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CIPS Americas June 15, 2018 Carlos Fuentes

 

The Certified International Property Specialist (CIPS) course on the Americas offers you practical information on working with Caribbean, North, Central and South American investors.  Historical and cultural influences, regional relationship, and investment opportunities are covered along with a special focus on Mexico.

SCHEDULE:
8:00 a.m. to 8:30 a.m.: Sign-in, networking, and breakfast
8:30 a.m. to 5:00 p.m.: Course, Light breakfast and lunch will be provided.

Seating is limited and registration is required. You MUST register in advance. Earn 7 hours of CE credit while gaining invaluable knowledge.

***This course is one of the courses required to earn the prestigious Certified International Property Specialist (CIPS) designation. The CIPS Network comprises 2,500 real estate professionals from 50 countries and is the specialty membership group for global business practitioners of the National Association of Realtors®. The CIPS® designation prepares Realtors® to service the growing international market in their local community by focusing on culture, exchange rates, investment trends, and legal issues. Click here for more information about CIPS and the requirements to earn this prestigious designation.

Our second is event is our monthly International Marketing Session. Seating is limited so you MUST register in advance. Thank you.

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This is an interesting report. Quite surprised to see that Miami doesn’t have the top slot for the first time this year. St Petersburg-Tampa-Clearwater have moved into 11th place. Nice!

detroit

Where are international home shoppers looking in the U.S.? Each month, we assemble our International Demand Report, examining which metros garner the most interest from international users on realtor.com®.

Miami Falls Out of Top Slot, Los Angeles Takes Over

Miami was ranked #1 during both February and January this year. As we ease out of the grips of winter, international buyers may be more willing to look beyond the dreams of beaches and vacation life offered by Miami. Miami has dropped to rank #4, and Los Angeles moves into the top slot. The last time Los Angeles was ranked at #1 was from September to November last year.

Despite this slip, expect to see Miami bounce back in the coming months.

Detroit Jumps To 2nd Place

It’s not common to see too much of a shift in the top ranks of international demand. So it was a bit of a shock when the Detroit metro area jumped 24 spots all the way to rank #2. Such a drastic jump warranted additional investigation. We tracked the activity down to a listing that went viral on social media which bolstered traffic from Canada and the UK.

However, even when we went back into the data and removed the traffic directly related to that listing, we saw that this listing generated substantial residual traffic to the rest of the Detroit area. It’s this residual traffic that ultimately propped up Detroit this month.

Explore these trends and more on our international demand page.

international demand march 2018

 

 

Excellent list but I would add that one also needs a currency exchanger, who can save you quite a bit in fees and rates, locking in the rates for months and an immigration attorney who has knowledge of VISAs and the most up-to-date laws.

NEW YORK – If you’re going to purchase foreign property to grow your wealth, the U.S. is one of the easiest and most profitable places to purchase your investments.

If you’re a U.S. citizen living abroad, your financing options will be different than if you’re a foreign national looking to buy U.S. property. However, the process for buying property will be the same.

Here’s a list of the most important considerations to make prior to jumping in:

1. Know your rent market, not just home prices

Even if it takes you several years to see capital growth, investing in U.S. property (in certain areas) can be more lucrative than other countries – like Australia, for example.

Using Australia as an example, your returns have the potential to be greater when you buy in affordable U.S. markets like Texas and Arizona. You’ll pay more for a two-bedroom apartment in Australia than you will for a four-bedroom home in Texas, and the rents will be comparable.

It’s possible for both a $260,000 property in Australia and a $100,000 property in Texas to command the same monthly rent. If each market commands $1,000/month rent, the U.S. house is going to be the better investment.

Don’t assume you can charge higher rent just because you paid more for a property.

2. Know when to buy and sell

In the U.S., spring is the best time to sell a house. Houston property management company Green Residential discusses a recent study performed by Zillow that proves this. The study revealed homes sell three weeks faster, and for more than the asking price. This means April to May might not be the best time to buy. You’ll be competing against multiple buyers, and you’ll end up paying more.

