Buying in Germany: first property

Good things should be recommended and one of the largest knowledge platforms in Germany, is definitely one of them, more precisely: Immobilien-Erfahrung.de. Tip. Use the Google Translator to translate the know-how into your language!

• Read Immobilien-Erfahrung.de in English

3 typical mistakes of first-time buyers

Thorsten Bader, expert at B&B Optimal GmbH and managing director of Immobilien-Erfahrung.de, recommends potential buyers to consider their first property exclusively as a capital investment instead of using it themselves. In this case, there is namely the risk that the management costs, such as insurance, property tax and operating costs, which in addition increase in their amount every year by an average of 5 percent, affect the financial independence.

Purchasing without accurate knowledge of the market

Mistake number two is to engage in the purchase of a property without accurate knowledge of the market. Here, there is a risk of buying a condominium at an overpriced price or spending more on renovation work than actually planned. Therefore, potential buyers should carefully plan their finances in advance and be aware of the current market value and the costs involved.

Condition of the property

Mistake number three is not getting enough information about the condition of the property. Here, one should not only check the appearance, but also the technical condition and the structural substance in detail. Hidden defects such as moisture damage or problems with the electrical system can lead to unexpected costs later. A well-done appraisal by an expert is also advisable here.

In summary, when buying their first property, interested parties should make sure that they consider it exclusively as a capital investment, have precise knowledge of the market, inform themselves about the condition of the property and plan their finances carefully. With these tips, a financially sound capital investment in a condominium can be realized.

Why is a capital investment “better”?

Living for rent and renting out your property?

Real estate as an investment offers several advantages over using it as your own home:

1. Renting
2. Increase in value
3. Financial security

Renting instead of owner-occupying

Real estate can be rented out, which can generate regular income. Your tenant pays the installments of your financing with the monthly rent. At the same time, as a tenant, you have to take care of virtually nothing yourself. Self-use, on the other hand, means: If your salary fails, the repayment of the financing fails. If the heating is defective, you have to take care of everything and, so to speak, always have double damage.

Increase in value

Increase in value: real estate tends to have a stable increase in value, which allows the owner to enjoy an increase in value.

Financial Protection

Financial security: renting a property can provide financial security in retirement.

However, it is important to note that any investment carries some risk and it is important to consider an investor’s specific needs and goals before making a decision.

Investing in Germany

Learn more about interesting and attractive locations in Germany here:

• Capital Investment Atlas

Want to learn more about the real estate market in Germany? Use Google Translator to translate the know-how into your language!

• Read real estate-experience.com in English

With a few clicks you can translate the content of the knowledge platforms for German real estate into your language

Der Beitrag Typical mistake! Buying your first property: What can go wrong? erschien zuerst auf ℄ Real Estates.

Buying Real Estate Rental Property – Best Investment Strategies

More and more people are choosing to buy rental property as a lucrative way of receiving passive income, with many opportunities for further investments, massive profits, and a life of luxury and opulence. There is much to consider and research before you make any investment in rental property, but you’re likely going to be quickly looking at cash flow and a realtor lifestyle you could only have dreamed of.

Is Buying a House to Rent a Good Investment? Advantages Disadvantages of Rental Property

There is not one clear answer to whether buying rental property is a good investment. It depends on many factors such as location, the behavior of the market, the tenants, unexpected costs, etc. Therefore it is impossible to say whether it is a good investment for you until you inform yourself as best as you can, and make an educated decision.

Advantages of Rental Property Investments – Tax Deductions, Financial Security

Being a landlord often sounds like a dream job. Essentially you’re being paid because people are living somewhere. It is the most famous and infamous source of passive income. This is perhaps its biggest advantage. In terms of how much work you have to put in per dollar earned, it can be extremely lucrative. Another advantage is that the real estate market tends to be quite stable, which means that the majority of properties (bought in good areas) increase in value. That means, while you’re making a passive income, one day the mortgage will be paid, and despite having made money off of your investment, you can sell it at a higher price than you bought it!

Rental Property Taxes – What Taxes do Landlords Pay?

For one, rental income is not subject to social security taxes. The social security tax rate is currently 12,4% split by employer and employee, meaning that when owning rental property you are paying 6,2% less taxes.

Disadvantages of Rental Property Investment – Difficult Tenants

The biggest downside is dealing with difficult tenants. These can be those that are harmful for the atmosphere (e.g. by being loud), those that damage property (high repair costs), and those that do not pay their rent on time. Another downside is also that you are legally bound quite heavily, as renters are strongly protected by the law. That means that difficulties can arise, and cause a lot of stress. Of course it’s important to decide in what real estate to invest, because if you buy a house, these issues tend to be less serious.

• Damaging Tenants
• Tenants who do not Pay Rent

What does a Landlord Do? Tasks, Responsibilities when Owning Rental Property

In short, a landlord is in charge of general upkeep. That means repairs in the house such as plumbing or electricity which the landlord has to fix. Other things include maintaining the more general facilites. For example, if you own rental property you have to make sure common areas are cleaned, the doors, elevator, etc. all work, and more. Then comes the problem of rent. Some tenants can be quite a hassle when they don’t pay rent on time, in which case you have to contact them and collect the rent yourself.

• Repairs in home
• Maintenance of Property
• Collecting Rent

Financial Planning for Becoming a Landlord

That means paying off all debts, making sure you have enough saved up for a downpayment, and securing your finances for the long-term future. It is also probably a good idea to secure a separate business account.

• Save enough for a Downpayment
• Job Security

Six Steps to Purchasing Rental Property – Buy House, Apartment

The five steps to owning rental property begins with your finances. Next, research and strategy. Where do you want to invest, how is the market in that area, what type of real estate you want to invest in, the general turn of the economy and much more! Now your strategy with short-term vs long-term rentals, buying a house or apartment, etc. Step 4 is finding the property you want to purchase. Step 5 means buying the property (and getting a good deal!). And lastly, perhaps most difficult, find tenants!

