South Beach Vacation + Bargain Condos = Miami Condo Investments Tour
March 3, 2009 by Lucas Lechuga
I'm proposing to hold a two-day tour of Miami and South Beach condos in June of this year. The tour would focus on the best condo deals in Brickell, Brickell Key, Downtown Miami, the Arts District of Miami and South Beach. The objective would be to educate nonlocal buyers, who may not be familiar with the various neighborhoods and condo developments, but may have an interest in buying here at some point in the future. It's also an opportunity for local buyers to take a first-hand glimpse into the best condo investment deals in Miami. Weather-wise, June may not be the best time of the year to visit South Florida, but I expect the deals at that time to be even better than they are now.
The condo tour would be held on a Friday and Saturday, in which time we would visit 10 buildings and about 30 condo units. The tour package would include a 3-night stay at the Loews Hotel, a 4-star/4-diamond oceanfront hotel in South Beach; 3 breakfasts; 2 lunches; and the 2-day chartered bus tour. The cost would be $900 for one person or $1,500 for 2 people staying in one room. The 2-day chartered bus tour would also be open to local buyers who do not require hotel accommodations at a rate of $300 per person. To those who close on a condo that was placed under contract within 3 months of the tour, I would credit half the cost of the condo tour package at closing for those requiring hotel accommodations and the full cost to those paying the $300 rate.
I'd love to get your feedback about this idea, and I'm open to suggestions regarding the buildings that will be included in the tour. Please add your thoughts in the comments section and use the second poll below to vote on the buildings that you'd like to see on the tour (you may select multiple buildings when voting). I'm hoping to get around 20-25 interested parties in order to set this plan into motion.
[poll id="7"] [poll id="5"]
A fabulous idea as by the time June rolls around The Great Depression Two will be in full swing.
And the sheep keep coming.
The Smart Money doesn’t ride the bus.
Wild Bill still says Miami Condos are not investments. They are declining assets.
Can I finance the $900? I was thinking maybe a no doc loan. Cash back at closing maybe? Can you add a Duck Tour? http://www.ducktoursmiami.com/pages/the_show.htm
Wild Bill is going to have his own tour. Around the county clerks office. Going to research all the liens and foreclosures on these buildings.
Hi Lucas, I would like to join you on the condo tour. We plan to buy a condo, this year. Let me know if you need a bus for the tour. We own tw0 new 36-passenger vehicles.
I would but for that money I am planning on buying a two two at the Icon once Jeorge files banctruptcy
Ace and Wild Bill, Don’t you guys ever know when to shut up?
Remember, you are only guests on this blog. So behave like a good guest. Lucas is your host and he is giving you a platform to air your views. By disparaging your hosts business proposal, which makes a great sense for non Miami buyers, you are only projecting how ill mannered you guys are.
You should be ashamed of yourselves.
Even though I am not in the market for a condo, I would absolutely love the idea of taking this tour with Lucas. I would have got the first hand opportunity to interact with the man himself and see some buildings I have not yet visited. But unfortunately, Jun-Jul-Aug, I am held up in NY. Nevertheless I love Lowes Hotel, my favorite location after Tides/Victor. So a 3 night stay with breakfast and lunch for $900/pp and $1500/couple is not a bad deal at all with or without the tour.
In 100% buyer’s market…I am not sure why someone would agree to spend $300 so a real estate agent can show him condos. Lucas…you should be paying prospective cash buyers, not the other way around !
Business slow?
Mr. Lechuga,
I think it’s somewhat of a nice thought of you to show some of these building.
You’ve told us what the $900. is for but the $300. includes just the showings and the bus ride?
Well regardless I hope you’re successful in your proposal.
Mr. Lechuga,
I think it’s somewhat of a nice thought of you to show some of these buildings.
You’ve told us what the $900. is for but the $300. includes just the showings and the bus ride?
Well regardless I hope you’re successful in your proposal.
AJ,
I feel slighted that you asked only The Ace and Wild Bill to shut up.
Muir, member of the Smart Money.
Lucas,
I’d tag along in my car and would be very amicable to contribute a fair amount for lunch, say $50.
But I also, as a member of the Smart Money, do not ride the bus.
You were a bit late to catch up. In any case if it makes you feel better, oh shuddup.
I can offer a few whippings too if you like.
Kevin,
I thought of it too. Then I realized that for a 2 day bus trip you got to pay for the bus, driver, fuel, parking etc. There are 2 free lunches in the package during the 2 day bus rides. Even though Lucas did not specify, I believe the lunch will be for everyone during the lunch break and not just for those taking the hotel option. So $150/day for a expert guided tour of Miami condos with Lunch is not a bad deal. In any case, this is a good deal for out of towners with limited knowledge of Miami condos. May not be so attractive to a local.
