Posts by Master Account

5 steps to become a starship luxury real estate agent

In this blog, we’ll tell you how to show your clients you are not just a real estate agent, but an expert market analyst. You understand real estate cycles and economics, you know where is everything moving to. You can take care of your client’s financial well-being. In the luxury real estate market you need all of that, you need to show some skills. This guide is your key to achieve better real estate clients.

5 basic steps to become a starship luxury real estate agent

  • Don’t be stuck and get out there. Exchange by attending to different events related to your target. Study the market, taking good care of trends and patterns. If you don’t have time to do everything, hire an assistant. If you don’t have money enough to pay an assistant, get one anyway, on a commission basis. Warning! Don’t you ever run open houses. In the luxury market this is not considered as classy.
  • Time managing is a fundamental thing. First, you cannot leave emails unread. Then check how’s every listing performing. After that, focus only on the tasks that you can consider as monetizable. The rest of them, leave them to your assistant. Delegate the operative and repetitive stuff. Make the most of your best skills. Never remain all day behind your computer.
  • Get your own website. It will be an essential part of your business. Your possible clients can access frequently asked questions there, verify your knowledge and experience, and get to see referrals from other buyers/sellers. It will be a good tool when it’s time to build your reputation in the field.
  • Get on the phone with information. You can’t call someone without having at least a minimum knowledge about them or about their needs. Nowadays everyone is receiving tons of phone calls and messages, so try to make it memorable. Build trust for a lasting relationship, get personal with your clients.
  • Be collaborative with other realtors. Competition is a thing from the last century. Work in teams, gaining assets and knowledge about the market. Co-listing or co-marketing is better than never selling anything.

After checking all the previous basic steps, go further. If you are focused on the luxury real estate market, then we are talking about substantial investments, homes or commercial real estate worth millions of dollars. In this case, sellers want things to be done in the right and exact way they are expecting. Read below.

3 keys to achieving your goals in the luxury market

  • Price the property correctly. Never use a price per square foot. Look out at comparable sold properties to avoid pricing wrongly.
  • Get a psychological profile of the target buyer. It will be a high-end clientele, so your work will not be the same as other previous times.
  • Do your marketing with luxury media. Photography and video should be upclass, providing video tours and attractive pictures of the property. In this case a professional photo shooter is a must.

Working with lenders

Networking with private lenders will allow you the opportunity to access different markets you couldn’t just by yourself. For instance, a foreign buyer that is not capable of access a regular bank mortgage, could buy your luxury property if you offer them a private lender solution. Also, private lenders could also better know your possible clients and help you marketing your luxury properties working side by side.

Don’t forget in the end, the final key to getting volume in the luxury real estate market, is offering value to your clients. If you do a great targeting, you get to know who your clients are and what it will possibly provide them value. Luxury realtors spend a lot of time living as their clients do. Work on your image reading what they read, attending the events your clients attend, getting in the right circles, learning the specific language of your possible buyers, educating yourself. That will be your main advantage when you go out in the luxury market.

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The best neighborhoods to invest in Miami

best neighborhoods to invest in Miami

Miami continues to be a paradise for foreign investors. Being used to their countries, where economics and politics paint a landscape that is not very safe, Brazilians, Venezuelans, Mexicans, Colombians and Argentines are just some of those who decide to trust in long-term investing in construction or properties in Miami.


On the other hand, the advantages of financial leverage often make it not only more profitable to invest in a property acquisition rather than paying rent, but also end up making the mortgage monthly payment cheaper than monthly rent. Those are all the reasons why regular tourists in Miami decide to invest their capital in the city.


What drives the choice of a real estate investor when picking a certain area in Miami? Well, there are several variables to take into account. In the first place, life-quality, then the strategic location and the valuation of the properties. But let’s see some of the most chosen and best neighborhoods to invest in Miami.


The best neighborhoods to invest in Miami with a mortgage loan


The best investment areas in Miami are divided according to the objective that the investor has. On one side, we have neighborhoods that are better for housing, then there are other ones better for businesses or offices. Let’s dig a little deeper about both cases.


  • Best neighborhoods to invest in Miami for housing


  • Surfside is ideal for those looking for a quiet, peaceful sea view. It is a residential area, ideal for taking daily walks.


  • Coconut Grove is known for its large amount of vegetation. It is located near Coral Gables, south of Miami, and also provides peace for its neighbors.


