We decided to plan an extra day on the Florida of the leg of the trip to go to South Beach. I recently purchased a unit at the “W South Beach” with my friend Henry Nahmad, and this gave us an excuse to go see the unit and check out the AMAZING property.
I made the decision not to purchase anymore real estate two years ago, because I do think the economy and the real estate market is going to see a double dip that could be worse than the first round in 2008. However, I love the Starwood Brand and this property offers a condo hotel program that allows the owner to share the hotel revenue on the unit when I am not using it!
Especially if inflation gets as bad as I think it will this will be a great investment because the purchase price is based on today’s dollar value and the hotel rental rates will increase with inflation.
We got to Miami in the afternoon and hit up my FAVORITE sandwich shop “Sandwicherie.” Henry joined us over at the W and we checked out the pool and the INCREDIBLE property. The lobby ceilings are about 4 stories and the grounds are immaculate.
They even have a bungalow dedicated to my favorite show “Entourage.” We went to the Living Room lounge at the W that night and then hit the actual club at the hotel later in the evening.
It is definitely the place to SEE and BE SEEN right now on South Beach with the cheapest rooms in off season selling for around $500 per night.
Can't wait to share more about the trip!!!
Stay Tuned,
Wes Melcher
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