How easy is it for a foreigner to buy a vacation condo to use and rent out, any areas recommended?

Asked by Pmlsmr, Largo, FL Thu Jun 28, 2012

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Annette Law…, Agent, Palm Harbor, FL
Thu Jun 28, 2012
BEST ANSWER
Of course, when the objective is to rent out, the best location will be as close to the beaches as possible. These locations experience better than average value retention and quite easily rent on a short term basis.

Your options will be determined by your price point.
it is easier for foreign buyers to acquire financing that for domestic buyers.

What you need to do is contact one of the agents responding to your question and discuss your purchase objectives. You will find it beneficial to look at a few available properties. Contrary to what you may have read or heard, there is real estate for sale in Florida, but it is no longer "'On Sale."

Best of success in acquiring your Florida real estate.
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, Fl
727.420.4041
Questions? Get answers.
Chat on: http://www.FloridaRealEstateMadeEASY.com
0 votes
keyspoet27, , Largo, FL
Mon Oct 1, 2012
Having lived in Pinellas County for nearly thirty years, your best bets as said before will be on or near the beach, anywhere from Clearwater Beach down to Treasure Island. Actually, you could go down to St. Pete Beach and Pass-a-Grille and do well, but you did specify Largo or Clearwater, and Treasure Island is still relatively close. The Treasure Island Yacht Club and Pasadena Yacht and Tennis Club occasionally have people selling condos at good prices, and obviously, the amenities mean that renting such condos is easier than those without such amenities.

Complexes for those over 55 years in age is a selling point for some, and a complete turn-off for others, so it all depends upon your own age, point of view and lifestyle. 55-and-over communities tend to be safer and quieter, but also tend to have stricter requirements for renters, and the condo association fees and restrictions can be onerous, so do your homework to make sure that they meet your requirements before you purchase. A couple of nice 55+ communities not on the beach, but still in demand, include Top of the World in Clearwater, and either Five Towns or Seminole Garden Apartments in Seminole (next to Largo).

Shipwatch in Largo, right across the Intercoastal Waterway from Indian Rocks Beach, is another very nice choice. Keep in mind, however, that property insurance will be considerably higher for condos on the water, and there is a large selection of condo communities throughout Pinellas County that offer really nice amenities, and none are more than fifteen to twenty minutes from the area beaches.

I thought you might appreciate the opinion of someone who is NOT a real estate agent or broker. Good luck with your property search. ;-)
0 votes
Tom Shelly, Agent, Saint Petersburg, FL
Thu Jun 28, 2012
It is easy for anyone to buy a Vacation Condo that will rent out. The area really depends on the price range and long term plans for the Home. Price are low right now whether you want to buy in Dunedin, St Pete, Clearwater Beach or somewhere in between.


Please let me know of any questions or suggestions. Best Regards,
Tom Shelly
Broker / Realtor
Sunshine Home Sales & Commercial Brokerage
3831 Tyrone Blvd, Suite 104
St. Petersburg, FL. 33709
Phone: (727) 384-4300
TomS@SunshineGroupProperties.com
http://www.sunshinegroupproperties.com/
0 votes
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Thu Jun 28, 2012
You'll need at least 30% down.

see loan programs at http://www.pro-option.com
0 votes
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