Foreign Investors (and what they should know)

Today we talk with James A. Schmidt, Esq. about foreign investors and the things they should be aware of when investing in the U.S. and Florida. Foreign buyers need to take special precautions to ensure a smooth investment process.

Foreign investors need to learn the market, get good advice, and build a team that consists of:

brokers

property managers

laywers

accountants

and others who can deal with zoning, property inspection, and possibly engineering

It’s particularly important for the foreign buyer outside the country to have people local to the area that they can trust who can help them execute whatever goals they have on a particular asset that they are purchasing.

Key Discussion Points

[05:48] About our guest: James A. Schmidt

[11:54] What are some things foreign investors need to aware of when investing in Florida

[14:19] Explanation of FIRPTA (Foreign Investment in Real Property Tax Act)

[18:22] When a foreign investor comes to you, what is the process to ensure everything is properly executed and that the transaction and asset is properly managed?

[22:07] What are the problems you see with the standard Florida Real Estate contracts?

[25:00] Are there any issues that are important to lenders when dealing with foreign investors?

[28:59] Discussion about the FAR/BAR contract (Florida Association of Realtors and the Florida Bar Association)

[35:00] How can people contact you?

[36:15] Closing remarks by Eric and Steven

About Our Guest

James A. Schmidt is the founder of the Tampa law firm of James A. Schmidt, P.A. He practices in the area of business, tax, and real estate law. James actively represents a global client group in the Florida and syndication markets.

James belongs to an international network of professionals, which is a useful platform for his global client base that is interested in investing in the U.S., and more specially Florida.

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Residential Property Management

With the cap rate compression environment that we’re in right now, it’s more important than ever for multifamily investors to be creative about how they add value in order to increase rents and get a good return on their investment.

In this week’s podcast, we talk with James Donnelly, Founder and CEO of Castle Group, which focuses on residential property management. James discusses the 3 main strategies he employs to add value to his company’s investments and deliver top level services and amenities to a new generation of every more demanding residents.

The 3 main categories James discusses to add value to an investment is:

Traditional value-add – e.g. painting, putting in a new floor, or adding new amenities
Technology – using technology to make you not only more efficient, but also using that as a revenue stream
Better management and service

Join us for this podcast as James gives his investment advice and his take on the multifamily market in Florida.

Key Discussion Points

[04:48] About our guest: James Donnelly

[06:28] How did you get started in Residential Property Management?

[11:29] How did you end up in South Florida?

[14:40] Where do you see the multifamily market going?

[18:36] What cap rates are you seeing around Florida?

[23:27] What are some of the other value-add plays that are emerging right now?

[25:33] What common mistakes do you see property managers or others making?

[31:09] How can folks contact you?

[31:53] Summary of where we are, where we’re headed, & what you would tell someone who’s calling about a deal in Southease Florida

[37:42] Closing remarks by Eric and Steven

About Our Guest

James Donnelly is the Founder and CEO of Castle Group. He has over 30 years of experience serving residential communities in managing residential properties. James is a CPA, general contractor, investor, and prominent speaker in the industry. He is very active in the community and benefactor of numerous philanthropic organizations.

Most recently, James, received the Sun Sentinel’s Excalibur Business Leader of the Year for Broward County as well as the 2019 Terry Stiles South Florida Leadership Award presented by the Greater Fort Lauderdale Chamber of Commerce. He has also been recognized in the South Florida Business Journal as one of Broward County’s Ultimate CEO’s, was inducted in 2014 into the Hall of Fame at Nova Southeastern University’s H. Wayne Huizenga School of Business and Entrepreneurship and was honored by Palm Beach Atlantic University in 2017 on Free Enterprise Day as a Companion Medalist.

Website: castlegroup.com
Phone: 800.337.5850