Question Details

Sanj, Home Buyer in Canada, KY

Where to buy?

Asked by Sanj, Canada, KY Fri Dec 12, 2008

In which area in las vegas could be best place to buy an investment property ( house ) for rental puroses?

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Hi Sanj, Everyone has an opinion. As a Realtor who worked in the Phoenix area, and many years in Southwest Florida as well as the Wasthington Dc area, I can tell you first hand you will not get a better return on you investment. I can have you speak with many investors that can give you there experience. We have Gulf access condos in the low 100’s if not below. You can buy single family pool homes below 75k.We have over 200 miles of Gulf access canals and many of the worlds top ten beaches (lovers key, Sanibel Island, Captiva, we still have celebrites building homes on Captiva! I work with many vacations rental companies and we are booked through March. I’m not saying that this is the place for you, but don’t believe everything you hear. Our area offers something that other declining markets do not. Our homes are still selling sight unseen. If you would like to e-mail me, I will give you the name of a vacation rental company that can tell you the pros and cons of this area. Bill is right, Vacation rental here brings in much more than any yearly rental, and when we come back it will be stronger. I was in the desert homes were not selling for millions they were here. A couple of examples; I have a Gulf front property my investor has over 1.9 mil in, he can not, because of the stock market keep it anymore. The tax value on land is 800k. A Fellow Canadian is under contract to purchase less than 830k. He is over joyed with this, he is bringing 7 more of his friends to buy. I am selling to Canadians living in Qatar they are jumping in. This is where everyone vacations in Florida. Your point about taxes, yes at closing we hold around 25% of your gain for taxes. Once taxes are paid you are refunded any balance; you pay no more. The reason for this is we have so many foreign nationals that own homes here we just make sure the taxes are paid. That is the only difference in purchasing as a US citizen or a foreign national. Because of our economy you can purchase well below 50% or tax value. Homes that went for millions foreclosed on now, picked up for 500k or less. You can actually buy single family homes below 50k. I wish you the best of luck and invite you to consider before jumping in.
Best Wishes,
Nancy Doyle,
http://www.nancydrealtor.com
239-209-2237
nancy.doyle1@comcast.net
0 votes Thank Flag Link Fri Dec 12, 2008
About florida, I am a Canadian and I heard florida is not a "buyer friendly" state for forigners as there is more tax and also your money is "held for long" when you sell. Also one agent told me on 2 bedroom condo in daytona beach of price around 300k gross income yearly is 60k but other agent tells me its only 24K who do I believe..
0 votes Thank Flag Link Fri Dec 12, 2008
Sanj,

Did you consider Southwesr Florida? There are many opportunities for today's buyers and rentals in the right location can bring as much rental income in 5 months rented seasonally as they would for an annual rental.

We would be happy to share our Sarasota County "foreclosure" list with no obligation.

Good luck,
The Eckler Team
Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
0 votes Thank Flag Link Fri Dec 12, 2008
Hello Sanj,
Just to give you something to think about, have you thought about Southwest Florida? We have a great vacation rental market and our prices are incredible .We were featured on MSNBc as one of the best bargin markets to invest in. If you would like more info, give me a call or e-mail.
Best of luck,
Nancy Doyle
nancy.doyle1@comcast.net
239-209-2237
http://www.nancydrealtor.net
0 votes Thank Flag Link Fri Dec 12, 2008
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