Here is a detailed summary of Real Estate in Florida and the benifits provided with it. It would be best printed this out and take your time your time in reading the following information and understanding it.
IN THE CASE OF INVESTMENT OF REAL ESTATE IN U.S.A. WHAT U.S. STATE IS MORE QUALIFIED FOR IT'S WARM WEATHER ALMOST 360 DAYS OF SUNSHINE, EXCELLENT AQUATIC SPORTS UNDER CLEAR BLUE SKY. FLORIDA IS THE FASTEST GROWING STATE IN REAL ESTATE DEVELOPMENT FROM EAST TO WEST COAST, FROM NORTH TO SOUTH. HISTORICALLY, MIAMI THE MAJOR CITY OF STATE IS SERVING AS A GATEWAY BETWEEN SOUTH AMERICA AND THE CARIBBEAN. TOURISTS AND PROPERTY SPECULATORS IN REAL ESTATE ARE MOST PROMINENT. OVER THE PAST TEN YEARS OR SO THE PRUDENTIAL REAL ESTATE INVESTORS ARE BUYING PRIME OCEAN/BAY FRONT SITES AND DEVELOPING VERY HIGH-RISE CONDOMINIUMS COSTING FROM $250,000 FOR ONE BEDROOM AND ONE BATH APARTMENT AND $2,500,000 FOR A PENTHOUSE. ON PRESTIGIOUS FINANCIAL CENTER KNOWN AS BRICKELL AVENUE. MIAMI DUE TO CLOSE PROXIMITY TO LATIN AMERICA, DEVELOPERS EXTENSIVELY ADVERTISE IN SPANISH LANGUAGE DAILY/WEEKLY PUBLICATIONS OF THAT REGION, THUS ATTRACTING HUNDREDS OF SPECULATORS IN REAL ESTATE.
PRE-CONSTRUCTION OFFERS ARE FAR LESS THAN THE FINISHED PRODUCTS. THIS IS TO SAY, IF THE ROCK BOTTOM PRICE OF ANY GIVEN UNIT IS $2,500,000 WITH 10% EARNEST MONEY FOLLOWED BY ANOTHER 20% OR 30% OF THE BALANCE AND FINAL PAYMENT DUE AT THE CLOSING TIME. SOME DEVELOPERS OFFER RE-SALE OF BOOKED UNIT WHEN CERTAIN NUMBERS ARE SOLD. BRIEFLY, FINISHED PRODUCTS OFFER AT ALMOST DOUBLE THE PRICE BUT IT DOES NOT MEAN THAT ANY OFFER FETCHES THE ASKING PRICE. IN A BUYERS' MARKET IT IS THE PURCHASER WHO FIXES THE PRICE. IMAGINE THAT THE ASKING PRICE IS $2,500,000 OF ANY REAL ESTATE, TRADITIONALLY, A SERIOUS BUYER WHO HAS INTEREST IN ANY REAL ESTATE, HAVE IT APPRAISED BY STATE CERTIFIED REAL ESTATE/APPRAISER WHO BY VARIOUS METHODS WORK OUT ALMOST 99% ACCURATE VALUE OF PROPERTY, THE REMAINING 1% IS MARGINAL, FOR APPRAISERS ARE HUMAN AND TO ERROR IS HUMAN. ONCE FAIR MARKET IS ACHIEVED THE SELLER IS OBLIGED TO SELL UNLESS THERE IS BIG DEMAND FOR THAT PARTICULAR DEVELOPMENT OR AREA OR BOTH. IN THIS BARGAIN SITUATION THERE ARE BUYERS WHO HAVE MONEY TO THROW AWAY. BY THE WAY NEITHER STATE OR FEDERAL GOVERNMENT HAVE CONTROL OVER PRICES OF ANY REAL ESTATE EXCEPT GOVERNMENT REPOSSESSED. ALTHOUGH, THERE ARE STRINGENT RULES FOR PRACTICE IN REAL ESTATE BUYING SELLING FOR OTHERS AND IT IS STRICTLY CONTROLLED BY U.S. STATE AUTHORITIES.
BUYING AND INVESTING IN REAL ESTATE IN FLORIDA IS A PIECE OF CAKE BUT HOW AND WHERE TO SPEND YOUR MONEY IS OF ONE'S INTELLIGENCE.
THERE ARE NUMEROUS PRODUCTS FROM KEY WEST, THE SOUTHERN MOST CORNER OF MAINLAND U.S.S. BUY CONCENTRATION IS ON THE EAST COAST OF FLORIDA AND CENTRAL FLORIDA WHERE DISNEY AND OTHER POPULAR ATTRACTION ARE LOCATED, WHERE MILLIONS OF TOURISTS PAY VISIT AND A CERTAIN NUMBER OF THEM BUY REAL ESTATE BUSINESS FOR THEY SEE FUTURE THERE.