1. Order your Finances
2. Research
3. Strategy and Investment Planning
4. Find the Property
5. Purchase Property
6. Find Tenants

Step 1: Order your Finances – Landlord Bank Account, Savings

The most important thing before buying a house or buying an apartment is to get your finances in order. That means having paid off all debts, or nearly all, having a good credit score (otherwise get ready for mortgage insurance). Then, you will want to open a separate account. This can of course be done by registering a real estate LLC in which case you would buy the property over the company. Otherwise you will have to open a new account.

Step 2: Research – Where to Buy, When to Buy Rental Property

This is an important step, as you will need to get a lay of the land of where you want to invest and how. There is no universal manual because, e.g. if you buy a house in New York, it’s different than if you buy an apartment and then even more different if you buy an apartment in L.A. It’s also critical to know about the more specific location, there are always up-and-coming neighborhoods in every city. The top USA real estate neighborhoods are spread out all over, and you could be living near one without knowing! We’ve tracked down the best locations for the biggest players in American real estate:

• Top Neighborhoods: New York
• Top Neighborhoods: Los Angeles
• Top Neighborhoods: San Francisco
• Top Neighborhoods: Miami
• Top Neighborhoods: Las Vegas

Step 3: Strategy, Investment Planning – ROI, Value

The typical question for real estate and rental property investment is the ROI. ROI means return on investment, which is typically expressed in a percentage. It just tells you how much money you make in proportion to how much money you spend. You should know that, unlike stocks, or REITs, rental property will not be valuable or a good investment because it is constantly rising in value. Rather it is an additional income on the side, apart from your normal investments.

• ROI = Return on Investment
• Real estate is about cash flow

Step 4: Find the Property – House Hunting, Realtors

Next step is to find property, this can turn out to be quite difficult or quite easy depending on the region. Typically this is also the point where you will decide whether you choose a fixer-upper or a ready house. For experienced investors this is a normal thought, but if you are just starting out, a fixer-upper can be extremely risky and bankrupt you. Unless of course you want to get into flipping houses.

• Fix-Up or ready house?

Step 5: Purchase Property – Mortgage, Cash, Downpayment

Of course with a cash purchase you can circumvent a lot of the additional real estate purchase costs, but not all (think mortgage tax and transfer tax, and moving expenses). Still, as soon as you purchase with a mortgage you will be paying more in the form of mortgage interest. There are different opinions on the specifics, but it is always important that even if you are absolutely in love with a house, to let cooler heads prevail. There are many reasons to buy a house for rental property, but these are all related to finances and strategy.

• Real Estate Closing Costs
• Logic should decide whether you buy

To learn more about what happens when you get to the point of actually buying a house, you can take a look at our article on all the taxes you will pay when you buy a property or real estate.

Real Estate Purchase: All Taxes

Step 6: Find Tenants – Advertising, Location

This is the point that it can get very very frustrating, or very comfortable. If you’re living in a place like L.A., this can be quite easy with very high demand making a good tenant easy to find. In other places you may have to wait for the right one. Important though, if you get the feeling that the fit isn’t right, don’t sign a contract! It is near impossible to force a tenant out legally, and one more month without the extra income won’t make the difference.

• Don’t rush the search
• Easier in bigger cities, with higher demand

Top 5 Tips for Buying Rental Property! LLC, Saving Taxes

There are many things to be aware of, and things to take into account for buying rental property for real estate investment. It’s important that you research a lot so as to make a smart decision. Still, there are a few secret tips that are very important to ensure quick profit from rental property!

1. Do the Math!
2. Landlord Insurance
3. Found a Company
4. Buy or Finance?
5. Go out of State

Do the Math! Research, Calculation of Costs for Rentals

This is critical. Of course, before investing in rental property the most important thing is extensive and intensive research. This does not only consist of informing yourself about e.g. mortgage or mortgage interest, and a downpayment. The main question is: for each dollar that you invest in this real estate rental investment, how much will you get back. Factor in the time, and then compare to your finances. It is possible that your investment strategy only offers returns after two years. Can you hold out that long?

For each dollar you invest, how much will you gain? When is your investment profitable?

Get Landlord Insurance! Recover Lost Rental Income, Liability Protection

There are going to be accidents, unwanted injuries and more on your property. You need to protect yourself from this. One possibility is with a limited liability company or the similar s corporation (see below), but this is not going to protect you legally, rather than just make sure that a legal action does not bankrupt you. So you have to get landlord insurance! A landlord insurance covers lost rental income (great for the rare difficult tenant), damage to the property, and of course, as mentioned liability protection against injuries or worse on your property. Remember, itemizing insurance costs is one of the top methods of real estate tax deductions!

• Protection against lost rental income
• Damage to property
• Liability for injuries on property

Found a Company – LLC, S Corp or C Corp

As mentioned above, it’s important to protect yourself from possible liabilities. Even with landlord insurance, you should likely put in the effort and cost to found a real estate entity which owns the buildings in your place. The main examples are the LLC, S corporation, C corporation, and Limited Partnership. These all differ in the degree to which they protect you from liability, but also to the degree in which they prevent double taxation, a common problem with other real estate investment entities.

• LLC
• S Corp
• C Corp
• Limited Partnership

Buy or Finance? Mortgage or Cash for Rental Investments

You will hear many voices insuring you that the only smart choice for buying a rental property is to finance it, in other words to buy it using a mortgage. This is true in most cases, but if you have the money available, buying cash can be even better. No mortgage interest, no uncertainty, and you profit right away. Of course you’ll be a few thousand dollars lighter, bt this comes in with rental income over time. It’s also seemingly forgotten at times that a house purchased with a mortgage still requires a substantial downpayment, as well as significant additional costs buying real estate, which means even with a mortgage, where, e.g. a 20-year plan can hound you for years, you have some saving to do before starting to invest and reap profits.

• Buy with mortgage
• Consider alternative cash options

Go out-of-state! Rental Investments Far away – Is it Profitable?

