Telisamsuri, Home Buyer in New York, NY

I am looking to buy a property in Central Florida under $100,000 usd.

Asked by Telisamsuri, New York, NY Fri Mar 15, 2013

i am looking to buy a property under $100,000...using Canadian home equity. My main concern is to rent it long term and possibly break even with expenses. Any advice is greatly appreciated, thank you!

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Answers

5
T,
I would say one of the most important concerns for you as a foreign national is not where in Florida to buy, or which Realtor to work with.

Your foremost concern If you're considering a purchase of an investment property in Florida should be talking with an attorney who specializes in working with Canadian Buyers to structure their Florida real estate investmentsso as to maximize their profits and minimize their tax liability.

It just seems to me that if you're planning to buy an investment property here, you might as well do everything you can upfront to make it a worthwhile investment. Does that make sense to you?

Anyhow, with that in mind, you might want to read some articles such as the one referenced below, entitled "Are Acquisitions Properly Structured for U.S. Tax Purposes?":

http://www.jdsupra.com/legalnews/tax-structuring-of-foreign-…

Good luck, and if I can be of further help, just click on my picture to contact me.
0 votes Thank Flag Link Fri Mar 22, 2013
I live in central Florida and their are many good buys in my area. Give me a call and we can discuss this.

Myra Jill Barker
352-481-2376
0 votes Thank Flag Link Sat Mar 16, 2013
Telis,
This is the right time to make such a purchase. Rental demand is strong.
The under 100K options will confine your real estate choices to properties that will have tight margins and more likely to have an issue or two.

You will find it essential to commit to a real estate professional so you can benefit from their 'first Look' program. Be wary of engaging in lending situations that will make you noncompetitive. At this price point, the competition will be fierce, being handicapped by your lender is the last thing you need.

Best of success to you,
Annette Lawrence, Broker/Associate
Reamax Realtec Group, Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Sat Mar 16, 2013
Hi Annette,
I've no problem with lenders as I am from Canada. The problem is that my limit is $100K. Thank you for your answer.
Flag Sat Mar 16, 2013
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You really need to at least see the difference in 150,000 to 200,000 properties vs under 100,000.

Contact me to talk about how to minimize payments and reduce out of pocket costs.

1) 100% LTV- VA / (VA Jumbo @ lower ltv)
2) 100% LTV- USDA/12 mo. into Chapter 13 BK…OK Too
3) 99% LTV- FHA / (FHA to 580 score @ lower ltv)

4) 97% LTV- No monthly MI-No FHA 1.75% Fee
5) 95% LTV- CONDO
6) 90% LTV- No PMI -2nd Home
7) 90% LTV- JUMBO w/cc
8) 85% LTV- No PMI - Super Jumbo
9) 80% LTV- Invest./Rental
10) 75% LTV- Foreign Nationals

--------STATED INCOME ALT up to Super Jumbo-----------
http://www.StatedIncomeALT.com
11) 80% LTV- FIX n’ FLIP Invest. Prop.
12) 75% LTV- Foreign Nationals
13) 75% CLTV- Short Sale, BK, Foreclosure Forgiveness
14) 70% LTV- Soft and Hard Money
15) LOT/VACANT LAND LOANS
16) COMMERCIAL PROGRAMS-available nationwide

Go to: http://WWW.PRO-OPTION-COM or call 888-662-4404

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
#204296

Prior Service U.S. Marine Corps
====
0 votes Thank Flag Link Sat Mar 16, 2013
Hello Telisamsuri:

I live and work in South Florfida and we have great investment areas, specially around Universities where you get unlimeted supply of students as tenants. Call me and we will discuss.
0 votes Thank Flag Link Fri Mar 15, 2013
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