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Leonard Rodr…, Real Estate Pro in 33139

Should i buy an investment property on a lease land? are there any pros/cons to this?

Asked by Leonard Rodriguez, 33139 Fri Mar 16, 2012

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It depends on each particular property situation and set up.
F.e. if it is a condo or a co-op, you have to read their by-laws and other documents.
You have to find out about the terms of the lease (in writing).
There are different ways of holding title also - fee simple or leasehold.
Sometimes returns are bigger on the properties that others ignore because they don't know much about this type of investment. I suggest to work with a good realtor and a good attorney.

Good luck with your search!

Irina Karan
Beachfront Realty, Inc.
305-904-2355
IrinaKaran@gmail.com
0 votes Thank Flag Link Thu Mar 22, 2012
We can't advise you on an investment choice based solely on that information. As an investor, you'll have to determine if the returns on this property is sufficient to justify the extra risks. You won't have to pay property tax but the land owner can change their mind about the use of land at any time.
0 votes Thank Flag Link Fri Mar 16, 2012
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