CRED Buyer

Miami Condo Vultures: A Fool's Game

We are a company that purchases commercial real estate debt and have looked at quite a few deals in Florida including Miami, where we were looking to purchase an entire project that was not too fractionalized (more than 30% sold as condos), I basically agree with all of teh comments in the article, but he also missed a couple of otehr costs including property taxes. Of the deals we have looked at in Miami without fail none have made sense as a reversion to rental. Miami still has a way too fall. Other areas of florida however . .