Tag: miami luxury real estate

LATEST INTERVIEW OF OUR CEO AND FOUNDER, QUENTIN VIAC, FOR MIAMI AGENT MAGAZINE

Quentin Viac has fostered a team of real estate agents who are eager to learn and happy to serve. As the CEO and and founder of Viac Luxury Real Estate, which has offices in Florida and Michigan, Viac supports both teams and their respective clients, sharing the knowledge he’s acquired through years of training to ensure that every investor, buyer and seller within South Florida and Detroit is satisfied with the end result.

“In order to grow my business and push my agent to grow, I followed sales, real estate and personal development training and taught my team everything I could” he says. “I am starting to see the benefits now and even experienced real estate agents were able to have a real breakthrough”.

With a company comprised of new and experienced agents, Viac maintains a supportive environment where everything from rehab to property management is done in-house.
Viac is playing an active role in the expansion of his Detroit business, visiting the office every other week, investing time and money into the team’s success by onboarding the right employees, and finding the best houses.
“We have come a long way”, he says. “We started three houses, and now we have over 100 and are still growing. It was very challenging, but I never stopped believing in it”.
Viac’s Miami office is equal parts real estate agency and art gallery, showcasing pieces from a gallery in Milan. It was also the first real estate company to get a booth at the Miami Yatch Show, where the team demonstrated a virtual reality tour developed in conjunction with the architect of Missoni Baia.
Viac is a member of the Miami Association of Realtors and the French-American Chamber of Commerce of Florida. He supports the Jessica June Child Cancer Foundation and LightHouse for the Blind and Visually Impaired.

October 29, 2019
MEET OUR NEW AGENT LORI L. PREPSZENT

“I have come a long way from CT and now spent half of my life in Miami and working in the challenging yet for very rewarding real estate market assisting buyers and sellers and renters for the past 15 years. I’m hardworking, energetic, positive and I enjoy my current profession helping people make their dreams a reality and promote health and wellness, laughter, a bit of partying, dancing and future hot yoga teacher!”

Welcome to the team Lori!

VIAC Luxury Real Estate

November 2, 2018
Why Miami Real Estate investment
Miami Real Estate Investment

More and more people are turning to rental properties in Miami as a way to diversify their investments and generate steady cash flow in the future. And why not? There are serious benefits of investing in Miami real estate. First, however, it’s important to understand the key advantages of investing in properties in the first place.

Miami Real Estate Investment – Why Rental Properties?

There are several factors driving the trend in investing in rental properties and condos in Miami.
- Many people are not reaping the benefits they thought they would from Certificates of Deposit and other savings accounts.
- Despite we are not financial advisors low-interest rates have made people cautious of inflation in the future, pushing them away from the bond market. They turn to commodities like real estate which protect them from inflation.
- People are diversifying their investments.
- Low-interest rates and condo prices create interest in rental property investing.
- Miami Real Estate appreciation.
Now that you understand why so many people are turning to Miami real estate investments, you need to know whether a potential property is worth the investment.

When determining whether or not a home or condo for sale in Miami is worth investing in, keep in mind these two key formulas:

Miami Real Estate Investment – The Cap Rate

The first formula involves calculating the cap rate. If you bought the house in cash, this is the rate of return you would make.

What is the Cap Rate?

The cap rate, also known as capitalization rate, is net income divided by current market value.

Here’s an example:
- Cost of condo or home = $200,000
- You rent it out for $1,500/month
- Average monthly expenses = $500 You spend an average $500/month on expenses (taxes, repairs, maintenance, etc.)
- Net operating income = $1,000/month, or $12,000/year
- Cap rate = $12,000/$200,000 = .06 or 6 percent
Whether or not the 6 percent is worth the investment is up to you to decide. If you find a property in a Miami neighborhood with high-quality tenants, then it might be worth it. On the other hand, if the property is in a not-so-good neighborhood, then 6 percent may not be a great return on your investment.

Miami Real Estate Investment – The One Percent Rule

When evaluating a rental property in Miami, the general rule of thumb to go by is this: If the gross monthly rent equals at least one percent of the purchase price, you should look further into the property investment. If not, keep searching for better options.

Here’s an example:

If you purchase a condo for $200,000, it would need to rent for $2,000/month. If not, the one percent rule has not been met.

