All Forum Posts by: Eli Weiss

@Percy Matsunaga

Prices are still high to cash flow on every MLS deal I've seen on Zillow. Many times the mortgage+property tax+Insurance+HOA will come in right at the monthly rent value or just below, leaving very little to no room for vacancy and repairs. Granted repairs should be less in condos given HOA covers outside your walls. Id be extra careful to understand cap ex spends with HOA especially in older condos that may need new painting or work done to balcony's, etc.

I am not sure what the vacancy rate is in Aventura but people (including myself) love living in condos down here. Its such a nice area. Clean, safe and I can walk to everything I need / want.

To your point though, if its been sitting on the market for 200 plus days you may get them to take a low offer to make your numbers work. My concern would be not having enough profit for the next few years if values continuing dropping. From what I have seen rents have been stagnant though and I have not see a drop or increase past couple years. Therefore if rents don’t decrease you may not be overly concerned if values dropped for a year or two more.

Interesting discussion!

@Eli Weiss

Ive seen a steady decline in Aventura condo prices over the past two years. Im a newbie getting started and I have check zillow religiously for Aventura for the past two years. You are asking the right question as Condo prices are volatile down here.