Tag Archives: foreign investing

Ep 87 Tom Blazejack: Miami Real Estate Market Overview

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business-portraits-009Things are happening in the Miami real estate market… Well things are always happening in the Miami real estate market, but BIG things are happening right now. Miami has long been the focal point for real estate investors due to the density and scale of development and the investment opportunity for a variety of asset classes. Real estate investors all over Florida have looked towards the Miami real estate market as a forecast for current and future conditions throughout the state.

Tom Blazejack, of Blazejack & Company knows all of the ins and outs of the Miami real estate market. In addition to nearly 40 years’ experience as a real estate appraiser and analyst, Tom is also a native of Miami. Tom’s extensive appraisal knowledge of commercial and residential properties and intimate knowledge of the Miami real estate market make his consultation highly sought after by investors. This episode, Tom gives us an overview of the Miami real estate market, including development highlights and what investors should expect.

Miami Real Estate Market

  • 2011 purchase of Miami Herald building for $236 million marks return of market
  • Foreign investment and cash-heavy market
    • Foreign investors seeking stable properties to invest cash
  • Development spikes
    • New deposit requirements for investors and developers insures accountability
    • Lenders alleviating construction loan costs for developers
    • Projects moving quicker
  • Land price increases
    • Miami seeing $200-300/sqf on new commercial developments but even as high as $3000 in some prime locations
    • Residential continues to increase… up to $3/sqf in best projects
  • Emerging Markets
    • Development spreading into surrounding Miami
      • Little Havana, Wynwood, Coral Gables all seeing new projects
  • Major Projects

To contact Tom with for an appraisal consultation or for further analysis of the Miami real estate market visit his website. He can also be emailed at tom@blazejack.com

Ep. 73 Colin Murphy – This Investor Manages a Large Florida SFR Portfolio from Madrid, Spain!

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Colin Headshot Jan2013 croppedFlorida has long been known as a great real estate market for foreign investors. Commercial and residential markets both represent favorable investment markets for foreign capital. While investing in real estate outside of a county or state may seem a daunting task, this week we talk with an investor who grew and a successful SFR portfolio out of another country!

Colin Murphy is Director and Co-founder of Torcana, Ltd. an investment firm specializing in single-family properties in Florida. With over ten years’ experience behind him, Colin has grown Torcana into a leading name in Florida SFR markets and he was able to do it all based out of Madrid, Spain. This episode, Colin shares with us some tips for building a successful foreign real estate investment portfolio.

5 Must-Haves for Foreign Investors:

  1. Standard Contracts
    1. Avoid unnecessary and overly complex contracts
    2. Standard Realtor’s Assn. contracts offer foreign investors easy-to-understand terms
  2. Title Companies
    1. Foreign investors new to U.S. and FL markets may be unfamiliar with title companies
    2. Title companies ensure a clean title transfer in a real estate transaction. They run a property’s title against any outstanding liens and unpaid fees.
  3. Closing Costs
    1. Closing costs on U.S. and FL real estate is comparatively less than that of markets outside of the U.S.
    2. Despite the relatively low closing costs, foreign investors still need to be aware of what they are paying for
  4. Post-Closing
    1. Follow-up is needed after purchasing a property
    2. Find the right insurance coverage for your investment as well as establishing a property management plan
  5. Taxes
    1. All U.S. real estate is subject to taxes and returns must be filed on them
    2. County tax collector searches can be an easy way for foreign investors to keep track of their portfolios’ taxes

For a more comprehensive approach for foreign investors, check out Colin’s list of 20 things to know for real estate investing:

20 Things to know

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Colin also suggests Rich Dad Poor Dad, by Robert Kiyosaki and Millionaire Real Estate Investor, by Gary Keller, Dave Jenks and Jay Papasan for beginning investors

For more information from on Torcana‘s services or for investing opportunities, contact Colin: Torcana’s website, LinkedIn, or Bigger Pockets

 

Ep. 68 Kevin Walsh, CPA: Proper Structure of Your Property Business Can Save Taxes, Plus New FIRPTA Rules for Foreign Investors

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MIts tax time again. Although filing taxes can be a tedious and frustrating time for many Americans, real estate investors fall into particularly complex categories. Knowing the structure of your property business can save time and money when it comes time to file.

Kevin Walsh, CPA is an expert on all things real estate when it comes to tax structures and filing. A founding member of Atrox Partners accounting services, Kevin has over 15 years experience specializing in real estate, providing consultant services for investment and brokerage firms. This episode, Kevin discusses the importance of structuring your property business to maximize your tax returns. Kevin also discusses big changes coming to foreign investing in U.S. real estate.

Real Estate Filing Structures:

  1. Business of Real Estate
    1. Realtors; Brokers; Industry Servicers
    2. Most favorable tax structure
  2. Investor
    1. Applicable to small and large-scale investors
    2. Subject to loss-limitations ($3000 max)
    3. Capital Gains/Losses advantages and disadvantages
  3. Dealer
    1. Fix-and-Flip deals; high frequency of deals
    2. Gains taxed as ordinary gains; not offered Capital Gains/Losses filing structure
  • Tax Tips for Investors
    • Knowledge is Power – Planning for your taxes is imperative. It is best to consult an expert to ensure the proper tax structure
    • Documentation – Filers need to verify they are filing within the appropriate structure; provide proof of your property business
    • Preparation – Prepare for taxes early…know your filing structure…certain filing limitations begin at close of each tax year

Foreign Investing:

  • Protecting Americans for Taxes Act, 2015 (PAFT)
    • Revisions to previous FIRPTA, outlining terms and stipulations for foreign real estate investors
    • 2 Provisions: 10% sur-tax on foreign investors abolished; 5% allotment for foreign investors now increased to 10%
    • Poised to bring influx of foreign capital into U.S. markets

Contact Kevin:

info@atroxpartners.com

Ep. 65 Jerome Abecassis: Foreign Investor Makes Headway in the Florida Real Estate Market

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774cdb_ef326029dd18403e9c811822ec200c54Those who know the Florida real estate market know the influence of foreign investors. Foreign capital, especially in South Florida, has fueled real estate development in the state. Despite its slight recline with the growing strength of the US dollar, foreign investing remains a big part of the Florida real estate market.

Jerome Abecassis, a native of Paris, France now residing in Florida has made a name for himself and his company TIJ Group, LLC investing foreign capital in the Florida real estate market. Moving here in 2003, Jerome began investing in South Florida real estate and quickly established TIJ as a leader in foreign investing in the Florida real estate market. TIJ now owns and manages 200 units in South Florida and owns 160 units in the Detroit, MI area. This episode, Jerome shares his unique approach to investing and gives an outlook on the Florida real estate market.

  • Florida Real Estate Market
    • Foreign investing returning post-financial crisis
    • American markets seeing higher returns on investments than foreign markets
    • Market growing
    • South American investing strong in South Florida market
  • TIJ Properties and Investing Strategy
    • Distressed/Mismanaged properties
      • Code violations; in need of repairs
      • Handle repairs and assume property management responsibilities
      • “Detroit is Miami 10 years ago”
    • Cash-on-Cash Deals
      • Investor chooses stake
      • TIJ partners in investment
      • No traditional financing used
      • Network of brokers scout properties
      • Word-of-mouth investor base
  • Tips
    • Be wary of deals that seem too good to be true; no such thing as the perfect deal
    • Stay where you are comfortable; don’t over-diversify your investment portfolio
    • Always inspect property before buying; know the area and tenants

Want to know more from Jerome/TIJ Group?

Contact Jerome by

email: libertymiami@hotmail.com

or phone: 786-277-4163