Gina Carranza, real estate agent in the United States, gives us advice for Latinos who want to invest in this country.
Real estate is always a good investment opportunity, even more so if you keep in mind what you are betting on. Photo: Unsplash
LatinAmerican Post | Santiago Gómez Hernández
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After the pandemic and the economic reopening, many Latinos are looking for where to invest. Real estate is always a good investment opportunity, even more so if you keep in mind what you are betting on. LatinAmerican Post spoke with Gina Carranza, a real estate agent with 12 years of experience in the Florida area about advice when investing.
Carranza advises "if you want to buy from Latin America, it is important that you do your research. That you take the time to know what city you want. Each city has different laws, different taxes, so you must study in which area you want to invest. The second is to know what type of property owners want to make the investment and what kind of return they expect. Finally, find a good realtor, a good agent to advise them and provide them with the information they need. "
LatinAmerican Post: Why invest in Real Estate in the United States?
Gina Carranza: Because it is one of the strongest economies in the world and because we are in a very good economic moment. In addition, you will receive a good income. Your capital will appreciate more than in any other type of economy and if you invest in dollars, you will earn in dollars.
LP: If someone is living in Latin America, how do you identify a good place to compare?
GC: Thanks to technology, today we have several tools. How to find a good realtor? You can enter the pages of realtorcolombia. There you can communicate with me. We also work with agents in different states such as New York, Chicago. They can be advised to have a good realtor in the area. We usually have agent ratings and ratings left by customers. And obviously that he is a specialist in foreign investors. There are others focused on first-time buyers and others on seasoned buyers.
LP: How to choose a good area when buying?
GC: When looking for the area, then take into account the migration rate, how many jobs there are in the city, state or area. See if the city are growing. See what the current trends are or if they are close to the sea; how are the prices, if large investors are investing in those cities; how is the construction. These are things that one can research on Google and analyze if it is a good area. What cities can I recommend? At this moment, Tampa is a market that is growing a lot, it is one of the 5 cities in the United States where it is best to invest, because with less money you can buy a property with a higher income. Obviously, Miami is a city where everyone wants to live and wants to invest. Many investors came to Miami for the culture, for the climate, for the proximity to the sea, for the commercial part. So they are cities to advise. Orlando too.
LP: What states are good to invest in?
GC: Florida has legal benefits that favor investors. Texas is also a good investment option right now.
LP: What benefits are there to later emigrate?
GC: In terms of migration, there are 3 types of visas that can be obtained through real estate. These are E1, E2, and B5 which depend on the type of property and do not work for everyone. But under certain characteristics, it can serve. For that, it is also ideal to speak with an expert immigration lawyer.
LP: From what budget can one think of buying real estate in the United States?
GC: Right now it's still from $ 100,000 in immediate pay. But if it is already through a loan or mortgage, at least 70% of what the property costs. So we are also talking about $ 80,000 that you would need because the minimum to invest with a loan is $ 250,000.
LP: What is good to invest in houses, apartments, warehouses, premises?
C: It all depends on the client because I can offer you lots, which are being important because right now they are looking for land to build. Previously the construction was not so striking, but now it is. The 1, 2, or 3 bedroom apartments. And what is also in fashion is the temporary rental as in the Orlando sector, which is very attractive to rent with AirBnB or other applications. The truth is that any type of property is a good idea.
LP: If I already have $ 100,000, how long is the process?
GC: It is very simple. It is quick and easy. Once we know what you want, what type of investment you want, and the next step is the tax part. Create a corporation, which is what we advise. This process takes less than a week and after obtaining the property, doing the analysis, from the day we sign the sale contract, we have 45 days to close a business. After we find the property and sign, it is 45 days for you to get your keys.
Finally, when a client asks me, "what is the best time to invest in real estate?", I tell them that it was 10 years ago. For 12 years I have been telling them to invest. People who bought 10 years ago their appreciation is above 200%. In other words, a property that costs 25,000 dollars, today is 150,000. Let's not wait for it to happen, because here the investments are being valued.