According to the one percent rule, the property should bring in gross revenue of 12 percent of the purchase price each year. After expenses, the net revenue should equal between 6 and 8 percent of purchase price.

In general, this is a good return on investment. However, it is important to take into consideration the neighborhood you are investing in. If the property is in a nicer neighborhood, there is likely a lower return; similarly, more questionable neighborhoods often have higher returns.

Don’t Forget This One Last Thing

Finally, no matter what percent you are gaining in ROI off of your Miami property investment means very little if the interest is not compounding. Well, what is compound interest?

How does compound interest work and what does it mean for property investment?

Compound interest is interest that is generated by your principal plus its interest.

For example, if you invest $100 in the stock market, at the end of the year it will have gained $10 in interest, to equal $110 total.

At the end of the second year, the interest has grown by another $11, for a total of $121.

In summary, the extra $1 the second year earned represents the interest that compounded on top of your interest. Each year, the interest will compound on top of the previous interest, which becomes very powerful after 10, 20, 30 years. In order to reap the same of compound interest on your Miami Real Estate investment, you should reinvest the all of the proceeds so that your returns will compound upon themselves.

SOURCE
June 19, 2017
$65M penthouse hits market in Miami Beach

The Apogee penthouse in South Beach

In addition to attracting swarms of interesting people and elaborate art installations on a yearly basis, Art Basel 2016 has enticed a $65 million listing: a two-story penthouse at the Apogee in South Beach.

A glass staircase is one of its most distinguishing features, outside of the spectacular ocean, bay, and city views of course. Spanning 8,271 square feet, it has five bedrooms, eight bathrooms, and a whopping 13,149-square-foot terrace.

The residence is Miami’s most expensive listing along with 46 Star Island, a 18,356-square-foot Mediterranean with 250 feet of bay frontage. Pulling in anything over $60 million, the price Ken Griffin paid for his Faena Penthouse, would make it a record sale for the county.

“This Apogee penthouse is the most superb property ever listed on Miami Beach in the city’s premier residential tower in the coveted South of Fifth neighborhood,” said Douglas Elliman Florida’s Executive Vice President Carlo Gambino. “With uninterrupted ocean views and commanding vistas of the Downtown Miami skyline, it is the perfect place to entertain, relax and take-in dazzling sunrises and sunsets with the convenience of being just a short stroll to the best of Miami Beach’s iconic restaurants and boutiques.”

If you don’t factor in the extensive outdoor space, it breaks down to $7,859 per square foot.

The residence is owned by former lawyer William Duker, who has a rather interesting criminal history, according to the Wall Street Journal

Mr. Duker owns the software company Rational Enterprise. He was one of the founders of Amici LLC, a provider of document-discovery services, which was acquired by Xerox in 2006 for $174 million. A former lawyer, he pleaded guilty to four felony counts in 1997 and served part of a 33-month sentence for falsely inflating legal bills to the federal government.

Even more fascinating is the fact Duker spends “about two months” a year in the unit.

His reason for selling:

He said he is selling because he’s planning to travel around the world in his new 230-foot yacht, Sybaris.

SOURCE

January 3, 2017
Condos are a Worthy Investment in Miami Beach

Situated on a barrier island and surrounded by Biscayne Bay to the east and the Atlantic Ocean to the west, Miami Beach is just a short distance from the city center but has its own vibe. Its proximity to beautiful beaches has made Miami Beach a prime location for condo complexes. Whether you are looking for Miami luxury real estate or a less opulent, more affordable condo to invest in, the Miami Beach area is a sound choice.

Some of the reasons that buying a condo in Miami Beach is a worthy investment include:

Variety of Condos at Different Price Points

The condo market in Miami Beach is very diverse, with units ranging in price from around $200,000 to several million dollars. The wide price range allows a variety of people to invest in Miami Beach condos, as there are many options at every price point. There is also a mix of older condo buildings and new construction condos; if you want to invest in a lower priced or mid-priced Miami Beach condo for sale, consider looking in the Mid-Beach areas. Several new luxury condo projects, like the Eighty Seven Park, are being developed in the Mid-Beach area, and the addition of these luxury buildings should help increase condo values in the surrounding area.

