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Investment Property Florida Knowledge Base
Purchasing investment property in Florida, is it a smart move now? Thinking about purchasing an investment property in Florida (cash purchase), whats the homeowners insurance costs, being in hurricane ally and all. Also, what's the best deals going on now as far as repo's or short sales, how can I find out about it? Also, I don't live in Florida, I live in NM. I'm thinking it's an excellent time to scoop up property now though. Thanks in advance.....
My wife and i are interested in purchasing an investment property in Florida.? We are thinking of the Orlando area but don't know where to start as we live in Ireland. We see ourselves using the property for 2 weeks a year and would like it rented out for the rest of the year. Is buying on a resort a good idea? Will they manage the rental of the property? How much do the typically charge for maintanance? Ideally we want the rent to pay the mortgage. Any suggestions on the matter would be much appreciated.
costs with a florida investment property? I hope to purchase an investment propety in Orlando. I live in the UK. I will need to find a company to manage my property and do maintenance. What companies are available, and what are the fees like? Also, how much money a week can you expect to make with a 3 bedroom property?
Where can I get an investment property financed in Florida? I bought a doublewide mobile home and land with cash from a credit card, I did improvements and now want to find a mortgage holder, but have found no one that will help me. The credit card rate is killing me!! Any suggestions?
What are Investment property loan rates and fees for property in brevard county Florida? What are Investment property loan rates and fees for property in brevard county Florida
I would like to start my own property investment business in florida, where do i start? I already have a few properties, now I would like to form my business. Do I need to have a city/county license? I would also like to incorporate, I know the site but not the forms required. As much information as you can give me would help. Thanks in Advance.
I have investment property in Florida that I have been showing on my taxes for the past 8 years.? If I decide to deed this property to an associate and they decide to refinance the property I gave them, will their be questions raised later on if (by chance) I am audited by the IRS? I have made NO money off the property personally. but their is value in the home. By me not selling the home will that be a red flag to the IRS???
I need help finding a good realtor to help me sell my investment property in CApe coral florida.? I can no longer afford to make payments on the house. It's been empty for the pass 5 months.
how we can find a good property investment in south Florida? mellborn and surrounds also land is a valid
Do I pay captial gains taxes when I sell my investment property if it is the only property I own? I currently own an investment property in Florida and I am looking to sell it. I bought it in 5/2004. I currently rent an apartment in San Francisco and so the only property that I own is that one in Florida. I'm aware of a capital gains tax that you must pay any time you sell an investment property. What I'd like to do is avoid paying this tax if possible. I've heard that because it is my only property, it does not qualify as an investment property and so I wouldn't have to pay this capital gains tax. Is this true?
Is there any way to get a 10% loan for an investment property in Florida these days? single family; 110k purchase price; in port st. lucie
How Can I Foreclose on Florida Investment Property? I bought a condo about 5 years ago (before marrying my husband). I currently have a renter but she lost her job 7 months ago and has missed one half of a month's payment. I scrambled to cover it and have been scrambling to pay the HELOC on it for over two years. I am not able to keep the condo anymore especially if she can't keep current. How do I foreclose? Will this affect my husband in any way? My name is not on the house or mortgage of the house we currently live in. Will this affect the house we are living in? How about my van that I bought outright almost two years ago with some inheritance money? Please help. I am scared...
will I have to pay capital gains tax on investment property in NY when my residence is in florida? House in Ny is two units. One rental and one summer residence. If sold, our incomes only come from social security for married couple. Will NY try to collect capital gain tax
Please Help! Getting a deposit back from a property investment in florida? In September last year, my partner and I went to Florida to look at property to invest in. We went with a international realty company who set us up to meet developers, mortgage advisor and a management company.The plan was to rent it out as soon as possible and in later years to sell. We found the perfect property and signed a contract with the developer who was aware we were applying for a mortgage in america and said if there was any problem with this we could pull out. We came up with the 30% (as this was needed to apply for the mortgage) straight away. But as the months went on, we were applying to so may different mortgage schemes with no luck. It was dragging out to long and we were already paying a mortgage on the 30% we decided we had to pull out and get our money back. We have contacted the realty company and the developers but they are very unhelpful, it seems we can only contact them through emails and they haven't given us any idea if and when we will get our money back. it has been dragging out for such a long time we are begiining to worry. So if anyone has any advice on what we should do? We are beside ourselves with worry as the developer has been no help what so ever. Thank you for reading. yes there was a contract. we have read it over and over and can't make heads or tails. i don't think it mentions anything about our deposit. We paid an initial deposit of $8000 which we don't expect to get back but we want the 30% back because it is quite a sum of money.
