Home Buying in Orlando>Question Details

Richsysonic, Home Buyer in Orlando, FL

Is it beneficial to purchase investment properties in Florida, Orlando area in a company LLC or personally? Uk buyer, cash purchases

Asked by Richsysonic, Orlando, FL Tue Nov 22, 2011

Hi, I am a UK citizen looking to move into the property investment, rental market in Florida, Orlando area. Is it more beneficial to use an LLC or purchase personally. This is going to be a long term investment and all purchases will be with cash with no borrowed money. What are the benefits to using an LLC apart from the obvious fact than it will be seperate from my personal dealing? Also what are the downsides to usng an LLC?

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Answers

16
This is a good question for an attorney who can discuss with you your long-term goals. Once you decide, we Realtors can help you find properties.

Good luck!

Margaret Hassani
Broker, Lightning Realty
Innovation and Experience
(813) 766-1501
Fax (813) 443-0118
zzmarg@gmail.com
http://www.LightningRealtyFL.com
0 votes Thank Flag Link Mon Oct 14, 2013
Hi Rich, I see your question is over two years old now. If you are still following this, what did you end up doing?
0 votes Thank Flag Link Thu Jul 25, 2013
Its a good question.It depends on the volume you have in mind. Regulations govern the answer. Start with a modest portfolio and make constant reviews.I have done it already. Jim.
0 votes Thank Flag Link Thu Jul 25, 2013
A real estate agent cannot answer your question… Before you make this investment you will find it advantageous to talk with an attorney and a certified accountant in order to get your questions answers correctly …Then you can proceed with a real estate agent that will be able to find you a home that will give you a cash flow rental property ….you definitely picked a great area for rental property. All the best
0 votes Thank Flag Link Sat Nov 26, 2011
Hello Rich,

Being a Florida licensed real estate professional I know better than to venture into areas that could make me sound like an attorney. Please seek advise from an attorney and your financial adviser; once you have all your information contact a REALTOR to continue your search for investment property.

Good Luck to you!

Agnes Tabor, REALTOR
Naples, FL
Premiere plus Realty
0 votes Thank Flag Link Wed Nov 23, 2011
Hi Rich,

The down side is the on going accounting costs of the LLC.

The up side is limited liability. If you are buying only one property and have no other significant US assets, then it's probably not worth the hassle. If you are buying 2 or more properties, it's not a bad idea.

Half my clients are foreign investors. I'd love to hear from you. And as everyone else seems to be talking about their time overseas, I'll toss in that I lived in the UK for 6 years.

If you'd like my candid comments, contract me directly.

Cheers, Mark
0 votes Thank Flag Link Wed Nov 23, 2011
Richsysonic,

Actually doesn't make a big difference.

I'm an investor myself from Holland and live here for 13 years now.

Broker/owner of Remax Pros

Feel free to contact me if I can help you out.

hkarman@globalrealty.us

http://www.Remax-Pros-Central-Florida.com
0 votes Thank Flag Link Tue Nov 22, 2011
sorry I did not leave you my direct contact deatil so here they are

Please let me know if I can help you further
Do you or any one you know want to buy or sell real estate or a business in Florida? If so please let me know
http://www.FrontlineFloridaRealty.com
http://www.ShopOrlandoHomes.com
http://AlanMartin.mfr.mlxchange.com/
Best wishes
Alan Martin
Lic. Real Estate and Business Broker
Accredited Luxury Home Specialist
<image001.jpg><image002.png><image003.gif>
8810 Commodity Circle
Unit 36
Orlando Fl
32819

Business hours are 9 a.m. to 5 p.m. Florida time Monday to Friday
Telephone +1 407 832 4888 Fax + 1 877 833 7163
Mobile phone +1 407 832 4888

e mail
please reply to:
alan@FrontlineFloridaRealty.com or
FrontlineFlorida@earthlink.net
0 votes Thank Flag Link Tue Nov 22, 2011
Hello,

I would not make this decision without consulting with an attorny. In general Orlando is a great market for what you have planned. I am a member or the Orlando International Council and would love to help guide you thru this process. Please find the info for a local law office that deals with excactly what you are trying to do below.

Urban Thier Federer & Chinnery
http://www.urbanthier.com
International Law Firm based in Orlando, FL focusing on business law and litigation, immigration, patents and real estate as well as other legal issues.
200 S. ORANGE AVE., SUITE 2025 Orlando, FL 32801
(407) 245-8352


Please contact me at marionthacker@yahoo.com or 321-662-7550.

Regards,

Marion Thacker
Keller Williams Advantage Realty
1750 W. Broadway, Suite 106
Oviedo FL 32765
0 votes Thank Flag Link Tue Nov 22, 2011
Good morning Richy

Even you open an LLC you will still have to submit a pesonal tax return and get an ITIN (International Tax Identitication number). The advantage of the LLC is that it would be a US company.
I work with a number of investors from overseas (I am British myself) and once they dealt with the bureaucracy, they found their investments have been worth itl.
It is without doubt the perfect time to invest in Orlando and surrounding areas for rental and capitalisation purposes. The market is now picking up slightly but it is still possible to find some very good deals.
Please let me know if I can be of further assistance
raquel@orlandorealtyqueen.com
0 votes Thank Flag Link Tue Nov 22, 2011
You would be best speaking with an accountant about the benefits and the protection but then your house insurance will be higher if it is an LLC. I have owners / investors that each way has its advantages it depends on your personal situation.

Julie
First American Real Estate
JulieRents@aol.com
Web Reference: http://www.JulieRents.com
0 votes Thank Flag Link Tue Nov 22, 2011
Please feel free to email me directly, we handle investors from all over including the UK and have our own property management company for our investors, we handle only foreclosures and bank owned homes.

Brad Cempella
Home Pro Properties
407-920-0444
cempella@att.net
http://www.homeproperties.com
0 votes Thank Flag Link Tue Nov 22, 2011
There really is no downside to using an LLC, you are protected personally like you have mentioned, Let me know how I can help you with your purchases, I have been in Central Florida for 25 years, I know the area very well, call me at 407-509-1648 or shoot me an email at Rob.Huth@Realliving.com hope to be of service to help you find investement props..
0 votes Thank Flag Link Tue Nov 22, 2011
Hello Rich;

This greatly depends on your other investments and tax situation.
I can put you in touch with a Tax Expert who is very familiar with this situation.

Call or email me any time at 407-929-9674 or grmnalex@gmail.com

Have a great day.

Alexander

http://www.AlexSellsFlorida.com
0 votes Thank Flag Link Tue Nov 22, 2011
I am from UK too and I have never seen anyone buy in an LLC. It can be an advantage if you are interested in protecting yourself from being suied but there is a carrying cost to maintaing an LLC. it will be a personal decisuion for you to make
0 votes Thank Flag Link Tue Nov 22, 2011
Rich,
Contact n attorney who can advise you on your best options.
Spoke to the attorney below and he would be able o help you.

DON GONZALEZ, P.A.
Attorney At Law
1820 N. Corporate Lakes Blvd.
Suite 201
Weston, FL 33326
954-598-0660

http://www.DonGonzalezPA.us
DonGonzalez@aol.com
Skype: dgonzalez_us_attorney

GOOD LUCK!!

Genevieve Ramachandran
0 votes Thank Flag Link Tue Nov 22, 2011
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