Investing in properties in the United States, what should be taken into account?

FIRST STEPS:

We recommend opening a corporation for the purchase of a property in Florida, whether it is a residential or commercial property, since, if the purpose of the property is to have it rented, when it comes to paying taxes on the profits received, you can do different things. deductions such as airfare, hotels, meals, property repairs, remodeling, etc., from which you as a natural person could not deduct. The second reason why we recommend opening a corporation is for legal protection.

PROPERTY PURCHASE:

Once you choose the property you want to buy, an offer is sent for it, if accepted, 10% of the property value is sent as an initial deposit and proof of funds with the remaining money being 90% showing that you You have the difference in your bank for the purchase and closing of this property.

• After accepting the offer, we entered into a CONTRACT, it has a property inspection date, between 7 to 10 days.
• During the inspection period of the property, a certified company is sent to inspect it and provide a report on how the property is, based on this report we continue with the contract or we withdraw from it (according to the inspection result).
• Many properties have a Consortium, which everyone who is buying has to be approved by it, these usually take a maximum of 2 to 4 weeks to give approval, it is in charge of seeing that you do not have any criminal record.
• The closing of the property or Deed is done with a Title company (Notary). In this process, once it is verified that the property is free of debt, all parties (buyer and seller) sign, the money is transferred, the deed insurance is generated and the keys to the property are delivered.
• If you cannot be at the time of closing or notarization in the USA, you can close remotely. In the USA, the person who buys is not required to sign in the original if he is buying in cash, but the seller always has to sign in the original since he is the one who is ceding the title to the property.

PROPERTY MANAGEMENT:

After the purchase it is important to have a Property Management Company. The goal of a property manager is to manage the day-to-day operations of the property and preserve its value by maximizing the NOI (net operating income). Property managers advertise vacancies, find residents, oversee building operations, set or adjust rental prices, and generate income for the property owner.

Maria Paula Rubin PA and Broker’s LLC is a concept One Stop Shop. We have a pool of professionals and services that will advise and accompany you in the pre-during-post sale. If you want to invest in a property in South Florida, do not hesitate to contact us.

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by CEDOC

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