Many first-time investors make the decision to buy close to home. They hear a great offer for a house nearby in an up-and-coming neighborhood and choose to buy because it’s just a few minutes drive away. It’s true of course that this has its advantages; if a renter has an issue or a repair, you can come by quickly and fix it, you can give personal house tours with no problems, etc. At the same time, it’s a calculation game. There are extremely profitable neighborhoods in many parts of the country. Buying a rental there can give you much larger profits in much shorter time. These profits would offer the possibility of a property manager, reduces your involvement and makes the now-larger income even more passive.

• Advantages to buying nearby
• Far away can be much more profitable

Gross Rental Income – Top Tip for Saving Taxes

Easily explained: rental income is taxed as your normal income would be taxed. That means you add it to your salary as you would a normal job. Rental income can include the following types of payments: Advance payments of rent, non-returned deposits, services provided in exchange of rental income. Now we know what the income consists of, but the question is how can you pay less of it?

What can be Deducted from Rental Income? Itemizing Tips

You can deduct more than you think from your rental income. That includes things like the mortgage interest of your property, the insurance costs and property taxes. Along with these it is also typically possible to deduct fees such as those for advertising your properties, and those for legal assistance and for the Homeowner’s Association.

• Depreciation
• Property Manager Payments
• Mortgage Interest
• Insurance Costs
• Property Taxes
• Advertisement Fees
• HOA / Condo Fees
• Legal and Professional Fees

There’s so many more tax deductions you can use when you own real estate, whether as residence or as a landlord!

Real Estate Tax Deductions

Best Gross Rental Income Deduction! Depreciation

The most important concept here is depreciation. Depreciation is the answer to every time you wondered why real estate moguls and landlords pay so few taxes. Large items bought for business purposes can be deducted from your taxes, but not all at once. That means e.g. a property worth $250.000 which is deducted from taxes over a 27,5 year period, leads to a reduction in your taxable income of

$250.000 / 27,5 y = $9.090

per year! Add that to all the other possible real estate tax deductions, and many owners pay no taxes on their rental income!

Der Beitrag How to Buy Rental Property – Becoming a Landlord, Investment and Purchase Tips erschien zuerst auf ℄ Real Estates.

What are the Best Neighborhoods in USA? High Standard of Living

The USA is home to some of the biggest and most attractive cities in the world. From Miami to L.A., cities here are incomparable to anything else worldwide. There’s undreds of thouands of millionaires living in the USA, and you may be wondering where. Well, for this reason we’ve compiled the biggest, best, most expensive, and luxurious real estate locations in all of USA for you. This is the definitive list of real estate investment in USA neighborhoods.

Most Expensive Neighborhoods – What is the Richest Suburb in America?

No surprise, the richest suburb in the USA is Atherton, California, right next to Silicon Valley, where hundreds of ultra-wealthy CEOs live. The average house here is worth over $10 mio., and the average salary around $450.000. Thanks to it being right next door to San Francisco, the inhabitants will also find enough to do. New York is also represented on the list, as well as Miami, and Boston. Perhaps surprisingly, Wilson, WY is also in the top 10. Alongside it, Glenbrook NV which may owe its position to the fact that Nevada has no income tax. Check out the full list with the median house price below:

1. Atherton, California – $10.194.000
2. Los Altos, California – $6.326.000
3. Tribeca, New York – $5.137.000
4. Medina, Washington – $4.894.000.
5. Fisher Island, Miami – $3.707.000
6. Glenbrook, Nevada – $3.225.342
7. Beacon Hill, Boston – $3.155.000
8. Woods Hole, Massachusetts – $3.154.000
9. Snowmass, Colorado – $3.031.000
10. Wilson, Wyoming – $2.798.000

Miami Best Neighborhoods for Real Estate – Coral Gables, Indian Creek Island, Co

Miami Vice, CSI: Miami, there are seemingly hundreds of TV shows and movies set in this legendary city. Thanks to its uniquely attractive climate, along with ultra-expensive real estate, you’re likely going to be looking at a life of vacation in this Florida metropolis.

If you’re looking at buying property in Miami, you’re going to want to know exactly which neighborhood you are going to be lookinng at. It is important to invest in the right areas to avoid a depreciating property haunting you. Below is our suggestion on the best neighborhoods in Miami to invest in real estate:

1. Downtown Miami
2. Coral Gables
3. Little Haiti
4. Bayshore
5. Pinecrest
6. Coconut Grove

Of course if you want to really go for the big time, and move to one of the richest neighborhoods in USA, you can also head for Fisher Island or Indian Creek. Here you can expect to pay over $10.000.000 for an average house! Check out the full article on Miami neighborhoods below!

Miami – Best Neighborhoods

Los Angeles Best Neighborhoods for Real Estate – Bel Air, Culver City, Co

Los Angeles is famous for its vancant lots, its relaxed atmosphere and legendary suburbs. Buying a house in L.A. was for some time a pleasure, with Culver City, Echo Park, and similar communities being home to affordable real estate and desirable living. Nowadays though you’ll likely have to settle for less.

Los Angeles real estate investment requires a good strong look at the neighborhoods. We’ve analyzed the data and come up with our suggestions for buying real estate in Los Angeles. Below is the definitive list of best LA neighborhoods for property investment:

1. Culver City
2. Silver Lake
3. Glendale
4. Monrovia
5. North Hollywood
6. Highland Park
7. Venice Beach

These are probably the best neighborhoods if you’re thinking about investing in real estate. For a full rundown of where to invest, and how to invest in LA, take a look at our article which tells you all the most important facts about L.A. real estate investment.

Los Angeles – Best Neighborhoods

NYC Best Neighborhoods for Real Estate – TriBeCa, Upper East Side, Co

There are a lot of really expensive places in New York. In fact it is one of the most popular places for the super rich. If you’ve walked along the streets in TriBeCa or Chelsea, you will not be surprised that these areas count to some of the most exclusive, luxurious neighborhoods in the whole country.

