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Investment Properties in Boca Raton : Real Estate Advice

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Activity 7
Thu Aug 10, 2017
Kathy Burgreen answered:
You need to learn that most (if not all) condos and town homes have rental restrictions because lenders require a high owner occupied ratio and a low rental ratio. Lenders refuse to give loans to buyers if there is a high percentage of renters in the complex because lenders own the condo until their loan is paid in full so this is their investment - not yours unless you are paying 100% cash.

Owners who are selling their condo or town home need buyers who will be approved by lenders so if your home is rented, that seller will threaten you to get rid of your tenant so they can easily sell their home. To prevent a war / lawsuits between neighbors, it's much easier and smoother for the HOA to restrict the number of rentals allowed per year.

Your best option - buy a house with no HOA community and rent it out. You need to work with a realtor for this.
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Wed Jan 4, 2017
Jonathan Klurfeld, Esq. answered:
Impossible to say. It will depend what comparable properties in your area are renting for. You would need to do some research
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Thu Jul 7, 2016
nataliee838 asked:
I'm interested in buying a manufactured home in Boca Raton, FL. It would be an investment. Pros and cons please? is finding a tenant difficult for these types of homes in Boca? The…
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Sun Aug 17, 2014
Jennifer Susanne Sommers answered:
Dear Joseph,

It's a case by case basis. It really depends on the price the property was purchased for, location, etc

Best,

Jennifer Susanne Sommers
Luxury Real Estate Specialist and Fine Home Management/Top 5 Producer
Direct – 561-235-7777
Jen@AgentBoca.com
www.AgentBoca.com
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Fri Jul 25, 2014
Pat & Steve Pribisko answered:
This is a question to pose to a local attorney. When becoming an investor, it is important to set up your business in the best way for your needs. This is decision well worth the Attorney's fees. ... more
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Mon Dec 9, 2013
Tom Priester answered:
Arnoldo,

Very little actually. You can enter into a contract with a signature and many buyers, but not all, will want to see your proof of funds. This is simply an investment or banking statement showing you have readily accessible funds to close on the property. When you close on the property you will need the funds in a location where they can easily be wired to the closing agent and along with a photo ID such as a passport you will be good to go.

When it comes to selling a bit more is required as in the US they will withhold 10% of the sale proceeds until proof that any capital gain taxes have been paid to the United States government. Purchasing property is a snap for foreign buyers and they currently account for about 20% of all purchases in Florida.

I have a great town home in one of Palm Beach Counties premier locations that may match up to your needs that you can read about in the link below;

http://www.trulia.com/blog/tompriester/2013/11/stock_market_looking_top_heavy_consider_an_investment_in_paradise

A very clear description of your specific requirements is the best place to start your property search and if I can be of service to you and your family I would appreciate the opportunity to be one of the agents you may choose to interview. We are experts in finding our clients that "needle in the haystack" and would love to help you find yours.

Best of luck and if I can offer anything additional please let me know.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
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