South Florida Multifamily Nonsense

[Javier G.]

I was monitoring for few months Multifamilies in South Florida. I understand we're in a hot market and speculation is driving prices out of its fundamental behavior but, I was wondering if my analysis is lacking some type of piece or my math is from another planet. I see every day creepy Duplexes with $900/side rents with asking prices of 400K! Basically, 200K/door. Remarks at the bottom say "Low ball offers will be ignored!! Did I miss something? I will appreciate your comments.

[Rick Pozos]

It is called, "There is a sucker born every minute"

If enough people see the listing, someone will want that property. Either they need to be in the area, think it will be worth even more in the future, or whatever. Or maybe someone from New York will think that 400k is cheap because apartments back home are $1mil.

It is stupid, but for some people who have no morals, it works. It is surprising that people think the party will go on forever.