That being said, many of those developments were pre-sold at prices that were comparable to preconstruction prices for condo developments in downtown Miami. I don’t think this makes sense. Kendall is a nice community but I don’t think you can compare downtown Miami to Kendall. If prices for condos located in downtown Miami take a hit, then I think you’ll see prices in Kendall slide even more.

• 48 HairSite // Jan 22, 2008 at 4:19 am

  Hi Lucas, just want to say you did a FANTASTIC job with your site. Very informative with a lot of substance. Please keep up the good work. I will contact you shortly and see if you can help me locate a property in SoBe.

  Thanks

• 49 jackie myers // Jan 25, 2008 at 12:52 pm

  Do you know when the next acution willbe on condo units in foreclosures by builders. I am looking to purchase 10 new condo that will be going to foreclosure in Miami or whever you can guide me

• 50 Lucas Lechuga // Jan 25, 2008 at 5:11 pm

  Jackie,

  I haven’t come across any new auctions lately. I’m kind of surprised. If I come across an auction I’ll be sure to post it on my blog.

• 51 Abdul // Jan 29, 2008 at 12:17 am

  Hi Lucas, What is your thoughts about the condos market in Coral Gables. Is it any different thank the rest of Dade county (better?)

  Thanks for your thoughts

• 52 Will // Jan 29, 2008 at 9:23 am

  Hi Lucas, Could you please send me an email? I want to talk to you about some info, but not out in the open. I would appreciate it. Thanks Lucas

• 53 Robert Zimnicaru // Jan 29, 2008 at 9:59 am

  Good luck! …and keep in mind that an online petition to have the online blogging community with you will help you! Drop me an email if you want to discuss more about online petitions.

• 54 PTR WG // Jan 29, 2008 at 4:33 pm

  Lucas,

  Who did you work for on the CBOE? I spent some time with PTR

• 55 Daniel hORNEK // Feb 2, 2008 at 7:56 am

  Thank you

• 56 Gwen // Feb 3, 2008 at 10:39 am

  Hi Lucas,
  You have a very impressive background. Chicago Board of Trade.. then real estate investor! Congratulations. I’ll bet you find the best deals being linked with the MLS.

  I am looking for some how to get a list of Miami foreclosures to offer on my website for free. Do you have any access to lists or where I can get them.. also something that I can get frequent updates would be very useful as I do not want to provide stale data.

  Thanks for your help!
  Gwen

• 57 Lucas Lechuga // Feb 3, 2008 at 2:21 pm

  Gwen,

  Thank you! I find my foreclosure data by combing the MLS. I am not aware of any foreclosure lists nor how you would be able to connect to county records to provide fresh content.

• 58 Marietta // Feb 6, 2008 at 9:43 pm

  Excellent blog!!! I have not clue about real estate or investments but I love to read your posts… Very informative!

• 59 Anthony Maiello - Working Title // Feb 14, 2008 at 6:26 pm

  Lucas- Fantastic Site with a plethera of information. Well done, will definitely refer my new homebuyers to you!

• 60 Jamie // Mar 9, 2008 at 12:49 pm

  Lucas,

  I agree with many of the comments I have read… your site has been very useful. I am a snow-bird from Michigan and would probably never cinsider buying a condo in Miami if I didn’t think that I could get a great deal. I have three kids and my wife and I would be looking more to use it two to three weeks out of the year while renting it out. Is this a wise investment in this market. If so what area or condos would you recommend in the $500,000 to $800,000 price range.

• 61 DKOR Interiors // Mar 11, 2008 at 2:15 pm

  Lucas,

  I love your site. Its a great way to get the inside scoop on what’s going on in the local real estate market.

  Time and time again, we work with Clients that need to complete their “decorator ready” units and they ask me about how much I think would be the right amount to put into an investment unit on structural improvements (floors, paint and stuff you can not take with you once you sell). Is there a percentage you could recommend? And do you find when unit owners add some design features to the units, it facilitates the sell?

  thanks & congrats again!