AJ,
thx
condo swindlers said: “I would but for that money I am planning on buying a two two at the Icon once Jeorge files banctruptcy”
ROFLMAO – You made my day!
“Smart Money” =”No Money”.
I think the tour is a good idea. The $300 charge is also a good idea to keep the rif-raf out. Can you imagine how many “Smart Money” guys you would have on the bus if the tour was free? If you are even somewhat interested in buying a condo then the $300 could be a wise investment.
most obliged!
“The $300 charge is also a good idea to keep the rif-raf out. Can you imagine how many “Smart Money” guys you would have on the bus if the tour was free?”
That was outrageously hilarious – “Real Money” speaking.
Hi Lucas, It is a great idea. I would add some sort of a seminar though when after viewing condos every participant will be presented with some sort of materials and financial analysis of the project and etc. May be I’ll call you and advise you how to organize it professionally. Why do I dare even to give my advice? For several years I conducted business consulting seminars for overseas executives as well as some real estate forums in different US cities.
I would rent a conference room in the hotel and give an introduction and etc. Too many details to mention here. If that goes successfuly you will be surprised how many people would want to come and take part in it. Alot of people have some sort of a desire to participate in buying discounted real estate but are afraid due to the lack of knowledge how to do the analysis of buying a property. I would invite a title co and an experienced mortgage specialist who would be able to give mortgage options and etc.
If you do it on a professional level when all aspects of buying real estate are included then your charge of $300 or $1,500 is justified.
So we pay YOU so that you can sell us a condo and make commission? Two days on a bus doesn’t cost $300. It’s $60 if you fill the bus up.
AJ,
You shouldn’t throw too many bricks when you yourself live in a condo glass house.
Remember, by next year the “rif-raf” will be your neighbors who bought at $85 per square foot.
Just saying.
I think this blog has gotten to the point where people should no longer be able to respond to theards. You guys act little like kid’s who have nothing better to do so you come on this blog to live your delusional life.
Lucas, I like the idea and what lara said about the conference is a good idea as well. I think it will be good for out of towners (which is the intended audience) and not for locals. If you need help organizing let me know.
Raffi,
It hurts doesn’t it?
Great idea for “Serious” out of town buyers who are not familiar w/Miami. But I would move it up to April.
Raffi,
I think you’re absolutely right..
Bmw M3,
Here’s your answer
To those who close on a condo that was placed under contract within 3 months of the tour, I would credit half the cost of the condo tour package at closing for those requiring hotel accommodations and the full cost to those paying the $300 rate.
Muir, not sure what your talking about but since lately you have absolutly nothing worth contributing to the blog you probably don’t know what your talking about either.
Let’s run the numbers on the top pick on this post. We can go through the liens, foreclosures, interest payments and maintenance fees. Handle it from a mathematics point of view.
Many authors have stated that condominiums are not good investments. Just need to go the library to confirm what I’ve been saying.
Agreed that there have been a lot of nonsense posts lately.
Lucas,
Rather than turn off comments, can we turn on the “thumbs up thumbs down” rating system? It looks like its already there anyway and it may help the crowd self-edit all the nonsense posts. I’ve seen it work reasonably well in other blogs.
Doc
Lucas…this is a great idea. I would not mind paying 300 bucks to see what is available in the Brickell/Sobe area.
It would not hurt to advertise in places with high tourist foot traffic like cocowalk , lincoln road, etc. If you do it right, the income from the tourism portion will be better than the sales commission from closed deals.
I guess I should have mentioned that I’m not making one penny from the actual tour. I don’t have the time to coordinate everything that would be involved in order to plan and schedule this type of event.
Like I said, anyone who is serious about spending 2,3,400K+ on a condo shouldn’t mind spending a few hundred bucks and a few days doing a guided tour of deals are available in the market. Depending on the date I might sign up for the complete package even though I have no intent of buying a condo. I’ll get a couple days in miami and get to first hand view of these infamous condos.
I humbly present to you the video of what the Miami real estate market will look like in June.
http://www.youtube.com/watch?v=yj4LnfkdJDM
Note: the role of condominium owner is being played by Ned Beatty.
makes me think re #30
Yes, agreed and makes sense.
If I were an out of towner, I think that $300 is a good deal (IMHO)
Moreover, it’s silly to think that Lucas can make a living with tours.
It’s a good PR gimmick and for the not very sophisticated, it actually may be a good thing because I’m sure Lucas will find them a better deal than 95% of the other brokers out there.
Let me be very clear, and I hope Lucas reads this; if I could not dissuade a friend from buying, no matter what, I’d send him/her to Lucas.