The same data showed November through January are the worst times to sell, likely due to cold weather and funds being allocated for the holidays. If you find your dream investment home during the winter, you’ll probably get a better deal since the market won’t be flooded with buyers.

3. Do you have a structured entity?

To purchase U.S. property as a foreign national, you need a valid U.S. entity like an LLC or corporation. This structure determines your tax obligations as it relates to your property. Doing this wrong can result in severe tax penalties. To understand this in depth, read a detailed explanation of how foreign investors are affected by taxes when purchasing a U.S. property.

4. Do you have a U.S. bank account?

To own property in the U.S., you’ll also need to open an American bank account in person. There is no way to do this through email or by notarizing documents and mailing them in. Your physical presence is required.

5. Do you have a good interest rate on your loan?

If you’re not a U.S. citizen, you can’t take out a traditional mortgage. Unless you’re paying in cash, you’ll need to obtain funding from private lenders.

Private financing requires a larger downpayment (sometimes as high as 50 percent), and comes with higher interest rates. For instance, if the home you’re buying costs $100,000 you might need to pay between $30,000 to $50,000 in cash. A traditional mortgage might only require a downpayment of $10,000 to $20,000.

Sometimes adjustable interest rates can start off great and become burdensome. As a non-U.S. citizen, you’re already going to pay a higher interest rate, so you want to start with the lowest rate possible. If you can’t avoid an increasing interest rate, at least minimize the amount.

6. Do you have a property manager?

When you buy foreign property, you need someone to manage it for you – like a property management company will. They’ll handle everything from tenant screening to collecting rent and even managing maintenance needs.

If you’re not living close by, you need to have a local team working on your behalf. Hiring a professional property management company means you don’t have to hire multiple individuals, manage them, and hope they’ll do it right.

7. Do you have a tax professional?

Your taxes will get a bit more complex when you invest in foreign property, but it’s nothing a tax professional can’t handle. It just means you’ll need to pay for someone to do your taxes for you.

No matter where you buy property, you’ll be governed by tax rules and other regulations. Don’t rule out foreign investments just because it looks complicated. You’ll always have to play by the rules no matter where you buy property. Choose the investments that offer the largest returns, and don’t be afraid of learning as you go. The best investments require some aspect of risk, and the rewards are well worth it.

Copyright © 2017, Bizcommunity.com. Provided by SyndiGate Media Inc. (Syndigate.info). All rights reserved.

Carlos Fuentes, of Namaste Realty from the Tampa Bay area, discusses global commercial real estate, what you can learn via CIPS, U.S. international investment expectations, and benefits of joining a local global counsel.

Carlos NAR Commercial-CIPS interview

http://www.narconferencelive.com/2017/11/07/global-commercial-real-estate-overview-nar/?sf169957080=1

On October 26th the Pinellas International Council held the class entitled,  Investor Visas: Helping International Clients Invest in the USA  presented by attorney Marc Weintraub of  Bailey & Glasser, LLP in St Petersburg, Florida. Bailey & Glasser specializes in representing International investors purchase businesses in the USA and then continues to help them with management & legal issues afterwards. Thank you to all of our 30+ attendees, the PRO Business Affiliates & the Pinellas Realtor Organization for your support with this very informative event.

Please join the Pinellas International Council as our distinguished speaker, Marc Weintraub, discusses how to help your international clients improve their visitor or immigration status by investing in the USA. This presentation includes the various programs available. It is your opportunity to learn about recent developments in this fast-changing area that intersect real estate, business, law and immigration policy.

Thursday, October 26, 2017 from 9-12 noon

Pinellas Realtors Organization, 4590 Ulmerton Road, Clearwater, Florida.

Please take note, you must register prior on the PRO website. Hope to see you there!

Oct 26, 2017

Please join the Pinellas International Council on September 20, 2017 for our International Marketing Session and Technology Tips for working with International buyers and sellers. It is FREE but you must register first. We want to make sure we have enough chairs, wine & appetizers. Hope to see you there!

TechTips 09 2017

Please join the Pinellas International Council Friday, July 21st for the Certified International Property Specialist course, Asia/Pacific and International Real Estate. This informative course is being taught by Jorge L. Cantero, Realtor®.

