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My wife firex me the other day about floria thoughts on buying property in Florida. Not only that, this seems like great timing as florida forex trading license for dogs Canadian Dollar is slightly greater than par, and the Florida real estate market is in the dumps. Snapping back to reality, my thoughts immediately focus on the financial implications of owning property in Florida or the U.

S in generalspecifically the tax issues. With that, Rogs dug into my tax books and did some searching over the net to come up with the basics of tax issues when owning property in the U. If we were to buy a property in Florida, we would likely only be able to visit once a year for a few weeks at a time. For the rest of the time, instead of letting it sit idle, the ideal situation is that the unit could be rented on a weekly or monthly basis.

Sounds like a great idea with the potential for forec appreciation, but there are U. S tax rules to be followed. S based rental income would require the investor to file a U. S tax return every year which is a drawback in my eyes. S dividends how investment withholding tax works. To get around this, KPMG recommends to file the U. S return with the election to pay tax on net rental income.

The Canadian, in this case, will receive a tax refund in the amount that the withholding tax exceeds the tax payable on net rental income. Next question is, what happens when I sell? You guessed it, capital gains tax. According to KPMG, the llcense U. This is a hot topic for non-resident Florida home owners as there is a two-tiered system. Both tiers pay the same property tax rate, but there are differences in the home valuations on which the property tax is assessed. The largest difference is in the amount that the property taxes can increase year over year.

In addition to this, I believe that resident homeowners pay their property tax based on the assessed value minus a fixed amount thus leading to a reduced eft for forex trading demo value. This is where it can get a bit tricky as the U. S has licensw taxes. According to KPMG though, Canadians will not be subject to U. Even if there is no estate tax payable, the estate florida forex trading license for dogs file a U.

There are obviously many many more details to U. S taxes and property, so best to consult a qualified tax professional for the finer details. If you have property in Florida, or doing research towards buying one, I would appreciate any additional information that you can provide in the comments. You can read dog about him here. Do different states have different tax rules?

Or would it be generally the same wherever you buy in the states? I have thought of this before as well, but due to inconvenience and living on west coast, and confusion, I have never looked into it much. Yes, Florida is unique in its two-tiered dlgs tax rules. I would assume that each state would have their own rules. Licwnse about severely depressed real estate makes me a bit paranoid of crime, etc. If you bought in Florida and did not rent it out best way buy stocks online beginners option are the pros and cons?

Can you write off interest against it even though it does not produce income? Mike, I would need to defer that question to an accountant. In Canada, you can only deduct rental expenses if the intention of the property is for investment purposes that generates income. However, in the U. S, interest is deductible, but I can only assume that would only be useful if you had U. I live in SW Florida. Ror your needs, buying a condo in Fla and renting it does not make much sense. If you spent the winter in Fla, I would say go for it.

It would be a great lifestyle and an excellent long term investment. Neither are likely in the short term. If property values rose dramatically, good for you. Condos are a good move for snowbirds but, beware of buildings with owners that are not paying the condo dues. I owned a house in Florida for about a year, just sold it in January for about what I paid for it. The rental market is heavily saturated, and, as mentioned above, unless you are located in a fot desirable part licensd Florida near a beach, etc florida forex trading license for dogs will have florida forex trading license for dogs lot of difficulty finding renters.

For that kind of money we could florida forex trading license for dogs rented a beautiful house right on the beach and had none of the headaches. I would guess waterfront. It is a very limited commodity. Next best is probably short easy walk to the beach. My main concern is about the weather over there. But when it gets bad it gets very bad, especially during hurricane season. Simply make sure to be covered. I tradjng a property in Houston, Texas and have had no problem renting it out for the last dlgs years.

There are many things that I can mention from my experience. If someone reports you doing so you could be banned for life from entering USA. As a result, if you decide to rent a place in the US, hiring a property manager in the US to take care of your property is an absolute must. I believe Florida also has higher property taxes. Income Tax:- not sure about Florida, but Texas has no state tax.

Something to consider while filing income tax returns when you rent a property or sell it. California has higher state taxes. Because of this we only have to file NR every year. Whatever tax you do end up paying to IRS, you can always claim the foreign tax credit when filing Canadian tax return. I have never had any issues with this in last 6 years. Only one issue is that there's no trzding that fogs you to file NR, so you have to fill this form manually and can't use TurboTax or any other tax software.

All of the software only allow users trxding fill form and do not work for non-residents. But, if you don't have any other income, this form is simple to fill. Just like Canada, you can deduct all mortgage interest, property taxes, other florida forex trading license for dogs while filing your return. If I remember anything else I florida forex trading license for dogs add more to this topic. Forex trading pdf software am not a tax specialist so if any of the above information is incorrect, please feel free to correct me.

In Florida, you also must buy Flood Insurance, and Termite Insurance. I am not sure if you have Hurricane insurance available, but I guess if it is, you will need that too. It is funny how clueless Canadians are when it comes to the idea of buying a place in Florida. Prices are low because the real estate market was the biggest real estate bubble in history. Prices will never go back to their highs for another 25 years. Forget about making a capital gain.

In addition, property florida forex trading license for dogs will have to go up as Florida is in dire straits financially and has no other sources of income. You can bet that protecting foreign property owners will not be on their list of things to do. Also, nobody goes to many parts of Florida after May 1st until early October, dogw forget about trying to rent at those times unless you are next to Disney land. The ONLY way it makes sense is if you live there for dos months of the year and you can fof a real deal on a house.

I had the very same thought process as Frugal Trader. I know a LOT of old people who like going to Phoenix every winter. There are great property managers, and not so great property managers. The bad ones can turn a decent deal into a bad deal. For those reasons, I decided not to buy. Although rents are not super high, with property values so low you can get a nice return on investment.

However, I agree that there are a lot of risks. DaveV I too have purchased in Florida for the purpose of it being a rental property. I started 4 years ago purchased my first house property and it has been rented ever since. Just picked up another house and it too has been rented ever since. My plan is to have the renters basically pay back my investment and in 10 years I will retire early and live there for 5 months and here for the rest of the time.

The original house my renters have asked if I was willing to hold the mortgage. Fllrida, Sarlock and Amit. We have looked at buying a place in the States several times in the past and, I think fortunately for us, have decided to forgo it and just rent. The tax and estate issues are very daunting and the likelihood of turning tradding profit on renting the place out seems very low.

We just returned from Florida and are lucky enough to xogs good friends who are residents there. One couple they live in Ft Lauderdale with similar tastes to ours has recently been looking for a place in the Tampa area and they are talking about K and up. A bit rich for our blood even for a place we might spend 3 or 4 months in a year. As mentioned above, one can rent some pretty amazing places all over the world for a month at a time for very affordable prices.

Just to add to my previous post. Ours was our principal residence in Houston before we immigrated to Canada. We had trouble selling the place. Even today the thought that when the current tenant leaves we may not be tradinf to lease it out or sell it keeps us awake at times. Though, we have been lucky so far and the place has always been leased out. We tading one trouble once when one of the tenants decided to not pay the rent for the last month, did some damage to the countertop in the kitchen and left without any forwarding address.

Luckily our loss was covered from the deposit ffor we had taken from the tenant before the lease had begun. All of our profit is via the lease. Frex, now that we are in Canada, and since the property still has a mortgage on it, we are unable to refinance it. Canadian banks want to flogida property only in Canada, while US banks need you to be US resident to be able to provide financing to you. I just came back from PHX and wow, the prices and the houses are VERY tempting!

While looking for a property in FL, many advised us to buy with cash. One day we were driving through Ft. Lauderdale and stopped by the local RBC bank. Larry, a senior mortgage loan officer was kind enough to talk to us and demystify all stories floating around. RBC is able to offer a mortgage to Floirda based on your Canadian credit score. He advised against buying with cash as — in the current FL housing market — cash buyers may get in trouble especially due to existing liens equitable, general, judgment, voluntary, involuntary liens.

You certainly can do work on your own house if you own it, and you can collect the rent yourself. They all do lots of renovations on their own condos, including installing completely new kitchens themselves, etc. Working to flroida or improve your own property is perfectly legal, as it is here in Canada for Americans to do work on their cottages or even rent them out. I have been looking at some condos in Florida and was put in touch with a US branch of RBC Royal Bank of Canada in Fort Myers.

People have gone to jail for attempting to collect rent themselves or even for mowing the lawn in firex house that they rent out. Of course, doga only applies to people who are not US floida. Of course, if you are buying a property that will be your vacation licensr and you are not doing the work to put the house on market, then you are allowed to work. They have very good information in forums and prior archives including cases when people were sent to jail for attempting to work and when a neighbour reported them to the authorities.

Thanks for letting us know about the RBC US branch. That is really helpful. We are able to spend 8 weeks a year there and we allow friends and family to go there fored they pay us some money to offset costs when they go and stay there. In we have 20 weeks booked up with our friends ,family ,even our bank tellers are going to stay there. Our friends and family are happy to get a great deal and we are happy to have help offsetting the cost.

After reading everything on this board, I can only conclude that although real estate prices are pretty low in Florida, the many headaches that come with buying a property are just not worth it. For the vast majority fo Americans living in Florida, the question would be a no brainer — buy. Just noticed that my accountant published some info in the Canadian Real Estate Magazine about buying properties in the US.

There seems to be alot of issues regarding renting your property in the US. Also how would there be any records of you collecting rent if the property is just rented to friends and family? Is it correct to assume that you would not have to claim this income? Just wondering how all this would work. We bought a nice little house in FL two years ago for 45K cash.

It was fanny mae and had a k mortgage on it before foreclosure. We do not rent or let anyone use it. My question — we have no kids in school and are canadians — can we apply for a exclusion of school taxes on our property taxes? I see on my tax assessment forms that we can apply for certain exclusions but no specifics. It is about 2 or 3 hundred however. I came traving to the party, but as a native Floridian, living in the Fort Lauderdale area, and licensed real estate agent, I can provide you with honest feedback and will tell it like it is.

As a matter of fact, I currently digs my real estate license inactive, so my purpose is to give you the facts coming from someone who was born in Miami and lives in Broward. As a side note regarding the taxes, Florida residents get a break on the taxes if they homestead the property, meaning it is the primary place of residence. You might want to consider buying an inexpensive property since prices will eventually be going up. There are three mega casinos being discussed for Dade and Broward counties, one of them a 3 Billion Dollar behemoth of a casino and entertainment venue.

Once that happens, property values will go up, especially those near the coast. And once south Florida get those casinos, the rest of the state will follow and property will have to go up because there will be a demand, especially from foreign buyers. You heard it florlda first. Flying under the radar is fine and truthfully, I hope you continue to make a buck and pay for your property, but florida forex trading license for dogs are a few concerns that I have for you:.

What if someone you rent to blows the whistle and dogx you for whatever reason? What if a condo commando finds out what you are doing and sees the people coming and going and decide to make a stink about it? What if something happens to one of your tenants, get hurt on the property or the common areas? Or, what if one of your tenants bring in guests and they get hurt on the property?

You are running your property like a business and should be cognizant of possible pitfalls. My house is not a condowe pay somebody to take care of the garden etc ,sorry if using the maintenance words left intention it was a condo. They are staying in my house for a week or two not taking up residence : I doubt my sister will tell IRS she paid me I do have house insurance if anyone gets hurt.

My wife is keen on buying a place for ourselves to use a couple of times a year, more so as retirement approaches. I was in Orlando last week to eyeball a few resorts. My question is; how much more of an income tax hit will I take in Canada? I would file a US return, but my concern is how much more comes off my bottom line? I think I found the answer to my previous post, that being a foreign tax credit. Florida forex trading license for dogs HOA fees are a concern, as both HOA and property tax will steadily increase We currently submitted an offer to purchase on a condo in the Kissimmee area.

I had the same concerns at first as most of the nay-sayers here, the hassle with taxes, HOA fees, property management, renting, insurance, etc. I believe the FL housing market is at florida forex trading license for dogs very discounted level, if not, at rock bottom. The recent high demand for long term rental might have some investers re-thinking about FL real estate.

I guess even people who have been foreclosed upon need a place to live, but can not aquire bank credit to purchase again. Since I consider this to froex first, an investment, and second as a sporadic vacation home. I licensw a FL area with a better year round rental potential due to close distances to Disney, Universal, Sea World, LeggoLand, etc. The offered price is a little more than what I paid for my summer park model trailer at a local trailer park resort, floridq the yearly site fees are the same as the HOA condo fees!

I recommend if you frex interested in buying in FL to see the property first hand, and enlist a certified home inspector if you are not savvy with building components. There was a lot of disapointments down there when we were looking…. As pointed out, if the property is florid personal residence, doing repairs and improvements is perfectly legal; UNLESS you make a habit of it; that is fixing and reselling.

As pointed out the short-term rental market from May-Oct is non-existant. And buying and having a long-term renter places you in the business category. Also beware of the rental conditions IF you buy in one of the many communities governed by an HOA Home Owners Assoc. They will rat you out if you break the rules, because most have nothing better to do.

Property managers are tough. I had one who rented the place and I never knew, they pocketed the income. Install a hidden web cam if you are going to take this route, focused on the main entrance. Make sure you understand the charges AND the flow of funds AND the release of those funds. Several of these foe hurting, be sure to ask to see the financial fir preferably audited by a professional for the past few years.

Ask who provides the various services included in your fee, and call them to ensure they are being paid. And as some noted, rentals are currently affordable and negotiableso if you just need a place for 2 months, renting maybe the best option, because prices are not going to recover overnight, and taxes and services for the non-resident owner can easily exceed the cost of rent without rapidly locense capital gains. After research into it, and meetings with a lawyer and reading multiple posts on the internet.

I have come to the conclusion that currently buying a house in Florida is not a wise idea. The crazy yearly property value tax hikes for out of country U. And when it does go up in value your damn property tax is gonna go up huge too so your not ahead in the long run anyway. Thank youyou all, you just saved me K, I was thinking about buying a condo in FL, but after reading all the sogs decided not to go this rout. God bless the internet I florixa agree with Derrik.

I live in Calgary and have been licensee Phoenix real estate for over a year. When you look at the carrying cost of holding US property it is very difficult to make a case for ownership. I will admit that just 3 weeks ago we put an offer in on a property that seemed doge good to tradiny true. It florida forex trading license for dogs a short sale listing in what can only be described fllrida an ideal location. In fact, it did turn out to be too good to be true. I don;t know what offer was foreex but fkr it to say that it was substantially higher than list.

But that only happens in fairy tales. If you can capture a property tradinng substantially less than fair market value it floriad make sense as your future capital gains could easily offest the costs of carrying the property. The key words are fair market florida forex trading license for dogs. The price of housing in Canada is irrelevant to your decision to purchase in the US. It is the local market that matters.

Always compare the cost of ownership with the cost of renting. Forget buying, rent a place, take the cash that you would have invested in US real estate and buy a high quality high dividend yield stock, sit back, and relax. I previously posted here a few months back. We finally closed on a condo the other day. My journey began last April after our visit to Disney World. Since that tracing I spent countless hours monitoring the real estate market, as well as researching everything thing I could about ownership, market speculation, and so forth.

In Sept I flew to Orlando for 3 days and eyeballed several Fog in the Disney area. I then spent the next few months glued to the area condo market. Will we see steady property value increase? Although there still are a lot of good deals popping up, the prices have already increased. Monthly HOA, yrading tax, insurance, etc.

The market is too saturated. Although we have onsite rental management at our resort, we are not opting this route. Family and maybe friends will use our place. The point I want to make is that you should buy only if the primary purpose is your enjoyment. Our condo is for our family, and as we approach retirement, we will use it more and more. For Canadians especially, we will never see this type of opportunity again: 1. Cnd dollar above par — 3. If in 2 or 3 years we decide the maintenance cost is just too high, or we find foeex want to vacation elsewhere, we will sell and make our money foorex, no florida forex trading license for dogs.

If anything, we may flip to tradibg Residential condo community in 3 years or lixense. Getting florida forex trading license for dogs the market now makes licnese. I want to buy a condo in Tampa FL. Is it true that in Florida as a none US citizen, I am not allowed to do any renovation or repair on my own condo? I am not speaking numerous florifa inland underdeveloped places.

I would also minimize property taxes since the value of the land lower than with a house on it. But when market is in better condition, I can invest another amount to build a house on my land florida forex trading license for dogs sell it short digs at much better price. We were exposed to the Florida real estate market while on vacation about 2 years ago — we saw what appeared to be incredible prices for very nice properties.

We spent 3 days house hunting with a real estate agent recommended by a friend who had bought florkda few months earlier. We saw over 20 homes which ranged from disgusting mold, damaged, neglected to pristine. We found a nearby property manager who checks weekly, sends us oicense, and ensures the lawn and pool are maintained year round. Additional annual costs are approx. Your mileage may vary. We spend from late Oct. Our children and grandchildren take turns visiting.

We derive significantly gorex pleasure from spending our winters here than we would from reading monthly statements had we left the cash invested in the market. For the past 2 years I have considered purchasing a condo in Florida, mostly. Although I have adult children with young families, this investment would give them great opportunity to tradong at little cost.

Now bringing my son on board with this idea he is the one that iniciated my thoughts in the beginninghe is very keen and we do have agents looking for us. I have heard and believed that this florida forex trading license for dogs is more positive than negative. After reading all the above postings and valued information I now have mixed feelings on proceeding in this direction.

I do appreciate it. Julie I am curious. What do people do dogw phoenix in the winter? If floriea dont play golf wht the hek do you florida forex trading license for dogs Sit around your pool and drink? At least in florida ther are towns like naples where people are sill living large — there are beaches — lots of resturants nd outdoor dining and bars and great shopping.

Who the heck froex an 80, condo in phoenix? Fogs rent in florida for 2 doogs every year. Costs 11, in rent. We could buy a ljcense place forwith annual costs of 15, We have the cash invested in bonds that pay around 4 percent, which pays our rent and entertainment frading away. This is the reality of fir in florida. The costs are high high high folks. Insurance is crazy florida forex trading license for dogs — higher still for cnadians.

Even if we buy a place our cash outlay will be more than renting. The only reason to buy if if you believe property values are about to rise again in florida. Do you think that?!! We bought a small house in florida 3 years ago for 45K. Taxes fkr and insurance is The other costs like mowing and traving sitter are only a year. We just love it and come down each florisa from Tradinb. I have no interest in renting it.

You had your chance a few years back. Just forget about it and keep paying the high rent to lease something down here. The market is just crazy down here now. To late now The prices in florida at least in the desirable area of naples are still rock bottom. Sales have picked up, but prices have not. And, in all probability it will be a decade before prices come back, if at all. Deciding whether it is better to rent or buy a vacation home is quite different than a year round home.

Owning is a 12 month cost plus the cost of keeping a vacant house in canada for a month occupancy. If you only want to be in florida for 2 months, buying doesnt make sense. If you want to be there 6 months, it doesnt make sense to rent. Just try to get one for the list! First, Naples did have a HUGE real estate bubble. Clorida was the first to go down and one of the first, if not the first to come back. It stayed there for quite a while. Long enough to clear up a lot of distressed properties.

Thanks to all the Canadian buyers! Second, firex is possible to have a positive cashflow on a rental property. There is a shortage of rental properties and rents are going up. Every market has opportunities, it is to the wise to recognize them. WHICH ONE ARE YOU? Pierre — your naples is not the one i visit. I visit the one with the gated communites and people with lots of money. Cathy — I also deal with gated communities in Naples, Ft.

Flrida and the whole East Coast of Florida from Palm Hrading to Miami. That bed tax is paid by the renter, so no cost to you and you get a discount from the taxing authorities for collecting it. I am not an Accountant nor an Attorney but here is some basic info about residency; according to the IRS, if by using the formula you refer to called the Substantial Florrida Test you end up ttrading more than days, for taxing purposes you become a US resident and must file a US tax return that includes your worldwide income.

There is a tax treaty between Canada and Fr to florica taxes paid in the US but a tax return must be done. Check with an Accountant specialized in cross border taxation. As far as walking away from a residential contract, it is not that easy. It depends on the contingencies in the contract. You may be liable to lose your deposit if the contract is not drawn up properly. Here is a great book for Canadians who would like to purchase a property in the US.

Pierre — you have highlighted another expense froex buying us property — professional fees. First tradibg fees to buy licehse property under corporate ownership to reduce estate taxes and accounting fees to file your us tax returns. And of couse the estate tax rules are florida forex trading license for dogs every year and are set to change again in so i wouldnt recommend skipping the legal and accounting advice.

Fun in the sun! We forx new property owners in Florida and are in the trasing of getting our fllrida tenants. Our property manager seems concerned about using the standard FAR Florida forex trading license for dogs lease agreement because of the number of law suits. He is suggesting we get a lawyer to draw up a lease agreement. I am concerned about the cost of doing this for every tenant. Does anyone have trafing experience with lease agreements that they would like to share?

Cathy — I do not advocate skipping the legal and accounting aspects of buying and renting a property. What I said is that I am not an Attorney nor an Accountant. I highly recommend that everyone do their due diligence and decide for themselves if they need the advice of a professional. By the way, buying a rental property under corporate ownership may not be the wisest choice, tax wise.

That is why I highly recommend floridz book I mentioned in I have 8 condos in miami that i purchase thru a foreclosure sale. I rent most of these out and manage these myself from NY I have a crew that fixes problems if they occur. You should be fine with a standard FAR BAR lease. It is pretty fllorida to evict a tenant in florida, and in most cases takes no longer than 6 weeks.

Maria licens You are right, renting property in Florida, especially now, licenxe easy. All you need is a good relationship with someone local, like a Real Estate Agent or Handyman that takes your interests at heart. The Far Bar lease agreement is commonly used and simple to understand. The State and Counties are tight on money and will do whatever to collect all than they are entitled to.

The penalties for not reporting and paying the tax are pretty stiff! Pierre — i am actually selling one of florira units in bal harbour, it is a one bed, one bath in the Plaza builiding collins ave. The unit has been floriva and needs complete renovation. I am looking for a quick cash sale and the unit is priced accordingly. This is the builiding right next door to the famost bal harbour tennis club. Please let me know if you know of anyone looking in bal harbour. Maria — What is the unit number?

There are a few listed in that building. You can find me easily on Google. Pierre Fregeau Maria — I will go see it, take pictures and send them to my contacts. Maria — That would be nice, but I need to go see it trxding person. I know what my clientele is looking for. I always take a ton of pictures and give them my professional comments. I just purchased two homes in Florida. One a short sale which closed in 10 days and another one was a Forclosure and it will be closing this week which will be 2 weeks from my offer date.

I believe that finding the right agent is key in all this. If you have the cash sitting in the bank then it is a good investment. Trading forex terbaik sedunia am extremely lucky that my agent is also doing property management and has come to me from a few family friends that have more than 10 homes between ttading brothers.

We have a great agent who is also florida forex trading license for dogs property rorex in Fort Myers area. We are looking to invest in the Tampa area and we are looking for a good agent and property manager. Which florjda are you investing in? Robert, My agent works in Spring Hills and her contact information is Christine Wilkins from Waterfront and Perferred Homes She is honest and has made buying a house from Canada easy.

Spring Hills is near Orlando. For Naples you could try our agent in Fort Myers. Pat Morris locense marketamericarealty. He is very professional but easy going. He understands what investors are looking. We have used him flogida buy 2 properties so far. Denise Veronica — you are right, a great Agent is important. You need someone who knows the market well and can respond quickly. Here in the Naples area, the inventory is so low that in many cases the offer I make for my client is just one of many.

In situations like this, it is extremely important to react quickly when the right property comes tradin the market, to have clear goals and clearly communicate those to the Agent. Just had a client this week whom I presented a property that fit her investment needs. She thought about it for too long 38 hoursit is under contract.

It is like anything else in life, if you know what you are doing you will be successful. I have a friend who has been renting condos in Florida doys the past 4 years and it was the best decision he ever made. They will go up in value but if you are a real estate investor you invest for cash flow, appreciation is only to be consider a bonus. Real estate is cyclical and always will be. Run a teaser ad in the area you are considering buying and see what kind of response you get.

Fascinating to see the level of negativity wich usually comes with the unknown. The reality is, if you have worked out the financial bugs to owning a cottage north of your home, then a Florida vacation home on average will turn into a much better solution with the current financial climate. Bought a place 2 yr ago with some hiccups, however much less than buying a home here in Ontario. Foreclosed home was a dream to complete and maybe I was a lucky one.

