Fort Lauderdale Area Vacation Property Purchase

General Real Estate Investing
1

Hello REI Community,

I am requesting advice on purchasing a Fort Lauderdale Area Vacation Property in May 2011. [I am Canadian]

I am looking for a 3 or 4 BR Townhouse or Bungalow not too far from the beach/shopping/restaurants.

I have a $150,000 Budget and I will most likely be paying in Cash.

Any ideas, suggestions, warnings appreciated.

So far I have been finding properties on Condos.com and MLS.com

Any other resources to find properties or resources regarding real estate in Florida/Fort Lauderdale would be greatly appreciated.

Thanks for all your continued support.

2

Hi,

Are you intending to leave this vacant when you and your family are not enjoying it, or are you intending to make it available as a nightly or weekly vacation rental?

If you intend to make it a vacation rental you might want to look into management cost’s, housekeeping, additional insurance cost and project a reserve for repairs and replacements.

        GR
3

I would not like to rent the property when it is not in use.

I would however like to use it to send clients / family down (for their free use and my tax deduction - in the case of clients).

4

Would you consider a condo near the beach area? If so I recommend Hallandale Bch/Hollywood area which is about 15-20 min south of Ft Lauderdale. It has an extremely high concentration of Canadian (mostly French) investors and owner occupied. I know they have realtors and/or mgmt co in place handling properties for them. You can pick up good 2/2 condo’s for under 75K.

5

Thank You. I will definitely look into it.

Know any good agents in that area? Agents I have contacted over the internet do not seem to reply.

Taylor

6

Hi,

I know that the topic is quite old already but could you please give me some information about this area? 75K is definitely a good price for a 2/2 condo… are there any other special costs or taxes that have to be considered? I’ve only been once to Hallandele but from the photos I’ve found on the Internet, they have some quite good districts… the huge amount of Canadians is in any case a huge advantage!

Kind regards
Steven