Warning: These 4 Mistakes Will Destroy Your Brickell Real Estate Investment!
June 20, 2017
Investing in Brickell real estate can be exciting, profitable and fun, and can be a great way to earn a living or just make extra money on the side. Investing in Brickell is a smart move because the demand to live in this booming financial district is always high and properties here sell quickly. However, if you’re not careful, you could run into some major obstacles that will cause you a lot of stress and potentially cost a lot of money. Here are 4 mistakes that could ruin your Brickell real estate investment
Hiring Your Friends
It may be tempting to save a little bit of money by hiring a friend to be your realtor/lawyer/contractor/advisor, but more often than not it just makes things weird. Don’t mix your business and your relationships.
Ignoring Title Issues
If the home you’re trying to buy has issues with the title, move on. If you’re new to Brickell real estate investing, move on FAST. Dealing with titles and the laws that surround them can be costly and time consuming.
Not Sticking To Your Budget
If you’re considering a condo in Brickell, you’re already setting yourself up for an upscale lifestyle of luxury. Be realistic about your budget and be smart about your finances. Don’t feel pressured to buy a penthouse or more expensive unit, and instead find a luxury unit that meets your needs and won’t have you searching couch cushions for grocery money after the mortgage/rent payment is made.
Buying Based On Emotions
Buying a new home is exciting, especially if it overlooks the water and is one of Miami’s coolest neighborhoods. But don’t make any quick decisions because you’ve fallen head over heels for a particular property. Walk away, talk about it, sleep on it, and make an informed decision, not an emotional one. Remember, there’s plenty of incredible Brickell real estate to choose from.
Whether you’re thinking about buying property in Brickell to enjoy for yourself or as an investment property, be careful not to make these four common mistakes that could cause you long-term problems. A professional real estate agent, some patience, and some thorough research will make buying investment property in Brickell successful and profitable.
Miami Association of Realtors® is not responsible for the accuracy of the information listed above. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program and the South East Florida Regional MLS and is provided here for consumers’ personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real Estate listings held by brokerage firms other than the office owning this website are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Data provided is deemed reliable but not guaranteed.
This website is intended for potential buyers, sellers, or renters and it has no affiliation with the home owners association at The Plaza on Brickell.