I am a real estate agent in FLorida. can i buy investment property for myself and collect a commission check? am i entitled to a commission for a property purchased for a personal investment? it will be a sale but it will completely be worked for my benefit
Would buying property to let out in Florida be a good investment ? I would be interested to hear why or why not, from anyone who lives in U.S.A.
If someone files bankruptcy in Florida, what happens to their investment properties in NY? There is one property in FL that is registered as "homestead". But there are two properties in NY currently generating income. Are those properties taken away?
anyone looking to purchase investment property or a home in florida? ayres81781 at yahoo dot com
What are my alternatives to Investment property? I purchased a Condo in Florida (investment property) at the height of the real estate market. The purchase was made with a friend as a joint owner. As luck would have it, my partner lost her job a couple of years ago and cannot pay her half anymore and is proceeding into bankruptcy. Obviously, I am liable for the loan and am searching for any alternatives, either short term or long term. The Condo mortgages along with my personal residence mortgage is 48% of my gross pay. At this rate, I'll eat up my savings within six to nine months. I am current on all payments. The value of the property was financed at 90%, with a mortgage and HELOC. Both are interest only loans. The current value of the property is 72% of the loan amount. This means the value of the property is currently about 65% of what we paid. We have been renting the unit as a vacation rental, but only have been able to rent it about 25% of the year. It generates enough income to cover about 20% of the cash outlay. Long term rental prospects are slim. Any thoughts on how to either keep the property and minimize damage or is foreclosure an option I need to consider down the road? Is a loan modification possible, even on investment property? My credit score is very good at 805, so I guess I would sacrifice that as well. I'm not looking for an easy way out, I just want to understand all my options. thanks The condo is in Panama City and I am working as an engineer in Georgia about 350 miles away. So, a business in the unit is not really an option. I guess another investor is an option. 50% ownership at 25% of the cost. That may work. The the intent was to rent about 200 days a year, however, the rental market in this area was saturated with new condos, thus only able to rent about 3-4 months a year at best. Additionally, the with the hurricanes several years back, the insurance and property taxes more than doubled, which was not anticipated.
Is it possible to purchase income property and take out equity at the same time? I am buying investment property in Florida (I live in California) it has equity I would like to pull the equity out at the same time as my purchase.
How to change an investment property to an permanent residence ? I closed on a home last week, didn't realize that i have to put my wife name on the contract ( i and her will get divorce very soon so don't want her name on the contract). The problem is according to Florida law, a married person can't buy an Residence property without have their spouse on the contract, so i have to put it as an investment property. The question is How to change it to an permanent residence, so i can qualify for the goverment tax credit, oh and by the way i'm the first time home buyer. Thanks for reading
Is buying a vacation property in Florida a good idea? I live in Ohio and I'm wondering if a florida property that I would try to have rented out the majority of time would be a good investment.
Is it legal to collect a comission on a property purchased for myself as an investment if I am a realtor? i am licensed in florida and would like to purchase a property for an investment for myself but would like the commission check. please let me know if this is viable and possible. Thanks a lot.
Can we buy home or investment property while under ch13? We were mixed up in a Florida fraud mortgage deal through an out of state purchase. We decided to try and fight for our rights by contacting all the government agencies hoping to see some justice. We sent our proof documentation and complaints in and still nothing after almost one year. We received notices our case is being investigated, but how long does this take? We are on a ch13 payment plan. If we did a short sale could we buy else where if someone gave us a monetary gift to invest, or do we need to put our investment under another family members name?
After Foreclosure in Florida,What can the deficiency judgement take? If you get defiency judgement in Florida for an investment property , can they take your personal assets like savings and a car that is already paid off? Also can they take money from your paycheck everytime you get paid? Also what happens to your other accounts like credit cards and if you have a primary residence can they take that? Basically, if after foreclosure on my investment property I continue paying all my other bills on time such as my credit cards , my other mortgage then can I rebuild my credit in 2 years.
