BTL here or overseas

catoutthebag

AnotherJoe wrote: »

hang on a mo.

First you trumpeted how much better that was than what is pretty low risk P2P, and now all of a sudden its not so good and is a tiny operation with small overall profits?

Make your mind up. And I'm out.

In Engrish?

I laughed when the other guy talked of 6-8% returns on p2p when I showed him profits of x10 on my field of knowledge.

What was your point please, in Engrish?

contrivant

I'm American and my parents have owned property in Florida (both Miami and Panama City Beach).

There is no way on God's green earth that I'd put money into property there. There are too many negatives.

1. You don't know who the next president will be until November. The US could end up in another conflict and everything could go to !!!! again. I should also mention that Florida took a particularly hard hit in the real estate area when the recession hit.

2. There is not a high level of supply/demand. It's very much a "retirement state," so frankly, a lot of people die leaving lots of room for someone else. So you'll never get the amount of rent return that you would by buying somewhere else. That's also why the property is only $80k. My mom's house is worth more than that and she lives in Mississippi, for God's sake!

3. FATCA. You do not want to get involved with Uncle Sam in regards to taxes. I have to file them every year (and will until I die or renounce my citizenship) and it's literally the least favourite part of my year.

ETA: I almost forgot the most important one. Hurricanes! I've actually lived through a few (Katrina being the worst of those in Mississippi). At best, you'll pay high premiums, at worst the house will be completely destroyed and you won't have had insurance.