Feb 24, 2020
Today we talked with James A. Schmidt, Esq. about foreign
investors and the things they should be aware of when investing in
the U.S. and Florida. Foreign buyers need to take special
precautions to ensure a smooth investment process.
Foreign investors need to learn the market, get good advice,
and building a team that consists of :
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brokers
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property managers
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laywers
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accountants
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and others who can deal with zoning, property inspection, and possibly engineering
It's particularly important for the foreign buyer outside the
country to have people local to the area that they can trust who
can help them execute whatever goals they have on a particular
asset that they are purchasing.
Key Discussion Points
[05:48] About our guest: James Schmidt
[11:54] What are some things foreign investors need to
aware of when investing in Florida
[14:19] Explanation of FIRPTA (Foreign Investment in Real
Property Tax Act)
[18:22] When a foreign investor comes to you, what is the
process to ensure everything is properly executed and that the
transaction and asset is properly managed?
[22:07] What are the problems you see with the standard
Florida Real Estate contracts?
[25:00] Are there any issues that are important to
lenders when dealing with foreign investors?
[28:59] Discussion about the FAR/BAR contract (Florida
Association of Realtors and the Florida Bar Association)
[35:00] How can people contact you?
[36:15] Closing remarks by Eric and Steven