My first home Miami

[Taneisheo Ferguson]

Hello folks

I have a big decision to make.  I'm looking to buy my first property. Currently I live at home with my parents in Coral Springs, FL and my plan was to save up and look for a duplex in the Miami area. I work in Miami so my commute time is almost an hr one way. I have an opportunity to purchase a home for 10k 3/2 decent condition (what I've seen from pics) in north Miami beach (not to be confused with north beach in the city of Miami Beach). My commute time will be roughly 30+ from there. I wanted to move closer to the city because I figured long term it would yield a better return and I hate commuting in our traffic. North Miami beach is not a nice area but it isn't a ghetto but it isn't near anything. Any advice? 

[Jose R.]

Taneishio - I think NMB is a good bet. Every city is going to have good areas and not so good areas.  NMB is no different.  I have lived in NMB for 20 years and went to high school there so I'm very familiar with the area. I even purchased my first investment property there and the property has been cash flowing really well.  The fourplex I purchased back in 2010 for $139k is now worth $375k. In the future, when you move on to your next property you will have no problem renting that house.

NMB is directly in the middle of Ft. Lauderdale and Miami, close to Aventura Mall and beach is 15 minutes away. 

Do your homework and get to know the neighborhood the house is in, but I think you may have found a diamond in the rough especially for that price.

Good luck.