For New York real estate investment we must go beyond TriBeCa and Manhattan though. Williamsburg, Flatbush, are great places if you want to buy an apartment in New York, and in the Hamptons you’ll have no problem buying a house in NY. all places where a good deal will take you far. Below is the definitive list of best NY neighborhoods for property investment:

1. East Village
2. SoHo
3. Park Slope
4. Williamsburg
5. Greenwich Village
6. Chelsea
7. TriBeCa

These are probably the best neighborhoods if you’re thinking about investing in real estate. For a full rundown of where to invest, and how to invest in NYC, take a look at our article which tells you all the most important facts about NY real estate investment.

New York – Best Neighborhoods

San Francisco Best Neighborhoods for Real Estate – Haight/Ashbury, SoMa, Co

San Francisco is where the hippie movement began, where Facebook, Apple, Google, and pretty much every other tech startup call home, and is also home to some of the most expensive suburbs in the world. Of course not everywhere is expensive here, and if you want to invest smartly, you will not invest only in the areas that are already in. One positive, California property tax is quite low compared to other states!

If you’re looking at buying property in San Francisco, you’re going to want to know exactly which neighborhood you are going to be looking at. It is important to invest in the right areas to avoid a foul investment. Below is our suggestion on the best neighborhoods in Miami to invest in real estate:

1. SoMa
2. Union Square
3. Sunset District
4. Nob Hill
5. Haight/Ashbury
6. Pacific Heights

These are probably the best neighborhoods if you’re thinking about investing in real estate. For a full rundown of where to invest, and how to invest in San Francisco, take a look at our article which tells you all the most important facts about San Francisco real estate investment.

San Francisco- Best Neighborhoods

Las Vegas Best Neighborhoods for Real Estate – Bel Air, Culver City, Co

Las Vegas is the city of sin, and its real estate market may at times feel like that. The market here can be complex and scary, but not to worry because we are experts. One advantage of living in Las Vegas: Nevada is one of the states with no income tax.

Las Vegas is perhaps best known for the strip, and while it’s certainly not a bad idea to invest here, there are many places you only find out about if you’ve lived in the area. There are hundreds of gated communities around it though, and Summerlin and Henderson are the suburban millionaires dream areas. Check out our list of the best neighborhoods for property investment:

1. Whitney Ranch
2. The Strip
3. Arts District
4. University Districct
5. Summerlin
6. Rancho Charleston

These are probably the best neighborhoods if you’re thinking about investing in real estate. For a full rundown of where to invest, and how to invest in LV, and the things you absolutely need to look out for, our article can help. Check out

Las Vegas – Best Neighborhoods

How to Invest in Real Estate USA – Most Important Facts

If you’re wondering about where to invest in the USA, look no further. Big players like New York, Miami, and Los Angeles are analyed above, to explain in detail the state of real estate, an analysis of the current real estate market in USA, broken down, in simple words.

Real Estate Forms – Types of Property Investment

There are many different types of real estate (whether commercial, industrial, residential), but also different types of residential real estate, such as condos, apartments, houses, and the list goes on on and on. There are a few to concentrate on, and for sake of space, we won’t go into too much detail here. The most important types are house, apartment, townhouse, and condo. Check out our article if you want to learn more about types of real estate investment.

• Apartment
• House
• Condo
• Townhouse

What Real Estate Corporations are There? Sole Proprietor, S Corp, LLC, etc.

If you’re going to invest in real estate, you will want to reduce real estate taxes, and reduce liability. This is important so that you do not become involved in a costly legal battle which can cost you your livelihood. Forming a company which rents and owns your property means that the company is liable, and not you. If you want to do real proper investment, and would rather avoid legal issues and unnecessary taxing, these forms of corporations are for you:

• LLC
• Limited Partnership
• General Partnership
• S Corporation
• C Corporation
• Multiple Entities
• REIT

Taxes – Real Estate Taxes Explanation

Taxes are almost universally hated. On top of the fact that it a person has to give away some of their own money, it is also incredibly confusing which makes it all the more frustrating to deal with. Thankfully, that second part can be helped with our easy explanations on the topics.

Property Taxes – What are Property Taxes?

Property taxes are taxes you pay to the state in return for owning real estate. This can be in the form of a house, or of a piece of land, and in some states you can even pay property taxes on your boat or computer.

• Illinois Property Tax – 2.05%
• New York Property Tax – 1.40%
• Florida Property Tax – 0.94%
• Washington Property Tax – 0.92%
• California Property Tax – 0.74%
• Hawaii Property Tax – 0.30%

Property taxes are typically calculated by multiplying a certain rate (e.g. in Washington: 0,92% = 0,0092) by the value of your property (e.g. $1.000.000), which results in your property tax:

0,0092 x $1.000.000 = $9.200

For a full list of property tax rates by state, check out our article

• Property Taxes Explained, Ranked by State

Buying Real Estate Taxes – Transfer Tax, Mortgage Tax, Etc.

There are 3 taxes when buying real estate. These three are real estate transfer tax, the mortgage tax, and property taxes, which you must pay pro-rata. In fact these are just few of the costs which will be approaching you when buying real estate! There are also the infamous closing costs, which can cost incredible sums.

• Transfer Tax
• Mortgage Tax
• Property Tax (Pro-Rata)

Are you looking to save money on the taxes you have to pay in relation to your real estate. Then you should take a look at the many

Real Estate Tax Deductions

Der Beitrag USA: Buy Property! Neighborhoods to Invest – Coral Gables, Manhattan, Culver City, Co. erschien zuerst auf ℄ Real Estates.

Where do the Richest People Live?

