Joined
·
30 Posts
Three years ago I bought a Toronto condo on paper, that was going to be constructed by today but they kept extending and now they are unable to finance the project so I had my lawyer get my deposit + interest back. The condo was for 210k and my down payment and initial deposit added to about 35%. With my saving and with my money back I now have around 100k to invest on real estate.
Right now properties in Florida are very cheap and some in great locations surrounded by golf courses and tennis courts and 30 minutes from the beach. They go for $50,000 and $60,000 so I could buy one and with the remainder, lets say $40,000 I have left over invest in a Toronto property. Then I could spend 6 months in Toronto and another 6 months in Florida.
I was wondering if any Canadians here own property in Florida. What are your experiences?
ps> The reason the property is that cheap is because it's bank owned and you have to pay 100% downpayment and therefore it only attracts buyers who can afford it.
Thanks!
Right now properties in Florida are very cheap and some in great locations surrounded by golf courses and tennis courts and 30 minutes from the beach. They go for $50,000 and $60,000 so I could buy one and with the remainder, lets say $40,000 I have left over invest in a Toronto property. Then I could spend 6 months in Toronto and another 6 months in Florida.
I was wondering if any Canadians here own property in Florida. What are your experiences?
ps> The reason the property is that cheap is because it's bank owned and you have to pay 100% downpayment and therefore it only attracts buyers who can afford it.
Thanks!