Raffi,
I see schizophrenia here.
It’s obvious that Doctor, GN and AJ are the same person without his/her meds.
Others like you are just into sadomasochism (not that there is anything wrong with that)
The Smart Money believes that the best investment for some are 20-100 hours with a psychiatrist.
Muir.
… and Muir is Sybil (Mark) !
I miss Mark (and all associated entities)
I loved his alpaca stories.
Hope he comes back.
(I don’t think he’s here. Is he?)
I am not as witty as Mark with his alpaca-wool-grows-best-in-East-facing-condos-hence the premium.
Or granite countertops-to be used for alpaca slaughter meat-in non-premium West facing units.
If he is here, I hope he remembers that all it takes is changing the IP address on his router, but I’m sure he knows that.
I actually like the idea of a tour. Not sure if I want to ride a bus however.
Miami2009,
“I actually like the idea of a tour. Not sure if I want to ride a bus however.”
ditto! Hence I posted earlier I’d pay $50 for lunch.
Took a bus tour in Jupiter Island/Tequesta—–> not a Smart day.
___
Think the big fat investor two rows down who decides to pass gas and having to hear two nitwits discuss the market.
Definitely, Muir left his Smart Money card home that day.
The Smart Money learns.
Muir u said “I see schizophrenia here.” what are u talking about? I only use one name, and it’s the same one I’ve always used. look at your frantic posting, the only schizo I see here is you.
When you buy and move in next to me, you are no longer riff raff. You have arrived mate!
someone is hallucinating. They insist I am Candela, doctor, GN and so on. Now who is off their meds?
Thanks AJ!!
(re post #38)
Look forward to arriving some time within next 18-24 months.
(re post #39)
Enjoy it! They think I’m Mark.
Raffi,
Relax, take a deep breath. Really, it’s ok.
Really.
—
Muir, Smart Money doesn’t ride the bus or the seminar.
For a real life seminar go to the 9th floor downtown Wed, Thurs & Fri.
sure don’t want to wait till december for the tour?
2010 that is…
SmartMoneyTV…..watch the video on 5 Reasons Renting Still Beats Homeownership. It is good….and obvious to all but AJ.
http://www.smartmoney.com/smartmoneytv/?vid=14387861001
What is REALLY interesting is that the GOVERNMENT will need to substantially increase taxes thanks to the TRILLIONS in additional debt piled on by socialist democrats. We can argue about the politics BUT one thing that can’t be argued against is that taxes…..AND THIS INCLUDES REAL ESTATE PROPERTY TAXES……will have to substantially increase over the next 10 years and possibly beyond. Do you REALLY think only the high income earners will foot the bill? Think again, assets will also get higher taxes too! Sorry AJ, but you’re not even more underwater. Income taxes, estate taxes, property taxes (esp. on more expensive properties and non-primary residences), sales taxes, all will go up, uP, UP. You get what you vote for and the government debt will absorb a lot of work and wealth. This will drive down after tax dollars available for home purchases and hence will drive down prices even more…….
“SmartMoneyTV”
Smart Money is catching on.
What did W C FIELDS say? “theres a sucker born every day”, or in 2009 “theres another fish waiting to bite”. The bus trip to nowhere is great for the uninformed, just reel em in…………..
Lucas,
I think this is a great idea. When I came down here a year ago, I had an agent drive me around for two days looking at rentals. All I remember thinking to myself is that she was using an awful lot of time and gas to show me around Miami…because that is basically what it was, a tour and an education. And it was a rental, so she wasn’t exactly making a significant commission.
Thinking back on it, I definitely would have paid for that experience and assistance.
Good luck.
completely off topic…
what norman braman wasn’t able to kill, sarnoff and spence jones happily delivered the coup de grace. let’s see if the marlins are really serious and try to go elsewhere…i don’t think they will in this current environment.
A realtor in Las Vegas was doing the bus thing last summer. He picked people up in Orange county, drove them the 300 miles to Vegas on Saturday and returned Sunday night. I think he charged $99 and you got a room at an off strip hotel and some chips and a bbq party on Sat. night. He took them to foreclosures.
Lucas,
I’d love to do the tour but I have a commitment in June. Is it possible to do it in July or August? August would work better for me.
Thanks
For far less than the pocket change of $900.00 here’s how The Smart Money operates.
In an air conditioned fully stocked Limousine supplied by the Concierge at the Ritz or any Five Star Hotel we tour the Banks not the Condos because we’ve found that the best deals are obtained through negotiations with the owners IE: The Banks.
The Smart Money rides in style waving at the rif raf on the bus as we cruise on by to riches.