Four years ago, Angel Herrera, 29, together with his brother and father, started investing in properties in Miami during the real estate slump, closing on two $6.6 million deals –- all in cash.
In Venezuela, the Herreras have a food distribution company, among other businesses. But the country’s instability drove them to look elsewhere for investments.
“We were forced to come to Miami because of the security situation and we took advantage of the situation here,” Herrera explains.
The family now owns a total of 62 properties in Miami, including condos, offices, and homes -- and they’re looking to buy more.