I?ve been asked to invest in a 4 bedroom villa in Florida. I have no idea about this type of thing but wondered what the general feeling towards buying such a property in that area is at the moment. The property would be purchased on a 30 year repayment mortgage and then rented out for 40 weeks a year through a management company who take 30%. Anybody who knows any positives or negatives please chip in.
thanks
Raul

I'd be very cautious if I were you!

A good pal of mine has one of these properties close to Disney, it comes to less than 40 weeks rental per-year which means he has to 'chip-in' a lot of his own cash every month.

A 30 year mortgage means you will be paying about US $1,000 per-month just in interest during the early years......ouch!

Also bear in mind that the US property market is probably at the extreme end of a massive bubble..........do you really want to make a 30 year financial commitment?

Even if you do buy this place, you can't even live in the US for more than 3 months (and I think you are limited to a 6 months maximum per-year anyway).

Best avoided my friend.

Good luck.
Bennett

Florida is a BIG place. It's a bit like saying I have been asked to buy a house in the UK - good idea?

But generally you have missed the boat.

Another big problem with Florida is just how much harder it is to get in after 9-11. It is no fun at all at the airports and that puts return visitors off. Rentals are ten a penny. You can get them for below cost most of the time. Many just sit empty.
Thanks
Lorenzo

My American partner is telling that for the first time in many months the discounts on the properties are halting and properties are going for the asking price. He is understandably cautious and says it is too soon to be certain the market has bottomed out but for the first time in far too long he is optimistic (however cautiously so)
There are areas of Florida where there are still opportunities but most of Florida represents a large gamble.
By far the better bet is Georgia and the Carolinas - properties near the coast and the mountains are good value as are certain golf properties. There are commercial possibilities available for those who are focussed and know exactly what they are looking for.
IMHO the days when someone could come to fla and purchase a villa or condo and have the rent pay for it and the one next door are gone and won't return for many a long year- there is a huge over-supply in Fla. Not so in the other SE states for specialist properties.
BTW Lorenzo is right the USA is a pain to get into and expensive to get to nowadays.

I think Florida is quite helpful floor for property investment. I already searched Florida about real estate business how it can be effective more in future and present situation of business. What processes should follow to get into that....

I see you are part of a large company already operating in several countries of the world including Florida. ........4less being a mere trading name of a large company based in Manchester.
So what is it you're after - New partners in the USA? Talk to me.
Partner in other countries you're not already active in? Talk to me.

You already have experts within your own company so why post here?
Tell us who you are, what you are and what you want and you'll find there are some people here who will be willing to discuss all sorts of ideas with you.
For the ones scratching their heads reading this;
This poster is either a part of or for some reason including the url for ........4less.com
They are a part of a larger organization - Buy property 4 less. In turn a part of Qualter property LTD. Five minutes solves the mystery
So the question bugging me is "WHY THE ATTEMPT AT THE MYSTERY"
As far as I can tell there is nothing negative about the various companies so why not just tell us what you want or what you can offer us little investors on this forum?

Hi teepseller
Actually i am looking for my website promotion and for my sales. Thats why i am doing these type of activities. property investment

Can you provide the solution for my problem plz.......
property investment in UK

The US made another step towards recession with today's data not only showing that property prices have fallen over 15.3 percent in the last year but that business confidence has fallen to a new 16 year low.

US House Prices fell an average of 1.4 percent in April but was better than expected as some US banks were forecasting falls of more than 17 percent. In cities such as Las Vegas and Miami the falls were even greater and showed a fall of more than 27 percent since April 2007. Part of the problem though is the the US Mortgages have almost dried up since the credit crisis.

David Blitzer, chairman of the index committee at Standard and Poors, said: "There might be some regional pockets of improvement, but on an annual basis the overall numbers continue to decline."

The grim outlook was exacerbated by worse-than-expected consumer confidence data which showed that consumer sentiment fell to its lowest level in more than 16 years this month. The Conference Board's confidence index fell to 50.4, the lowest level since February 1992, and down from 58.1 in May.

The US Dollar slid on the numbers and the Pound to US Dollar was last at 1.9690

Full story at The Telegraph

__________________


Damian George

Buy Euros - Best Euro Rates