Exploring multifamily investment in Miami-Dade (Coconut Grove)

[Igor Fedulov]

Good morning everyone. I'm exploring a potential new market for my next investment. I work exclusively in Chicago, however over the past 7-8 years have been spending time in Miami/Ft. Lauderdale one to two months at a time and planning on moving here in about 4 years. Would love to start conversations and assembling a team that can help me with acquisition and management a multifamily property in south Florida.

[Andrew Bonner]

@Jason Brown Cap rates are tight down here. With the up-zoning of the US-1 corridor there have been a large amount of new development project that, although increasing supply, has increased comps for other multi-family in the area. The older product is smaller but better located for walkability into the Grove. Rates around us are mid to low 4s