How to invest in Florida real estate for Canadians

13 Replies

Hi all, first post. So glad i found this site. I'm located in Toronto and interested in a rental property in Florida. I have been researching on the net and trying to create a checklist\notes, however I can't seem to find detailed info on tax implications. I'm new to property investment so essentially i'm looking for any advice on the process to purchase property in Florida, tax laws, fees, etc. and all of the facts. However, I'm also looking for advice on what areas to invest in which would be the most profitable for shorter and longer term investments. I also understand that property is quite different in Florida as there are condo fees, etc so I am trying to narrow down the property type, but again, appreciate any advice. 

Hi Dave, Im in Toronto as well, and looking at Florida.  I have owned a condo in Orlando before, but since sold it.  At this time, im looking for more of a resort type unit that I may be able to rent on a short term basis, as well as use from time to time.  What specifically are you looking for, and what area?  Short term or long term?   I know many building HOAs have stipulations against short term rentals, but there are some that allow it.  Im looking forward to hearing back on where you are at.  

Hi Neil. I'm not sure what area really, I've tried to do some research on where are the best ROI for shorter and longer term rentals but i see conflicting info. Jacksonville? Orlando? I'm only at the beginning of my search. I like the idea of short term so that i can use it for vacation as well but my priority is investment as a second income.

Hi Bjorn. Where can i find out about these local BP meetings in Toronto? I'm also interested in finding info on the web or from members here so that I can contribute at any meetings. Appreciate any advice. 

Monica, yes i would be interested in investing in an area thousands of miles away. I can't afford an investment property in Toronto. Also, I have a family member who has ties to a property maintenance company so this is a head start for me! 

I think you are wise to be looking at some of the hottest rental investment markets in the world. Orlando had an increase in the population of over 60 thousand people last year. That's amazing for investors. We also have some of the fastest rising rental rates. Ad in some of the largest universities in the country and you have a winning equation. I personally own rentals and im looking to buy more. If you ave any specific questions feel free to PM me. 

Originally posted by @Dave Ba :

Hi Bjorn. Where can i find out about these local BP meetings in Toronto? I'm also interested in finding info on the web or from members here so that I can contribute at any meetings. Appreciate any advice. 

Just saw this Dave or would have responded earlier. Go to Marketplace and then Real estate events and happenings you enter the city name and Presto! All the best!

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