I have just been in Florida and the markets are moving well. It is interesting that the time on market is a little longer than it was last last year. We are focusing on more expensive houses $160,000 to $400,000 because there are more owner occupiers who ca get finance in this range. I spoke to an accountant I know well in Texas and he says that the housing market has slowed there as well.

One reason could be that as the markets improve the banks are foreclosing on people a little quicker.

Because of the dollar dropping we are not recommending straight by and holds but buy and flip. I do think that new homes aimed at tourists is an option and we also focus on commercial property. The population is expected to grow a great deal over the next few years and I believe that Florida will continue with strong growth.

Hi Ben

You should have a look at the work we are doing

We are based in Orlando Florida I am here at present but will be back in Australia on the 24th May and would be happy to have a chat.

I agree that you have to be careful with how you deal with however unless you are prepared to invest a lot of your tie on the ground in one location you are frankly wasting your time. It is a bit like playing Russian Roulette because you have no idea how things will turn out.

I own a business in Florida and have a partner who lives in Orlando. I travel to Florida on a regular basis in fact I will be there for the second time in two months from the 6th May.

I believe that who you deal with will make all the difference. We do provide a complete service but work with our clients we help you buy and renovate and do everything from houses to buying hotels. Do you research carefully make sure whoever you are dealing with is based on the ground where you are buying. Because in many cases you are dealing with wholesalers.

Any houses we buy are fully inspected and assessed before we purchase them. Happy to provide more details

The fact remains that there are far better places to invest than Detroit. To me a state like Florida offers solid population growth and a stable economy. So why would you risk putting your money into Detroit?

I also spend a lot of time i Florida and have a full time business partner in Orlando who is fully licenced. Frankly there are a number of great places to invest in the United States including Florida and Texas. With 79,000 vacant buildings and a bankrupt city I cannot think of any good reasons to buy in Detroit. There are a lot of other places to make you money work so why take the risk.

Generally for tax reasons it is better to set up an LLC in the state where you are purchasing. There are often different costs with some states charging heavy penalties.

I have a great accountant who is in Florida private message me and I will supply the details