Shift to a Buyer’s Market

While the luxury condo market in Miami Beach and the surrounding areas is still thriving, the market is showing signs of a correction after the large price increases seen over the past few years. This is great news if you are looking for a condo for sale in Miami Beach that is priced under $1.5 million. With a larger inventory of Miami Beach condos for sale, buyers have more room for negotiations and finding great deals. As any savvy investor knows, buying when the prices are lower allows for the greatest return on investment. Working with an experienced real estate agent will help you discover the best condo deals in the Miami Beach area.

There is no reason to believe that the price correction for Miami Beach condos valued at less than $1.5 million is a sign that condo values in the area won’t begin rising in the future. Many people who have been investing in condos in Miami Beach and the surround areas have been from Latin America; at this time the currency of most Latin American countries is weak compared to the U.S. dollar, but currency values constantly fluctuate and this situation can change at any time. Now is a great time for an American to buy an investment condo in Miami Beach—don’t wait for the prices to trend upwards again.

Proximity to the Water

No matter where you are investing in real estate, beachfront, oceanfront, and ocean view properties tend to be highly desirable and almost always increase in value over time. Miami Beach is home to some of the most beautiful beaches in Miami; South Beach is very well known, but there is also North Beach, Haulover Beach Park, and Surfside Beach on the Atlantic side, as well as Oleta River State Park along Biscayne Bay.

Miami Beach covers less than 19 square miles of land, so there are many opportunities to invest in a condo that is in close proximity to one of the wide, sandy beaches located along the Atlantic side, or a unit that is situated on Biscayne Bay. An ideal investment is a condo that is located in a beachfront or oceanfront unit, but even being within walking distance to the water can be a huge bonus that can make your investment condo more valuable. Getting in touch with Viac Luxury Real Estate is the first step toward making your Dream Condo a reality.

November 24, 2016
Current State of Miami’s Real Estate Market

The Florida real estate market is constantly evolving, and it can be difficult for people without a real estate background to keep up with the changes. The past year has shown that the Miami housing market has softened, but real estate professionals in the area are confident that the Miami real estate bubble is not about to pop. Some of the factors affecting the current market include:

Foreign Buyers and Investors

Miami is a sophisticated international city, and people from around the world have been flocking to the area to invest in condos and single family homes for the past several years. Foreign buyers were particularly active in the Miami luxury real estate market; in 2015 real estate professionals said that over 50% of luxury buyers were foreign, while in 2016 that figure dropped to 33%.

This drop in foreign buyers can be explained by economics and the foreign exchange rate. Latin American investors played a big role in driving the Miami real estate market, especially luxury properties, but major countries such as Brazil, Argentina, Columbia, and Venezuela are currently in a recession and the exchange rate in those countries has decreased by 25-40% compared to the U.S. dollar.

Foreign buyers have not disappeared from the Miami real estate market, but their numbers are expected to be lower than normal until economic conditions improve in other countries. This has created new opportunities for local buyers and domestic out-of-town buyers.

Domestic Buyers

While the number of foreign buyers in the Miami area has declined this year due to economic conditions, there has been an uptick in the number of domestic buyers investing in Miami real estate. A Miami real estate market analysis shows that the number of local buyers has increased from 11% of total buyers in 2015 to 23% in 2016. American out-of-town buyers, particularly New Yorkers, have also risen in Miami from 16% in 2015 to 20% in 2016.

The shift in buyer demographics has slightly altered the real estate environment in Miami. When foreign buyers were dominating the market, many real estate transactions were cash deals as international investors purchased luxury condos as an investment or a vacation home. Foreign buyers focused more on building amenities, nightlife, dining and shopping when choosing where to buy.

As more local buyers are emerging in the Miami market, buyer interests are changing. Buyers are focused more on qualities such as quality school districts, commutes, and access to retail stores and activities since most local buyers plan to live in their new home year round.

Luxury properties, particularly condos, are still in demand with out-of-town domestic buyers. Miami’s thriving Financial District, Florida’s favorable tax laws, and the beautiful climate makes Miami a highly desirable place for domestic investors or people wanting to relocate.

Future Outlook

The Miami real estate market may have slowed over the past year compared to years past, but it is not expected to remain this way, and prominent Miami real estate professionals do not expect any type of market collapse. In fact, figures show that there could be a sharp upswing in Miami’s real estate market in about 18 months.