If you’re a millionaire, you want a house befitting of a millionaire. That’s why we’ve collected everything you need to know about the places with the most millionaires, the most billionaires, the most expensive cities int he world and the country. This is the definitive luxury list. London is the city with the most millionaires in the world, with 357.000, the size of a small city! Keep reading to find out where the richest of the rich buy their property…

List – Cities with Most Millionaires

One way to measure where the richest people live is to see how many millionaires live in the city. The more millionaires, the more luxurious, expensive and high class the city is bound to be. What makes up a city to have a lot of millionaires? First and foremost, a lot of people. That means that in a city with 5 million inhabitants, you’ll likely have 5 times more millionaires than in a city with 1 million inhabitants. It’s also about where there’s luxury real estate though, because millionaires want to live like millionaires.

Worldwide – Top 10 Cities with Richest People

So, without further ado, it’s time to look at the cities which are home to most millionaires. No surprise, New York is near the top with 357.000 millionaires . It’s a playground if you want to buy luxury New York real estate. The top 5 are rounded out by London at the very top, and three asian cities following. The top 10 cities with the most millionaires worldwide are:

1. London, UK – 357.000 millionaires
2. New York City, USA – 339.000 millionaires
3. Tokyo, Japan – 279.000 millionaires
4. Hong Kong, HK – 228.000 millionaires
5. Singapore, Singapore – 217.300 millionaires
6. San Francisco, USA – 180.300 millionaires
7. Los Angeles, USA – 173.300 millionaires
8. Chicago, USA – 135.000 millionaires
9. Frankfurt, Germany – 128.300 millionaires
10. Beijing, China – 122.000 millionaires

USA – Top 10 Cities with Richest People

The USA is well-represented in the top 10 cities worldwide, making up 3 of the top ten. That’s not bad. In total the USA has over 18.000.000 millionaires, more than 4 times as much as the nearest competitor, China. With this many millionaires, they have to live somewhere, a lot of them in NYC, San Francisco, and Los Angeles obviously, but where else? These are the top 10 cities in the USA with most millionaires:

1. New York City, NY – 339.000 millionaires
2. San Francisco, CA – 180.300 millionaires
3. Los Angeles, CA – 173.300 millionaires
4. Chicago, IL – 135.000 millionaires
5. Washington, DC – 120.000 millionaires
6. Boston, MA – 110.200 millionaires
7. Philadelphia, PA – 109.000 millionaires
8. Houston, TX – 98.500 millionaires
9. San Jose, CA – 90.700 millionaires
10. Detroit, MI – 90.100 millionaires

Most Popular Destinations for the Ultra Rich – Las Vegas, L.A., and more

So you want to learn more about how the richest of the rich live? Well look no further. The richest can be found in Las Vegas Bellagio Suites, Miami Penthouses, and New York Lofts. This is how the richest of the rich live.

Las Vegas – Where the Millionaires live

Las Vegas is home to the richest man in Nevada and the richest man is: Sheldon Adelson, owner of the Las Vegas Sands, a luxury resort chain. It is home to the world’s biggest and best Casinos, and some of the most prime real estate you can imagine. Las Vegas has more gated communities than water in the ocean, and each is more luxurious than the last. That makes it attractive for people looking to have some fun, but also people who are looking to invest smart.

$18.5 mil. Mansion – Villa Tour in Las Vegas

One example of a property in Las Vegas. Typical for the city: decadent furnishings, modern and sleek style, combined with lush greenery, and of course… a golf course in immediate proximity. It also has 7 bedrooms, as well as pool with its own 21 foot waterfall.

• Location: 93 Spanish Gate Drive, Las Vegas, NV 89113

What is the Most Expensive Neighborhood in Las Vegas? The Ultra Rich

It’s a bit of a complicated matter, with Summerlin and Henderson probably being the residential areas with the most >$1 mil. transactions. Although these are not strictly within city limits, we’re just going to count it as Las Vegas. So, the most expensive residential area in Las Vegas is ‘the Ridges’, located in Summerlin. Prices range from $2 mil. and $7 mil. for a house. It is also the area in Las Vegas with most house sales >$1 mil, with the most expensive on the market at the time of writing being $30,4 mil. The full list of most expensive communities in Las Vegas below:

1. The Ridges: $2.000.000 – $7.000.000
2. Anthem Country Club: $1.200.000 – $4.400.000
3. Macdonald Highlands: $1.000.000 – $4.200.000
4. Southern Highlands Country Club: $1.000.000 – $3.000.000
5. Seven Hills: $1.000.000 – $2.700.000

Las Vegas Luxury Real Estate – Property Investments in Sin City

In Las Vegas, real estate is a commodity like in any other city, except with the difference that the city is filled with people looking to make a quick buck, and ready to take a risk. What real estate is concerned it’s an interesting market, and is likely going to be a growing niche in the national markets. Learn more about the hottest neighborhoods, the best places to live, and what you have to know about Las Vegas:

Las Vegas Luxury Real Estate

Miami – Billionaire Row in Florida

Miami is a tropical mega city, and has all the luxury and decadence to show for it. From manmade islands, to the best restaurants in the world, as well as a booming arts scene, and postcard worthy views at every turn. It’s hard to top this city for atmosphere. No wonder it’s home to thousands of millionaires who happily take a seat overlooking the clear turquoise blue waters. If you want to live among the ultra-wealthy, Miami is the place to go.

Designer Mansion in Florida – Millionaire Miami House Tour

Just outside Miami is Tommy Hilfiger’s ‘Fun House’. Here, nestled between ocean and palm trees is a mansion that looks more like a luxury resort. Estimated to be worth around $25.000.000, this probably isn’t easy to purchase. But it is on the market right now! Designed by Martin Lawrence Bullard, this beach villa tour is bound to leave you speechless.

Most Expensive Areas – Where do Millionaires live in Miami?

You may have heard of millionaire’s row in Miami. But Millionaire’s Row isn’t what it used to be. Not since the 90’s have the richest people in Miami lived in this stretch on Collins Avenue between 41st and 63rd Street. Nowadays the ultra-wealthy are heading towards Indian Creek Island, where the biggest and most expensive houses can be found.

