The Real Deal Miami

Canadians “endvestors” looking for cheap Florida real estate

November 23, 2011 09:43AM

The increasing number of Canadians buying Florida real estate on the
cheap has earned them a new name: “endvestors,” or those who buy
properties in Florida looking to rent them until they retire. “These are
people who get it,” said Wayne Levy, who runs Florida Home Finders of
Canada. “They understand that if they don’t get a foot in the water now,
there’s a good chance they won’t be able to afford a second home when
they actually want it.” Joe Waddell paid $120,000 for a three-bedroom,
1700-square-foot condominium in Fort Myers, and said he won’t be using
it for several more years. He’s one of many Canadians doing so in
Florida
, particularly in South Florida. [Toronto
Star]