Miami’s Transformation: Why Construction Finance is Powering the Magic City’s Real Estate Boom
In Miami, the city of sandy sand and dancing lights, real estate is on a roll like never before. Because of a combination of reasons – the economy, new people and the desire for a good life – Miami is on the rise, turning its skyline upside down and turning out the smartest property developers.
This change starts with a key instrument – the construction loan. These special loans offer the capital needed to fuel the dreamers, allowing them to build new buildings, update old ones, and make the most of Miami’s nascent neighbourhoods.
The Attraction of South Florida: A Hotbed for Investment?
Miami’s allure is undeniable. It is a tropical oasis with a warm weather year round, clean beaches, and the city is also very cosmopolitan. These new people have caused the housing market to expand making it a great investment in property. But conventional mortgages are usually not the right ones to help pay for new construction right out of the gate. Construction loans enter the picture here as it’s the money you need to make that dream a reality.
Construction Loans: How Miami’s Real Estate is Open to You!
Construction loans are short-term, project-based loans that are specifically for real estate development and construction. In contrast to conventional mortgages which are made post construction, construction loans are repaid phase-by-phase throughout the construction. These payments are done against agreed thresholds, so money goes where it is supposed to go and the project remains on course.
Why Construction Loans are Advantageous For Miami Investors:
Development Loans: Construction loans allow investors to take advantage of Miami’s developing communities where construction is essential in servicing demand for homes and businesses.
Potential Exploitation: These loans help investors unlock the potential of a property by converting undervalued land or older buildings into income producing investments.
Modular Finance Terms & Repayment Structures: The terms and repayment schedules for construction loans are variable, and thus investors can adjust the loan to the needs of their project and their desired price range.
Higher Leverage: Construction loans have a leveraged nature whereby the investor gets to get the maximum ROI using the borrowed money along with their own money.
Easy Application and a Smooth Loan Process: By using a professional lender such as Nexos Invest, the process of applying for a construction loan becomes easy from application to closing.
Miami’s Changing Terrain: The Doors Are Open Opportunity Waits…Around every corner.
Miami’s property boom is not only about the beaches of South Beach and the glamour of Brickell. Creating new neighbourhoods for innovation and growth that are attractive investments for strategic investors. Here are a few examples:
Wynwood: An industrial zone before, Wynwood has been transformed into an arts, culture and nightlife district. With its warehouses and explosion street art, Wynwood will be a draw for those who want to capitalise on the demand for boutique hotels, trendy stores and apartments for young professionals and creatives.
Miami Design District: A shopping destination with the world-class architecture and culture. You can use construction loans to build luxurious homes or commercial buildings that target this wealthy group.
Little Havana: This is a must see neighborhood, still steeped in Cuban tradition and growing with a new generation of residents and merchants. Building loans enable lenders to build mixed-use structures that keep the local feel but have contemporary services and housing.
Working with Nexos Invest: Your Miami Real Estate Boom Guide: How To Get Started.
The home market can be scary as Miami moves through this time-transformation. Nexos Invest knows how the construction loan works, and the opportunities that are available in Miami’s growing neighborhoods.
We have a team of experts who help you through the entire construction loan process, from initial analysis to closing. We connect with investors directly to learn about their business and craft individual finance packages for them.
Nexos Invest: Unlock the Potential of Your Miami Property Investment.
Miami’s real estate market is a magnet for investors looking for a handsome yield.