  • Brickell, the former financial center of Miami, is the perfect place for those looking for an exclusive area, near the river and downtown. Quality and distinction for those who want to stand out or to later take advantage of a higher income if they decide to rent to someone.


  • Aventura is an urban area with great family and cultural life, which has been developing firmly since 1995. It is quiet and offers many commercial and gastronomic options.


  • In South Beach we can find the famous Ocean Drive. Iconic, this area houses the best hotels, restaurants, cafes and delicacies, as well as artistic activities. Previously known as the American Riviera, South Beach stands out for its elegance.


  • Bay Harbor / North Village is an area composed of three islands in Miami Dade: North Bay Island, Harbor Island and Treasure Island. The triad is connected by the Kennedy Bridge to Miami and Miami Beach. It offers some amazing views of Biscayne Bay. Bay Village is also renowned for the nightlife. It is very interesting for investors because it is also located in a strategic location close to Downtown and Miami Beach.


  • Hollywood Beach has an atmosphere that could remind you of the 1930s. It is one of the few areas of Miami where we cannot hear everyone talking in Spanish, with most of its tourists being European. The landscape shows as small houses and buildings.


  • Fisher Island is the place where luxury reaches the impossible. Mansions of politics, artists and celebrities are blessed with private beaches, golf camps, spas, etc. It is an island surrounded by the Atlantic Ocean and by South Miami Beach in its northern part.


  • The best neighborhoods to invest in Miami for offices


  • Coral Gables and West Palm Beach have seen an appetite for Class A offices. A lot of companies are looking for full floors in both areas.


  • Fort Lauderdale. Here, new buildings designed with open floor plans, big amenity spaces and wider windows will attract business landing in Miami.


  • Brickell continues to be an ideal destination to invest in offices as it has traditionally always been. As the opposite we find an emerging area, Wynwood, with a large number of offices where we can find already installed coworking spaces. A domino effect is expected soon. Coconut Grove is also joining as a destination for these kinds of companies.


Finally, it is good to take into account the differences between an average monthly payment of a mortgage loan and an average monthly rent. There are neighborhoods in Miami where the mortgage payments are cheaper than rents, and when looking at different areas of investment in the city, those neighborhoods are usually chosen over others for that reason.

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Mortgage loans for foreign nationals buying in Miami.

mortgage loans for foreign nationals

Even with a fluctuating economy and always in disadvantage with the US currency, Latin Americans continue to invest in properties in Miami. Among the foreigners who buy in the city, we can say that there are 15% of Argentines, 11% of Venezuelans, 9% of Colombians and 8% of Brazilians. Mexicans and Peruvians complete the landscape. The real estate market in Miami is promising and, for that reason, it attracts investors from all over the world and especially from Latin America. Mortgage loans for foreign nationals are everywhere.


How and why do foreigners invest in Miami?


Investing an average of US $340,000 on a property, foreigners buy in Miami because they know that the rentability of a transaction there ends up being between 3% and 6%, according to the Miami Association of Realtors. In most cases, investments are made to protect people’s capital. Given the fluctuating economic situation in Latin American countries, even with some of them going through a political crisis, foreigners opt for this safer option: investing in Miami feels safer than in their own countries. With an initial percentage of the final value plus a mortgage loan, they can access a property that will allow them to safeguard the original investment, achieve some savings and bet on a better future.


The types of investments foreigners make in properties in Miami vary according to their purpose. 80% of foreigners invest in luxury residential assets. The rest is distributed among homes for rent, offices, or franchises. Being Miami a multicultural city, with amazing beaches, the best nightlife and ultimately becoming the hub of many technology companies and commercial ventures, the range of investment options is vast.


How to invest in Miami being a foreigner?


Generally, many foreigners invest cash. But if liquidity does not help and they need to apply for mortgage loans for foreign nationals, they should take into account that financial institutions analyze the following variables of credits for foreigners to define interest and terms:


  • Nationality
  • Type of property being purchased
  • Source of income
  • Source of liquidity


The mortgage loans rates for foreigners are usually low, ranging between 4.5% and 5% The minimum requirements are not too many. Let’s take a look below:


  • Visa, based on their nationality (at least a valid tourist visa), and a copy of the passport.
  • In the case of condominiums or townhouses, it is usually requested between 30% and 35% of the value of the property as initial payment.
  • Proof of income and liquidity (for example movements in bank accounts, reference letters, salary receipts, etc.)


