Ugo Colombo has been one of the most important figures in Miami real estate since the 1980’s. Ugo left his home country of Italy to enroll at the University of Miami and immediately saw the potential Miami had for real estate investment opportunity. Ugo Colombo has gone on to become a pioneer in the development of Miami’s bayfront skyline, re-invented the luxury condo market in the city, and acquired one of the most successful luxury vehicle dealerships in the U.S., The Collection, in 1994.
Fast forward to 2019; many new investors are starting to see and capitalize on the potential that Ugo Colombo saw in Miami real estate back in the 80’s. In fact, Miami ranked 3rd on a recent study from realtor.com highlighting the top 10 U.S. markets for real estate flipping. Many investors are purchasing single-family homes with the intention of renting them out or flipping them for a profit. According to the study, 17 percent of all Miami homes purchased are bought by these investors. With average profit at nearly $67,000, Miami certainly will be a real estate investment hot spot for years to come.