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Do you want to learn about the real estate business in the Dominican Republic?

Then don’t miss this great opportunity to learn from Larissa Ortiz about the Dominican Republic & opening doors to new real estate possibilities!

Larissa Ortiz, NAR President’s Liaison for The Dominican Republic, 2015-2018, will be here in person to give you the latest info. Be prepared-she is full of energy & will get you so excited about the Dominican Republic!!

Reserve your seat for our international marketing session and network with those who view the world as their market.

Although this opportunity is FREE for you, you must reserve your seat. REGISTRATION:https://www.calendarwiz.com/calendars/popup.php…

Wed, Jan 17, 2018  3:00pm – 4:30pm at Pinellas REALTOR Organization

 

Make sure to register today.

 

Larissa Ortiz International Marketing 1-2018

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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

Technological change will determine which cities will outperform, Cushman & Wakefield says

New York was the most sought-after market for real estate investment, according to the survey.
New York was the most sought-after market for real estate investment, according to the survey.

Global property investment rose by 4% in the year to June to $1.5 trillion, reflecting improved sentiment in 2017, Cushman & Wakefield reported Thursday.

from:http://www.thinkadvisor.com/2017/10/12/us-dominates-global-cities-for-real-estate-investm?&slreturn=1508455425

According to the firm’s annual survey of global commercial real estate investment activity, high interest from regional buyers drove growth.

It said the economic background for real estate was now more encouraging than many analysts had anticipated, with the International Monetary Fund having raised global growth forecasts for the first time since 2011.

The U.S. dominated the survey’s ranking of global cities for investment, but Asian markets made the most impressive gains in the past year.

2017 Top Cross Border Investors

Out of the 150 most populous cities, these 25 got (mostly) high marks from WalletHub in four categories.

Thanks to increased interest in buying land for development, Asian markets grew by 24.6%. By comparison, European and North American markets experienced declines of 11% and 7.5%.

Although the top 25 gateway cities in the survey declined by 120 basis points, they remained dominant with nearly 50% of the market. Half the cities in the top 10 underwent volume declines over the past year; now the 10 cities represent just 29.5% of total volumes, down from 32.9%.

New York maintained its position as the most sought-after market for the sixth consecutive year, according to the survey. The other cities in the top 10 were Los Angeles, San Francisco, London, Dallas, Paris, Washington, Hong Kong, Atlanta and Shanghai.

London saw volumes fall by 25%, and was bumped from the top three by San Francisco, while number nine Atlanta displaced Tokyo, which fell to number 11.

London continued as the most attractive city for international investors, but several German cities rose in the rankings: Berlin to number five and Frankfurt to number seven. Number two New York and number three Paris were popular rivals to the British capital. Athens real estate reached a 10 year peak.

The survey found that sector concentration was highest in the office sector, with 61% of all office transactions occurring in the top 25 cities. Multifamily followed, with 49% of volumes in the gateway cities.

The report said a key factor determining which cities would outperform was technological change. Developments such as virtual reality and big data will enable more rapid change, and will start shaping cities and tenant demand within months rather than years.

It said cities will need to be able to adopt smart designs in buildings and infrastructure, and have a strong focus on their target audience of talent and businesses.

Four things will facilitate this process, according to the report:

  • City connectivity, as the importance of linking families and businesses across borders grows
  • Supportive governance with integrated strategies
  • The size and quality of a city’s institutions
  • Access to services, healthy living and cultural appeal

 

http://www.thinkadvisor.com/2017/10/12/us-dominates-global-cities-for-real-estate-investm?&slreturn=1508455425

On October 18th the Pinellas International Council held it’s monthly International Marketing Session with Martha Vasquez presenting on Canada. Martha shared how to connect with and do referrals with Canadian realtors, helpful websites, and much more in the hour long presentation. We had a great turnout. Thanks to our speaker, the Pinellas Realtor Affiliates and all those who attended this very informative presentation.

 

 

 

From the National Association of REALTORS® Commercial and Global Services:
“Your association’s Global Business Council has been named a Platinum Council in the 2017 Global Achievement Program. Reaching the Platinum award level places you in the top 11% of councils operating nationwide. Your council contributed to raising members’ awareness of global business in your local market. Your council has demonstrated the utmost commitment to helping members capture their share of the global real estate market in the United States, in addition to connecting your council and members to the global community in your area.”
We, the Pinellas International Council board would like to thank NAR, the Pinellas REALTOR® Organization (PRO), the Pinellas Realtor Affiliates, and all of the members of the Pinellas International Council for making this recognition possible!! Thank you all so much!! We will do our best to continue bringing Global education and events to our members.
2017-NAR-Global-Platinum (1) - Copy

Come learn about tools available for marketing & working with Canadian buyers and sellers. This event is free but you MUST register in advance on the Pinellas Realtor Organization’s website.

