Hi. I'm a real estate investor in the US of A. I would like to look into marketing real estate I have in Florida to investors in Shanghai. I specialize in vacant buildable land, emphasis on buildable. I only deal with legit property that I feel has investment value. This segment of the market here has been completely taken to the wood shed and shot so to speak. This is too bad because this has been a very VERY profitable investment in the past for those of us who were nimble and realistic. Anyway, if you could refer me to someone who might be interested in partnering up with me on the sales and marketing side on the ground in China... please do forward their info to me. If you don't want to publicly post here, I created this account for initial contact: floridarealestateguy@yahoo.com

Thanks!

You are somewhat behind the curve.
http://www.cnngo.com/shanghai/life/shanghai-white-collar-discovers-us-land-cheaper-chinese-kfc-026184
"Shrewd Shanghainese might have found a smart resolution to the soaring real estate market.
One Shanghai executive recently purchased a 1,000-square-meter plot in Florida for US$8,800 via an Internet auction organized by Chinese real estate website Soufun.com (搜房网), reported Guangzhou Daily..."

The full article is wrong in saying that the property is in Miami - in fact, it is part of an old ranch on Florida's west coast. It does not mention that the executive paid another US$4K or so in "legal fees" for a piece of land that is assessed at US$2350. The land is vacant, and arguably "buildable," but nobody in that subdivision has built anything.

One might be forgiven for wondering whether you're with the FDLE, since the musician who shares your username is better known as STING.

Severus, interesting thanks for the link. This article just confirms to me what I already thought, this is a big opportunity that has yet to be explored and developed. That land doesn't sound buildable at all. I doubt it has any utilities running to it based on that price and there is no way it's anywhere near Miami. I wish I could say I am the real Gordon Sumner, but alas, it's not so

My point is that there is already active promotion of Florida land here. A "fair" this week was to include an appearance by one of the developers involved in the auction cited above. The land is in Fort Myers, by the way.
http://soufun.com/house/2011-06-13/5214328.htm

That guy in this press release is not a developer. He's just a slick salesman trying to sell unbuildable land to the clueless. I'm actually surprised how unscrupulous the activity is that you posted about. There is really no reason to sell this type of property right now with the way prices are depressed on much higher quality property.

gordon_sumner wrote:That guy in this press release is not a developer. He's just a slick salesman trying to sell unbuildable land to the clueless. I'm actually surprised how unscrupulous the activity is that you posted about. There is really no reason to sell this type of property right now with the way prices are depressed on much higher quality property.

Indeed. Just up the road from the Chinese executive's lot...
http://online.wsj.com/article/SB1000142 ... 26792.html
"LEHIGH ACRES, Fla.—Joseph Reilly lost his vacation home here last year when he was out of work and stopped paying his mortgage. The bank took the house and sold it. Mr. Reilly thought that was the end of it.
In June, he learned otherwise. A phone call informed him of a court judgment against him for $192,576.71..."

Severus can you help me locate an email address on the SouFun site where I can contact someone about marketing properties on their site. I haven't found anything using Google unfortunately, at least nothing in English I could actually decipher and understand! Cheers.

I am reluctant to contribute to the madness, but:
SouFun Holdings Limited
Jill Jiao, +86 (10) 5930 6668
ir@soufun.com

Given that this is a holiday week in China, it may take several days to get the answer you seek, since the address appears to be for its Beijing headquarters.

Thanks Severus. I didn't realize it was a holiday. Thanks again for all the info.

Since when did Sting get into the real estate business?

War, why late? Clearly still early. There's a reason why there are tens of thousands of realtors out there. It's not like all real estate buyers use a single realtor to make all purchases. I am not interested in tours anyway. I am not trying to push houses on people. I don't know why anyone in China would want to manage a house in Florida, makes no sense. At least with land you can see exactly what you are buying with photos and video. I would also sell affordable land so it wouldn't be as difficult a decision for the buyer to make.

Sal, I am not the only Gordon Sumner here. I had to go with gordon_sumner since Gordon Sumner was already taken. Perhaps that user is the real Sting!

War, well Florida is a big state. You can find expensive condos in Miami. You can find cheap condos in the middle of nowhere in Florida. I am more interested in being upfront with anyone that buys property so they see it as a speculative investment just like they would buy a share of stock in the stock market.

