Saloni Ben-b…, Home Buyer in Outside U.S.

Hi there,I live in the UK,but would like to purchase an investment property in the Miami area..I have seen many on Trulia for about $30k,

Asked by Saloni Ben-belaid, Outside U.S. Wed Jan 30, 2013

I would like to know how I can go about getting a property at this price,any additional costs involved,and finding a rental tenant. Like myself,there are plenty of overseas investors needing guidance on your side of the pond,so any assistance would be greatly appreciated..so firstly,where does one start the process?

Help the community by answering this question:

Answers

8
A property that is listed for $30,000 in Miami, Florida (there are some listed for even $100 as I read in another blog LOL) that could represent a good investment is one the following or all the following:

1. Property is in very very very poor condition.

2. Has numerous code violations and/or fines which are the responsibility of the Buyer to resolve.

3. Competitive list price to generate multiple (higher) offers. A strategy many Asset Managers on Bank Owned properties often use.

4. Property is not a good investment, period.
2 votes Thank Flag Link Thu Jan 31, 2013
Thank you for your inquiry. Hate to be the one to burst your bubble but before setting your sites on $30k properties you see on Trulia.com. I'd first contact a Realtor to establish a working relationship. This is one of the fastest ways to take advantage of any of the few good bargains that may be left still on the market. Second I'd set my purchase price point at a higher yet realistic number. Very few $30k properties on the market in South Florida these days. The ones that do come up investors already have the wheels in motion with money in an escrow account and a Realtor whom they've built a solid relationship who submits an offer immediately w/o hesitation.

Give us a call anytime or send an email. My team can provide the guidance you need.

Andre Shambley
The Andre Shambley Group
Real Living FSR
786-704-8482
1 vote Thank Flag Link Wed Jan 30, 2013
Hello Mr. Ben-Belaid,

Rate of return on regular residential properties is lower near the beaches, and a little higher
away from the beaches, but the costs of maintenance could erase the higher return.

I have a client whose house has been robbed several times within a couple of years that he
was selling it for - not in a good area. Rental returns are great there, but the tenants tend not to pay.

Vacation (short term) rentals are becoming more and more popular - because of their higher
return on investment and better location/potential value increase.
We are talking 8 to 11% return in this case.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
305-904-2355
0 votes Thank Flag Link Tue Feb 19, 2013
I work with many investors and find them properties in all price ranges. Although the $30k price range is very low for our current market, there are still some properties priced in that range, which most likely require repairs.
I have 2 short sale listings - 1 bedroom condos - which will be on the market for $35,000 each. I also own a Property Management company, which specializes in helping absentee owners manage their residential investments in South Florida. We manage both your properties and tenants. This is our website: http://ibispropertymanager.com/

If I can be of any help, please contact me. Good luck!

Ana Ibis Valladares, Realtor, CREOS, CDPE, PPME, TRC
Certified Short Sale and Foreclosure Specialist
Professional Property Manager Executive
Florida Realty of Miami, Inc
Cell # Miami-Dade (305) 525-0120
Email: buynrent@gmail.com
http://anavalladares1.sef.mlxchange.com/
0 votes Thank Flag Link Tue Feb 12, 2013
I work a lot with investors both domestic and foreign and I would gladly assist you with your search. I have a large portfolio of distressed properties both foreclosures and short sales and I would be happy to send you listings as soon as possible.

Please kindly contact me back to my email below.



Best Regards,
Meg Sahdala

Vivienda Miami Real Estate Group
E-mail: meg@viviendarealtors.com
Tel: 305.877.2880
Fax: 305.675.3976
http://www.PerfectFloridaProperties.com
0 votes Thank Flag Link Thu Jan 31, 2013
Thankyou ever so much for your responses and advice. It is greatly appreciated,Saloni.
0 votes Thank Flag Link Thu Jan 31, 2013
Hi,
I would be happy to help and assist you in regards to the Miami real estate investment market. Most of my clients are foreign investors with limited time and in need of guidance during the process. In order to start the process, I could send you information on properties for sale for your consideration.
Give me a call or send me an email. Regards,

Cristina Ziegert
broker/owner
Ziegert International Realty, LLC
http://www.ziirealty.com
cristinamz@yahoo.com
mobile: 786-413-7170
0 votes Thank Flag Link Wed Jan 30, 2013
Hi there, I am actually from the UK myself and as such deal with many foreign investors buying properties in Miami. I would be happy to assist in educating you in regards to the Miami real estate market. For starters you weed be looking at closer to $200K for any stable real estate investment. Your likely return would be anywhere from 3-4.5% (this takes into consideration vacancy period and expenses i.e closing costs, maintenance and housing association charges). You could also anticipate some price appreciation on any purchase you might make in the near future (there are certain areas I would recommend over others) but obviously there is no crystal ball.

If you would like me to send you some listings and fill you in on the Southern Florida property market (i.e. the differences from that of the UK which I operated in for some time) feel free to send me an email.

All the best,

Ricky North
ricky@tcre.us.com
0 votes Thank Flag Link Wed Jan 30, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer