Buying a condo in Florida? Anyone got any info/advice

A

arokili

Guest
Hi
Our friend has an condo in Daytona Beach in Florida.
Lovely location and great rental opportunities, have stayed in his apt on numerous occassions. An Condo has come for sale and we are interested in buying this as an investment.
Looking at a price of €240,000.00 more than we had thought but because of the rental opportunites we figure it would be worth the extra. Looked after by an Management company.
Two bed with all mod cons and Air Conditioning. Private Access onto Beach. Just wondering if any of u have property in Florida what are th pros & cons and tax implications?? Any info or advise would be great.
Thanks
 
How does it compare to this one?

[broken link removed]

I've no connection whatsoever!
 
Hi Lemurz

Interesting website. How you come across them ?
 
They had a big write up in the Sunday Papers a few weeks ago when launching their new Paris leaseback opportunity.

Why do you consider it interesting? Did I miss something?
 
Looking at a price of €240,000.00 more than we had thought but because of the rental opportunites we figure it would be worth the extra. Looked after by an Management company.
Two bed with all mod cons and Air Conditioning. Private Access onto Beach. Just wondering if any of u have property in Florida what are th pros & cons and tax implications?? Any info or advise would be great.

Have you run the numbers, based on realistic estimates (e.g. of costs, income, tax, occupancy, expenses etc.), to evaluate the viability of this investment and to compare it to other property and non property alternative investments? Or is this primarily a holiday home for personal use with the possibility of additional rental income merely a bonus?
 
Was just interested by some of the "opportunities" they had. Have a property here so thinking of investing abroad. Am in the early stages of doing research, different counties, type of properties, capital appreciation, rental returns, all that kind of stuff. Just though they had a lot of interest stuff.

Just a personal though. Why did i miss something ??
 
Investment

I'm just very skeptical of salesmen. I spoke with them and got all the marketing stuff. Send me a private message if you want me to forward it to you.

BTW - I'm in the same boat. My own house, one investment property and now looking overseas. However, I've come to the conclusion it's too risky without local knowledge.
 
Re: Investment

Don't expect objective advice from somebody who is trying to sell you something.
 
Re: Investment

This is true Clubman but if if take that attitude too far you would never buy anything.

Who is going to give imparial advice ??
 
Re: Investment

This is true Clubman but if if take that attitude too far you would never buy anything.

No. I'd seek information (not advice) from the seller/agent, would double check the information provided and look elsewhere for advice.

Who is going to give imparial advice ??

.
 
Re: Investment

Clubman, agree with you 100% about advice and information. Get second opinion, check for yourself etc

The independent adviser on that list are fine for buy products in this country but not sure what "independent adviser" you could take to about buy property aboard.
 
Re: Investment

but not sure what "independent adviser" you could take to about buy property aboard.

Somebody who is independent (i.e. not trying to sell you anything other than advice) and who has experience/knowledge of the particular investment situation of interest.
 
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