THOSE WHO BUY BUSINESSES ARE MAINLY CANADIAN, JAPANESE, KOREAN STOCK AND RETURNED U.S. RESIDENTS WHO SPEND AND TAP IN LUCRATIVE REAL ESTATE MARKET IN FLORIDA
THOSE WHO HAVE MILLIONS TO SPEND INVEST IN LARGE HOTELS/MOTELS INDEPENDENT OR FRANCHISES. AS FOR LANDS, ONE CAN BUY A KEY (SMALL ISLAND NO LARGER THEN A FEW ACRES) IN THE FLORIDA KEYS, A SERIES OF ISLANDS STRETCHING INTO THE ATLANTIC OCEAN FROM SOUTH FLORIDA TO KEY WEST, ALL VACATION PARADISE, WHERE INVESTMENT IS WORTH WHILE SPECIALLY MOTELS LARGE OR SMALL FROM 8 TO 200 UNITS.
I TAKE PRIDE TO MENTION LARGE CONDOMINIUM BUILDING UNDER CONSTRUCTION OF WHICH 65% HAVE BEEN SOLD. ALSO A FIVE STAR HOTEL WHICH CONSISTS OF 360 UNITS WILL BE CONSTRUCTED IN THE HEART OF MIAMI' AFFLUENT AREA.
ANOTHER WORTH WHILE INVESTMENT WOULD BE HOTELLMOTEL BUILT IN COLLABORATION WITH FRANCHISERS, IT IS ALSO BOOMING INDUSTRY ESPECIALLY IN ORLANDO, LAKE BUENA VISTA CLOSE TO ALL FLORIDA ATTRACTIONS I.E. MAGIC KINGDOM, EPCOT CENTER MGM 7 UNIVERSAL STUDIOS ALONG WITH MANY MORE.
APART FROM ALL ABOVE, RETIREES' INTO FLORIDA IN ALL CASES LESS COSTLY BUT FOR BUYERS WITH NO CREDIT HISTORY MUST PAY CASH AND STRIKE THE BARGAIN OF LIFE TIME.
AS FOR VERY DISCRIMINATE LIVING, PRIDE AND JOY, RESIDENCES IN KEY BISCAYNE AN ISLAND CLOSE TO DOWNTOWN MIAMI ARE THOROUGHLY RECOMMENDED. THIS IS AN ISLAND WHERE RICHARD NIXON, FORMER U.S. PRESIDENT WHO PASSED AWAY FEW YEARS AGO, MADE HIS HOME. THE ISLAND IS VERY SECURE AND COZY AND KNOWN AS MILLIONAIRES PARADISE, WITH RICH AND LUSCIOUS GOLF COURSES. ONCE AGAIN, FOR ISLAND LIVING SEVERAL ISLANDS HOUSE MILLION DOLLAR PROPERTIES AND KNOWN AS MILLIONAIRES' ROW WHERE MANY CELEBRITIES LIVE AND ENJOY A JET SET LIFE STYLE. BESIDES, FROM U.S. REAL ESTATE INVESTMENT I WOULD ALSO TOUCH THE COMMONWEALTH OF BAHAMAS, AND MANY OTHER ISLAND IN THE CARIBBEAN REGION WITH CRYSTAL CLEAR WATERS AND SILVERY\GOLDEN BEACHES. MANY U.S. CITIZENS ARE SETTLED THERE FOR BAHAMAS ARE TAX FREE HAVEN. INVESTMENTS IN HOTELS OR MOTELS ARE WELL ADVISED. AFTER SETTLING IN FLORIDA INVESTORS ALSO WANT TO FIND PART~FULL TIME OCCUPATION IN BUSINESS SECTORS. THE MOST POPULAR ARE LARGE MALLS HOUSING HUNDREDS OF BOUTIQUES, LARGE DEPARTMENTAL STORES, FOOD COURTS ETC., THESE MALLS ARE OFTEN VERY EXPENSIVE AND THEIR PATRONS ARE AFFLUENT TO AREAS TO WHOM MONEY IS NO PROBLEM. ú BUSINESSES IN THOSE COME ON SELLING MARKET AND OFTEN SOLD AT HIGH PRICE FOR THESE MALLS HAVE STATE WIDE REPUTATION AND THUS MANY LATIN AMERICANS HAVE BOUGHT BUSINESSES THERE SMALL & LARGE. BESIDES THIS THERE ARE NUMEROUS GAS STATIONS, ANOTHER POPULAR BUSINESS, FOR MANY ARE ALSO AVAILABLE WITH OR WITHOUT REAL ESTATE. A GAS STATION IS ONE OF THE EASIEST BUSINESSES TO RUN AND NEEDS A SUBSTANTIAL CAPITAL. GROCERY AND CONVENIENCE STORES ARE LESS EXPENSIVE TO ACQUIRE BUT ARE NOT TOO EASY TO RUN. THIS KIND OF BUSINESS IS NOT ADVISED FOR MUSLIMS FOR THESE STOCK AND SELL ALCOHOLIC BEVERAGES.
