Greetings Real Estate Investors!
If you have been awake at all during the past week you without a doubt are aware of two things…the Olympics are here and the once unknown area of Wynwood in Miami has been carried away by mosquitoes. Ok well maybe not carried away but local and national news outlets have descended on the up and coming neighborhood with relentless reporting on the spread of the Zika virus.
Ever since the Florida Department of Health outlined a small 20 square block of Miami as ground zero of the first locally transmitted Zika infections the news stories have been non stop. It seems as if every reporter in the country has been directed to purchase a can of Off! and explain what DEET is to an entranced audience.
A “Ghost Town”
Actual headline from the Guardian News Site: “Zika virus scare is turning Miami’s hipster haven into a ghost town”. And all of this fear mongering has had a predictable effect: People are avoiding Wynwood, local businesses are suffering and many are now coming together to plan how they will survive this dramatic hit to the burgeoning local economy. And people are prudent to avoid the neighborhood because Zika is a nasty virus that can cause absolutely horrible disfigurement in the unborn children of pregnant women. So we strongly recommend that you avoid the area at all costs if you are pregnant. But if you are not pregnant the effects are said to be flu like, so take proper precautions to make sure you don’t get bit and support some of these local businesses.
Bad Publicity in this case is Great Publicity
Why would be suggesting that you visit ground zero for Zika? Because of an old saying the if even more prevalent in today’s social media world…Bad publicity is good publicity. Now of course this is not always true, some bad publicity can ruin your career if you do stupid things. And if the reason for bad publicity is permanent and irreparable then it is highly unlikely that there would be a silver lining.
But in this case the huge spotlight that has shone upon Wynwood is going to create incredible long term growth particularly for investment real estate. How do we know? We know the local market and Wynwood has been exploding for the last couple of years and has recently peaked as a hipster haven with some of the trendiest restaurants and night spots in the city. And just when you thought it couldn’t get any hotter this little neighborhood was thrust onto the national spotlight with reports showing the entire country how cool the place really is.
This too shall pass…
The Zika virus is scary that’s for sure but it is also something that will definitely be contained. And all the experts agree that this was just a matter of time and that it won’t be long before other neighborhoods are declared areas for local Zika transmissions. At that point the fears of Wynwood will subside and all that’s left will be an intense national curiosity for the coolest little neighborhood in the country.
Get in Early and Ride the Wave of Investment Properties
So wrap up in long sleeves and brave the summer heat to check out some incredible deals that nobody will want for the next few months but after that it is going to explode. If you get in early you have a great chance to be ahead of the rush.
Of course this is just our opinion but then again Real Property Management Miami has over a hundred rental properties and is part of the largest property management company in the country.
Happy investing!
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