Home Buying in Orlando>Question Details

Memon, Home Buyer in Orlando, FL

i want to buy a house/apartment on cash price range $65k to $70K. I am a foriegn investor and want to then rent out the property.

Asked by Memon, Orlando, FL Tue Dec 31, 2013

Need as much details I can especially on all the taxes and charges which I need to keep in mind. Will be in Orlando by Mid Jan.

Help the community by answering this question:

Answers

11
Hi Memom:

Aside being a Realtor I am also an investor myself and would be happy to help you find a great home. I hake a lot of international clients that purchased investment homes here (feel free to review my recommendations and background by clicking on my picture).

Realistically between $65K to $70K price range you would be better off to look into cities like Davenport, Kissimmee, Clermont. These are attached to Orlando, you could expect more or less same rents in these areas but the homes are more affordable, taxes are often cheaper too. Just to give you an idea below is the link to some homes within your requirements:

http://abidhendi.orlandopropertiesonline.com/listings/areas/33894…

Hope this helps and please feel free to send me an email so we can discuss your needs and set up showings for the time you will be here.

Abraham Bidhendi
Top Producer Realtor® with over 26 years of experience
Awarded as Exit's TOP Buyer side Transactions for the State of Florida
Exit Realty Access, LLC
Direct: (407) 744-2533
Fax: (407) 444-9925
Email: REOsofflorida@msn.com
Search Entire MLS At: http://abidhendi.orlandopropertiesonline.com/search
Kissimmee Office: 391 N. Main St., Kissimmee, FL 34741
Altamonte Springs Office: 660 Palm Springs Dr., Suite D, Altamonte Springs, FL 32701
0 votes Thank Flag Link Thu Jan 2, 2014
I am a foreign investor too. I have 9 condos that I have purchased over the past 3-4 years. . you will not get much for $70kn these days , and what you can get is probably not worth having. I you would like from someone who has done what you want to do then please get in touch. alan@frontlinefloridarealty.com
0 votes Thank Flag Link Tue Dec 31, 2013
Hello Memon,

I think we have a property that you may be interested in reviewing.

It fits your Price range and it is centrally located, Has been completely remolded and I think would be a great investment property .

Here is a link with property information.
http://=www.trulia.com%2Fproperty%2F3140987499-2623-Oak-Park-Way-Or… target="_blank" rel="nofollow">http://www.trulia.com/property/3140987499-2623-Oak-Park-Way-…




Please feel free to contact me at opticaltester@gmail.com

Regards
Art
12392096182
0 votes Thank Flag Link Tue Dec 31, 2013
Memon,

There are inventories available, but to be honest, this price range can only get you to a certain areas, but not much. With this price range, your best option will be an income producing property which can generate around 9-10% annual return. On top of the purchase price, you will need an average of $10,000 for the repairs. Because of the older homes, you will need to set aside an escrow for the repairs down the road like a broken ac, appliances, water leak, electrical issues etc.... Any of the agents on this website is capable of assisting you to purchase a home with this budget.

When you purchase with cash, the only thing you will need to pay is the title company fee and occasionally, doc stamps for the homes owned by Fannie Mae, Freddie Mac and/or HUD homes. The only different between foreign investor and US residents is that when you sell. Buyer/title company will need to keep 10% of the selling price and report to IRS. You would need to pay all of the taxes and they will return this 10% back to you. However, I am not an accountant. You will need to contact a local accountant for your tax advise on yearly income and sell.

Please do not hesitate if you have additional question.

TN-Trung Nguyen
Real Estate Professional
La Rosa Realty LLC.,
Licensed in FL
tnguyen@larosarealty.com
Cell: 321.946.1403
0 votes Thank Flag Link Tue Dec 31, 2013
Hello Memon,

I would be happy to help you grow your investment portfolio. I work with many foreign investors that are looking to grow there net wealth in the USA just like you. I have a extensive background in investment that gives me a broader understanding of the real estate market which allows me to generate a high ROI then most agents practicing real estate. Also I have a great Property Management group that works with all my investor and has a proven track record of a high occupancy rate.

Regards

Phillip R Freeman
Keller Williams Classic II
407.450.4479
listingtime1@gmail.com
0 votes Thank Flag Link Tue Dec 31, 2013
Hi Memon,

Yes, there are still 100's of properties available this cheap, but they will likely be older wood frame construction with maintenance issues, so be very careful, get a good inspector, and ask a lot of questions. You may not be aware that the recession ended a long tine ago in Orlando. The bottom was three years ago. Since then prices are up more than 50% and at the bargain end some places have doubled or more.

Good luck.
0 votes Thank Flag Link Tue Dec 31, 2013
Memon,

Surely, here, you will find a lot of realtors who can help you.
Unlike other countries, here you only need to make a decision and choose a realtor that you can feel has the skills and knowledge to get the right property for your target.
I candidate myself to help you, because, I am confident that I have the necessary experience.
I can communicate in English, Portugues and Español.
Cordially

Odair Magalhaes
odair@cfl.rr.com
0 votes Thank Flag Link Tue Dec 31, 2013
Hello Memon,

I would be happy to help you grow your investment portfolio. I work with many foreign investors that are looking to grow there net wealth in the USA just like you. I have a extensive background in investment that gives me a broader understanding of the real estate market which allows me to generate a high ROI then most agents practicing real estate. Also I have a great Property Management group that works with all my investor and has a proven track record of a high occupancy rate.

Regards

Phillip R Freeman
Keller Williams Classic II
407.450.4479
listingtime1@gmail.com
0 votes Thank Flag Link Tue Dec 31, 2013
Everyone here will want to help. I am from Europe and I buy and sell personally. pleas get in touch.

407-234-5585 or contact me from here.
0 votes Thank Flag Link Tue Dec 31, 2013
Hi Memon,

I can help you find an investment property and help you rent it out. I work with several investors including foreign investors. I also am in investor so I understand the other side of the business.

I have an excellent property manager that rents and manages my rental properties as well as my investors properties.

Please contact me directly for more information. I look forward to working with you.


Beth Park

Realtor, A-Team Relocation Specialist

Century 21 Carioti

1650 Sand Lake Rd. #107

Orlando FL. 32809

Cell: 407-267-8834

Home Fax: 407-914-2050

d.bethpark@gmail.com

http://www.dbethpark.com
0 votes Thank Flag Link Tue Dec 31, 2013
Hi Memon, there will be lots of agent here who will be able to help you. I work with a lot of investors from around the world on these types of property. There are many questions you will need answered, a lot of them will be specific to you and are best done via emails and phone calls, and then finally when you are here in person. If you would like to take things further drop me an email to deanking@iris-int.com
0 votes Thank Flag Link Tue Dec 31, 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