How to get help to clean ground contamination , that was there before I bought the property in florida ? Bought it twenty five years ago , didn't think to get an EPA inspection at that time , I never used the property for anything , just bought it for investment ,now it's worthless , the cleanup cost hundreds of thousands of dollars which I don't have. what should and what can I do ?
Thinking of buying a property in Florida (UK resident) any advice? I hear there has been a crash in the market I saw an article in a newspaper that property in the states has fallen by 40%, and with the dollar weak and the pound strong I was thinking it might be a good investment. Any advice or web site addressess to browse would be greatly appreciated. Thanks.
Two properties with Amtrust 1 foreclosure 1 not? I currently have two mortgages with Amtrust 1 property is in Florida (Investment) and other property is in Texas (primary residence). I am going into foreclosure with the investment property in Florida but not the property I have in Texas. Texas is my primary residence and the payments are current. Both are seperate mortgages with the same lender (Amtrust), can they put a lean on my Texas property or force me to sell that property? Can they sue me for the difference of the losses of the Florida property?
Property Investment? Im Thinking of investing in property in Florida. Is this a good idea?? What hidden costs are there that I need to concider, or taxes etc.... Thanks
Can a mortgage lender pursue an owner that is not on mortgage for a deficiency balance? I purchased a residential investment property in Florida with my former boss. The mortgage is in his name only but I am also on the deed. He wants to let it go to foreclosure. Can the lender come after me for the deficiency balance. Will the foreclosure show on my credit?
Question about walking away from Land investment in Florida.? I owe about 90k on a piece of land. I have an interest only, I am not making any headway on the Bank of America principal. I own two other houses and one condo. All of the properties are way under water. What can the bank do if I walk away? Can they garnish my wages. They can put leans on property, but they are underwater anyway. Any suggestions?
Buying real estate in Florida? Hi, I am an Australian and considering buying an investment property in Florida. I think there will be good migration there over the next ten years and there seems to be cheap real estate there. I have a few questions Do you think this is a good idea? What are the transaction costs? Will it be easy to rent out and what would be the expected rental yield? What is the outlook for Florida in the next ten years Is Florida prone to bad flooding? Anything else to consider? TIA
what is the better place to buy a property..? Maryland or Florida? I plan to rent the property,, evantually make it a good investment ok, i have decided Maryland would be a better choice,, now which part of Maryland would be a good investment?
Is a condo hotel in Orlando, Florida a good investment? I really want to get onto the property ladder and I found a condo hotel that looks very promising. This actual Condo hotel that I am looking at is in pre-construction and will be finished in 2010. The development is expected to cost $850 million with a Broadway theater, spa, conference halls, restaurants and lots more My unit that has been offered to me is in the high $300's and I would have to pay 10% of that by the end of this year and then another 10% at the start of next year. Then I would have to pay the rest (80%) when the construction is finished in 2010. I was told that the condos will be going up in price in two weeks as the condos are selling out fast. So hopefully I could sell the condo hotel 2010 if it went up quite high for a good profit? It is a little over my budget but if I work very hard I could afford it. I was just wondering if a condo hotel in Orlando, Florida is a good investment as there are so many hotels in Orlando I am not sure. This condo hotel is is situated less than one mile from the entrance to Universal Studios, Orlando and only one-and-half miles from the brand new Orlando/Orange County Convention Center.
Florida Home Purchase - Mandatory to Have Husband and Wife on Deed? Hello. My wife and I are going to purchase a house in Flordia. My credit is rock solid - her's is improving. I want to buy the house under my name only and hold the mortgage in my name only (deed and mortgage). The reasons are two fold: (1) We want to improve her credit and (2) when we buy investment property in Florida we would like to put one home entirely in her name. I want to make sure that when we buy an investment home in her name that the total balance of our primary residence will not show up on her credit report. She wants to qualify for an investment home purchase with her income and credit. The new home builder we are buying from is saying florida law dictates that a husband and wife must be on the contract, the mortgage application and the note. Is this true? Seems strange to me - this is NOT the case for California, Arizona and Georgia (we have investment property in each state). Thank you.