Which option is more convenient when applying for mortgage loans for foreign nationals?


When applying for mortgage loans for foreign nationals there are two main options:

  • The first one is related to bank mortgage loans, that with lower interest rates are likely to be obtained. The disadvantage in this case is that banks offer less flexibility in customizing credits according to the investor’s conditions or goals.
  • On the other hand, there are mortgage loans for foreigners from private investors. This second option is very common, it offers a range of options for each special need. These are operations that are mostly closed in less than 7 days, without bureaucracy in between. This type of loans is very useful since the real estate market in Miami usually moves very fast, the investor must act quickly in order to not losing the opportunity.


Miami, a magnet for foreigners


Being Miami totally multicultural, we can say it’s a cosmopolitan city, and this can be noticed in almost every aspect: art, gastronomy, music, and the events that take place every day in the place. That is one of the reasons why foreigners are attracted to Miami. Besides, there are regular tourists who are tired of paying high rents in the area for each holiday or vacation. Then, they decide to invest in new constructions or already built properties thinking in a long term, dreaming with ideal vacations. Miami will continue to be a first chosen destination by foreigners who seek a better life-quality or a safer place for their business investments.


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How does bridge lending work for foreign investors? What they are and its advantages.

When an investor is looking up for business opportunities in Miami real estate, the range of possibilities is vast. But sometimes, if we don’t have enough liquidity, we could end up with our hands tied up. This is the moment when bridge lending comes to be the star in this game.


Bridge lending is related to short-term loans, that aim to solve a special kind of needs that traditional bank mortgages couldn’t. Every now and then, a delay of one month could imply the loss of a great opportunity. This average mortgage bureaucracy can be skipped if we choose a bridge loan. Easily and quickly, the real estate investor can access the amount in need, and this will allow him or her to grab the opportunity, avoiding the loss of time due to paperwork or terms.


The lack of funds doesn’t necessarily imply that we have to let go of great business opportunities, or the house you’ve always dreamt. Maybe there’s simply a gap, a period in which you need to solve some matters in order to gain liquidity. In that instant, an opportunity shows up. ¿What would you do? ¿Would you let it pass? Bridge loans can save this gap for you to jump, to bridge that gap from one point to another one. They can afford your investments for a short-term period when you don’t have money enough in your account, or if you’re waiting to close another delayed transaction. If this is not enough, this kind of mortgages offers a lot of advantages among other kinds of financing. Following, let’s dig in deeper on each of them.


The 8 most important advantages of bridge lending


Bridge loans are not like any kind of known mortgage, they offer more flexibility and customization according to the investor’s needs and taking into account the transaction about to perform.


  • When an investor can’t access a mortgage because of times, it’s common to immediately think in other financing options. Bridge loans rates are a little higher than mortgage rates but, at the same time, lower than personal loans rates, or rates of other kinds of loans.


  • The investors can choose between options with variable or fixed rates. According to the length of the bridge loan, if the cancellation is in the short-term, it will be better a variable rate. If it’s a long-term bridge-loan, we suggest choosing fixed rates.


  • A bridge-loan lender, knows everything related to business investments and the real estate market. For this reason, the loan can be personalized and approved faster, according to the investors business strategic plans. For example, the investor could cancel the loan with another property, with other businesses incomes, or refinancing the loan with a traditional mortgage.


  • Bridge loans can be canceled at any point, anticipating its maturity, without any fee or penalty.


  • It can be accorded for bridge loans, the possibility of making monthly interest payments (small payments), and cancel the initial amount when the loan expires.


  • Bridge loans can be backed up by other assets, instead of being tied to the credit score or job incomes.


  • This kind of mortgage loan is an excellent choice for foreign investors, when there’s no possible way of ascertaining funds or applying to local banks in Miami.


  • The bridge loans are usually provided for periods from one to three years, with a possibility of renewal. It’s an excellent option if the investors don’t have exact dates of other related businesses in motion.


Bridge lending offers the last advantages we’ve mentioned, and some other ones. If you wish to calculate different possibilities you can try our loan calculator. If you prefer, you can also contact our agents to know different financing options, by clicking here.


Bridge loans are the most convenient loans for foreign investors in Miami real estate. The customization of terms, rates and cancellation, are the best option when it’s time to request a loan in the Florida area.

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