Location, rental rules, furnished or not, deposit schedule and building costs: what to be clear on before falling for a rendering.
Most of the people I work with buy from outside the United States and close remotely. They already know they want to invest in Miami; what they need is to choose well. These are the five questions I ask before recommending any project.
1. What is the property for?
Long-term rental, short-term rental, a few weeks of personal use a year, or family wealth. Each goal points to different neighborhoods and buildings.
2. What does the building allow for rentals?
Not every condo allows short-term rentals, and those that do have their own rules. NoBe Parc allows them in its official fact sheet; other buildings have minimum stays or restrictions. Confirm it in writing before reserving.
3. Is it furnished and managed?
For someone who lives far away, a building delivered furnished and with rental operations simplifies a lot. Domus Brickell Center, for example, includes 24-hour reception, hotel-grade housekeeping and an owner rental portal.
4. Does the deposit schedule fit your capital?
Check how much you pay before closing and in how many steps. I explain it with examples in the article on deposit schedules.
5. What does it cost to hold?
HOA dues, insurance, taxes and possible condo special assessments. These numbers change the real return, so they belong in the analysis from the start.
With those five answers, the project list narrows itself and the decision stops being a pretty rendering and becomes a plan.
