In 2008, Miami was ranked as "America's Cleanest City" according to Forbes Magazine.First and foremost thing in miami has good location for Investing and it might be one of the good reasons behind the increase in the value.If you are looking for buying property in miami.Firstly Confirm that the property you are purchasing has no Foreclosure Loans on it.Otherwise, it is you who have to finally bear the brunt of everything.Finally,you need to know about your credit.You should be having a strong credit in case you want to buy the property in a posh area.Now,when you are done with everything,it is quite obvious that you become a property owner in miami.

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Make sure the neighborhood is what you are looking for. If you can go to the neighborhood at different times of the day and night to get a feel for the area. Local neighborhood information is important when investing in a new area.

I have to share your view.

[quote=DaveS]Make sure the neighborhood is what you are looking for. If you can go to the neighborhood at different times of the day and night to get a feel for the area. Local neighborhood information is important when investing in a new area. [/quote]

Hi Natile~

Miami should be a great place to buy an investment rental.

Your best strategy in my opinion is to find a seasoned investor's agent to guide you through your transaction by providing you with research and statistics, so you are making an educated decision!

Focus on one thing or you will never do anything. If it is Miami~ find out about Miami. You could spend the next five years taking advice from people all over the country and never do anything.

Also, As Jim said, the Florida market, like Arizona was hard hit and there will be plenty of renters out there wanting the same great amenities they had in their home that went to foreclosure!

Best regards,

Just make sure you get a discount since Florida is one of the top 5 foreclosure states. Over the longterm, properties by the water are always in demand even if the market sucks there now. I'd say go for it.

There are for sure great deals to be had in Miami and Matthew is right its hard to go wrong with beach front property unless its in an undeveloped 3rd world country:)