Advice on Written Response to State of Florida Court re: Served Lis Pendens (Foreclosure)? I own an investment property in Florida although I live in California. Like so many other homeowners, the market has left my investment upside-down. I have not made a payments now for 4+ months. I'm pursuing a short-sale on this property. In fact, I just received an offer. Well, I was served legal papers (Lis Pendens) a couple of days ago and have 20 calendars days to issue my response to the Court. Only a day later I completed and submitted all financial documents & hardship letter (105 pages) to the lender for their consideration of the short sale or other options (i.e., Deed In Lieu or loan modification to current value of home). The Lis Pendens states that "Your written response, including the case number given above and the names of the parties, must be filed if you want the Court to hear your side of the case. If you do not file your response on time, you may lose the case, and your wages, money, and property may thereafter be taken without further warning from the Court." Question: Is there an official document I need to submit to the Court, or can a certified letter suffice? Also, can the letter simply request additional time (e.g., 60 days) to find a qualified attorney to represent my interests? If available, please respond with sample letters. Thanks. I didn't pay mortgage in 4 months because I decided against throwing good money after a bad investment. I was losing out-of-pocket $15K annually. This includes my rental income. Can my response letter request additional time to allow me to secure the services of an attorney?
Are properties in Seattle currently investment potential ? My younger brother is planning to move from Florida to Seattle to continue his real estate career at the request of his buddy. I just hope that he was making a right decision. He told me that lately Florida properties were losing their charms and he was dispirited due to the repeated hurricane disasters frightening property investors and buyers.
We are considering buying a house in central Florida to flip, is now a good time? We ended up buying our home at below market value at a real estate auction. We are now considering buying another central florida property as an investment. If we are able to get it below appraisal value is this a good investment? We're concerned that the market may be too flooded. And we know there are many properties out there for sale right now. However, our strategy will be to get it below market value to a point where we can still sell it at a "good deal" price to the buyer. If we did buy an investment property and price it below comparable homes in the area, how long are we looking at potentially waiting until the house sells? We're aware it varies by house and area, but on average? Any opinions on Florida real estate, especially from those with experience would be greatly appreciated.
What are the effects of foreclosure in USA...? Hi, I am in a situation where the lenders will probably foreclose on my Florida condo (investment property) because I cannot pay the mortgage any longer. The problem is that the property is now worth less than the mortgages on it. I have a first mortgage of 400k and a second of 112k, and the property may only sell for 399k or so. My questions are: 1. What will be the effect of foreclosure on my credit record and how will that affect my ability to ever purchase another home? 2. If the lenders foreclose, can they come after me for the difference in what they get, and what was owed? Will they take my 401k savings (about 15k) and can they touch my primary residence in CA? If they foreclose, will I end up owing them the difference, or do they just "forgive" it? Many thanks, GN.
How soon will my coastal property flood? I own property in florida near the coast and I hear daily the melting glaciers will flood coastal property but for many years I haven't noticed an increase in the ocean levels. Will the flooding be instant or slow and should I sell now to avoid loseing my investment?
Short sale in Florida? After a short sale of an investment property takes place, do banks go after the seller and make them pay back the difference? What happens to the second mortgage? Is it better to talk to a lawyer or an accountant? The investment property is in Florida as well as the main residence. Thanks.
Property prices Florida USA.? My Mum has the opportunity to own a property about 5 minutes fromSatellite Beach in Florida. The property is lovely and wouldn't be too difficult to rent out. 3 years ago it was worth in the region of $410,000. A $90000 deposit was put down and my Mum would be taking on a $310,000, 33 year mortgage on it which works out at about $2000 a month. It can rent out for $1400 a month My Mum who is based in the UK would take this property over from my uncle who owns several but wants to offload a number to ease his financial strain. She would also have to give him £7000 up front for him. Do you think this would be a good investment considering a) initial deposit put down b)mortgage already sorted c)decline in property prices (it would have to be at least $310K now) d)length of mortgage e)would still have to pay some of mortgage even if it's rented out. My uncle believes it to be a good investment.If anyone could give some impartial advice I'd be grateful. My uncle has already put $90K down as a deposit 3 years ago. So technically if it hasn't gone down by 90k my Mum could sell it straight away and make a profit as long as it is more than the £7000 she has to give my uncle. Also the $2000 monthly fee covers everything (ie maintanance, insurance etc...)
