Buying Property in the USA

Hi. I don't know if anyone is interested in this or not but I just thought I'd share our experiences as I didn't want anyone to miss out.


Nearly two years ago we bought two condo's in Florida.. one near Kissimee and one near the beach in Tampa.. we bought them as 'armchair' investment, so we have never visited them or intend to visit them.


Being a bit of a sceptic I actually had a friend who was in Florida to visit one of them as I wanted to make sure the company I was dealing with was legit and the condo actually exists. I'm delighted to say they were and it did...


We bought our condos for roughly £40k each and the previous owner paid over $200k for them.. This is no lie.. although I found it a bit calculated, buying from other peoples misfortunes.. these type of properties were out there in their thousands... I say 'were' as the forclosure market is nearly drying up as the USA turns itself around and people are regaining employment and able to keep their properties.


We have earned approx $18,000 dollars in one year in rental income from these properties.. our's are only 1 bedroomed so obviously you can earn a lot more. We actually get approx half of this amount as they have management companies looking after them, housing association costs, insurance etc. etc. but clearing $9,000 on the initial investment is much more than we would have ever earned here in the UK and the capital growth potential is huge....


that is why we bought them - for the capital growth, and the income earned is a nice to have... we had to raise a mortgage to buy them so the lump sums get changed into pounds and pays off chucks of the mortgage... thereby reducing it...


If any of you want to know the company I used to buy with I'm more than happy to discuss it with you.. it's one of those things that you either want to do or you shy away from... but as people who have bought in France - I just wanted to share the above with you...


Not all of us are lucky enough to have good pensions to fall back on in our golden years... so it's just another option.


Christine


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