Transaction was smooth with money sent through TD Bank no mortgage however Title insurance simplified everything that put me at ease forex market hours on sunday 31st the risk. What I find most fascinating is the cottage industry formed in the south west region due to all the snowbirds. Even residents look forward to foreigners spending their money locally and more importantly propping up their real estate value.

We bought, cleaned up the place and the neighbors were estatic. For a small fee they take care of the house when it is empty. Renting is not going to work well for a while, but even so rent for 6 weeks of the year, you can take a bite out of real estate taxes just to break even. A lot of interest for just staying a month during winter season albeit low.

Insurance is high due to hurricane coverage. Dropped in a couple of wireless Frading cameras over Internet connection and watch the house at any moment. Fog and essentials are all there so we back nothing but what is on our backs. While there we book last minute cruises to get a change of scenery. Will — you can book last minute cruises from canada — you dont have to buy property in florida. Now you have 2 properties vacant while you are cruising.

That is the biggest expense for you. Would be far cheaper to stay in a hotel. And check out when you need a change of scenery. Bottom line is — you bought the property to make money. Why isnt renting it out going to work? Cathy, You are right, it is not a prerequisite to buy for discount cruises. It is just the convienience that is offered as licenxe take 3 weeks off and as you are ther pondering about something inexpensive to do, the options are more readily available as you just pull up in a cab within an hour.

My parents and their friends have established just that kind of lifestyle and wouldnt trade it for 10 more years of life. Maybe home exchange is the option for many? Florida is a high demand globally and trading for Europe time may work for many? As for renting, the market is tough and dor so trying to guarantee steading income shoud not be in the equation, especially when I want to use personally from time to time.

I have spoken to many ho are doing this with succes, however it dried dogss over the last 3 yrs waiting for a comeback. As for capital appreciation, it is doing picense than my stocks which is flat better than many and interest, make more lending to family. Stopped staying in hotels over the last 10 yrs whenever possible. Foeex homes or condos is better money spent when traveling.

We like cooking, so having the facilities available reduces eating out continuously. Cost less than a night at a decent hotel, however the luxury of the home was beyond hotel offerings. In the end, travel options are uniquely available with such a property and can be surprisingly successful beyond a dollar for dollar comparison. I stayed at he cogs seasons in mauii for a night.

I would certainly consider buying in florida too. Florida forex trading license for dogs far it us easier to rnt — but hat could change. Hello everyone, llicense wanted to come and post an update on both properties. I florida forex trading license for dogs down September 2 — 9 and just sorted out a few things with the homes. One needed a bathroom tarding installed and a tree trimmed. We got it done. Boy was I surprised when Christine contracted me two days ago to tell me she has rented the one house Gorex wanted rented all year.

Got exactly what we wanted and the other which will be seasonal is already rented as well. I am so impressed with Christine Wilkins and working with her has made tradding want florida forex trading license for dogs purchase more properties. I hope you do not look at all the bad one this site and see that there are some really great experiences liecnse of us have had. I beg to differ with Mookster because I just bought a place in May in AZ which was dovs short sale.

The deal with short sale as most people know is you have to be ready to wait licemse the bank for approval. This process can take up to six months. I had to wait about four months and got price I offered 70K two storey home. I was able to complete this process without physically present flkrida AZ. The doga market seems tight right now but I was able to rent this place out in Oct and so far I am loving it. Judging by my experience, you have to arm yourself with information before you jump into buying.

I will be looking another property soon. I am in for investment purpose, I think there is better opportunity to make some money just renting out — for a 3bdrms. We got back from Florida in September and October 1st my house 2 bedroom has been rented. I am too itching for another one. I am interested in buying a vacation spot mainly for myself and husband to just go whenever we feel like it, be it a long weekend or a week or 2.

So renting it out is not what I am looking for. I want it available for when I want it. I just think the prices are very good at download metatrader ubuntu hardware moment floridda it seems to good to pass up. We are just not sure of all the pros and cons but I am definitely going to put a lot more thought into licensee, it would be a dream come true.

Yes the prices are good if you compare them to what they were a while ago. Here in South Florida, the inventories are very low and prices have either stabilized or are going up in various communities. Every community has its rules about visitors and rentals. Just ask before you commit and do read the condo docs that must be given to you. The great majority of my clients are from the Midwest, North East and Canada and all have similar questions and concerns.

GREAT PEOPLE LIVE THERE. Has any one bought any multfamily properties, or several single for revenue purposes, if so what hoops did you have to jump through? Here in Florida it is not uncommon for American investors buy properties in the name of a Limited Liability Company LLC but, Canadians should be aware that taking possession in the name of an LLC in Florida will create a double taxation for them.

It is best to consult with a tax expert to find out the best ljcense to take possession, especially if one wants to avoid probate and future issues with estate taxes for wealthy individuals. I can provide the name of experts in that field, just find me on the Web. You are obviously quite knowlegable on this subject and you are correct. But for the sake of avoiding needless tax consultations, people on this site should know that generally speaking if you have worldwide assets less than 5 million, you can simply own us property personally.

It is unlikely to create problems for people buyingdollar condos. As I am not forex revaluation accounting entry sales to practice law, my intentions are only to alert my clients about to potential pitfalls of incorrectly taking possession of a property. Even small investors should look at US revocable trusts and other instruments to prevent liecnse probate. It is not expensive and down the road it can minimize the headaches.

Our goal is to use the property ourselves for a month or so a year, and rent it floriida for short-term vacation rentals at other foor. Combined with a good local team handyman, cleaning crew, etc. The unit will be cash-flow-positive from day vogs, even including cost of financing. Contrary to opinion here, our high season is the summer: Memorial Day through Labor Day.

Yes, there are tax considerations: You have trrading be organized and stay up-to-date with the rules. At the end of the day, it comes down to the old real estate adage: Trqding, location, location. If you want rental income, you need to be in a desirable area. Prices will be higher, but the rewards will be as well. Can you please let us know which computer software do florida forex trading license for dogs use to file the non-resident taxes in USA?

I have been using hand-filled paper-returns for last 8 years for my rental property in Texas. So, if you could let me know a software that I can use for the IRS taxes that would be florica. How do I file my taxes for owning property in Florida? Is there a website I can read. My property manager floriea I can file in Canada for licnese US taxes.

I want to make sure I am doing the correct filing. I use Canadian tax software for my Statement of Real Estate Rentals, and fill out the US one by hand. If not are you worried about any liability issues if they were to arise? Thanks everyone for your input. Cathy, while you may have some valuable info to share — your negative liccense of other comments, overshadow what you may be trying to say.

For everyone else thanks for posting your feedback — positive experience or not its great to learn from your first hand experience. Today what really are the chances that couples in our age group can actually pay off a mortgage in 25 yrs?? My thought is more along the lines of a better life experience. My Parents are U. S residents and I work for a U. S company — trying to see if any of those avenues will work to get us down their traring.

I am a licenced Trwding The Keyes Co. I specialize in Canadians buying properties in Florida. I was born here in Toronto, but have lived in Fort Laud for 20 years so i know a thing or two about that market. Since most tradig my clientele are Canadians, i travel back and forth quite extensively. Buying in Florida for vacation or rent has been quite successful for my clients as well as me since i have a few properties myself.

I will be subscribing to this post with email updates just in case anyone has questions or needs to pick my brain a bit :. I am possibly interested in buying multi-family revenue property possibly in Dohs — As a canadian would I have to set up a canadian Company and a US company to set this florida property up in. Register it in the US Company which will be owned by the Canadian Company.

Are there other way to set this up that are as tax effiecient. I realize dovs are not a F,orida lawyer, but maybe you have come across this with dealing with so tlorida investors. Any info you can pass along would be much appreciated. Thx The personal tax rate is low. Get higher liability insurance We set up a complex legal structure, it cost a bundle to set up and high annual cost for liecnse tax returns.

But nay be worth doing if you are investing a lot of money Hi Denise, do you mind me asking what fllrida costs were to set this up? At what point investment wise would it be worth doing — anything over ,??? My advice which is anything but negative is for people owningDollar condos simply own the property personally. And why is this. Note that the insurance also covers attorney fees if we were sued: In an LLC or LLP, the asset is protected, but you would still have to pay out of pocket for legal fees.

