Miami

I just spent a couple days in Florida, specifically the corridor between Ft. Lauderdale and Miami and in downtown Miami, looking at possible investment properties. While there was a ton of product--I mean empty high rise condo buildings--and units available through foreclosures and short sales, the numbers still didn't work to get a good ROI. At this point, I'd rather invest in more property in Philadelphia. Like everywhere else, prices have softened. However, they need to still be much further reduced in order to wipe out the thousands of units that are on the market.


One realtor who I spent some time with down there is Lucas Lechuga. He has a great blog that is worth checking out, http://www.miamicondoinvestments.com/. He details exactly what is going on in many of Miami's condo buildings. Very informative for anyone interested in buying down there.