Buy To Let in the USA
Recently the phrase buy to let was used solely by those property investors that wanted to increase their portfolio in the UK but never wanted to purchase homes outside of the United Kingdom. But with increasing property prices and mortgage rates this once popular activity is becoming increasingly hard to do.
The average UK investors is at a loss, However their’s a remedy and it comes form a part of the World that has been recently neglected by the UK investor and that is the USA.
House prices in the USA are still very high and the majority of Americans are still unable to purchase there first home. This is especially true in location such as Orlando and Pensacola in Florida, Houston and Dallas in Texas. This has created a huge demand for affordable rental property close to the large metropolitan areas.
Developers in these locations have large inventories of Condos and Apartments that they need to sell. They are willing to offer great incentives to make this happen. Incentives range from no mortgage for 1 full right up to 4 years no mortgage and no Condo fees. The developers are so confident that they can maintain rental levels that it makes sense for them to offer these incentives to buyers.
FCH Realty LLC have been working with a number of developers in the Orlando area, “ We see this as a great opportunity for the UK investor who is interested in getting into the buy to let market but is unable to do so back in England due to high prices. The developer is responsible for keeping the property rented and also for the management and up keep of the property.” Said, Geoff Sinker Broker FCH Realty LLC.
The properties range in price from $120,000 up to $300,000 this is typically for a 3 bedroom condo on a Golf course close to downtown Orlando. The average price is around $180,000. Mortgages are readily available on an 80/20 LTV (Loan to Value) ratio. Take into account also the UK pound against the Dollar, the average exchange rate has been around 1.80 Dollar to the UK Pound.
More and more developers are looking at the Europe, which was traditionally interested solely in vacation property and the Short term rental market. “times are a changing, to use lyrics by Bob Dylan. The short term Rental market in Orlando has slowed down but a new market has emerged that has its roots firmly in Buy to Let process that is typical in all other parts of the world. The beauty of this market in the US is that the developer finds the renters, he looks after your property, and also pays your mortgage in the majority of cases”, said Geoff Sinker FCH Realty.
For more information on the USA Buy to Let please contact FCH Realty
Contact Geoff@fchrealty.com
Web Site www.afloridarealtor.com
FCH Group are based in the Orlando Florida USA and have been working in the investment industry for over 10 years both here in Orlando and the UK.
Source: www.a1articles.com
