What is the location of these condos?
All these condos are located in Orlando. The ones we are currently promoting are 5 minutes away from Universal Studios so they are very centrally located close to everything.

Are there dues for the golf course, or is it included in the HOA (maintenance)?
The golf course has a membership fee so that is not included. This is similar to any golf course community you find in the gta, there is always a separate membership for the golf. Your HOA fees cover access to all the condo amenities which are outline in your handout such as the pools, the fitness centre, the tennis courts, etc.

What is the HOA (maintenance fee)?
Maintenance is dependent on the square footage of the unit you choose. As an example 2 bedroom 2bath maintenance is around $330/month

Is there an initial fee for the property management aspect apart form what's listed?
NO. Property management is only $100/month which includes the full routine check up of your unit, turnover service, 3 day notices, direct deposit of rent into your bank account, and finding new tenants and marketing your unit if need be.

Do all the units come rented?
Currently we are at 99% occupancy which means all but two of the units are already rented. Once you know which condo layout you prefer, you can choose which rented unit you would like.

What is the lease terms for the tenants?
They are all on one year lease terms. When the lease expires, they can either renew or the property management company will find new tenants for you.

What are the demographics of this area where the condos are located?
This is a very upscale gated community and surrounded by million dollar homes and tourist areas. It's located on a championship golf course so very luxurious. The tenant pool consists of many professionals and since 2 A rated schools are close by, it is excellent area for families.

How many floors in each condo building?
There are 3 floors for each of the 15 condo buildings. Your unit will be on the first, second, or third floor depending on which model you choose.

Does this condo community have any restrictions around pets?
Pet restrictions are limited to 2 pets max (domesticated dogs or cats only).

These condos are great and so cheap, what's the catch?
There's no catch at all, the only thing is that there is no financing on these condos available. So you have to get your own financing here through the 2 below options. The developers have bought these foreclosed condos in bulk from the bank and are passing you the savings. If you've got the money you can get an amazing deal!

What are my financing options?
The reason these condos are so cheap is that there is no financing available in the States. Thus, for Canadians there are 2 options: 1) the developer is offering private financing up to 50% at a 5% interest rate for 2 years (you can pay back the outstanding amount anytime with no prepayment penalty) or 2) the cheaper option: if you have equity in Canada, refinance it and use the funds to pay for your investment in the States.

What is the deposit required to hold a unit?
The deposit to hold the unit is $10,000. This will give you a 10 day cooling off period where you can decide if you want to go forward with your chosen unit or not. If not, you will fully be given your 10,000 cheque back.

How much are closing costs?
Closing costs including your lawyer fees are approximately $2000

What if I am unable to attend your Florida seminar, can I get the info still?
Yes, I am available at my office throughout the week. Just contact me to book a meeting and I will go over all the details. The only disadvantage to this is that you don't hear other people's questions and sometimes when the developers come down for the presentation you will miss having the opportunity to meet them and ask questions directly.

When can we visit the place to take a look?
Please call me to arrange your private tour. It is advised that you select one or two units you are interested in at least 3 business days before. This way we can notify the tenants and you are ensured to view the inside of the unit you are interested. There are also 2 vacant model condos available that you can see.

Do foreigners pay more property taxes than Florida citizens?
This is a common misconception. If your property in Florida is your "primary residence" only then will the US government give them a $25,000 deduction off their assessed property value for taxes. For instance, if the value of your primary residence is $100,000 you will only have to pay property taxes on the value of $75,000. This will save primary residents around $300 in taxes. Everyone else including investors in Florida who do not use the property they are purchasing as a primary residence will be charged the taxes on the full assessed value of the property with no discount. Thus, overall the answer to this question is NO, foreigners do not pay more property taxes.

Will I have to report and pay taxes in both the U.S and Canada?
You will have to report your income in both countries, however, you will only pay your taxes in ONE country. If you pay them in the U.S, Canada will give you a foreign tax credit. This means you are NOT paying double taxes.
Please note that this is general advice form my experience and I am not an expert in accounting or law. Thus, it is advised that you get legal or tax advice from a profession as everyone's tax situation is different on a case to case basis.