There are several alternatives that you could pursue. Investing in rental property is of course one. Others are owning a small business enterprise. I would be happy to discuss your goals and how I could help you realize them. At your convenience, please give me a call.
James Mulligan, Broker / Owner
Suncoasteam Realty, LLC
Po Box 380503
Murdock, FL 33938
Have you considered an EB5 visa? If you have 1 million cash to invest, it may be smarter to start with one of those programs, and after you establish income, buy a house in the United States. I would be happy to connect you to an expert in such issues.
Venice is a lovely place to live and raise a family - my mother has lived there for the past 10 years.
Feel free to give me a call.
I trust that since you have decided on Venice, FL you have researched the area. I live in Punta Gorda, not too far off and I love it here. My husband & I are both from India.
Sachin what exactly are you looking for? As I understand, you would like to buy a home for yourself to live and other properties from which you can get an income. Is that correct? Call or email me and we will go through what you wants & needs are and find something that fits your needs perfectly.
I look forward to hearing from you.
I suggest using part of your money to buy a nice home for you and your family. There are many options in the Venice and Englewood areas up to the mid $250,000 range, with private pool, for your personal use. You could use the rest of your funds to purchase income producing property.
Income producing properties are homes and condos starting around $80,000. Rental demand here is high, and many of my investor clients have had good success finding tenants quickly. You can expect monthly rent starting about $800 for an annual tenant and up. Pursuing this type of strategy of buying several entry and mid level properties can net you a healthy monthly income.
Single family homes are my recommendation versus condos, which you can read more about on my blog: homesinsarasota.blogspot.com
Some of my clients form a limited liability company (LLC) when buying investment properties. I can refer you to a real estate attorney who can help you decide which is best for your situation.
I invite you to visit my website to learn more about real estate in our area: http://www.davidbarrhomes.com/buyers and about investment properties: http://www.davidbarrhomes.com/investors
I look forward to the opportunity to help you create a profitable property portfolio.
David Barr, Broker Associate
Allison James Homes & Estates
Congratulations on deciding to move your family to Venice. It is a lovely area to raise your children. I lived there for several years.
There are many business opportunities in which you could invest and make a comfortable income to support your family. Are you thinking you want to purchase and run a business? If so, then the main question would be "What is it that you want to do and interests you"? I could send you a list of businesses currently for sale to give you an idea of what is available.
As you probably know, coming from another country you will need consult with an attorney to obtain necessary visas and permits. I would be happy to provide you with the contact information for a few local attorneys.
Please let me know how I can be of assistance to you - and we look forward to welcoming you as new residents of the U.S.!
Ron and Susan Noce, Realtors
Standing by to help,
Venice Real Estate Company
Copy & paste this link to search the Mid Florida Regional MLS
Don't count on appreciation. With the market the way it is right now, appreciation is not a guarantee. When looking at homes, you want to purchase a home that would have an attractive resale value no matter what the market is like. Obviously you would like to make a profit if you did resell.
If you decide to rent the property, it is necessary to make sure your rental income will cover your out of pocket expenses such as the mortgage payment, taxes, insurance, maintenance, repairs and vacancy rate. Check with local rental agencies or call rental ads to see what the going rental rate is within the areas you are looking to purchase a property.
Try an investment calculator such as the one at goodmortage.com. Go to their web site: http://www.goodmortgage.com/Calculators/Investment_Property.html. This will give you a good idea of the financial situation if you decide to rent an investment property.
There are tax benefits in any real estate investment whether it be rental homes, apartments, vacant land, commercial buildings, industrial, shopping centers, or warehouses. Check with your local tax advisor before entering into a purchase agreement for any investment property to make sure you qualify and follow the strict requirements.
If I can answer any questions or help in any way, please contact me.
Tammy Hayes, Realtor
Green Lion Realty