All Topics / Overseas Deals / USA – Research complete and almost ready to head over there – Anyone else at the same stage?

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of bek_leighbek_leigh
    Participant
    @bek_leigh
    Join Date: 2006
    Post Count: 20

    Hi

    I've been conducting my own research into America this year and I'm ready to go shopping in both Austin, Texas and Kansas City, Missouri. 

    Is there any one else out there at the same point in their investing/research into the States?  Perhaps we could help each other out, maybe even travel together?

    Love to hear from everyone.

    Bek

    Profile photo of goodpropertygoodproperty
    Member
    @goodproperty
    Join Date: 2010
    Post Count: 3

    Gday Bek, i sent you a private message, im in a similar situation, and wanting to discuss with someone who is thinking the same.
    Dean

    Profile photo of mjcantrellmjcantrell
    Member
    @mjcantrell
    Join Date: 2010
    Post Count: 31

    I already have been purchasing in Kansas City, Missouri.  I am an investment broker that is handling many cashflowing properties that yield over 20% ROI cash on cash.  If you need any advice just let me know. 

    [email protected]

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    If you are planning on spending months on the ground you might find some good people otherwise good luck

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of British BuyerBritish Buyer
    Participant
    @british-buyer
    Join Date: 2010
    Post Count: 149

    Hi Bek and Dean and anyone else out there with similar interests

    Yep, I'm about ready.  I've been reading nonstop for about a month now, and my head is spinning from all the data, and the constant self-questioning: should I or shouldn't I?  If I should, then now or later?  If now, then where?

    I originally got the idea from my wife (she's Chinese).  She mentioned to me about a year ago that we should invest in the US market.  I took one look at the falling prices and said "No way".  However, about 2 months ago I started to reconsider, especially when remembering that my wife, back in 2000 on a holiday to South Africa, recommended we buy a beachfront property selling for just US$50,000.  I stupidly talked her out of it ("SA property prices have been stagnant for 20 years, and everyone's emigrating to Aus").  That same beachfront property is now selling for US$500,000!!!!!

    OK, back to the topic.  Buy where?  I spent about 2 weeks researching Detroit, to the point where I'd pinpointed some good possible areas (I particularly liked the University District, a few zip codes straight north of downtown).  But for some reason, as I mulled over the idea, it just didn't sit well with me. 

    For a number of reasons I've now changed my focus to Miami.  The properties are obviously much more expensive there, but my bet is that prices will rise faster there when things pick up (and my wife agrees: due to the famous name, and the effects of tourism and immigration by "snowbirds").

    I am a part-time property investor in China.  I have a lot of condos in my portfolio here (all rented out), but sadly only 4 are in Shanghai.  I bought the rest in smaller cities, because the rental returns were much higher.  But guess what happened, Shanghai prices have rocketed much much faster than the smaller cities, so the amount of profit made on the Shanghai properties dwarfs the rental differential I would have gained in a smaller city.

    This is my (totally personal and possibly wrong) prediction for Miami: you may suffer lower monthly rental incomes than in Detroit, Atlanta, Phoenix, Texas, but when prices turn around Miami will double far quicker than the others, if they do at all.

    My current estimated departure date is November 1.

    I'm interested to hear back from all people with similar or contrarian views to my own, and/or travel plans.

    Steve

    Profile photo of Chief WigamChief Wigam
    Participant
    @chief-wigam
    Join Date: 2004
    Post Count: 60

    Hi Bek, Dean and Steve,

    It would be fantastic to hear how your property hunting in Texas went. In particular, I am considering Austin at the moment, actually have some driving there tomorrow to have a look at the area. If you have any opinions on Austin, they would be most appreciated.

Viewing 6 posts - 1 through 6 (of 6 total)

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