A Foreign Investor’s Quest For Discounted Florida Condos, Russian Oligarchs And ROI

In Episode 30, Ilya Ovsishcher - an investor and real estate professional - discusses the mistakes he made trading condos in South Florida, and explains why opportunistic buyers should consider Florida’s Treasure Coast region of Martin, St. Lucie and Indian River counties. In Segment One, Ovsishcher discusses studying Information Technology (IT) in St. Petersburg, Russia, before moving to the United States on an H-1B skilled labor visa in the early 2000s. After a short stint at the U.S. tech company's headquarters in Kentucky,  Ovsishcher was then stationed in the island nation of Jamaica. When the Great Recession hit, Ovsishcher left the tech company and relocated to Miami where he focused on investing in distressed real estate in the South Florida region. Given Ovsishcher's real estate activities, he eventually obtained a real estate license in 2015 and began working with domestic and foreign nationals interested in Florida real estate.  In Segment Two, Ovsishcher compares and contrasts the population and condo prices between South Florida and the Treasure Coast counties of Martin, St. Lucie and Indian River. The discussion also includes details about Ovsishcher's tour business called Vel-Travel that offers all-inclusive fishing and hunting trips in the Americas for wealthy individuals and oligarchs. The tour business has become a feeder for new clients who are interested in investing in South Florida real estate.  In Segment Three, Ovsishcher compares and contrasts the financials associated with purchasing, maintaining and renting out condo units and single-family houses in Miami and Florida's Treasure Coast region of Martin, St. Lucie and Indian River counties. He also talks about the origins of the Treasure Coast brand name that plays off of the region's history that is highlighted by a fleet of 12 Spanish ships carrying gold, silver and jewels to Europe wrecking off the coast of Florida back in the year 1715.    To send a comment, please email the podcast at [email protected]    Please be sure to patronize our advertising supporters: Condo Vultures® Realty, Condo Vultures® Condo Correction Tours, and CVR Realty.  Click here to subscribe to the Condo Vultures® Distressed Market Intelligent Report.