Miami Real Estate is hot, the market is a gold mine. Like finding an oil deposit, it will take a little time to get profitable but you know it will because of demand.

When I arrived in Miami I fully expected for everyone to have their heads down kicking rocks, feeling beaten and withered from the real estate bubble bursting. HA!

They cranes are still spinning putting up towers, the Ferrari population has not decreased and people were happy. Why not with the dollar so low, companies and people from all over the world are moving to Miami, great condos in great buildings are selling at very low prices. The number of foreclosures are amazing even by Michigan Standards but they are hard to find in prime areas, but the deals are everywhere. Tom Grimshaw showed me around for a couple of days giving me the scoop in Coral Gables, Coconut Grove, Key Biscane and the Beaches the deals are amazing.

This town will scream back sooner than later, the state of Florida needs to address the Tax in insurance issues to make second homes and investment more viable but they will have too to pull other parts of the state out of caos and Miami will benefit the most. Condos in South Beach, next to the new Ritz Carlton for under $300,000? Why not, buy it, use it, rent it occasionally and when things break out; reap the rewards.

Remember what happened in Michigan with property tax reform (proposal A) property values went up 40% in less than four years. Same will happen in Florida with Insurance and NonHomestead tax reform.

I know that this is the "I wish I would have" market. The fundamentals for long term investors are too good, use and appreciation great combination.