List – Where do Millionaires live in Miami?

In Miami, millionaires tend to live in a few top neighborhoods. Although arguably all of Miami Beach is a massive luxury suburb, there’s some neighborhoods you won’t believe. As mentioned the most expensive, hottest, most billionaire, CEO, model, Actor place is definitively Indian Creek Island. Also popular are the Venetian Islands, manmade islands with some of the east coast’s most exclusive properties. Another area to keep in mind: Fisher Island, another of the famous islands lining Miami’s coral-blue waters. These are the richest neighborhoods in Miami:

1. Indian Creek Island: $15.000.000 – $47.000.000
2. North Bay Road: $7.500.000 – $45.000.000
3. Star Island: $7.100.000 – $28.000.000
4. Hibiscus Island: $1.200.000 – $14.200.000
5. Venetian Islands: $1.000.000 – $25.700.000

Where to Buy Property in Miami – Real Estate Investment Florida

To make smart investments, you need to know the situation. From Florida property taxes, mortgage, renovations, etc. everything you need to know about buying a house in Miami, can be found in our article on the top investment areas for Miami. It also details real estate market explanations, and steps to buying real estate, houses, apartments, etc. in Miami, Florida’s hottest, richest, biggest, city.

Miami Luxury Real Estate

Los Angeles – Richest, Celebrities, and CEOs

Los Angeles is maybe one of the most famous cities in the world. If you want to buy real estate in L.A., you may want to look away now. L.A. isn’t just famous because it’s home to Hollywood, Bel-Air, and Beverly Hills. This mega city has everything from art, world-class restaurants, stadiums, beaches, and the list goes on. It’s truly a playground for the richest of the rich.

Top 10 Richest People in L.A. – Who are L.A’s richest inhabitants?

The richest people to live in L.A. are mostly businessmen. There are few women, and also few from the film industry. Although the famous movie director Steven Spielberg is at 12th, and music mega-producer and owner of Geffen Records, David Geffen is at 6th position. The richest people living in L.A. are Elon Musk ($197 bi0.), pharma mogul Patrick Soon-Shiong (6,9 bio.), and Sean Parker ($3 bio.). To spot for the richest people in L.A., the full list of wealthiest Angelenos:

1. Elon Musk
2. Patrick Soon-Shiong
3. Sean Parker
4. David Geffen
5. John Tu
6. Eli Broad
7. Stewart & Lynda Resnick
8. Tamara Hughes Gustavson
9. Steven Udvar-Hazy
10. Rick Caruso

Most Expensive Property in Los Angeles – Luxury Home

This massive property has been dubbed the most luxurious house in the USA. Being worth over $250 million, and including a prviate helicopter, personal chefs, masseuses, 24/7 security, and much more, it makes sense that this property is as expensive as it is.

• 21 Bathrooms
• 12 Bedrooms
• Location: 924 Bel Air Road
• Price: $250 mio.

Where do the Rich Live in Los Angeles? Most Expensive Areas in L.A.

Everyone’s heard about the mega-mansions in Beverly Hills, or the villas lining the palm-lined streets in Bel-Air. There’s probably a lot of areas you’ve never heard of though, that are home to the richest and most luxurious houses you can imagine. Topping the list, Beverly Hills with the average home here costing aroun $9.990.000. Note, if you want to buy an apartment in L.A., it won’t be this expensive! Below the list of most expensive neighborhoods in L.A.:

1. Beverly Hills – $9,99 mio
2. Bel-Air/Holmby Hills – $5.7 mio.
3. Malibu – $5,49 mio.
4. Brentwood – $4,5 mio.
5. Pacific Palisades – $4,7 mio
6. Beverly Hills Post Office – $4,4 mio.
7. Santa Monica – $3,6 mio.

Buying Real Estate in L.A. – Most Expensive

For Luxury Real Estate in L.A., for example if you want to buy a house in L.A., you’re going to want to get informed first. That’s why we have our full overview below. It tells you everything from the current state of the market, the things you should look out for, where to buy real estate in L.A., and pretty much everything else you need to know if you’re thinking about buying property in the city of angels.

Los Angeles Luxury Real Estate

New York – NYC Billionaires Real Estate

If Los Angeles is one of the most famous cities in the world, New York City is the most famous. It is synonymous with metropolis, America, and everything you could ever want or imagine exists in this mega-metropolis. It’s home to some of the tallest buildings in the world, the richest people in the world, the best condos and apartments, and the best bars and restaurants. Apart from some extremely high property taxes, New York City is a gift for real estate investors.

Condo tour in New York – Luxury Apartment Walk-Through

This apartment can be found in the world’s slimmest skyscraper, and gives you a view of central park. It’s seemingly endless luxury begins with the plaster walls, true-wood flooring, a bar with marble countertops. If you’re packing your bags, slow down though, as you’re going to be looking at the hefty price tag of $28.750.000.

• Price: $28.750.000
• Location: 111 West 57th

What is the Most Expensive Neighborhood in New York? The Richest in the Big Apple

It’s no surprise that almost all of the most expensive properties in New York are going to be found in Manhattan. Famous for big companies, its crazy income tax, and skyscrapers to no end. Remember that these prices are for buying an apartment in New York, if you want even more luxury, try buying a house in New York. The ultra-luxurious and high-class areas in this part of the city are world-famous. SoHo, TriBeCa, and Hudson Yards can be heard in movies and songs every year thanks to their iconic status in culture. The most expensive neighborhood in all of NYC is NoHo, with the average house costing around $3.250.000. On a side note, the most expensive area in Brooklyn Cobble Hill is around $1.600.000, and in Queens, Ditmars Steinway is $1.100.000.

