Out of the State Investor in Florida

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Out of the State Investor in Florida

Will Romero
Investor · Union City, NJ · Member since 2016 · 21 posts · 0 votes

Hi,

I am a new real estate investor who reside in Northern New Jersey, I a planning to start buy and hold single family homes in FL (Volusia county to be exact) I have relatives there that can assist me managing my future investments. My question is that being that I am not a Floridian resident,  how much higher will the property taxes  be for me?  Please if you have any advices about this matter feel free to guide me.

Thanks

Will  

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Matthew McAlarney
Real Estate Agent · New Port Richey, FL · Member since 2015 · 52 posts · 15 votes
10y

They will be a lot lower than New Jersey lol. I am currently looking to invest out of state too . From what i've been reading property management will make or break you. Good luck !

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  • Pavlos Kasselouris
    Project Engineer · Miami Beach, FL · Member since 2015 · 203 posts · 64 votes
    10y

    They will not be higher, they will be the same as everyone else that isn't homestead. 

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  • Will Romero
    OP
    Investor · Union City, NJ · Member since 2016 · 21 posts · 0 votes
    10y

    Thanks, Pavlos

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  • Dave FosterBusiness Member
    Qualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
    10y

    @Will Romero, County property appraisers will have tax estimator calculators on their sites.  Here's Volusia's - https://vcpa.vcgov.org/calculator.html

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  • Will Romero
    OP
    Investor · Union City, NJ · Member since 2016 · 21 posts · 0 votes
    10y

    Thanks Dave

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  • Matthew McAlarney
    Real Estate Agent · New Port Richey, FL · Member since 2015 · 52 posts · 15 votes
    10y

    They will be a lot lower than New Jersey lol. I am currently looking to invest out of state too . From what i've been reading property management will make or break you. Good luck !

    1Reply
  • Evelio Gonzalez
    Investor · North Bergen, NJ · Member since 2016 · 121 posts · 14 votes
    10y

    @Will Romero I own property in Fl and your taxes will not be higher.  The required down payment might be higher.

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  • Will Romero
    OP
    Investor · Union City, NJ · Member since 2016 · 21 posts · 0 votes
    10y

    Thanks Evelio Gonzales.

    Thanks Mathew, and for sure that FL taxes are way much lower than NJ. Lol I think NJ has the higher property taxes in the nation

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  • Will Romero
    OP
    Investor · Union City, NJ · Member since 2016 · 21 posts · 0 votes
    10y

    thanks everyone for your replies

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  • John Rogers
    Real Estate Investor · Davenport, FL · Member since 2015 · 516 posts · 152 votes
    10y

    Everyone has been accurate...

    We are a HUD Brokerage and work with out-of-State and out-of-Country investors... Their experience is that costs are either equal to or lower than where they are from.

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  • Matthew Oravets
    Investor · Lake Mary, FL · Member since 2016 · 2 posts · 0 votes
    10y
    Will Romero I own rental property in Volusia county, specifically in Deltona. You would pay the same taxes I do because it's an investment property so we do not qualify for the standard $25,000 homestead exemption. Have you purchased any rentals here yet? If you let me know what you are looking for maybe we can do business together.
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