Hoping that someone can shed some light on my dreams...
I was playing with the thought recently to buy a property in south west Florida considering the market there right now. Nothing really fancy, somewhere around 200k and this would be financed with a mortgage loan. I'm sitting in europe and this would be managed by a property management company.
After reading some horror stories of long distance landlording the revelation came quickly that probably the best way avoiding most of the troubles would be a new or newer property.
Oh, I consider this as a long term investment, meaning that in some day (20+ yrs) I'd be able to retire there and enjoy all the benefits of the area. Well - I have no crystal ball so no idea if that's really gonna happen, but that's certainly the plan.
I have a couple of questions as well, somewhat disorganised, but I hope you can cope with it:
- condo (in a posh neighborhood) or SFR (in a golf course)?
- can I trust a prop mgmt company handling a new property?
- should I have a real estate atty to cover my *ss?
Chances are that details are missing so feel free to ask if you think it helps to create a comment on my post or answer any of my questions.
Thanks for all your inputs.
86
I was playing with the thought recently to buy a property in south west Florida considering the market there right now. Nothing really fancy, somewhere around 200k and this would be financed with a mortgage loan. I'm sitting in europe and this would be managed by a property management company.
After reading some horror stories of long distance landlording the revelation came quickly that probably the best way avoiding most of the troubles would be a new or newer property.
Oh, I consider this as a long term investment, meaning that in some day (20+ yrs) I'd be able to retire there and enjoy all the benefits of the area. Well - I have no crystal ball so no idea if that's really gonna happen, but that's certainly the plan.
I have a couple of questions as well, somewhat disorganised, but I hope you can cope with it:
- condo (in a posh neighborhood) or SFR (in a golf course)?
- can I trust a prop mgmt company handling a new property?
- should I have a real estate atty to cover my *ss?
Chances are that details are missing so feel free to ask if you think it helps to create a comment on my post or answer any of my questions.
Thanks for all your inputs.
86