If you are interested in investing in Miami real estate, now is the perfect time to do so. Whether you would like to purchase a condo as an investment or vacation home, or are looking for a single family home, the favorable conditions for buyers are not expected to last long. Take advantage of the current inventory levels, prices, and interest rates now for the best values before the tide shifts back to a seller’s market.

November 22, 2016
Top Reasons to Invest in Miami

Miami has transformed from a sunny beach vacation destination into a cosmopolitan international city, and investors have noticed. The number of investors in Miami luxury real estate is on the rise, with a number of people from Manhattan and Latin America purchasing new luxury homes and condos. There are many reasons that Miami has become so popular with investors, such as:

High Quality of Miami Properties

Many new luxury properties, especially Miami condo projects, have been designed to appeal to the most discerning investors. New properties are built to the highest standards and feature upscale design and quality finishes. Condo properties offer every amenity that a person could want, from spas, fitness centers, and pools to roof top decks, lounges, concierge service, and even access to exclusive beach clubs.

Tax Benefits

One big draw for people who invest in Miami real estate is the tax laws in Florida. The state does not have capital gains taxes, estate taxes, or state income taxes, so the potential return on a luxury property is higher than in other states in the country. It is not uncommon for high-earning individuals to invest in Miami luxury properties and make it their main residence so they do not have to pay tens of thousands of dollars in state income taxes.

International Financial Hub

New York City is considered the financial capital of America, but Miami is now second. Many large companies, especially those tied to Latin America, have established headquarters in Miami, and a number of international banks now have large branches in Brickell, Miami’s thriving financial district. The financial growth in Miami is reassuring to investors, and many high earning individuals purchase luxury real estate in Miami when they relocate from other places.

Luxury at the Right Price

Miami has been named one of the top 10 most luxurious cities in the world; the only other city in North America on that list is New York City. Those seeking luxury may begin choosing Miami over NYC is the fact that the cost of living is currently much lower in Miami. While some luxury properties in Miami sell for a price of several million dollars, right now the cost per square foot of Miami properties is below the cost per square foot of similar luxury real estate in New York City. As more luxury properties and buildings are developed, investors are lining up to make purchases.

Art, Culture, and Entertainment

Miami has redefined itself into a sophisticated international metropolis. Art Miami and Art Basel- Miami Beach have grown into large annual events that garner a lot of attention. A number of quality museums can be found in Miami, including the Miami Museum of Science and the Perez Art Museum Miami.

The culinary scene in Miami has exploded, and the city is now home to some of the top-rated restaurants in the world. Some say that Miami can even compete with major cities such as New York, London, and Tokyo when it comes to culinary offerings. The number of luxury hotels and upscale night clubs in Miami has also grown exponentially, and Miami also has a Design District where people can shop for luxurious clothing and accessories from top designers.

Climate

Located between Biscayne Bay and the Atlantic Ocean, Miami has a tropical climate with year-round sun and comfortable temperatures. The beautiful weather, gorgeous views of the water, and access to great beaches is very appealing to luxury buyers. Miami has grown into a city that is able to fulfill the wants and needs of high-net-worth investors, and the climate is an added bonus.

November 17, 2016
Top 6 Reasons to Move to Miami

“I’m moving to Miami,” says everyone who has ever survived one blustering, bitter winter day. We hear it every year and still each winter, watch our news feeds burst with claims of abandoning the north for better days toward the equator. We laugh, sometimes in January, from our penthouses with cocktails in hand at the idea of our closest friends waddling in vertical sleeping bags up to an air-tight hallway that someone branded as a lobby. Snow falling at their feet as often as we run our fingers through our hair in the low-seventies breeze.

Besides the soul-sponging indulgence of getting a laugh at my tundra-bound friends, if someone asked me, “why move to Miami?”, I could sum up the rationale in six points.