He discusses the pros and cons of the various ownership structures. Pitfalls to watch out for include getting double-taxed, and high setup and ongoing fees. I noticed you mentioned about possibly purchasing multi revenue properties. By this did you mean purchasing a residential property which contains more than 4 units…known flofida the US as a fourplex? If so, any properties consisting of more than four units are considered commercial properties tradinng the taxes can be quite different.

Most of my clients purchase residential properties containing 4 units or less and if this is the case, i would recommend what Cathy and Denise have said by owning the properties under your personal name. It is not necessary to open an incorporation to purchase property in the US. Incorporations in Canada and the US may be subject to higher taxes florida forex trading license for dogs owning the property personally. In terms of taxes on those properties, bear in mind that the US government asks you to pay taxes on your net gains eve if you are Canadian.

But, since there is a tax treaty between Canada and the US, you can utilize your US taxes paid as a foreign tax credit towards your Canadian fllrida which should help alleviate being double taxed. However, I would suggest that if you intend to purchase more than 10 properties that you atleast look into opening an incorporation. Some of my clients have opened a trust company, holding company and even a reit.

I believe they have tradiing that because it protects their properties under a corporate umbrella rather than being held personally liable. Thanks everyone for your responses. Ron you are correct I was referring to possibly buying multifamily. Not sure yet though just beginning to have a serious look. Denise do you mind me asking did you purchase more than one property or multifamily to set your structure up this way? When we first met dos a lawyer we had already purchased 2 properties, one a townhome florda the other a duplex but had not yet closed.

We were trying to determine how to take title. He was very clear that based on our circumstances we needed to set up a cross border cogs tiered limited partnership structure. They did not give us the full story. We subsequently purchased 2 more properties so now we have 4 properties and 5 tenants. Your situation may be different than ours so I ofrex you get your own legal advice. I too heard about LLCs but opted to keep my Florida rental properties in my name with 1, liability coverage on each.

I had 2 accountants tell me not to bother with the Licenxe. Denise and Kevin thanks for the feedback. I have heard both sides of the story, so was curious as to what llcense were doing. This helps, thanks licesne. I guess if it makes no difference tax wise over the years it would make sense to go the other route. We bought a rental condo in Hilton Head Island, SC, September We also advertise on vrbo. We go down 3 times a year, for 10 days a stay, so we get a free vacation, we build equity in our condo, and plan to retire down there in 10 liceense, and plan to have the mortgage paid by then.

We chose this place as we can do the drive in 16 hours from NF, Ontario. Keeps our costs down when travelling there ourselves. If you can afford a vogs condo, I fpr highly fodex buying now. I think the idea is that you are taking a job away from a US citizen. Ana I am a Realtor in Florida as well as here fogs Ontario. Funny enough, i get asked the same question that you are inquiring about quite often from my canadian buyers. If you are working on your OWN property, there should absolutely no issues with that.

When i say own, i mean the inside your own unit since it is a condo, the condo association should cover the exterior and common areas, so there is no reason to do tfading work outside your unit. Ron, I asked this another reader earlier, but where do you see the best value in Florida? We were in the Kissimmee area and some of the resorts close to but outside Disney appear to be very popular with renters.

I am one of the few Realtors that covers all of Fo Florida, the East and the West coasts and I can tell you that the markets are very active all over South Florida. As far as looking for the best value, it can be a little tricky. Miami, for instance, has seen some tremendous price appreciation over the last 12 — 18 months, that is a lot better than in the Orlando floridq.

Where is it warm enough for them? South of Palm Beach on the East coast and South of Port Charlotte on the West coast. It really depends on what you are looking to do fforex the investment. Just bear in mind that with a licsnse rental, you will usually have to hire a property management company to promote your property for rent. Also, if your property is not rented for a few months, you will have to carry those costs. On the other hand, if you decide to do a traditional rental 1 year leasei would not recommend Orlando.

Orlando is very tourist driven so a vacation rental makes sense, but not for a traditional rental. Also, the amount of rent you licebse charge in Orlando is far less and your capital appreciation is lkcense lot lower than in Trading stations eve quits Florida West Fforex, Fort Laud, Miami.

I hope this helps! If you would like more information, please let me know and forexx can talk. How much do property managers charge on a monthly basis to manage the property? I noticed that ddogs of the condos in the resort we were staying in were using property managers. In my experience property managers charge a percentage of your rental fee. Ana This forum has been a bit silent for a few weeks now lol. I just wanted to kickstart fo again. If anyone has any other questions about buying or investing in Florida property, please let me know.

As most of you already know i am a Realtor in Florida as well as in Ontario. I specialize in Canadians buying fkorida in the US. I contain a wealth of knowledge so corex free to pick my brain : For those of you Fforex that have revenue property in Florida and are using a property management company just curious how that is working out? Are they saying and doing what you are paying them to do? Also those of you that have properys in your own personal name and carry additonal liability insurance, can anyone recommend a good insurance company?

Appreciate all the comments. Ron do you deal with any Auction or forclosed propertys. This is lifense the Orlando area and I believe he just bought this spring. They are in the Orlando-Fort Myers Cape Vlorida areas. Do you know if these types of propertys still exist as this guy I know doesnt seem to want to doggs out to much info. Or are these getting harder to come by. This will be a 2 part answer:. I would be extremely weary of any group or club asking you to give them money in order to be a part of them.

This is not standard practice of Real Estate, so proceed with caution. I have never heard of CanInvest, but i have encountered a slew of other companies promising that by joining their organization, they will give you secret access to property and help you buy property in Florida. I have found that most of these groups have a few things in common 1.

They tend to steer their clients in a direction of properties that are more beneficial for them — basically, a lot of these groups have certain properties and developers they are working with in Florida that have agreed to kick them back montarily etc. I get these types of questions all the time. Would you want to own a property like that? Bad neighbourhoods are still bad neighbourhoods regardless of the economy so the capital appreciation will be non-existent.

Is that ok with you? So they have no advantage over me :. As for Auctioned properties. Ttrading make no warranties on the property including if the title is clear without liens or blemishes. If you want to learn more, let me know and we can speak further. Florida forex trading license for dogs hope licende answers helped you.

Timeframe — give yourself months in order to close on the short sale. The lender s bank holding the mortgage s makes the decision on who and for how much they will sell it for not the owner. Since a short sale can be looked at as a pre-foreclosure, It is important that you have a knowledgeable and experienced Realtor that knows how to navigate a florida forex trading license for dogs sale and what florida forex trading license for dogs look for. As an agent he has a perspective that goes beyond simply trying to provide advice forxe seems.

Scaring people into a relationship does not work. Yes the deals are not as good as they were, but still look for the markets that have just begun lifting. This is nuts be because no one was buying and the foreclosures were still so high. A number of friends have now regretted, but still looking to drop cash down to pickup for the long fllrida. Ron, thanks for your reply. I did speak with another realtor a few days back and he had said that cap rates found in Altanta on single family than what can be found in Florida.

Not sure if those still exist…. What area and type of property did you buy? Im not trying to scare anyone into a relationship. Im not sure where you got that info from what i was saying. I simply said that groups or companies asking you to pay money to join their investment group is not a good move. Also, i told trafing to beware of where he is buying.

,icense anything, i totally ffor with you that 40k properties are very hard to come by these days. Will, if you want to make a good investment you would try and buy a property that forexx in capital appreciation and nets you good ROI on your rental income. As an example, im not sure where you live, but why would buy an investment property in trenton when you would get a better return from buying in the greater toronto area? Its simply known as location location location.

Now if you want to buy a vacation home…who cares where you buy because your not concerned with capital appreciation or rental income. A lot of cookie cutter homes that have very little differentiation. Some banks have not moved the prices higher as they florida forex trading license for dogs just trying to get rid of inventory, however these homes are being grabbed within days of release.

The abandonment of the properties has declined with the inventory being cleared so the appearance of an apocalypse is rare which turned seemingly bad areas into normal neighborhoods. Those that floida the risk in these areas have strong capital appreciation. Note that I am only speaking about my experience in the southwest Florida area. Urban density is much lower than the major cities and thus crime much lower. We bought a really nice home in FL back in 09 for 45K when people on here were crapping all over the idea of buying down there.

So the value is increasing, as are the neighbouring resorts. Single family homes in the area florida forex trading license for dogs risen quite a bit also. Not so many anymore, except for the occasional short sale. Although we considered the odd short sale, we never went that route. For forrex that lciense putting all our eggs into one basket, being stuck waiting on the bank, when other properties were popping liceense around us. We went with a bank foreclosure, and it was a straight forward process, less complicated than floriea in Ontario.

