Why it is a good idea to buy a condo or apartment in Florida in 2023
With the popularity of Florida real estate increasing each year, there are many factors that contribute to the growing appeal of buying Florida condos or apartments. Here we tell you the main reasons.
Florida is definitely one of the most important tourist destinations worldwide. But in addition to all the attractions, such as the Walt Disney parks and Universal Studios (in Orlando), Florida also offers many amenities for those who wish to live there long term.
The climate, for example, has two distinct seasons, one hot and humid and the other with very cool temperatures. But in all of them, Florida receives the heat of the sun, so it is a good place to live practically all year round.
According to the National Association of Realtors (NAR), Florida is a very popular place to relocate. That being said, and as we have already mentioned, Florida is no longer just a vacation state, but has become a very popular place to look for housing.
In fact, if we go back a little more than 10 years in time, only in 2012 Florida experienced a population growth of 2.6%, making it the fourth most populous state in the country, with 18.8 million residents at that time.
And that growth has not stopped. In the same period, the state’s growth has only gone up, as has its economic, real estate, and residential development.
But what is it that makes Florida such an attractive place to buy real estate?
Florida: the best state to invest in the USA this 2023
Florida is known for its warm climate and its beaches, which make it an ideal place for retirees and vacationers. It is also home to many luxury hotels and resorts that offer a wide range of services, such as swimming pools and spas.
In addition to these attractions, there are also several golf courses in Florida that offer players various challenges throughout their rounds.
The “Sunshine State” is also known for its natural resources, such as oranges and pineapples, which are grown here year-round despite its tropical climatic conditions. This means that the people who live here can enjoy fresh fruits throughout the year without having to travel far from where they live to get them.
But without a doubt, the main reason that makes it so attractive for the acquisition of real estate is the strength of the market, especially in the sale of condominiums (apartments), since they offer a high return on investment and low maintenance costs. .
Additionally, Florida’s population is expected to grow 4% between 2020 and 2025, compared to 3% growth for the United States as a whole. This means that more people will look for homes in this state, which will increase the demand for real estate.
Last but not least, in the state natural persons do not pay income tax, being able to offer more convenient prices than in other markets.
Process to obtain the Green Card with the EB-5 Program
To apply for a Green Card with the EB-5 Program, the first step is to locate a project with the requirements established in the program. BAI Capital is currently leading the development of Archer Place, an EB-5 project located in Florida that meets all the requirements to obtain permanent residence and is in the pre-construction period, with all the relevant permits already granted for the start of construction. the works.
Then, the investor must hire an immigration attorney to apply to enter the program, completing Form I-526.
In this step, the interested party must make the initial investment in addition to making the origin of the capital used transparent, for which they must have a legal source and route of funds.
The next step is once the first form is approved, to present a second document known as Form I-485 that will allow obtaining an immigration status to reside in the USA while obtaining the Green Card.
Once this period has elapsed, the investor is now in a position to adjust his immigration status from “non-immigrant” to “permanent resident”. Procedure that is recommended to carry out through a lawyer.
The average time to obtain a Green Card is 2 to 3 years. Although this period can be reduced if it is a project of national interest or located in a rural area.
Investing in BAI Capital is investing in the United States
With a presence in the real estate sector in the states of Florida, Texas and New York, BAI Capital specializes in generating value from land acquisition to the development of mixed-use projects. Such as residences for the elderly, student residences, multifamily buildings for rentals and mixed use that include condos and retail.
Our mission is to safeguard the capital of the partners and the own capital under the minimum risk exposure. With a safe development and going through all the stages. Purchase of land, adjustment of urban zoning, commercial vision in architectural development and management of building permits. Then, we take charge of the capitalization, construction and exit with return of the capital and profits to the partners.
In this way, we guarantee fixed and stable returns for our client portfolio. In addition to having a confidential work protocol with encrypted web forms. Use of protected personal data and private meetings with our agents throughout Latin America.