Endvestors are Canadian investors who are snapping up deeply discounted bargains south of the border in Florida with the intention of renting them out until they retire many years in the future, in some instances.
These individuals realize that if they do not acquire a foot inside the Florida waters right now, there exists a good possibility they will not be able to afford a second residence when they actually want one.
These investors are not people looking for quick flips. They are prepared to buy and hold. In fact, there are still many deals to be had. In many cases, properties are selling for less than it would cost to build them today.
But just as importantly, Canadians are finding an exceptionally strong market for rental properties, fuelled by the thousands of Floridians who have lost their homes and cant qualify for mortgages.
That combined with a strong dollar and low interest rates has convinced many Canadian home buyers that buying in Florida is not only a sound investment but a sure retirement plan even if means having to file taxes with the dreaded Internal Revenue Service.
Florida Home Finders holds regular seminars for Canadians wanting to buy in Florida and estimates are that 75 per cent of Canadians buying now plan to rent their properties out.
It is recommended a trust be created for any property over $100,000, which can add thousands to the upfront purchase price but save far more on estate and other taxes down the road.
Many hard-hit Floridians are now actively trying to list their homes specifically to Canadians. The demand by endvestors remains strong. It is a win-win situation for everybody involved. It is great for the Florida economy that Canadians are able to pick up good deals, and that the new Canadian property owners are offering Floridians, who cant afford a home, a place they can rent.
This article has been shared John Garrad Cole. You can find John by searching whistler real estate or real estate whistler bc.
