Toronto Escorts

Property in Florida?

blueflame

Member
Dec 5, 2009
128
0
18
Was wondering if anyone here owned some property down south. Was hoping you could shed some light and share some experiences about it. I've been thinking of buying a house down there as they are cheap right now. Its more of an investment as I dont plan on living there for maybe more than 1 month out of the year. I'm too young to retire so I'd hire a property manager to rent it out and what not. Is it difficult for Canadians to buy property there? are there any extra fees we might have to pay opposed to american citizens?

enlighten me

cheers
 

eldoguy

New member
Oct 27, 2006
4,133
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0
Toronto
Hurricane insurance is outrageous, if you make a profit in reselling you must purchase again an other property at a higher value with the profits. Or you are subject to hudge capital tax gain. Americans can deduct mortgage interest against there annual income. Owned property in Florida. In 25 yrs, saw real estate mabey doubled in value twice.
 

LateComer

Better Late than Never
Nov 8, 2002
1,754
3
38
Non-residents who own Florida real estate pay much higher property taxes than local residents. Other states such as Arizona have no such disparity.
 

junior dude

Member
Jun 16, 2008
30
1
8
speaking as a current condo owner,,,,,,,,,,,don't. Mine hasn't been rented for two years. Bills and more bills.
For canadians, a 35% downpayment required, this was four years a go when i bought.
you will be heavily taxed when reselling as of january 2009.
Trust me, not worth the stress. stess kills.
feel free to contact me for more info.
 

blueflame

Member
Dec 5, 2009
128
0
18
the down payment isnt the problem as i will just buy the house outright
its the taxes that worry me along with trying to resell it down the line
 
Do you mean the taxes once you sell the property?
If so, find yourself an accountant that has a very good understanding of tax laws in the USA.
It's better to be informed than have the IRS pinching your pockets.
There are allot of good points here.

I've bought two homes in Miami. I'm in a little different boat as I paid for the homes in full, so the bank doesn't have their claws on it. Also since my wife is an hold dual citizenship (American and Canadian) and her fathers is American and his corporation is here also I have an extra edge in my pocket. I go agree with lust for life, you must get a good attorney and accountant to pursue investments here in America.
 
Ashley Madison
Toronto Escorts