Yesterday I went to the Opera Tower in Downtown Miami because they are re-launching the project. Now that the market is picking up again, the developer decided to sell his units with a great investment program.
This is how it goes. You buy the unit of your choice but then the developer signs a 3 years lease agreement with you. He also will take care of paying the maintenance fees and any repairs that may arise. On top he is guaranteeing a 6% return rate on your investment. The only thing you have to worry about is paying your property taxes. This means a 4%-4.5% net return rate on any unit at the Opera condo. Read the rest of this entry »