 

Friday, Jul 21, 2017 8:30am – 5:00pm at Pinellas Realtor Board, 4590 Ulmerton,Road, Clearwater, Florida.

This course offers you practical information on working with Asian/Pacific buyers and investors.  Historical and cultural influences, regional relationship, and investment opportunities are also covered.

In this new world of globalized business, we are in contact with people from Australia, China, Indonesia, Japan, Taiwan, Korea and the Philippines. Their economies count on countries of the Americas and the Pacific Rim to provide access for their goods to our markets.  We count on them to supply us with quality merchandise at reasonable prices and providing new markets for the products of the Americas. One such product is real estate.This course provides information, insights and skills for working with Asian investors seeking overseas properties and for investors from the Americas seeking investments in Asia.

SPEAKER: Jorge L. Cantero  CIPS, CRB, CRS, GRI    20678_100139880023748_5432507_n(3)

Jorge is licensed in real estate in Florida since 1985, and previously a recipient of a New York State Broker’s License. Mr. Cantero’s international experience prior to that was a result of being involved in the chemical industry with a series of multinational companies, and having extensively traveled in Europe, Latin America and Asia.  Mr. Cantero’s specializations include residential resales, marketing of foreclosures; and in particular serving inbound international investors and residential real estate exchangers.  Mr. Cantero is a Past President of the Residential Association of the Miami Association of REALTOR®, and was the recipient of the Association’s Educational Award in 1994, and of the REALTOR® of the Year Award for 1995. Furthermore, he is a member and director of numerous committees of the Miami Association, Florida Association and National Association of REALTORS®.

In addition to having earned the designations of Certified International Property Specialist (CIPS), Certified Real Estate Brokerage Manager (CRB), Certified Residential Specialist (CRS), and Graduate, REALTOR® Institute (GRI), Mr. Cantero holds a Master Degree in Chemical Engineering from New York University (NYU), 1972.

This course counts towards the CIPS designation. Click here for more information about the CIPS designation.
Upon successful completion of this course, a real estate professional will be able to:
• Discuss the social, economic, political, and geographical characteristics of major countries in the Asia/Pacific region.
• Identify important characteristics of the real estate market in certain Asia/Pacific markets, including influential laws and real estate and brokerage practices.
• Evaluate opportunities in certain Asian markets by analyzing significant investment patterns, investor profiles and real estate activity.
• Discuss ways to develop a business network to start or enhance an international practice with Asian clients or properties.
• Discuss techniques to promote properties, markets, and professional services.

SCHEDULE:
7:30 a.m. to 8:00 a.m.: Sign-in, networking, and breakfast
8:00 a.m. to 5:30 p.m.: Course

Light breakfast and lunch will be provided.

Seating is limited and registration is required at LEAST 24 HOURS prior. 

REGISTRATION:
PRO Members ($95):
Click here to register.

Non-PRO Members ($95):
Click here to register.

***This course is one of the courses required to earn the prestigious Certified International Property Specialist (CIPS) designation. The CIPS Network comprises 2,500 real estate professionals from 50 countries and is the specialty membership group for global business practitioners of the National Association of Realtors®. The CIPS® designation prepares Realtors® to service the growing international market in their local community by focusing on culture, exchange rates, investment trends, and legal issues. Click here for more information about CIPS and the requirements to earn this prestigious designation.

Contact: Jan Dean
Email: JDean@tampabayrealtor.com
Phone: 727-216-3004
Pinellas REALTOR Organization
4590 Ulmerton Road
Clearwater FL 33762

Please join the Pinellas International Council for a presentation on Greece by Alexandra Sekouri, the President of the Hellenic Association of Realtors (Greece). Alexandra recently attended the National Association of Realtors Mid-year Meetings in Washington, D.C. held each year for a week in May. Ms Sekouri will be discussing the buying process, types of properties, price ranges, referral system, why one should invest in Greece and much more. Hope to see you there! Please remember to register first.

Greece June 2017

Annalisa Weller, Realtor®, Certified International Property Specialist

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