Canadians looking for an investment property in Florida

Asked by Ilya, Toronto, OH Fri Oct 21, 2011

Hi, We are Canadians who would like to purchase a property in Florida, either Miami (Miami beach) , or St. Pete or Siesta Key areas. We are looking for an investment property (possibly condo?) for around or less than 80K that can be rented out, short or long term rental. In the future we want to use it as vacation home, so has to be close to a beach. Any advice will be appreciated

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Dale Walters,…, , Phoenix, AZ
Fri Nov 25, 2011
I am not a realtor, but a tax advisor. If you still need a realtor, let me know and I can refer one to you in the south Florida area.

There are many issues that must be addressed such as how to own the property. Since you will be renting the property, you may want to own an entity for asset protection reasons. You also have to be concerned about the withholding that may be required and how to file taxes.

I suggest you read "Buying Real Estate in the US - The Concise Guide for Canadians."
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