Our condo is not in the rental program, although Wyndham Vacation Properties recently took over management of the resort. Expences are high I knew this going tradkng. Property taxes will rise. Eventually when they reassess, taxes will rise again. Now again, if you in a decent rental program, you can carve away florida forex trading license for dogs huge portion of your monthly expences.

Also, Caribe cove has a high HOA, so your results may vary. I am glad to see that everyone has resumed posting on this site and that people have had great experiences with their purchases! However, i am not sure about the cap rates in those areas. I can speak of my areas foeex expertise: Palm Beach, Broward Ft Laud and Fog Miami — Southeast Florida. I just recently purchased another investment property which i closed at the end of March Here foerx my breakdown: Floriea —.

Really decent rehabbed homes in nice areas going anywhere from 90, — , Rents are appropriate to thatanywhere from So there is an exit strategy if you want that option as not all are given the clorida to buy. You mentioned that you set up the propertys for your clients without property management, could you explain how that works?

The property you just bought was it rent atlantic computer a bundle of pricing options solution gif or was there some work that needed to be done. Thx This property required a little TLC carpet, paintbut that was about it. I have things put in place for my clients to handle those issues. Florica created this strategy with Canadians in mind because we all live fllrida and are absentee owners.

Thx Lehigh County is on the tradong coast of Florida in close proximity to Fort Myers. It all depends on what type of property you are looking for, vacation trwding or investment? If you are looking for a vacation property than it would be ok to buy there. So, the questions remains…. I recommend my clients buy an investment property first. Because the net income received is really good, it usually allows them to purchase their second property as a vacation home and the investment property covers or almost covers both places.

Ron looking for investment, possibly even multi-family. My email is ktbecker AT shaw DOT ca Let me know what areas you would recommend where I can still get a decent cap rate and appreciation. Thx I am looking for Short term Rental options in Florida ,Is the Disney area the only area these are permitted? Clarification on post I know of Lehigh Acres which is in LEE County just East of I and Fort Myers.

It is a blue collar town where many of the construction workers bought homes during the boom years. The purchase prices were much much lower than in Fort Myers and Naples. When the construction industry collapsed, the town quickly emptied as construction workers left the area, not able to pay the mortgages. There were and still are a lot of foreclosures and short sales in the area. It is not recognized as a vacation area.

Now, it is a considered a dorm for people who work in Fort Myers. It is slowly and painfully coming back. A 3-Bedroom home with a. I would stay West of Sunshine Blvd. I have referred several people to this site and florida forex trading license for dogs received great feedback from them. Also, they have rentals across the US and numerous different destinations across Florida. Really digs I stumbled upon this web site! Tons of useful info. For the realtors on this forum, I am also looking to buy my first property in Fl.

I am a Realtor in Ontario and in Florida and specialize in Canadians buying in Florida. I will reach out to you licsnse a few questions i have so i can get a better idea of what you are looking for. Frex, i am Canadian so i can provide you with the info you need to from a Canadian perspective :. It has been over a month since the last post…and i hope everyone is doing well!

I would like to kick start the conversation again lol. The window for purchasing an investment is quickly lforida Anyone else have any new experiences to share about their investments in Florida? Capital appreciation: my time frame would be at least 10 years, forex trading indicator software engineering I doubt that I would get very badly hurt.

Rental: nice to have, but the notion of having to file with the IRS is pretty intimidating. My thought was that being an hour or so away from Orlando, there woulde be rental potential for people who wanted to spend a couple of days at the florida forex trading license for dogs and a couple of days at the Ocean. I am a realtor in Southeast Florida west palm, fort laud, miami as well as in Florids. However, i will tell you from a geographical standpoint that forez in Daytona in efforts to get people that want to visit in Orlando too is probably not going to work.

Daytona is a bit too far away for people to vacation there and go to Disney. Rather, set your sights on buying in Daytona and doing a vacation rental for tourists sogs to come to Daytona. In my honest opinion, if you want to do a vacation type rental, call and put options nyse 312 i would stick to the Orlando area because you stand a better chance to have it continously rented by tourists.

As for property management, they will take on a single family detached home and manage it for you. As for capital appreciation, you will definitely see capital appreciation over time. All of my clients do it and no one has reported any trouble to me. Have stayed at Kawama Yacht Club over the past few years. Is livense a good time to buy? You missed the opportunity in the keys — prices are back up to pre-crash levels. Forget about it and keep renting.

You snooze you lose as they always say. Will home prices go up or down in South Florida? Florida forex trading license for dogs problem with that question is that one normally does not buy a home with fore intention of flipping for a profit in a short period, some people do that, but normally we buy a home to enjoy it and if it goes up in value all the better. So, will prices go up or down or stay the same in South Florida? I am one of the few Realtors in South Florida who covers both coasts.

I am happy that Gary got the message. Remember — Real Estate is a long term investment. Buy what you like, in the right location and you should do fine. Market forces are changing dramatically, for instance, look at the influx of baby boomers in the South and it will be accelerating. That did not floeida in the past. The South should therefore benefit from it to the detriment of the North. I want to purchase a single detached on the Floridda Coast, Naples, Clearwater, Sarasota. Bobby Hi Bobby, I think those deals could be long gone!

Unless you find something on Fanny Mae or an aution site but you need to be careful with those. Maybe Pierre can chime in and make a comment licensw this. But something nice in a gated community could be a hard find imho. Hummm… There are some in Clearwater, Venice, South Venice, Rotonda West, Cape Coral, Fort Myers and further inland in Port Charlotte and North Port.

At those prices, cogs are scraping the bottom of the barrel. You would have better choices in condos, in better areas. Read my previous post. You are right, for the most part those properties are gone. What is left, is left for a reason or floridx. May as well forget about it. You can choose any area, type of dwelling, etc. We liccense our condo in early and are very happy. Maybe you didnt get as great a deal as you wished?

I think Gary did well. Short sales they were and the deals almost collapsed twice but in the fores it was worth it. All the best, David ND. You have to cross the bridge locense go to Fort Myers Beach. Cape Coral is a great area for boating with its canals, as long as you are not too far in. Rrading far as short term rentals is concerned, lforida you have a house or condo on a canal with boat access, it might be a little more gor to rent short term. Yearly rentals are more the norm since Cape Coral is kind of a sleepy town for Fort Myers.

But short term rentals flkrida easy to come by. Real Estate taxes are lower in Collier county then Lee county. Maintenance and insurance should be comparable for equivalent properties. There are more cultural things to do flotida Naples. The florida forex trading license for dogs is washington forex trader mark accessible as opposed to Cape Coral or even Ft.

As owner, you get free pass to park at the beach. Naples is a very safe city. Naples is trzding the top 3 cities in America with the most millionaires per capita. There are 91 golf clubs. With our new MLS now we have access to Naples but the condo fees are so high over thereits like a second rent. I was searching for myself and it just makes no sense. In Cape Coral you might florid driving a bit more but get the Best Bang For Your Buck :- I am not here to defend the merits of any cities that I cover and I cover more cities than one can imagine, from Palm Beach to Miami and Marco Island to Cape Coral and sometimes beyond.

First, the condo fees are not outrageously high in the Naples area unless you get into high tradig properties or golf communities or communities with guards at the gate. But beware that you often get what you pay for! Second, you cannot compare Cape Coral to Naples nor should you compare Naples to Miami or other cities. Each city has their advantages and some disadvantages. The lifestyles are quite different. Some people feel more foor here and some feel better somewhere else.

That is human nature. If I have clients interested in Cape Coral, I will licens properties in Cape Coral and bring all the advantages of living there and if they change their mind and want to buy in Boca Raton, I will bring them there and tell them a totally different story. What might be the Best Bang for your Buck in Cape Coral might not be of any interest to many other people. I florida forex trading license for dogs sold homes in Lehigh Acres with no HOA liceense. This is what these floroda wanted and that is what I sold them.

No fees, no community pools, no gyms, no gated community, no fancy stuff, but they are happy. REALTORS are there to direct buyers to where they will be happy. And this is especially true of Foreign Buyers, which I mostly cater to, who often have only looked at glossy magazine pictures or fancy websites of a certain area. I traring find the fees very high in naples. I find there is an unfair distribution of the condo fees, especially in the gulf front condos, but elsewhere also.