Which is a good subdivision in TAMPA and ORLANDO Florida? I want to buy a house/Condo? Dear friends I am looking for a Condo / House in Tampa or Orlando. Investment Property. Price range in 150k - 175k and not more than 5 years old construction. Which subdivision I should look for ? Please advise.
i live in Florida and due to taxes buying a home right know is ridiculous? what state is good for me purchase an investment property (vacation home) where the taxes is not that high.
How can I invest in cash only rental property not with cash but using a loan? I live in Los Angeles looking to buy rental property in Florida. I'm looking at small investments (under 40,000) to then rent out. How can I take out a loan so I don't use all of my own money? (Cash only sellers will not wait the period it takes to secure the loan . . . ).
How can I offload my property without damaging my credit? I bought an investment property in Orlando Florida about 2 years ago. Initially invested $60,000 into the property and due to declining values property is now worth 170k, I owe almost 300k. I have 780 credit scores though my income has gone down from about 130k to 80k yearly. I have had no payments and am current with all 3 of my homes. Should I hold on to this property? I am paying $2,000 monthly and getting $800 from rent. Is there any way to give the property to the lender without damaging my credit? It is countrywide and they will not modify an investment property with no late payments..Any advice? I have had no late payments and want to get rid of the property asap? Foreclosure,short sale? any other options? my primary home in california has about 80k in equity,and my 2nd home in ft lauderdale florida is also upside down.
should I buy a home in Florida, Ca., or the Carolinas? I am looking for a winter home in the $250,000 - $450,000 price range. I am looking for a long term investment property. On or very near the water with 3 bdrms, 2.5 baths. Must be in move-in condition and very low maint.
Quit Claim Deed Properties to Las Vegas Corp? I live in IL and own 6 Florida Investment properties. I have a Las Vegas C Corp, in which my accountant is acting as nominee to keep my name from being attached. I plan to use the LV Corp to only hold assets. Can I file all of the quit claim deeds in Las Vegas? Will this information be posted to a national title database that will show the LV Corp as the owner?
I need tips on how to purchase Florida Investment Property.? I am considering to purchase Florida Investment Property and need someone to guide me on how to go about it, please.
Does anyone know of a Real Estate Investor group other than Marshall Reddick located in the Northeast US? I have investment properties in Orlando Florida (one of the most attractive destinations in the US) I would like to find a group other than Marshall Reddick that is in The Northeast rather than the Southwest. Any suggestions?
Real Estate Investment? Is anyone here aware of any real estate company that does investment properties in the Ocala florida area. Someone told me that they did some pre construction properties with very little money out of pocket. The office should be located in south florida, because I would like to go in and meet with someone asap. Thanks for any advice in this area.
Short sale vs foreclosure in Florida? What's better? My investment property is in foreclosure stage. I'm planning to short sale it. Will I have to pay taxes on the difference I owe to the bank? How much? What does it depend on whether the IRS sens from 1099 or not? May be I should rather let the house go into the foreclosure? What's better in my case? Thanks
Anyone in the UK interested in investing in the US realty market? I am looking to meet UK citizens or investment groups who are interested in investing in Off-Plan holiday property in Florida, USA. Can anyone tell me of investment groups or individuals that they know who would be interested in Florida realty investments?
should i strip my home if its going into foreclosure? I live in Miami florida and I'm trying to shortsale my 2nd home and Investment property...Less than a year ago I bought a new fridge and dishwasher for the 2nd home...If i cant shortsale and it is going to go into foreclosure should I take the dishwasher and fridge??? Does it really make a difference being that its in foreclosure or is this not a good idea?