The Real Estate

Miami luxury real estate is certainly something over which to gush. It is not attainable for everyone, and frankly, that is part of its appeal. But luxury Miami is not solely reserved for the highest price tags assigned to the best corners of grid-locked streets. Luxury real estate here is the actual luxury. Architecture ranges from historical to modern and glows under an artist’s touch. Furniture isn’t too nice to sit on; it’s so exquisite and lush that you want to stay cooped up or sprawled out on it forever. Windows stretch for days and eliminate the need for fine art (hypothetically, hypothetically…) with their insane blue views of the sky and the sea. Boat lined harbors and wide-brimmed hats speckle the scene with just enough movement to remind you of the wind and chatter whisking about the day. Miami views are not tantalizing. They are approachable. The sun outside casts warm kisses along the shore and invites you outside to shop or dine any time of the day. Lux living in Miami is actually where life is as good as it gets.

Fashion and Shopping

On more than one hand, I count the times I shopped until I dropped. Literally, made it home only to plop on my bed, bags still around my wrist. I suppose the copious cosseting of a closet could be one reason to not migrate south, but if you can control your addiction, you’ll thrive in this fashion capital. Bold designers, boutique traders and luxury artists dabble in new creations daily. Streets are quite literally lined with the world’s most famous designers and local artists that never bother to stretch farther than home.

Nightlife

If you have not seen photos of all-aged livelihoods boasting hand crafted cocktails amidst postcard views with a famous DJ in the background, you need to move here yesterday because you are living under a rock. Miami nightlife is a top destination and consequently, never sees a night with festivities raging until the sun is ready to rise.

Dining

The Caribbean influence is one of the best treats in Miami culture. Tasty Cuban restaurants dazzle taste buds on the reg and alter the course of culinary interest for life. Luxury dining is everywhere, sometimes hidden in the walls of streets; other times within Gianni Versace’s old mansion. Celebrities trail the migration of the world’s best chefs to the city, and you can believe the word meal will be removed from your vocabulary. We are talking a kitchen craft and hospitable retreat as many times a day as you desire.

Entertainment

Oh, the host we are! From the most prestigious food and wine festivals to performing arts and world-renown installations and sculptures in everyday use, there is never a day that goes shy of the bustling, artistic offerings of the city’s entertainers. Don’t feel like heading out on the town tonight? No worries, just watch the light show from your wall-sized window amidst the city’s skyline.

So are you ready to make the move before the umpteenth episode of bitterness in your life? When you are, get in touch with VIAC for a top-shelf luxury real estate agent. We look forward to leading you into the high life Miami.

October 18, 2016
Tips for Finding Your Dream Home

You’re ready to plant your roots and invest in a piece of luxury real estate in Miami where you can raise a family or spend the upcoming years of your life doing as you please. Luxury real estate can come in many forms to different people, some people are looking for a gorgeous home right on the water or on a golf course or even in the middle of a large piece of property to ensure the utmost privacy. Whatever your situation and interests may be, for those with the financial means to live in luxury, there are a few tips to help you find the home of your dreams.

Know Your Priorities

Before hiring an agent or even looking at listings, it’s a good idea to list out a some of the top priorities you are looking for in your luxury home. A few things that you may want to consider looking for are a great location for convenience to town or seclusion for privacy, great school district for the children, great views/waterfront, yard space, gated community or security system, home gym/theaters, or studios. Write down the main important features you are looking for in your new luxury home, and this will help the agent you eventually start working with tremendously by taking some of the guesswork out on their part.

The Importance of a Local Agent with Expertise

It’s crucial to develop a good relationship with a luxury-buying agent because the high-end home process is slightly different than the rest of the real estate industry. The high-end homes tend to be a bit more restricted and limited concerning open houses and necessary appointments that need to be made. A local agent with experience in luxury homes will know that the process is different. Often luxury homes, especially of higher profile individuals, will not be listed to protect the seller’s privacy, and this is another reason having an agent that specializes in the local luxury market is very important.

Don’t Judge a Home by the First Few Pictures

More often than not, large homes are do not show well in photographs. It’s just how it is. If the house sounds good but you are turned off to how the pictures look, it’s recommended that you take the time to investigate a little deeper before turning the page. Search Google Earth to see what’s around the home or even go for a drive to see the home for yourself.

Miami and the surrounding neighborhoods are filled with luxury homes and estates, covering just about every imaginable price range. These tips are good to keep in mind when you finally decide on making that next big purchase of your life. For more information on Miami luxury real estate visit Viac Luxury Real Estate in Miami Beach.

August 23, 2016