Greetings Football Fans and Real Estate Investors!
Last year over 111 Million people watched the Denver Broncos win Super Bowl 50. To put that into perspective the 2016 Presidential election had 126 Million votes. So almost as many people watch the big game as voted for the president! So chances are that either you or your tenants or both watched the Super Bowl this year when the New England Patriots came back to defeat the Atlanta Falcons in a game for the ages! The game was in Houston so you may be wondering what does any of this have to do with Miami Real Estate Investment?
Get Ready for 2020!
If you are not familiar the Super Bowl numbers are always in Roman numerals and the 2020 Super Bowl will be titled LIV and will be held in our own backyards at the completely renovated Hard Rock Stadium in Miami Gardens! This is always great news for the community and the local economy as the impacts are felt before and after the big game. We would imagine the LIV nightclub at the Fontainebleau Hotel will also find a way to capitalize on the roman numerals that match their moniker. So are you starting to see the tie in yet to Real Estate Investment?
It is widely know that Super Bowl host cities have been traditionally held in warm weather climates. The NFL does not want it’s signature event that commands ticket prices of over several hundred and even sometimes several thousand dollars to be held in a freezing northern climate. But recently there has been a shift to favor something even more important to the NFL than warm weather…new stadiums! Basically, every Super Bowl in recent history has been played in a stadium that was less than five years old. And there is only one exception to that rule for the next three planned Super Bowls…you guessed it: Miami in 2020.
Our stadium is now over 30 years old which makes it ancient in terms of an NFL stadium. But this past year Dolphins owner Stephen Ross completed a $500 Million renovation of the stadium that included completely new seats, custom living room style field seats and of course the most important part a new roof! The NFL took notice and awarded Miami the 2020 Super Bowl as a result of these tremendous upgrades.
So the moral of the story is that if you want to attract excellent tenants you must keep your property in impeccable condition and you must also complete regular upgrades. The best tenants will not bother you nearly as much as those looking to count every penny. But they expect the newest finished, upgraded kitchens, tile floors, fresh paint and nice landscaping. If you prepare your investment property to look like it is brand new you will attract the best tenants and your bottom line will love your for it. You don’t even need $500 Million but it couldn’t hurt!
As always Real Property Management Miami is available to advise you on the health of your investment property and which upgrades will get you the most bang for your buck. Give us a call at 305-517-3900 for a Free Property Inspection.
Enjoy the big game and Happy Investing!
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