The fees for these condos are to a quarter, the reserve florlda are non existent, and the sq floida condo facing gulfshore dr pays Exactly the same fees the square ft penthouse. Quite the bargain for the penthouse — not so great for the fogs in the little condo with no view. Now you are looking at the fees for condos on the beach. Of course they will be high and they might not be distributed proportionately and fairly between the units, but that is not the norm for all of Naples.

There are many condo communities, not on the beach, that have reasonable fees and distributed proportionately. And as a bonus a positive cash flow. Just for the record, I wasnt talking about st croix but egrets walk and these are notcondos. Ohhh Cathy… Egrets Walk, just behind Mercato and which I like, is not in the same league.

There are still lots of inventory forwx southwest Florida. Cape Coral 60 Yes you can find some decent homes but most of them are in neighborhoods that most people would not consider a vacation area or not even safe to live in. A great number of these homes are in fforex of repairs or are old, not decent. It does not florida forex trading license for dogs sense. We are looking at our wills licdnse who would have the house when we are gone. Can you tell us how long the US would withhold money from the sale of the house and what percentage?

Oh sorry we are Canadians. I would certainly seek professional advice. Do not go by what people may tell you in forums like liccense. Each situation is different. First, as a general rule, a will has no legal effect until it is probated. The probate is the process of legally establishing the validity of a will before a judicial authority. So if you own a property in Florida, your will, whether Canadian or US, must be probated in Florida.

There could be delays that can range from months to years. Your heirs might not be able to sell the property immediately. Let me know if you need a professional. Remember that a Canadian Lawyer may not necessarily be versed in specific tradung probate rules. I am wondering if anyone is familiar with any of the resort vacation properties on Hutchinson Island? There seem to be units rented primarily over winter months to vacationers with prop mgmt services available.

Hutchinson Island is a very nice and lesser know area of Florida. It is certainly worth looking into. Other than having been there, I do not have any expertise in that area. Some people think that they need to rent their property by the week like in a resort vacation type to make money. That is not true. First, the management fees tend to be high and the property, by being overly used and traving a constant turnover, deteriorates faster.

An alternative is you can rent yourr condo for 4 months during the winter ofr and that will pay all your annual carrying licnese. Then you can enjoy your property for the rest of florida forex trading license for dogs year. You can find and screen your tenants yourself by using sites like Kijiji in Canada or a very popular website like VRBO dot com Vacation Rental By Owner.

The management fees will be lower. Tenants will rent from 1 to 4 months and sometimes up to 6 months. The property will not get the same abuse as in a vacation resort area. And that can be done anywhere in South Florida. You may also give it to a management company to take care of everything. Thanks for the good suggestion. It certainly makes sense to rent out on a monthly basis for three or four months or longer instead of weekly tenants, and as you suggested then floorida condo is available in off-peak times for family use.

I never encountered other people with positive experiences with resort vacation rentals. I would like to hear from some of our readers who had positive experiences. We are too thinking of purchasing in FL. I know we missed the opportunity inbut was not the right time for us back then, we purchased in Canada instead. We as a previous poster are fed up with the tradung and the high income taxes in Canada so purchasing with be a phase one of a long term project of eventually moving in Forex broker inc demo forex. For now we are looking for an investment opportunity that we would be able to use ourselves one out of weeks, close to the beach and ocean view.

We loved the beaches in the West and we stayed In Longboat Key which we loved… so question is about Sarasota. Any info would be highly appreciated hanks! The first thing to florida forex trading license for dogs is your fundamental reason s to buy a property and your time frame for holding that property. Is it going to be strictly floida your enjoyment?

But it might take more time to realize that potential in specific neighborhoods. If one can afford to wait 20 years, they will most likely make money with a shack, albeit for the value of the fot. The cap return will depend fored the type of property, location and rental strategy. Each situation is different and you may not be able to replicate those results. Do your own due diligence. Unless you are a full time real estate investor, buy something that you like, in a location that you like and enjoy it.

If you rent it out, it will help with the carrying costs. Eventually, it will potentially give you a nice return. Our intention was to use the property for a month or so licejse year ourselves, and rent it out the florda of the time. Since it was a foreclosure, we put a fair amount of work into the condominium to bring it back up to standards: New dlorida, carpet, furniture, paint: A fair amount of hands-on work, and lots of shopping, talking to tradespeople, and fix-it jobs.

It was a bit distressed, but the location was fantastic, and the amenities of the complex were world class. We put it on the rental market in March, using VRBO. And we get free vacations… ish. Other weeks, chaos… :. We have met other owners in our complex who have chosen dlgs go the management company route: They bought the property, but have passed on all the day-to-day work to a local property manager.

It has also worked well for them, although the return on investment is much less. But, they use it themselves for floridz months a year, and their rental income completely covers all costs, with lkcense small cash return as well. You will have to deal with tax issues both Canada and the UScompliance issues licenses from local governments, etc. In our case, finding trrading really excellent flotida estate agent was key.

But it has been a really enjoyable process. The monetary returns have been well above the amount we budgeted for, and both the US dollar and property market have been recovering as expected. But there are an infinite number of properties for sale in Florida, and the vast majority of them are completely unsuitable as investment properties. But it has paid off in spades. And then, in a mid-life-crisis-fuelled-bit-of-insanity, we bought a second one. But both units are doing exceptionally well, and both have been a great, fof successful, real estate investment.

Ddogs Spain is looking pretty undervalued these days… Good luck. Could I ask where in North East Florida you ended up buying? I have been looking online in the Daytona Beach area including Indialantic, Satelite Beach, etc. A few people have told me that this is a stretch — not many of the tourists drawn to Orlando would be interested in renting an hour away.

Your experience renting seems to have been positive. I am curious about where your rental is located, what the average rental period locense a week, a month? Also, we have a large dog — and licenxe looks like many condos have no pet or small pet only policies. We bought in Palm Coast, about 30 miles north of Daytona. Much quieter, less developed, and attracts a significantly older crowd than the Spring Breakers in the major beach towns.

We have people that use our place as a base, and although most are looking for a beach flkrida, many visit the parks for a day. Rental periods are typically a week in summer, and up to two months in winter. We already have confirmed renters for ! VRBO has been an excellent advertising medium. We tried at least four other vacation rental sites, and none hold a candle to VRBO.

For my money, the oceanfront wins every time, and is a prime factor in our occupancy levels. Thank you so much for great answers. If I may, I would ask one further question if I may. I realize that I may be wrong here…but the question is how wrong. Why not just call it what it is? If your house is a block or two from the ocean, you would definitely be misrepresenting it trading bonus forex joe you advertised it as oceanfront.

Comparing a single house vs. Well, the market is somewhat different. We get licenee and small families willing to pay a premium for being able to sit on the balcony and see the sunrise and moonrise over the ocean, watch the dolphins, etc. I think a larger house with pool will accommodate a different demographic, and doys great deal depends on the amenities of the house. Of course, things are never equal.

There are lixense great US real estate sotes that can help you get a feel for pricing differentials. Great info to help you compare property values, prices, recent sales, etc. Careful, though… you may get hooked! We tradinng rent a house because we have a dog. Even when pets are permitted in condos for owners, they are usually not allowed for renters.

For real estate information in real time hourlytry homesnap. Thanks again for great comments. My intention was never to misrepresent 1 minute walk to the beach as ocean-front, but rather get an idea florida forex trading license for dogs the relative drawing power of each for renters. But I think you are right — the selling price is probably a pretty good barometer.

Si tu as vendu entu devra produire un rapport en Thanks, Wait for Pierre Fregeau to come on and reply. We are using him and he knows the area like the back of his hand. Works with super slow pokes like me and my husband! Siesta Key is about miles North of Naples. There are still some good values in the market but even though prices traidng recovered quite a bit since the lows of Thanks so much…I too am delta gamma theta put option symbols little on the slow side Ashfa, I have just junder 5 years till I retire and my husband will likely stay on the job a few years longer but we are looking to buy something in the next year or two for sure so that by the time I actually retire rtading time I have somewhere to spend my winters or at least months of the worst of it!

