|
03-25-2008, 01:42 PM
|
|
Junior Member
|
|
Join Date: Mar 2008
3 posts, read 2,557 times
Reputation: 11
|
|
investment/retirement property florida
Looking to spend winters in Florida in a couple of years time - so in meantime wnat to buy a property to rent out on a fulltime basis.
Live in Canada - so need some advice please!
|
|
03-25-2008, 03:50 PM
|
|
Senior Member
|
|
Join Date: Aug 2006
Location: Pittsburgh, PA
564 posts, read 397,182 times
Reputation: 264
|
|
|
I can see that you are a first time poster. You owe it to yourself to review some of the older posts on this forum. You will be able to review the thoughts of some very knowledgeable people who will help you to make your decision. The bottom line is that if your hope is to purchase a house or condo with the idea of having the tenant pay most of your associated costs until you retire, the probability is virtually nil. The cost of purchasing the property will carry a higher interest rate as the investor of a home not occupied by owner. The taxes are going to be quite high, as a non-Florida resident. Homeowners insurance will potentially be significantly higher than you may expect. Lastly, the pool of available reliable tenants will shrink considerably when the ratio of wages earned to rents received are assessed.
|
|
03-28-2008, 11:09 AM
|
|
Junior Member
|
|
Join Date: Mar 2008
3 posts, read 2,557 times
Reputation: 11
|
|
|
Thanks retiredcoach for the info I will look at some older posts.
|
|
03-29-2008, 09:47 AM
|
|
Member
|
|
Join Date: Apr 2007
Location: Florida
54 posts, read 77,877 times
Reputation: 15
|
|
Quote:
Originally Posted by JUNIORBECKS
Looking to spend winters in Florida in a couple of years time - so in meantime wnat to buy a property to rent out on a fulltime basis.
Live in Canada - so need some advice please!
|
Biggest item besides the great answer above is who is going to manage your investment property, you at 1500 miles, rental broker that gets commission on first rent payment, realtor that sold you the property, neighbor, or the sheriff doing evictions for you.  |
|
03-29-2008, 10:43 AM
|
|
Real Estate Agent
|
|
Join Date: Dec 2007
Location: North Port
2,917 posts, read 1,983,224 times
Reputation: 498
|
|
|
We have lots of Canadians buying in the North Port/Sarasota area and renting their homes out when they are not using them. Some of the best deals on the SW coast of Florida are in North Port.
|
|
03-30-2008, 09:28 PM
|
|
Member
|
|
Join Date: Jan 2007
57 posts, read 36,233 times
Reputation: 16
|
|
|
We currently have a vacation home in Davenport Florida which has a management company onsite for short term rentals. They do a great job and the area is like a resort atmosphere. If you are interested send a direct message and I can give you some information.
|
|
03-30-2008, 09:32 PM
|
|
Real Estate Agent
|
|
Join Date: Oct 2007
Location: Santa Rosa Beach, Fl
375 posts, read 391,844 times
Reputation: 73
|
|
We've got many snowbirds here along our beautiful beaches ....
Check out our local TDC website for more info on our beaches:
Beaches of South Walton
If you find yourself interested in our area, we'd be happy to help in any way we can .... |
Please register to post and access all features of our very popular forum. It is free and quick.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
|
|
Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 700,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads. 
Linear Mode