1. Noho – $3.250.000
2. Hudson Yards – $3.201.875
3. Tribeca – $3.150.000
4. Central Park South – $3.050.218
5. Nolita – $3.002.146
6. Theatre District – $2.970.000
7. Bowery – $2.350.000
8. Soho – $2.330.000
9. Civic Center – $2.270.000
10. Hudson Square/West Soho – $2.050.000

Luxury Real Estate New York – Expensive and Luxurious

Buying real estate in New York is surely no easy task. If you’re thinking about investing in New York real estate, or even just want to get informed about the real estate market in New York, we have the perfect reading for you. In the article below we detail the best neighborhoods to live in New York, where to buy real estate, how to get into the real estate market, and what you need to look out for. It’s part of our series on buying a house and buying an apartment.

New York Luxury Real Estate

Der Beitrag Where do the Richest People Live? Millionaires, Billionaires and USA Mega-Mansions erschien zuerst auf ℄ Real Estates.

Miami: Florida Real Estate and Property Investment

Miami may be synonymous with celebrities living in multi-million dollar mansions, some of the world’s best nightlife, and beaches, but it’s a lot more. There’s a massive cultural scene, there are great schools, and much more. For these many reasonss Miami is considered a future star of the American real estate market. Take a look below, what living in Miami’s super luxury can mean for you. Whether you want to buy a house or buy an apartment, Miami can give what you’re looking for.

Miami Mega-Mansion House Tour – $17.9 Million Beach Mansion

This ultra-modern luxury mansion is on the market for a whopping $17.9 million. For good reason though, as it has everything you’d want. Located on the man-made Venetian Islands, this place is everything your wildest dreams could imagine.

Located on the Venetian Islands, this is a home you want to have seen at least once in your life. A massive 7 bedrooms, and 7,5 bathrooms also mean that you can have as many guests over as you’d like, and you won’t run out of room.

• Location: 825 E Dilido Dr, Miami Beach, FL
• Price: $17.9 mil.
• Bedrooms: 7
• Bathrooms: 7,5
• Square feet: 8.048

What are Miami’s Industries? Miami Economy Explained

Miami is a somewhat wealthy economy. It has massive sectors of retail trade, service industry (hotels, restaurants, etc.), and construction. Miami’s current unemployment rate lies at 3,2%, which is below the US average, and much lower than e.g. Los Angeles, with 5,1%. You also cannot forget the massive tourism industry which takes charge in this city. The massive airport, prime vacation activities with everything from yacht, golf, and country clubs, diving, some of the world’s best restaurants, and so much more.

• Retail
• Service
• Construction
• Manufacturing

Where does Miami Rank in Cost of Living – Is Miami Expensive to Live?

In the cost of living index published by Numbeo, Miami is ranked 24th (77,49), New York and San Francisco are miles ahead, taking spots 2 and 4 respectively, while America’s other party city Las Vegas is comfortably in 79th place. The average restaurant trip here will cost $15,00 and a loaf of bread $2,99. In addition to rent, which is on average $1.325-$1.1.884 (1 Bedroom apartment) or $2.527-$3.688 (3 Bedroom apartment), basic utilities for a month cost $146 and the average internet plan $68. This is all to be taken in relation to the average salary, which is $3.362 a month after tax. To see how LV stacks up against other big metropolises, take a look below:

• Hamilton, BE (147,00) – 1
• New York City, NY (100,00) – 2
• San Francisco, CA (94,17) – 4
• Los Angeles, CA (81,31) – 15
• Miami, FL (77,98) – 25
• Las Vegas, NV (68,24) – 79

Rent Index – How Expensive is Rent in Miami?

Rent in Miami is quite high, ranking 16th highest for North American cities with a rent index of 62,01. The rent index tells you the relative price of rent. With many workers in this city passing through or only staying for a few years, rent can be an important thing to take a look at. Miami has very high rent, and a comparatively low average salary. Take a look at the ranking below, with rent index and position for North American cities:

• San Francisco, CA (116,48) – 1
• New York City, NY (100,00) – 2
• Los Angeles, CA (75,17) – 10
• Miami, FL (62,01) – 16
• Las Vegas, NV (38,99) – 64

Miami – Beach Drone Flight in Florida

One of the most famous ocean cities in the world. This is a beauty to look at. Some of the most modern architecture, and the decadent style which the U.S. is so famous for worldwide. Pure elegance.

Real Estate Investment: Luxury Properties in Miami

Miami is one of the hottest cities in the USA, and therefore, no surprise, it is also one of the hottest real estate markets in the country. Filled with super high-end condos, luxury villas, and more, this is an enticing market for the wealthy.

Rent Prices Miami – Should I Rent or Buy in Las Vegas?

It’s always important to look at the prices when thinking about whether to buy or rent. You should also think about two other things though. Your preferences, and the permanence that you want from your living situation. If you have a preference to let other people take care of major things, like cleaning public areas, etc. renting may be a good option. Additionally, with a job where you are likely to relocate frequently or have an uncertain job situation, renting is the clear best option. The average rent is $1.708, with an average apartment being 887 square feet. This comes out to

• Average Rent: $1.708
• Average Apartment Size: 887 sq. feet

What type of Real Estate Should I invest in?

Types of Real Estate Investment

Is Miami a Good Real Estate Investment? Property Investment Miami Overview

Miami is a growing market at the moment. At least in terms of prices: in the greater Miami area, median sales price increased by 5.5%! At the moment, there is little movement though, with a demand being met by an equal supply. Ideally, for investment a buyer would hope for more supply which would drive down prices, but a balanced market is also a good sign because that means sales are being met at about asking price. In fact, in Miami, at the moment, most sales are occuring at 3% below asking price, meaning many buyers are getting a good deal. Some numbers:

• Median Sale Price (Miami-Dade): $410.000
• Median Sale Price (Broward): $400.000
• Median Time to Sale (Miami-Dade): 92 Days
• Median Time to Sale (Broward): 73 Days

How Expensive is Real Estate in Miami?

On average, a property in Miami costs $678.000. This is higher than the median sales price, which indicates that there are some extremely expensive homes being sold which are driving this average up.

• Average Price: $678.000

Most Expensive Neighbourhoods in Miami – What is the Richest Neighborhood in Miami?