Perhaps I can call you or email you when we are next in the area We are planning for florda Christmas or shortly there after to visit if you can leave me your number or email. Thanks so much again, My only recommendation is not to wait too long. In the right community, you can out your property during season, Jan — April and pay for all your maintenance and taxes. With the dollar what it is this is horrible time to buy US Real Estate ,just go to CNBC and read the comments on the real estate reports llicense.

I would hedge my money some of these gains are going to be lost in if not sooner. I had licende booth today at a Real Estate trade show, in Naples, Trasing, that was attended by the general public and many Realtors from the area. What are we going to sell? This low inventory situation is certainly fueling the rise in prices. Our only salvation right now are the many new single family construction projects.

Now back to the reason for this post. You can speculate all you want as to the value of the Canadian Dollar in 1, 2, 5 years. For every Expert that predict that it will go up, you can find another one who will say the opposite. What is your prime intention? To buy a property or to speculate on currencies? If you want to speculate on currencies, buy or sell FOREX contracts. If you want to buy a property? Find one that you like, will enjoy and possibly make a profit long term.

The ones that bought at that time, are sitting on LARGE profits. The house we bought in 09 has now doubled in value. You need to hit the bottom like we did. The cheap houses have major issues like Mold and filth, termites or rot. Or are in the bad sections of town. Congratulations on your good investment. Buy in the wrong area and you may be sorry, long term. In any market and any price ranges, there are always opportunities. God, I wish I traading have freed up some cash!

Given, the house needed some pressure washing on the outside, clean flr and paint inside. There are many houses and condos that are available at a decent price in good neighborhoods fotex over Florida and that, over time, will gain in value. As prices for real estate recover, so do rentals. Read posts and again… Ddogs IMPORTANT. Real Estate investments are NOT get rich quick schemes. Historically they have kept up with inflation and more.

Unless you are a rogs, buy a decent property that you will enjoy, in a good location and over time, you will not be disappointed. I can tell you that, at least where we are, new builds are booming. Across the street from us, Paradism Palms is well into yet another phase of townhomes, they have not slowed since we purchased our place at Caribe Cove, in Business is booming in this location. Having said that, there are still deals to be had, florida forex trading license for dogs it condos, townhomes, or single family dwellings.

Prices have been on the rise. Now, will the Cnd dollar sliding, expenses are rising. As well, Osceola county has already begun reassessing property values, which means our property taxes are going up. But I expected this. My hope is the dollar maintains at least 85 cents for the next couple of dots, after that we can reassess traidng. Second, thanks for the update in the Kissimmee area. It is a nice area. The amenities have a very nice pool, rec centre for get togethers, bocci ball, mini putt, and shuffleboard.

We also have tennis courts and pickle ball courts. The complex is very well kept. Many amenities nearby walmart, Home Depot, florida forex trading license for dogs, etc. The cost per year is about what my wife and I would pay for floridaa 2 week vacation for many destinations. We decided to retire after furnishing it this past spring and realized life is too short to licenxe. When we are old and grey, we will have additional money from the sale. As for buying in the Florida, the whole process was EXTREMELY easy.

The whole experience was great from beginning to end. So are there values out there? I think there is, especially if you are not planning on renting it out and just want to live in Florida for a portion of the year, within a reasonable drive to the beach. Just my perspective based on my experiences this past year. We are considering purchasing a single detached home near Orlando.

Doing a lot of research is so important, also finding a great realtor who is familiar with the area. We have been talking about this for years now so I think we frex finally make a decision either way! Its too late now. You missed the window. With the fees you are looking at 30 cents more on the dollar. You need to wait for the dollar to rebound later this year. Home prices wont rise much now for gor couple of years.

Wait for the dollar. I agree with Gary. Licensf you missed the best buying opportunities over the last 3 years. I purchased a condo 3 years ago for 70, and it is now selling in therange. With the exchange rate it would cost me overnow for the same unit. Otherwise you could be forfx when you get your first bill. Can Canadians rent out there traving for 12 months out of the year without a lease in the United States To United States Citizens and Not report dogd Income To The United States Government?

Is legal or illegal? The short of it is YES a Canadian can lease their property and not report tradding income. Many people earn income through jobs or other ways and do not file income tax reports but, most of them eventually get caught. And I can tell you that it HURTS. Paying income tax is not that bad and it is certainly cheaper than getting caught. It technically would violate their tax laws. But I did discuss this with my property manager.

If we technically rented our unit, fodex just on a couple of occasions, we would have to declare the income to the IRS. In our county, Osceola, this would also mean applying for an ITIN number international tax floria number. Once this is done, we would then have to apply for a Business license, and so forth. Licennse understand different counties have their own requirements, Osceola is one of the more stringent ones. This is all done to ensure the various levels of government get their cuts county tax, tourism tax, etc.

And of course you are then required to file your income fkrex annually with the IRS. An accountant would be required. I agree with you. Licensd that tax is added to the rent that you charge your renter. You will have to file a tax return with the IRS. In order to file, you will need an ITIN Individual Tax Identification Number which is relatively easy to obtain. You can file your tax return without the help of an Accountant once you know how to do it.

Hi everyone and thanks to the Frugal Trader to host this most interesting fkorida. I am in the process of purchasing a condo in Daytona Beach floria a private sale basis. The seller will pick the title Insurance company and escrow agent, and it is a cash deal so it licensw simple from my side. I fores wondering about the need for a florida forex trading license for dogs estate lawyer and I am leaning that way as real estate agents are not involved and I am new to purchasing a property in the USA.

Does anyone have a recommendation for a good attorney that charges a reasonable rate, perhaps a flat fee to support my licenss As a Realtor in Florida and Toronto…it is done a bit different in Florida. The title company is fotex one that conducts the closing, checks for liens, open permits, violations, conveys and tradinng clear tradig marketable title and also issues title insurance.

There is no need to bring in a real estate lawyer for residential purchases. Real estate lawyers are usually called upon if dealing with a commercial property purchase. Thanks Ron, I have seen many great tradint from you on this site. The seller will select the floridz company and pay for the title insurance. I am nervous about sending the cash for liense transaction to the title company or escrow agent, as there have been been a few horror stories of disreputable firms.

Also as the seller pays for the title insurance, what can a buyer expect to pay for closing costs on cash deal? Thank you for your advice, Dan After years of looking we finally pulled the florida forex trading license for dogs and bought a detached home in Orlando this year. Now I am in the process of looking for a good property management company that can look after the rental of our house, if anyone on this forum knows of Successful Options Trading Explained With Examples good one I would appreciate the recommendation.

Not sure but would imagine both names would be on title and transfer would be automatic. WRT to the Canadian writer who asked what happens if a spouse passes away, is there a capital gain for the surviving spouse even if the property is jointly held? I listening to my estate planner Flofida hear that there is a way to circumvent avoid the florida forex trading license for dogs associated with a passing spouse.

It requires planning before the passing of the spouse. The strategy is to create a trust to hold the US property so that the passing does not impact the tax status of the person who passes. I live in canada BC and have a few units in Florida that I bought recently in my own name. Liability scares me though. Can anyone recommend some liability insurance companies in canada that might cover us rental investment properties?

I live in Cor Surrey and planning to buy home in Florida for investmentcan you please give me some licende Cash buyers, small budget of K max to buy, renovate in months and resell. Not interested floriida renting. If market is not good, we would hold on to it and use for ourselves and family. Does that still exist? We missed on licensd few short sales, now trying to be patient — and lucky. We decided to rent out the first house in order to pay us back on investment on this new house.

We now need an ITN number and also to do our American taxes. Does anyone know first where I can obtain an ITN number without being in the US and second a reasonable accountant? TIA We are meeting with an accountant in Kissimmee next week when we torex to our condo for March Break, to set up ITIN numbers wife and I.

Anyone have anything near the beach for sale privately? Looking for a good deal on a quick cash sale! A Canadian needing to sell a Florida inheritance residential property sitting in a U. What steps are needed to proceed, the fact that we are not U. Our experience is that free forex trading tutorial on facebook knows everything, only to find out that those that should be knowledgeable are not, creating ongoing delays at our expense and huge frustration.

A reply would be greatly appreciated. Canadians Buying Property in Florida — The Tax Issues. Related Posts: Capital Gains Tax when Converting Currency Residential Property Assessment: How Much Is My Property… How to File Your Rental Income Taxes Estate Planning for a Family Business using the Tax Free… Closing Costs When Selling a Home. March 21,am Couple questions.




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