i quick deed my house to a investment company? I made a agreement with a investment company for my house i own. They paid me 15k and would make payments for 1 year, at the end of 1 year they would pay off the loan. However its almost 8 months past the commitment date of transfering the house loan out of my name and into theres. I quick deeded the property so the house is in there name from the county but loan is still in mine. We agreed on written documents that we all signed at closing that the house would would be out of my name and loan paid for my 12/31/2006 . its now almost august. they have made multiple late payments dropping my credit score over 70 points since 12/20/2005. since they are in breech of contract can i take back my house legally?? anyone know what paperwork i would need to file? the property is in florida. Thanks for any assistance Well, i didnt sell it for 15k, the agreement shows 155,000 is the purchase price of the property. the 140 i owe and 15k to me. the agreement was to allow them to make payments for 1 year while they fixed it up and by 12/31/2006 the house loan would be paid and transfered out of my name. Thats the paper work we signed at closing for it. Your right i do need a lawyer i just to have the money for 1
Thinking of walking away from a mortgage? Hi all, I own an investment property in Florida. It is currently rented out with a lease expiring in October. I have substantial negative equity (approx $100k) and also have substantial negative cash flow of about $800/month. Both me and my wife are listed as owners and are on the mortgage. We both have perfect credit. But the monthly negative outflows are a major drain and we are thinking of walking away. I was wondering if any one is familiar with the specific repurcussions of doing this and also what might be some strategies to minimize the impact to our credit. One thing I was thinking of was placing the mortgage in only one of our names so that only one of us would suffer a bad credit rating. Any advice would be useful. As a side note, we plan on staying in our primary home for another 5 years. We might need a mortgage then. Many thanks for your advice!!!
Renting house / Rental insurance and mortgage rate question.? I own a house in florida(seasonal property) that I am going to rent out. When I switch over my insurance to rental insurance will they notify the bank that I have my loan with or do I do that? And will the bank adjust mymort. rate because it will now be considered investment property? how does this work? what are the steps I should take with insurance & my bank? Thanks for your help!
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would a foreclosure affect my other homes? I own 3 houses. my primary is in California,2nd home in ft lauderdale florida, and investment property in orlando florida. I am current with all of my payments on all properties and have 780 scores. cannot modify investment property because of it not being primary. I owe 300k its worth about 175k. I cant hold on much longer before I default. If i were to let the lender foreclose can it affect my other 2 homes?WHat are my options as far as letting it go?
I was given an inflated real estate appraisal. What can I do?My sales price was based on it.? I purchased an investment property last year whose price was based around an appraisal which I now believe to be inflated. In looking at other appraisals, the numbers used are very different. They used $4500 per full bath and my other appraisals used $10,000 per bath. I believe this company inflated the "comps" current value to inflate my value and then my sales price. This happened in Cape Coral Florida. Please serious answers by professionals only. This is one of 5 errors I have found on the report.
Buying Condo in Florida? Orlando or Tampa/Clearwater? VALUE FOR YOUR MONEY. Places that are high crime and should avoid? Good investment property? Spending under 100k and I want that wow affect. The feeling and being somewhere tropical and clean?
What is the rental frequency for Florida Keys luxury homes (I'm considering buying one to rent out)? I am considering buying a house for investment purposes, and I'd like to find out how often I could expect to be able to rent out a waterfront home in the Florida Keys as a vacation rental. Ideally, the source of this information would categorize by size of property, or average rental fee, so it would be easier to determine, for example, if buying a 2-bedroom house to rent out is better than a 4-bedroom house. Thanks!
Going into foreclosure? I live in Florida and an investment property is going into foreclosure. Is my primary home in danger? The primary home has Homestead.