Light refreshments & wine will be served. October 18th from 3-4:30 pm. Hope to see you there!

Oct Marketing Session-Canada

Ireland Commercial Property Sector Enjoys $1.5 Billion of Investment in 2017

 

According to JLL, over $1.5 billion of Irish commercial properties have traded so far in 2017. While this is lower than 2016, last year was an exceptional year.

Commercial News » Dublin Edition | By Michael Gerrity | October 4, 2017

In Q3, $623 million of investment transactions closed. The largest transaction in Q3 was the sale of a $71 million off-market office transaction in Dublin. The second largest was retail unit at 100-101 Grafton Street, which was sold by GLL and purchased by Irish Life for $59 million, and the third largest was the sale of 4-5 Harcourt Centre. The office building was sold by Clancourt and purchased by Ares for over $55 million.

Hannah Dwyer, Head of Research at JLL Ireland commented, “2017 continues to perform steadily, and total volumes of $1.53 billion are where we expected them to be at this stage in the year. As with most years, Q4 is likely to be the strongest quarter, with a number of assets on the market which are due to close in the next 3 months. This includes The Square in Tallaght ($274 million guide) and The Gibson Hotel in Dublin 1 ($102 million guide). We are still of the view that total volumes for 2017 are likely to achieve between $2.3 and $3 billion, assuming these large assets close in time for the end of the year.”

John Moran, CEO and Head of Investment said, “It is encouraging to see that Ireland’s investment market continues to perform. The supply of assets coming on to the market remains robust and the demand we are seeing from investors continues to surprise, with more core buyers from Europe in particular. Whilst they are becoming more selective in terms of what they are bidding on, we are still seeing interest, particularly for prime assets, or those that have an asset management or refurbishment play. Offices continue to be the focus for some investors, whilst others are branching into ‘alternatives’ in search of value. In particular, this includes the Private Rented Sector for Residential, for which we dealing with a number of active enquiries from clients. Both new and existing domestic and overseas investors continue to be active”.

Commercial News » Dublin Edition | By Michael Gerrity |

My heart, hopes, prayers & love go out to Mexico and the many island countries including Barbuda, Puerto Rico, St John, St Thomas, St Croix, Cuba, Dominican Republic, the British Virgin Islands & others that have been hit so terribly by the hurricanes & earthquake.

 

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

Annalisa Weller, Realtor®, Certified International Property Specialist

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  • Paul Hendriks Installed as 2018 PRO Chair January 19, 2018
    Paul Hendriks of Gulf to Bay Homes and Estates was installed as the Pinellas Realtor Organization Chair at an event on Wednesday, January 17 at the Birchwood Hotel in St. Petersburg, FL. Past Presidents passed the gavel in a show of support for Paul and the 2018 Board. Congratulations to all!        Executive […]
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  • PRO REALTOR of the Year, Achievement Award and Rookie of the Year Recipients January 19, 2018
    PRO presented three awards at the Installation event to recognize members who have gone above and beyond and who excel in our industry. The awards were presented on Wednesday, January 17 at the Birchwood Hotel in St. Petersburg. REALTOR OF THE YEAR – Mindy Rovillo, IMAPP Realty Group The  highest and most coveted award that […]
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  • PRO REALTOR Emeritus Members Recognized January 19, 2018
    PRO recognized 16 new REALTOR Emeritus designees at the Installation event on Wednesday, January 17 at the Birchwood Hotel in St. Petersburg. By definition, any person who has held membership in the National Association as a REALTOR, REALTOR-ASSOCIATE or combination of both, for a cumulative period of 40 years in one or more Associations of […]
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  • PRO Good Neighbor Award Recipients January 19, 2018
    The Pinellas REALTOR Organization recently recognized four outstanding members who make a huge difference in our community. These Good Neighbor Award recipients were presented with pins and each received a check for $1,000 made out to their charity at the PRO Installation event on Wednesday, January 17 at the Birchwood Hotel in St. Petersburg.   […]
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  • John L. Allison Celebration of Life January 18, 2018
    Celebration of Life and Memorial of John L. Allison, hosted by his family We would be honored for you to join us Service: Thursday, January 25 at 3:00 p.m. Woodlawn Presbyterian Church 2612 12th Street North St. Petersburg, FL 33704 Refreshments follow immediately in Fellowship Hall Contact: Nancy Allison (727-580-8410) John Allison was a longtime […]
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