Dear all,

Given the exchange rates etc and all that is happening its obviously a good time to buy property in the US.

Ive been out a few times this year and identified a couple of very good deals in the Florida, Orlando region (the best rental returns also). The situtaiton there is very difficult with foreclosures and short sales etc making buying anything complicated and takes a long time.

I have been offered one of the properties yesterday and was wondering if
anyone fancied some sort of investment club to make a purchase or two?Between a few people these houses are not expensive whatsoever.

My feeling is that even if the house prices stayed the same over there, you can make 20%-30% just on the exchange gain..

FAQ

"Monkeynut, if it such a good deal why arent you doing it yourself?"

Well, i am , i have just finished buying a furnishing a property on the same resort and have already seen a substantial rise in value just by getting ready. www.legacyviewreunion.com

"Monkeynut, why should we bother? I mean you have a funny name and i dont trust you?"

Well,who can you trust these days, its a grreat deal, not a huge risk and due to Florida being the most visited place on earth the rental returns will comfortably pay back 8-10% while the asset appreciates all the while. All for a similar price of a car parking space in Geneva. Plus you have the added bonus of a free holiday home!

More details by Pm etc but i look forward to your questions.

i've been thinking the same thing for a while, but was not convinced the timing was quite right. however, i'm interested. can you email me?

sure will do, im pretty comfortable with the timing re excahnge rates and even more comfortable with the housing situation as i have been monitoring it for 6-8 months and seen it go from 250+ houses on this resort for sale to about 30.. and people are scrabbling over the last lot and pushing the prices up..

anyway will send a mail now.. where are you in Switzerland?

How about we chip in to buy this one:

http://cgi.ebay.com/Tesoro-Estates-G...d=254206748312

This same lot sold for over $500,000.00 in 2006 is going now for $29,900.00!!

Hi Monkeynut,

So funny you bring that up. We have family in West Palm, FL and we just spoke to them last weekend asking them if it made sense to invest in a property there to take advantage of the property prices and also the Forex rates. I would be very interested to evaluate an opportunity like this. Can you please send me some details through PM?

Thanks,

Stig

Plöease send me details too.

you should all have pms now? anyone didnt get one let me know.

Just one thing regarding the cheaper properties, the ones i have sent out are on the premium resort in orlando, gated, secure and with excellent facilites. And close to Disney which helps. And in my opinion the ones that are little to rise in value most and quickest.

There may be slighly cheaper ones out there but on ungated non resort places which will neither rent out as well nor appreciate as well

cheers

It's the monthly charges in gated communities that worries me.

have you looked at the costs of fixing/repairing? property management? Prevailing rental rates?

If you're really into it, you can buy my house outside of DC. I'd love to get it off of my hands.

its around 400 a month on this one, but that includes gardening, cleaning all exterior areas and a weekly pool clean and all the security etc etc so its pays for itself with the rentals really as when i go i know i would rather stay on a 24hr manned, gated resort. Good point though

Sites you should be looking at:

http://www.homepath.com/

http://www.homesteps.com/

http://realestatecenter.bankofameric...ges/map-search

http://www.indexpost.com/

I'm actually buying RE but not as an speculative investment but for its yield, even after taxes its not that bad. If you believe you can make money on FX, don't invest in RE, go short on the CHF... good luck!

they are all good, but what im trying to acheive is to narrow it down a little and my experience of going out to these specific places and knowing where they are..there are a few dodgy areas etc.

the specific thing with florida is that it rents out a lot and with so much to do there it shoudl always be the case.

my opinion re the Forex is that you may as well invest in property in USD and then you gain both ways!

The link to the property for sale you sent does not work. Thanks

Maybe I can turn this into a business when I hit Tampa later this month.

Helping International buyers hook up with properties etc......

any thoughts, decisions anyone? potential 50% investment secured so far

nearly open in US and things need to move qucikly to secure the best deals

cheers

thanks. i'm definitely interested but the timing is not right for me. let me know if you have other targets in the future. i'd also be interested if the deal could be leveraged with a mortgage (say 50%).

it is possible to get a 65% mortgage (i have been pre qualified for etc and have the forms) so if that something that interests anyone that can be done too. im happy to put it in my name and i would expect rental income to cover repayments fully and more..

edit: being a cash buyer is a preference for the bank at the min though and is easier to get a dicount too..

How is the building maintained and insured? How can it be a free holiday home if it's occupied? And roughly how much investment per person are you looking at? Ball park figures.

I know you said to PM, but hey. I'm a public person

ok, well it is maintained by your homeowner fees.. they take care of everything outside the home, pool, plants and communal areas. (on this resort there are several pools dotted around people can use) This is about 400 US a month,
You instruct a property manager to act for you which is USD 75 a month and they take care of the inside, replacing lightbulbs etc etc

insurance is around USD 1,000 a year

it is full of short term rental.. families going to disney mostly for 1 or 2 weeks. The beauty of florida is that its busy all year round.
But as with anywhere its unlikely to be full 100% so you simply block the week you want to use it.

my idea would be for a property of say USD 240,000 that a minimum investment would be USD 24k which would entitle you to 1 weeks stay. Which obviously a USD 48k would be 2 weeks etc. Roughly speaking

yeah I pm'd but I'd be interested in some ballpark numbers MN, send by PM if you wish.