Am I criminal too? If I used unethical money.? Hi I had a friend (James) who was a mortgage broker also a investor. Year 2006 we purchased property in Florida. He told me that would be a good investment property. About six months later he asked me to go to settlement because we have a buyer. He also mentioned "We will make $150K each." I Said "How come. In six month?" He goes "Dude I told you it is a good investment property..." and we had a settlement and I made $150K. After couple months he was caught by FBI for other crimes. Now he is in federal prison. Problem is that the property we bought and sold in Florida, he (James) inflated value more than $400K by using false appraiser. (*some reason he controlled buyer's loan application also hired appraiser by himself. Appraiser was conspirator too.) Believe or not I didn't know any thing about that. Now I realize that it was a mortgage fraud. Luckily? - James was not charged about this fraud. But the person who bought a property (Victim) tries to sue James and appraiser and all the conspirators. Here is my question. As I mentioned earlier I didn't know anything about that mortgage fraud. But I received $150K and I used it already. Am I going to be safe from crime and civil action? Or am I responsible for buyer's loss? Please help. Thanks
Am I criminal too? If I used dirty money without any knowledge.? Hi I had a friend (James) who was a mortgage broker also a investor. Year 2006 we purchased property in Florida. He told me that would be a good investment property. About six months later he asked me to go to settlement because we have a buyer. He also mentioned "We will make $150K each." I Said "How come. In six month?" He goes "Dude I told you it is a good investment property..." and we had a settlement and I made $150K. After couple months he was caught by FBI for other crimes. Now he is in federal prison. Problem is that the property we bought and sold in Florida, he (James) inflated value more than $400K by using false appraiser. (*some reason he controlled buyer's loan application also hired appraiser by himself. Appraiser was conspirator too.) Believe or not I didn't know any thing about that. Now I realize that it was a mortgage fraud. Luckily? - James was not charged about this fraud. But the person who bought a property (Victim) tries to sue James and appraiser and all the conspirators. Here is my question. As I mentioned earlier I didn't know anything about that mortgage fraud. But I received $150K and I used it already. Am I going to be safe from crime and civil action? Or am I responsible for buyer's loss? Please help. Thanks
Am I criminal too? If I used dirty money.? Hi I had a friend (James) who was a mortgage broker also a investor. Year 2006 we purchased property in Florida. He told me that would be a good investment property. About six months later he asked me to go to settlement because we have a buyer. He also mentioned "We will make $150K each." I Said "How come. In six month?" He goes "Dude I told you it is a good investment property..." and we had a settlement and I made $150K. After couple months he was caught by FBI for other crimes. Now he is in federal prison. Problem is that the property we bought and sold in Florida, he (James) inflated value more than $400K by using false appraiser. (*some reason he controlled buyer's loan application also hired appraiser by himself. Appraiser was conspirator too.) Believe or not I didn't know any thing about that. Now I realize that it was a mortgage fraud. Luckily? - James was not charged about this fraud. But the person who bought a property (Victim) tries to sue James and appraiser and all the conspirators. Here is my question. As I mentioned earlier I didn't know anything about that mortgage fraud. But I received $150K and I used it already. Am I going to be safe from crime and civil action? or am I responsible for buyer's loss? Please help. Thanks
Florida Vacation? I was offered a vacation for $485. All I have to do is listen to a 90 minute sales pitch for property investment. Rental car, hotel, admission to theme park included. Basically all I have to do is buy gas and food. Anyone ever do this I would like to hear from them. This was a telemarket call. the company was www.etourandtravel. Is it legit and is it high pressure?
Are timeshares a worthwhile investment? Pros and cons? I recently came back from vacation in Orlando, Florida and stayed at the Marriott Hotel. They have several hotels and are trying to have me invest in one. I'm thinking about it as I don't want to rush into anything. Property tax is $111 and maintenance fee is $633 which I feel is high. I would like to know about anyexperiences, good and bad people have had with this and what advice you can give me. Thanks! (THe timeshare is the Grand Vista in Orlando, a beautiful place and if anyone has a timeshare there, I'd like to hear about it.) The purchase price for a 2 bedroom 2 bath at Horizons is $18,100, initial investment of $1,810 and closing costs of $790, term 10 years. Monthly investment of $271. The one at Grande Vista is the same size for $25,400, initial investment of $2,540 and the closing costs of $935. I do like to travel and I'm at the age that I plan on spending more time vacationing at various places. I thought maybe this could be a great opportunity to stay at other timeshares in other cities, countries, etc. (The fixed rate simple interest note is 13.99%) I am torn and want to know for sure if this is going to be worth it for me. THey tried to "rope" me in that day but I told them something like this isn't something a person jumps into without some serious thought and looking into. Thanks for any more help you can give me! The monthly cost at Grand Vista is $376
Properties abroad? I have heard that the Chancellor is proposing to tax individuals on any properties they own abroad. Is there any truth in this and if so how does he propose for it to work? I'm considering purchasing a property in Florida as an investment, this may if true dissuade me.
buying a house in florida? We are renting in Virginia for next two years and thinking of buying a house in Florida since the market is right. Florida is our homestate and we are in the military. Can we buy a house in another state as a first time home buyer? we are not going to rent it but spend the holidays and summers there for now. Or is it has to be bought as investment property? thanks!
investment property? one block from a full acces beach in biutufull emerald coast florida this property is seatin on a VMU lot 3 and 2 with a big lot in the back this house is value at 2.5 and is selling right now for 1.8 this area is developing all around in a yera this property will go up at least 20% no more land around here need the money to put my kids thrue college .exelent place for retries big parking for RV one block from the beach higt and dry thank you god bless.
