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In a recent episode, we spoke with an investor who managed a Florida real estate portfolio from outside the country. This week’s episode features an investor who runs a foreign investment firm out of his home-base in Davenport, Florida.
Garrett Kenny started building his investment portfolio in Florida after being introduced to Orlando’s vacation markets in 1996. Since then, he has built his investment firm, Feltrim, into an international name for foreign investment in Florida real estate, handling all aspects of the investment process. This episode, Garrett discusses foreign investment in Florida and hot real estate sub-markets in Orlando.
Foreign Investing in Florida
- Most foreign investors can expect to average 6% annual ROI
- Easy to find financing options, but many do cash deals
- Usually require more up-front from investor for financing
- 4-4.5% interest rates
- Some foreign investors use local banks and mortgage brokers
- Some financing may be available through institutions in home countries
- Brazil and China emerging as dominant foreign investors in Florida markets
- Foreign investors expanding portfolios in Florida real estate
Orlando
- 62 million visitors to Orlando area in 2014
- Diverse investment opportunity
- Vacation rentals, commercial and industrial markets
- Top 3 vacation rental areas – Championsgate, Davenport, and Kissimmee
- Medical + Technology – Lake Nona
- Long-term investing in 30 mi. radius of Disney
- Other hot sub-markets
- Distressed and repossessed homes
- “Class A” properties – Windermere, Winter Park
Tips on Foreign Investment
- Having a local knowledge of your desired market is key
- Find out about the area before investing
- Location, Location, Location
- Finding the right location for your investment is important
To find out more about Garrett and Feltrim’s services or about investing in Orlando real estate, visit the firm’s website
Garrett recently published a book, Buying and Owning Property in Central Florida available on Author House and Amazon