Staying on that theme…Miami is one of the US #1’s in domestic tourist destination. And foreign visitor numbers are still growing despite the global economic problems. This year has been a bumper year so far for tourist numbers. In the coming years with the new airport expansion capacity will more than double!
– My contacts here are confident that Miami will be one of the selected cities selected to host even World Series. The official announcement hasn’t yet been made, but work on several infrastructure projects has already begun.
– Tourists aren’t the only ones driving a supply-demand opportunity. Miami has an enormous supply of good office space. You can buy residential units in the best part of town with at historic low prices. The rental yields are impressive–typically in low double digits.
– The wind on the East coast is perfect to harness as an energy source. One of my contacts has informed me of “just signed a wind farm deals” here. He’s just leasing the land–he didn’t incur the capital outlay to buy the land. But he gets the fat check every year from the utility company for the electricity generated on the land.
– Due to a financial issues, work on an important tunnel (which will connect one of the area’s best ports with the city in a minutes drive) has suffered a long delay. I learned that the financial issue is being resolved and work will start soon–so I took a helicopter ride to see what land opportunities the new tunnel will open up. Most of the property is urban and at bargain
There’s more–a lot more. Too much for me to tell you about in this note. But I’ll share everything I learned of Miami. Let’s do business.