Hey,I'm thinking of investing in Florida and I'm wondering if someone could help me figure out the pros and cons? I'm from Canada.

pro - cheaper than canada real estate con - more than 5 miles away from canada

.....that awkward moment a Canadian gets excited about golden showers in your state....

I don't deny this, and as a Canadian investor we have to deal with currency risk on top of the usual risks of real estate investing. That being said, I'd rather get a 10%+ USD cash-on-cash return in the still-largely-undervalued US market than get a 3-4% CAD cash-on-cash return on the way-overvalued Canadian market.

How do you plan to fund the investments? Cash only or financing of some sort? If financing, are you considering utilizing US or Canadian banks?

I specialize in working with out of State investors, and I'd say the most important step is finding an agent who understands your investment goals and property requirements. If you don't find any properties to buy, the rest of the team is a moot point. Interestingly, I think the seasonal nature of the market in Florida can also work to your advantage. The market cools off somewhat in the Fall and Winter...the very time most "snowbirds" are looking to visit and pick up properties.

@JIMMY PASCHALIS Hi Jimmy! Another 'out of country' investor. I'm currently in Korea but I am a US Citizen. Coincidentally, I bought in Florida last year - Jacksonville. I wrote up a long BiggerPockets post on how I went through the Due Diligence process of even deciding on Florida here: https://www.biggerpockets.com/blogs/6526/blog_post... Check it out if you're curious about some things to look out for as an out of state investor. And feel free to reach out anytime. I help run a meetup full of foreign and expat investors in Korea, so you may have some issues in common with our members. In fact, one Canadian in our group recently bought a house - he bought in the Midwest though. Alright.. best of luck.

Hey @Marc Champagne, I have my eyes on a good opportunity in St. Petersburg, Florida. Also got a great property manager on hand. Looking for a good Foreign National finance in the U.S. and to build a local team to setup the legal entity and accountant. Any referrals that you recommend? That would be greatly appreciated. Thanks

I work in the greater Fort Lauderdale area with many Canadians either snowbirds and / or investors. Let me know if I can help?

Florida is full of Canadians buying up properties like crazy. I close many deals with foreign investors as the buyer and seller and they go off without a hitch. I agree with the sentiments of finding the right team that has experience specifically with investors. If you already know what you want your portfolio to look like, the purchases should pretty easy. Pick a good title company and a CPA that specializes in foreign investors and you will be fine.

The only downside is that the currency exchange is not what it use to be, besides that... I think investing in the Florida market is a great thing. Of course it has to be a GREAT deal in order for it to be worth your time. Where in FL are you planning on on investing in? The next property I purchase will be in Miami. I plan on a flip a little later this year. It will be my first flip, so I'm excited about it. I've not invested in the states as of yet only in Montreal! Excited time up ahead. Good luck with your search. Please report back with how things are going if you do decide to go ahead and invest in FL! Lisa

Canadian buying real estate in Florida? Pros and cons?Canadian buying real estate in Florida? Pros and cons?

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Canadian buying real estate in Florida? Pros and cons?

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