Tech Industry
Yesterday
2204
Lack of diversity in engineering division at X
Software Engineering Career
Yesterday
787
[India]You are dumb to think Tech people earn more than Govt employees these days
Tech Industry
Yesterday
2670
1 vs 5 Million - no lifestyle change
Ask Blinders
Yesterday
572
Why is our country owned by Israel? I don't want my tax dollars fund genocide. How can we stop this nonsense?
Tech Industry
Yesterday
352
Bitcoin is the only possible future
https://www.zillow.com/homedetails/3301-NE-1st-Ave-APT-H2905-Miami-FL-33137/92450739_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare Can be rented out for $3150/month, based on nearby rental building starting at $3400/month for smaller sqft ( https://www.giomidtown.com/floor-plans/apartment?beds=one-bed ) $1500/month in costs Building well maintained and solid financials. Non flood-able zone. I consider this as a bet on the nearby area which is rapidly improving: School - they’re building this private school campus nearby https://www.miamitodaynews.com/2022/03/22/global-private-school-targets-ex-archbishop-curley-campus/ Train station coming https://wynwoodmiami.com/wynwood-train-station-gets-2-million-private-backing-as-part-of-county-rail-plan/ Brand new offices coming with law firms https://rebusinessonline.com/ll-oak-row-top-out-12-story-office-tower-at-wynwood-plaza-in-miami/ Luxury building coming nearby, 1-bed start at 800k Example The Standard: https://profilemiamire.com/miamirealestate/2023/10/26/rosso-development-standard-international-and-midtown-development-lock-down-45045-million-construction-loan-for-standard-residences-midtown-miami?format=amp
The current owner bought it for $277k at the lowest point in the past 5 years with < 3% interest rate -> that's a P+I of ~ $1,000/month + $550 HOA It doubled in price, so his equity is through the roof. If it could be rented for $3k, why wouldn't they do it and borrow against it if they need money. Selling this asset doesn't make any sense unless there is some major special assessment coming up. Think like the building is sinking or needs hurricane retrofit, something along those lines. Edit: if I had that sweet deal, making me ~$1000 profit/month and equity of $250k. I would put it in a trust and just chill on it
This guys sells low and buys high
People have all reasons for selling. Not always following your financial reasoning. Also if they’re happy they made a quick buck they can just cash out and not bother with tenant
School district too bad + its in Miami + no one in their right mind will pay 3k rent for a 1 bed condo in Miami. So Nope. Maybe worth listing on AirBNB but not gonna take that risk
Not sure if 1 bed condo folks care about schools, more like nightlife district.
It does rent out for 3k+ in Miami that’s not an assumption it’s a fact You can check this nearby rental building where 1-bed are smaller than the above, starts at 3.4k non negotiable https://www.giomidtown.com/floor-plans/apartment?beds=one-bed Schools are all shit in Miami except one or two, but they’re building this private school campus nearby https://www.miamitodaynews.com/2022/03/22/global-private-school-targets-ex-archbishop-curley-campus/
I live in Miami, this doesn’t seem like an exceptional deal. You should be able to get water views or a newer building for this price
Do you have examples? I could not find I looked at midtown and edgewater but didn’t see anything at that price with better product
You must not be looking very hard… multiple building around Margaret pace park are better
That’s crazy a condo doubled in 3 years. Probably a sign it’s hitting peak.
Blinder talks out of his ass, news at 5