No, this is definitely not about citizenship. It's about making money though! Everyone likes to make a little extra money, no?

Moon over Manchester...
http://www.videonewsagency.com/media.aspx?ID=10940

Gordon,

From what I can predict is that Chinese buyers will not be interested in buying land. That would mean they need to get involved in a lot of other aspects of getting a house build on the land they just purchased. Since most of them have plenty of cash but inversely proportional no imagination how to build their home they will not buy land. They want to see the end product and in these days that would be homes.

Currently it is almost impossible to buy land and build your dream home in China. Locals do not think that way. They prefer compounds with security etc. Same will be for their buying habits in the US. Show them some lame ass McMansions and you are good to go.

Thanks Mogen David, that is very helpful feedback. I am only just thinking this over right now.

War wrote:For us, it's like buying property on the Moon or name an new star for small cost.

I can understand why they would feel that way. I have been wondering why they are buying property in Vancouver, Canada. Mainland Chinese buyers have pretty much single handedly created a bubble in that city over the past year and a half. Just makes me think they would go even further and purchase property in inexpensive and sunny Florida if they knew about it.

gordon_sumner wrote:

War wrote:For us, it's like buying property on the Moon or name an new star for small cost.

I can understand why they would feel that way. I have been wondering why they are buying property in Vancouver, Canada. Mainland Chinese buyers have pretty much single handedly created a bubble in that city over the past year and a half. Just makes me think they would go even further and purchase property in inexpensive and sunny Florida if they knew about it.

This bubble is actually the second one for Vancouver. Before 1997 HK residents rushed into Vancouver and drove up the price.

Also keep in mind that Chinese are not keen for Florida's sunshine. They are looking for nearby China Towns. Chinese buyers are followers...once you sold to a couple of decision makers the others will follow blindly.

War, so your friend moved to Arizona and lives there full time? The one restriction I have been told about so far is that a Chinese citizen is not allowed to exchange currency into US dollars. There is a way to do it and it is being done but it is not legal apparently?

I'm assuming the 200k CAD for citizenship is a separate deal the company selling the property has decided to take on in order to entice the buyer to purchase property from them. Property in Vancouver is very spendy. 200k Canadian doesn't buy one a nice flat, I will tell you that. You might get something nicer in Shanghai with that money!

I have a question. Assuming I could legally buy property, who manages the real estate transaction in China? I'm assuming the property is listed with a real estate agent. Who takes over from them after a contract is signed?

Here in the US depending on what state you live in one hires either an attorney or a title company to "close" the real estate transaction. So a trusted third party holds the contract, the deposit on the property from the buyer, and does title searches to make sure it is clear and can legally be sold to a new buyer without any liens tied to it. Most importantly they handle the buyers monies in escrow and are responsible for releasing it to the seller right after the transaction closes so no one hypothetically is cheated. Who is protecting the buyer and seller in Shanghai?

gordon_sumner wrote:I'm assuming the 200k CAD for citizenship is a separate deal the company selling the property has decided to take on in order to entice the buyer to purchase property from them.

Not just Canada. The aptly-named http://www.investmentpropertyvultures.com (gotta admire their cojones) in central Florida offers a "Green Card program" for "just" $2500. These are your competitors.

Severus, good find. Thanks for the link.

gordon_sumner wrote:

War wrote: I have been wondering why they are buying property in Vancouver, Canada.

Up until recently, Canada did not extradite Chinese for capital conomic crimes. A few weeks back they did, but only after the PRC said truly ruly they woudn't pop the crim concerned (yeah, right). The U.S.A., on the other hand, HAS extradited a bunch of Chinese criminals who should have/have received a bullet behind the left ear.

Therefore the U.S. is not as desirable a destination as it once was for the filth er, I mean "Cream Of Chinese Society" who you want to import to your country. Your call - your pocket Vs the good of your nation.

Lots of Chinese can get citizenship in Canada with a major investment, thats why. Once you get Canada Passport you free...

solohobo wrote:Lots of Chinese can get citizenship in Canada with a major investment, thats why. Once you get Canada Passport you free...

I can see that being a huge incentive to purchase property in Canada!