My Miami Home Made $150,000 Equity(30%) in 6 MONTHS! Better Than Porn / Stock Market?
 

Ahhhhhhh, for ME, I would certainly say so. A house on my Island neighborhood just sold, and on strictly a per sq ft. basis my house shot up 30% from what I bought it for 6 months ago!! That's an official "comparable" I can use for appraisals and sale. PLUS, my house is more updated with marble bths, kitchen, etc. AND has a pool (I saw this guys house before it sold.)

Now, I've seen a lot of posts about bubbles and bursts but I don't know, MIAMI is speeding along and shows no sign of let up. YES, perhaps in 1 1/2 - 2 years when all the new condos go up and become occupiable, and the investors have no one to "flip" them too. But not 'till then.

GFY and porn have been good to me, I'm a very small time content producer. It got me this house. But comparatively I got crushed on the stock market years back, and it took four years doing porn to get this house, so I would say REAL ESTATE is my best investment yet! What do YOU think?

(I posted these a while back, but here are a few pics of my house)

http://www.hotamateurmpegs.com/00 NorthBayVillage.jpg

http://www.hotamateurmpegs.com/01 FrontHouse.JPG

http://www.hotamateurmpegs.com/05 Pool.JPG

http://www.hotamateurmpegs.com/12 EntranceView.jpg

Good stuff man, but I would be afraid to live that close to the ocean fearing hurricanes.

damn man thats a really nice pad

nice what 150 grand gets you there... you'd only get a small apartment down here

My house that I built in Pembroke Pines in Broward county I paid 186k for. Whe it sold this year, it went for 699k in a 4 year period.

i've been thinkin about taking a few courses on real estate at the tech school down the street.

congrats man on the good investment, I think I remember you posting about buying this house not so long ago. Housing is just going crazy right now..

Yeah, dude, we are on edge on EVERY storm now! Even though Dennis went up the gulf coast, I had a large tree knocked over in my front yard!! Thank God Emily is going way below us, but shit, we got 4 more months!!

$150K don't get you shit in miami. Maybe a crappy small studio some where.

BaBa!! That's FANTASTIC, it's CRAZY here. You got in at a much better time than me! I'm late, but still catchin' some action.

Opps, I meant PornGuy (You go BaBa, education is always a good thing)

Vittorio how much u pay for that house

I'm quite sure it didn't costed $150k...its value is appraised in an extra $150k...quite a big difference ;)

That looks like a wicked place to live (except like it was mentioned) for the hurricanes and shit like that

Same with my house.. I bought it last July and a lady 2 houses down just put hers on sale for more than $200.000 more than i bought mine for and she may get up to 250K more.

Dude... I live two blocks south of 79th street on biscayne blvd.. so we be mad close!

Rob, lol, do the math! Haha. Obviously I got a great deal on this excellent condition MiMo Style house.

Rui, I think he meant what would the new equity profit get here in Miami, although I had to read his post twice to see what he really meant.

Dax, Dude, I didn't know you bought a house pretty recently too. CONGRATS!! Yes, we are pretty close. What's your neighborhood called??

Nice place Vittorio. I moved in Dec 2003 back to Miami (from Broward where we cashed a 50% increase in 22 mos ticket) and the realtor I used told me the other day that they have been seeing 30-40% increase for my area (north Pinecrest) in the last 12 mos. Unreal. These are all paper profits but it really adds a little pep to your step when you are told news like that.
:thumbsup

Morningside

Congrats, I'd suggest selling before next summer.

http://www.supload.com/thumbs/default/car.jpg

Thats a nice car

Dax, hot area for sure. I'm gonna try and keep mine as long as I can (come on peeps, keep grabin' up our content!) as long as the money comes in.

Scoreman. I used to stud for you guys a few years back. If you are looking for a GREAT new stud, I got a guy for you. Hit me up at my sig info below. Here's a clip of his prowess collected from our newest content package:

http://www.hotamateurmpegs.com/video/cumshot.mpg

Anyway, yeah Pinecrest is talked about a lot too, I'm glad I finally got the $$ together to get into this market!

i bought a place in tamarac florida. payed $250 for it.

when I do sell it, I'm moving to nc and get a house twice the size for the same price.

I passed the info to the studio for you. I think if its a great woodsman, there is always work for him so something will probably happen.

I like the area you chose to settle down in. We actually looked in that area because Treasure Island elementary has an A school rating. The main problem was when you got to middle and senior high. The people settling in Pinecrest are mostly getting in for their children to run through the schools in this district. I know if it werent for that, we also would be living closer to the beach.

Just curious, when you closed on your house, were you able to secure private company homeowners insurance or were you also forced to go with the JUA? I tried and was completely turned down everywhere and eventually went JUA.

Egawd, thanks!

Black, YES, the only way to REALIZE profit is to buy somewhere cheaper for sure, because EVERYTHING goes up in the same area as well.

Score, thanks. I guess Peter is still shooting?? Ummm I got All State home insurance & flood insurance (required here) and CITIZENS hurricane, they are the only ones offering in FL since Andrew in '92. JUA? What is that?

Very nice looking place man.

Alot of people are cashing in on the equity in their houses by selling them. Just dont do it without a plan. I saw a news story about people selling and then not having a comparible house to buy/move into. So they were forced to rent while the single family home prices continue to rise. :Oh crap

I saw some of the houses in Morningside listed for sale. Those prices are crazy. Just like that loft building on 81st & Biscayne called The Bank. I cant believe they are getting that kind of money for that area. Wynnwood, Overtown, Art District... Speculators have made Miami's real estate market explode!

Joint Underwriting Association I believe. Citizens is JUA, I have Citizens as well. The problem with the JUA is that by State law, the JUA has the highest premiums of all insurers, if you can believe that. I know it pissed me off to no end and combine that with the fact that the JUA has sky high deductibles. The real problem is that no one else is underwriting in Florida is seems.

yep, Pete is still here. I will give him your regards.

Real estete is crazy down here. My Apartment community just went condo and my unit is going for 300k plus, for a 1/1!! :disgust and they are saying that it will go up 60% in the next 8 months to a year.

looks awsome!

crazy shit for sure.

Vitasoy, adonthenet, thanks Dudes.

Dawg, yeah, the Biscayne corridor! Hahaha. That shit won't be done over for 5 years! It's gonna take another 2 to finish Biscayne Blvd. Roads are always first in regenerating a neighborhood. Prices are crazy, so I'm not selling just yet, just excited to finally hear I have a solid comparable to get a sense of the value of my house.

Score, Yeah, Citizens suck, but it's all FL's got. Hope Miami doesn't get hit this year. My GF's parents live in Pensacola. They are alright, but BOY, God doesn't like that place too much! Yeah cool, tell Pete to watch that guys video clip I posted. He could always use the work and he's GREAT. I use him.

Tylo, yeah 60%, that's what I'm lookin' at here I hope!!

The Dawg, what part of town are you in??

Real estate will always get you more bang for your buck

man, I couldn't affoard to live down there anymore.

I use to live in parkland (10 years ago) our home which was at that time 450k is now well over 2 mil... it's insane

David, sounds like you did well, but could've done even better had you held a little longer!!

My little hosue in Phoenix - nothing special - went up $130k in two years. That's insane.

Nice. Till the tsunami comes :Oh crap

Yeah, Florida rules. Moved from NYC 5 years ago. Geez, 400 sf studios are going for half a Million in a decent building and neighborhood in NYC so prices are considered still extremely low per sf here in Miami vs. NYC!