The most expensive real estate in Miami is found in Miami Beach. This small island makes up a large part of the luxury real estate market. Also popular are the Venetian Islands, manmade islands with some of the east coast’s most exclusive properties. Another area to keep in mind: Fisher Island, another of the famous islands lining Miami’s coral-blue waters. The most expensive neighborhood in Miami is Indian Creek Island. You basically can’t get more high class than this, and may not find it on other lists as these properties won’t be sold over zillow. These are the richest neighborhoods in Miami:

1. Indian Creek Island: $15.000.000 – $47.000.000
2. North Bay Road: $7.500.000 – $45.000.000
3. Star Island: $7.100.000 – $28.000.000
4. Hibiscus Island: $1.200.000 – $14.200.000
5. Venetian Islands: $1.000.000 – $25.700.000

Miami Taxes – Property Taxes, Income Tax

If you live in Miami you’ll likely need to pay taxes here. As it is not one of the USA’s top tax havens, this may also be more expensive than you’d like. Let us take a closer look at tax rates in USA’s most unique state in Florida, and its star Miami. Thinking of buying? Don’t forget the buying real estate taxes.

Miami Tax Rates – Are Taxes High in Miami?

Miami, as it is in Florida, is one of the metropolises, along with Las Vegas, to not have an income tax. This makes it attractive to high earners, who will have to give away less of their income to the state

• Income Tax: 0%
• Sales Tax: 7,0%

Miami Property Tax Rates – Florida Rankings

Miami may not have income tax, but like so often, this is compensated via other forms of tax. This may explain an effective property tax rate which is higher than most other US property tax rates. Compare it to Los Angeles at 0,75% or New York property taxes at 0,86%. Take a look below to see what you need to know about miami property tax rates:

• Avg. US Property Tax – 1,1%
• Avg. Florida Property Tax – 0,94%
• Miami Property Tax – 1,04%
• Miami-Dade County – 0,97%

Want to learn more about property taxes, how they work, and how high they are in Florida, how high they are in Miami?

Florida Property Taxes

Safest Neighborhoods in Miami – Lowest Crime Rates

What are the safest areas in Miami? We’ve taken a look at the crime rates, and found that a few neighborhoods stand out among the rest. The safest area is certainly Brickell Hammock. Take a look at the full ranking below!

1. Brickell Hammock
2. Highland Lakes / Sun Swept Isles
3. SW 136th St / SW 99th Ave
4. SW 127th Ave / SW 56th St
5. SW 54th Ave / SW 80th St
6. SW 102nd Ave / SW 128th St
7. Kendale Blvd / SW 88th St
8. Krome Ave
9. Krome Ave / SW 12Th St
10. SW 42nd St / SW 162nd Ave

Top Miami Neighborhoods – What is the Best Neighborhood to Live in Las Vegas?

We present the most important, hottest, and up-and-coming neighborhoods to keep in mind. They are a mix of hot, up-and-coming artists’ districts, as well as safe bets, luxury neighborhoods, and anywhere else where real estate investment is a good option at the moment. Our top Miami neighborhoods for real estate are:

1. Downtown Miami
2. Coral Gables
3. Little Haiti
4. Bayshore
5. Pinecrest
6. Coconut Grove

Downtown Miami – Tropical Manhattan

Hom to some of the most important finance institutions in the city, this area is also home to Bayfront Park, the InterContinental Hotel, and Bayside Market, so there’s plenty to see. There’s also some of Miami’s famous resstaurants here. Regarding real estate it’s a mixed bag, which makes this all the more attractive. Properties differ heavily in price-to-quality ratios, so you may have to be careful, but there’s tons of diamonds in the rough. There are a lot of alluring properties available. However, you should definitely do some research before committing to purchasing a rental unit in the south.

Coral Gables – The Undeniable Suburbia

Possibly the most prototypical Miami neighborhood, Coral Gables is known worldwide. It is extremely safe, beuatiful, and has beutiful real estate. Of course you can’t say it’s a hidden gem, but it is one of the safest investment options. Miami is growing, and its undeniable perfect neighborhood will become only more desirable with shrinking spaces.

• Median Price: $420.000

Little Haiti – Hip and Trendy Miami

This used to be one of the worst areas in Miami. Over time it has earned a reputation for its vibrant diverse cultural scene, with great food, a completely unique atmosphere, and away from the clean and sterile neighborhoods found on manmade islands across the water. Like Little Havana, you can expect this area to become a future superstar in the city. Median property here costs $373.000, so get it while it’s cheap!

• Median Price: $373.000

Bayshore – Miami’s Best Rental Investment

Some places you want to live, and in some places you want to rent out. Bayshore is where you want to rent out. Buying property here is comparably cheap to the rent that you can get from tenants. At the same time, prices for rent are increasing, while prices to buy are staying steady. Located on Miami Beach, you’re at a great position to get everywhere, and if Miami continues to grow as it has, prices will likely increase in the longterm as well.

Pinecrest – Area for Young Professionals

Pinecrest is a great compromise between the sprawling millionaire homes in Coral Gables or the Venetian Islands, and the rough and trendy of Little Havana or Little Haiti. It has great schools, is safe, and diverse, but it also has good nightlife and has many hip cafes and young professionals. If you’re 32 with a small family and a startup, this is the place to go in Miami, without a doubt.

• Pop.: 19.200

Coconut Grove – Raising a Family in Miami

Coconut Grove is exactly the suburban, family-friendly utopia that the name implies. It is beautiful, with eclectic and attractive architecture, as well as small streets and no highways passing through. The price reflects the quality though. With a median price of $930.000, not everyone will be able to afford it, but to live here is certainly the right decision if you want a quiet suburban home to raise a family.

Der Beitrag Miami: Buy Property! Neighborhoods to Invest – Coral Gables, Little Haiti, Biscayne Bay, Co erschien zuerst auf ℄ Real Estates.