Looking for investment? Looking for any advice for where to invest in property. I invested in a house in Kissimmee Florida in 2001, the property value soared there but it's starting to decline now and I am going to sell off. I am now looking for a new area that is going to boom. Any advice is appreciated. Thank you!
Need help selling beach front Caribbean property!? My wife and I bought a beach front property on a small Caribbean island off the coast of Honduras and now (due to some bad investments) we are forced to sell. I allowed my wife to handle the selling of the land and she signed a contract with a real estate agent on the island to sell our property. I don't think the agent is very good at all, but we have a contract with her. What can I do now to help the selling of the property? We bought it because it's not far from Florida and it wouldn't cost us very much to visit our children once we retired. Right now it only cost 500 for a round trip ticket.. We loved the idea of being able to retire to a tropical island and not have to spend an enormous amount of money to live there.. Unfortunately our dreams have been seriously sidetracked so we are being forced to sell.. I don't want to wait more than a year to sell... so how can we speed up the process??? Help! THIS is the (sorry) online listing: http://www.roatan-caribbean.com/listing.php?id=170 We are VERY disappointed with our agent's "work".. We asked her to put up the pictures of the beach we gave her, and she agreed to, but it's been over a month and still no pictures... We keep getting dumb excuses like: " It takes time to post the pictures" and " We are working on it." ARGH!
Canadian buying Condo in Florida what do I need to know? Im thinking of buying a condo in Florida as an investment an future winter home, is there a lot of red tape invloved I know you dont need a lawyer and you use a title company? What about trying to rent it , should I use a property management company or try and do on my own via the net, friends ,ect. any advice would be greatly appreciated
Is it true that Obama has told many lies and nobody cares? Want a source? Read his books! Most of it is in there!
Property in Arkansas? I am looking at a piece of property in Northern LA. The price is right, in the country, public water, near a lake, 2 acres , very sparsley populated, for 8000. I know that 30 yrs ago you could buy something like this in Florida for around this price and now sell it for 150 thousand plus. Would this be a good long term investment, or will Arkansas, especially way out in nowhere not become as prosperous as Florida has?
Can a lender put a lien on an LLC? Florida. I am losing my shirt on a real estate investment. Should I put all my assets (and properties) in an LLC and let the lender foreclose?
Does this plan make sense.? Im a soon to be real estate investor thats thinking of a plan for the purchase of my first real estate investment property. In a year i will be going up state florida (gainesville) for college. My plan is to purchase a home that's located in a desirable neighorhood in gainesville that needs some work done. Work like fresh paint, landscape, flooring.Once i've purchased that property i plan to occupy it for 2 years so i could advantage of the capital gain tax. and the appreciation once all the work i've done is completed. The value should go up and i hope i can sell for a significant profit. Any comments?
Should I sell my land and condo? I am in dire straits. I have bought two properties in 2005. I bought 1.6 acres of land for 38k and a condo for 100k. Both of gone down in value. My condo is located in st petersburg florida.(selling for 105k) My land is located in ridge manor florida.(selling for 42k) Been trying to sell both properties for a year now without any buyers. Too much on the market and the market is flat in florida. Shoudl I hang on for the next year? Or just reduce the price and sell and take a loss? I swear I will NEVER buy property again! ITS BEEN A NIGHTMARE! So many greedy real estate agents/brokers trying to get me into these properties telling me they are such great investments. Well now i want to go to law school and I cannot even sell them!! Im angry. Two things I have learned: 1.) Dont buy real estate if you cannot COMFORTABLY afford mortage payments along with RISING taxes and insurance. 2.) Dont buy unless you can sell property quickly. I need some suggestions? Should I take a loss? Hold on?
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