• 62 AJ // Mar 24, 2008 at 7:03 am

  Great insightful blog. Good Job Lucas!

• 63 YB // Mar 25, 2008 at 11:47 am

  Lucas,
  I am under contract to purchase a unit at AXIS on Brickell. It’s a beautiful 2b/2b unit that comes ready to move in. Closing is scheduled to occur next month (in April). Very interested to sell and will give a great price. If you have any interested buyers, please let me know or have them contact me directly.

  Many thanks.

• 64 Ted // Mar 26, 2008 at 11:46 pm

  Lucas,

  Best blog on Miami condo market! Keep up the good work!!

  Fellow Illini (BS Eng ‘87)

• 65 jmo // Apr 4, 2008 at 3:36 pm

  Hi Lucas!

  I think this is a GREAT blog you have going here. It is absolutely FAN-TAS-TIC! I really appreciate all the info! I would love your opinion on this condo that I am supposed to be closing on but am not sure if I should go through with it considering how the market is doing… It’s a 2 BA/2.5 BA, approximately 1600 SQ. FT. at “The Ivy at Riverfront” located in downtown Miami, (on Miami River). Seeing how the market is doing these days I don’t want to close on a unit that may be worth much less than I would have to purchase it for. ($550K and have 20% in deposits). How do you feel about this area or this building? I am lost, please help…

  P.S. Thanks again for sharing your opinions and information with us, you are helping out alot of us out here who are lost in today’s market.

• 66 plaza on brickell // Apr 15, 2008 at 12:56 pm

  jmo,

  I have the same dilemma. I’m guessing you are an original purchaser because our floorplans seem to be similar at the same price. I however bought at Plaza on Brickell. I was actually considering Ivy when they both came available several yrs back. I was going to keep this unit as my primary residence, but have since moved away for work purposes. Does fortune give you back 25% or your original deposit if you walk away?? That’s the only reason I’m considering walking away. I would lose more if I closed on it now then tried to resell it. I think Brickell’s amazing with the exception of the future traffic congestions. I’ll probably risk it and close on the unit anyway….haev about a month or so to make a decision. Good luck!!

• 67 Paul // Apr 28, 2008 at 10:04 am

  Has anyone heard word ont he staus of Closings for 900 Biscayne? Have not seen much about that project onthis site lately…. Any info would be appreciated.

  Paul Crissy
  ReMax Partners

• 68 Nelson // Apr 28, 2008 at 3:55 pm

  Hey Lucas,

  My son who is from chicago and living and working in miami for some time now, is looking for his first place to buy. He is in the banking industry and works in the brickell area. He would like to stay in the 150 range for a 1 bed 1 bath. what can you recommend that isnt going to kill him with maint fees and taxes.
  thank you kindly
  Nelson Simpson

• 69 tassy // May 15, 2008 at 7:00 pm

  HI lucas,
  Do you think that the crisis can be an opportunitiy for young french sales associate who would like to work in an american office?
  Thanks for your answer.
  Jerome TASSY

• 70 Sam // Jun 11, 2008 at 10:16 am

  Hi Lucas, Thanks for sharing. I’m interested bying a condo at The Club/Brickell, my concern is all the short sales/forclosures and i’m wondering how is the building coping with the funds to pay the bills… Do they eventually recover the funds after sale ?. I’m also interested in the Brickell Key 2 building it looks more stable. Inquiry minds what to know…. Thanks

• 71 Ammar Guni // Jun 26, 2008 at 6:36 pm

  Hi Lucas, Thanks for sharing condo. I’m interested bying a condo at The Club/Brickell, my concern is all the short sales and i’m wondering how is the building coping with the funds to pay the bills… Do they eventually recover the funds after sale ?. I’m also interested in the Brickell Key 2 building it looks more stable. Inquiry minds what to know…. Thanks

• 72 Beatriz // Jul 7, 2008 at 10:43 pm

  Hola,

  Cuando puedo ver los Condo Videos que anuncias en la pagina??

  Slds
  Betty

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