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All Forum Posts by: Apkesh Kumar

Apkesh Kumar has started 8 posts and replied 16 times.

Hello,

My current tenant living in Hialeah is vacating so I am looking for a realtor to help me with renting out the property.  Preference given to agents living in the area, honest, and willing to work with me on the standard contract.  Bonus points if you have access to an affordable handyman :) 

Post: Ann Arbor- Surrounding Markets

Apkesh KumarPosted
  • Canada
  • Posts 18
  • Votes 3

HI @Nikolai Saporoschetz, curious what you decided on since posting this. I just moved to AA and thinking of investing in units in AA or nearby places. As @Mitchell Marvin mentioned, higher cashflow does sometime mean higher crime rate and you may be stuck with a nasty tenant.  I am looking for growth areas with $200K to $300k properties. My strategy has been always be above break even, have the tenant pay for your mortgage. 

I have a condo in Miami that I am trying to rent out privately. I did my due diligence of putting an ad up on Zillow and have gotten an overwhelming number of people reaching out to me. The next step is to pick a few folks out of the list and show them the unit. The only problem is, I am not in Miami.  How do I do this if I want to avoid paying a realtor 1 month fee to open the door?

Hi, are there any lawyers here that are familiar with FL based tenancy laws? If so, please dm me. Thanks.

@Jaycilva Watson

Hi yes I do and they were notified. Also, I read somewhere that to take someone to small claims court, you need to do that in their state. I am not sure if this would be true for a rental property though as it can be interpreted as a "business". Any attorneys familiar with Florida rental laws - please advise.

Hope someone can help me on this one. I am a foreign investor with properties in Florida. Recently one of tenants left the unit looking like shi*t so I withheld their $1600 in security deposit (it cost me twice that amount to get the unit back to rental condition!). Now the tenant is threatening me that they are going to take me to small claims. Can someone tell me if this is possible, considering I don't live in the country? Also, in the event the Florida small claims does take up out of country cases, please advise what actions I should take right now and not fall for their treats? Thank you for your time in advance.

@dave 

@Dave Foster and @Eamonn McElroy, I sincerely appreciate you both taking the time to respond to your question.  Out of the 15% withholding tax, would you happen to know if we are able to get full 100% of it back? I also recall reading foreign buyers have to pay some special tax (10% if i recall) when you sell your property in Florida-  is this true?

Hello, I am a non-resident foreign investor with a a rental property that i own in Florida which I bought for $300K.  I would like to sell that property and buy another property outside of Florida, most likely in Chicago or Dallas where we plan to move in 2 years time. The property will likely go for around $400k - minus realtor commissions.  I understand when you sell the property in Florida, there is a withholding tax foreigners have to pay on any property more than 300K.  I also understand that the withholding taxes are taken not from the total sale price(?) and not profit?

Considering I plan on reinvesting the money back into another property, albeit not in FL, can someone tell me if there is a way to avoid this tax?

Hi, I travel to Dallas to see a client of mine and have been impressed with the city's growth. I looked at the ROI for purchasing and renting and it just didn't seem so enticing compared to my investment properties in Miami and Doral areas. Can someone with experience in investing in Dallas, TX weigh in? I am looking strictly newer properties (built in the last 10 years) in good neighborhoods.

Tim,
SoCal would be our dream destination :) 

But it's also quite expensive (may be not so much if you compare living standards in Toronto- avg house price for a decent house is a million).  

I am writing down all the suggestions folks have been posting here and will take a serious look into the areas recommended. This has been so helpful guys!    

Originally posted by @Tim Shepstone:

We moved from Toronto to San Diego recently. It's a great place to live. Very liberal, politically speaking, and SoCal probably has the best weather in the country. There is a good healthcare and tech scene here as well. Coastal real estate is expensive (but worth it to live close to the ocean), but the average home price in San Diego county is actually under $500k right now. For real estate and investing, it is more insulated to pricing swings than some other parts of the country.

If SD isn't your thing, I would second Denver, Austin and add Nashville. Huge health industry and a great place to invest.