IF YOU ARE DEEP SEA DIVING ENTHUSIAST, A RESIDENCE IN FLORIDA KEYS, A CARIBBEAN STYLE IS MOST FAVORITE WHERE ONE CAN LIVE IN ALMOST RELAXED WAY AND TO FILL UP ONE'S EMPTY MOMENTS, A DIVE SHOP BUSINESS IS MOST FAVORITE OF ALL. ALSO SITE SEEING TRIPS BOAT AND YACHT RENTALS ARE HIGHLY RECOMMENDED FOR THOUSANDS OF VISITORS FROM NORTHERN STATES AND CANADA VACATIONS IN WARM WEATHER AND WATER OF SOUTH FLORIDA. ANY KIND OF BUSINESS IS WELL ADVISED AND WORTH INVESTMENT AND VALUE FOR MONEY.
MANY FLORIDIANS ARE SEEKING JOINT VENTURES IN SMALL & LARGE PROJECTS SUCH AS REAL ESTATE DEVELOPERS WITH MULTI MILLION DOLLARS PROJECTS OF HIGH RISE CONDOMINIUMS, LARGE HOTELS IN THE AREA OF DISNEY WORLD, WHICH IS A HUGE ATTRACTION. AN INVESTMENT HERE IS WELL CONSIDERING. FOR ANY TOURIST RELATED INDUSTRY OR VENTURE IS ALMOST PROFITABLE. THERE ARE QUITE A FEW PRECONSTRUCTION CONDOMINIUMS STILL AVAILABLE AT LOW PRICES ON BISCAYNE BAY IN MIAMI A VERY POPULAR AND FAVORITE SITE PARTICULARLY APPEALING TO FOREIGN INVESTORS. ANOTHER ONE OF THE MOST ATTRACTIVE TERMS IN INVESTMENT IN ANY KIND OF REAL ESTATE IS OWNER POSSIBLE FINANCING PARTICULARLY IN COMMERCIAL REAL ESTATE IN INCOME PRODUCING PROPERTY. TO ACHIEVE BETTER BARGAIN, THE COMMERCIAL REAL ESTATE IS APPRAISED BY STATE CERTIFIED LICENSED REAL ESTATE APPRAISER BY COST APPROACH METHOD FOLLOWED BY INCOME APPROACH AND THIRDLY INCOME COMPARISON APPROACH. ALL THESE GIVE OVERALL IN SIGHT FORMATION ABOUT THE VALUE OF PROPERTY IN QUESTION. ONCE SELLERS AGREES TO SELL AND BUYERS AGREES TO PURCHASE THE TERMS FOR THE PURCHASE ARE SETTLED. ASSUMING AN ASKING PRICE IS $1,500,000 OF COMMERCIAL REAL ESTATE A MOTEL FOR EXAMPLE WITH PROVEN GROSS ANNUAL INCOME $210,000 MINUS OPERATING EXPENSES AS $64,000 IS EQUAL TO $146,000 WHICH IS NET OPERATING INCOME (N.O.I.) THIS GIVES ALMOST 15% RETURN OF ONE'S INVESTMENT PROVIDED ASKING PRICE IS PAID IN CASH ONLY. A RETURN OF 15% IS CONSIDERED A VERY SATISFACTORY. BUT, REMEMBER N.O.I. DOES NOT INCLUDE MONTHLY\YEARLY MORTGAGE PAYMENTS WHICH ARE CONSIDERED PERSONAL EXPENSES. FOR EXAMPLE IF YEARLY MORTGAGE IS $40,000 MINUS THIS FROM $146,000 =$106,000, THIS YOUR AMOUNT BEFORE TAX AND ALL OTHER DEDUCTIONS. AN ACCOUNTANT MUST BE CONSULTED AT THIS VITAL POINT.
THIS IS GENERAL OVERALL SCENARIO CONCERNING INVESTING IN FLORIDA REAL ESTATE. THERE ARE NUMEROUS SUCH OFFERS THROUGHOUT THE STATE OF FLORIDA WHICH ARE NOT MENTIONED HERE DUE TO LACK OF SPACE AND TIME.
FOR ABSOLUTELY FREE INFORMATION OF ANY KIND OF REAL ESTATE MARKET PLEASE SEND ENQUIRIES AND KINDLY BE SPECIFIC IN SORT OF REAL ESTATE YOU ARE INTERESTED IN.
MY SERVICES ARE WITHOUT ANY OBLIGATION ON YOUR PART AND FREE AND THERE ARE NO HIDDEN COST OR CHARGES.
WRITE TO:
A.REHMAN
7725 S.W. 99th COURT
MIAMI, FLORIDA 33173-3152
UNITED STATES OF AMERICA
ALL INFORMATION SENT BY AIRMAIL ONLY.
FAX NO. (305) 279-5903
PHONE NO. (305) 274-9510