The Argentines They are looking for new investment options abroad Since they want greater legal certainty and profitability, one of the favorite destinations is Miami, but it is necessary to know what are the requirements to have a property in the Sunshine State.
By writing MiamiDiario
The real estate director Alejandra Covello indicated that every day she receives more people who want to acquire an apartment in Miami. She commented that in that city you can buy a property with a reasonable rent from about $150.000Now if what you want is apartments near the sea, the investment can be more than $400.000. lanacion.com.ar.
For his part, Miami Life Realty broker Jorge Kupferman assured that in Miami investment is inversely proportional to profitability. The best located and most expensive properties leave a return between 2% and 3%, and the cheapest ones amount to 6%.
Meanwhile, the CEO of Urbis Real Estate, Pablo Hoberman, agrees with Kupferman, and stressed that currently it is not productive to buy expensive properties if what you want is to obtain income. He explained that "the super luxury segment is slowed down and with downward price adjustments." Now what is sold the most are properties of up to $200.000 since with them "rents of the order of between 5 and 6% annual net with room for appreciation of the value of the property are achieved."
Recommendations to buy real estate
Among the recommendations offered by Sofía Gancedo, co-founder of the company Bicksave -which helps to acquire real estate by installment through crownfunding- are: «hiring companies that have good deals with service firms such as the deed, insurance payment, and who also tend to deal with the local management of the property", he highlighted. lanacion.com.ar.
In the case of wanting to establish a corporation in Argentina to buy a property in the United States, the representative of Dezer Platium Realty in Argentina, Demián Pack, assured that the fiscal responsibilities both in Argentina and abroad.
Pack indicates that it is an easy and cheap procedure, since the expenses related to the purchase in the United States are deductible. The commissions are paid by the seller, not the one who buys. As for the expenses for the deeds, they are between 3% and 5%. Then, annually, the statements of the company must be presented by which profits can be paid. Usually companies do not generate profit, it only happens when the property is sold.
While in Argentina the difference between what is paid in the United States and 35% of profits is paid or there may be a tax credit in favor.
Regarding profitability, Pack indicates that in Miami there are properties that can generate income between 7% and 8%. He asserted that it is necessary to keep in mind that one must deduct administrative expenses, these are usually more expensive in the cheapest properties, they can be up to 10% of the gross rental amount.
Regarding taxes, Kupferman stated that there are four tributes that must be considered: the retention of foreigners, taxes on inheritance, dividends and profits. Estimating these aspects, the best legal structure is agreed upon. At this point, he asserts that it is essential to be very well advised so as not to make mistakes when buying real estate in Miami.
The state of Florida is one of the places where people most want to invest. In fact, according to the ranking, it is because it offers a balance between the work and personal spheres.
The citizens who most buy real estate in Miami are Brazilians 12%, Colombians 11%, Venezuelans 11%, Argentines 8% and Canadians 8%, he said. lanacion.com.ar.
Other places where foreign investors like to buy real estate are Fort Lauderdale, West Palm Beach and Wynwood. According to Gastón Miculizki, partner of the BM2 company, the latter is considered "an area that is between 50 and 200% cheaper than other areas in Miami", in addition to having been remodeled, its location is excellent because it is close between Downtown and Miami Beach. .
It was learned that the founder of the developer Vitrium Caputal, the Argentine Federico Gagliardo, will build in Wynwood, the Duos Condo Hotel, the investment was 16 million dollars, it will have eight floors, 51 rooms and a local area of 300 square meters. Each unit will be sold for $275.000, so the rent is calculated to be between 6% and 7% per year.
Gagliardo assures that "What is interesting is that from the moment the first deposit is made, the investor obtains a fixed income of 5% per year on its value."
For Miculitzki, who works in that place with warehouses, "there is a good opportunity to bring concepts that are successful in Argentina and replicate it in Wynwood. Be commercial concepts, clothing stores, coworking and restaurants.
It is important that before investing in a property in Florida you know the statutes and laws that govern it.
It is essential to know that you can buy with credit, In fact, even without a resident visa in the United States, you can finance the purchase of one or more properties. Banks require that you advance a significant percentage for the initial payment (down payment).
According to Kupferman, "loans for foreigners are quite easy to obtain, with minimum requirements. They are given for 30 years with an approximate rate of 5% per year and lend up to 65% of the value of the property, as long as they are units of $250.000 and up.
The customer must have or open a US bank account since from there the fee is deducted monthly.
If you wish to acquire a property for a value of less than $250.000, you can request a private loan, the requirements are a copy of the visa and passport, they can grant you up to 50% of the value of the property, paying only interest for the first two years, and the capital is returned once that time has expired.
Also exist 70% credit offer to finance the purchase of a house, or 65% if it is a condominium. This financing is given by the bank without verification of reserves or income.
The requirements of the banks to apply for these credits are two bank references, a credit card, passport and visa, the funds of the initial fee, closing costs, and letters from the accountant. In a period of 30 days the entire operation is carried out and it is not necessary to present a salary receipt.