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Hi Michael,
Thank you for the feedback. Enjoy the read!
Thank you,
John Carney
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
Hi MTR,
I am working with an Australian multifamily investor based in LA who invests multifamily sites across the USA. This is a syndication opportunity with a major institutional investor and multifamily operators who have a transparent track record. Send me a message if you want the 27 page Investment Package detailing the current $26.6M / 320 unit opportunity in Dallas, TX. This is a Class B asset and an opportunity to pivot into multifamily.
Invest well,
John Carney
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
Hi Peter,
AGREE! The PM is the key player on any investors team, local or in the USA. I have extensive experience facilitating the safe purchase of USA real estate assets for Australians. The success or struggle seems to boil down to how well the investor communicates with their managers over time. It’s easy for people to complain on forums and assign the blame to the property management company who THEY hired. Foreign investors have to understand that they are also accountable for the success and failure of their investment.
My advice to Australian investors buying USA real estate is to recruit a property manger for your team who has experience working with out of area and overseas investors. Profits and growth will follow a strong professional relationship between the investor and US property manager.
Foreign investors must establish an effective communication system with their American property management company. It is up to the investor to call, not email, their pm when they have a question or concern. There has to be a response protocol and a face to face communication option (Skype, Google+, WhatsApp) on both sides of the pond.
It’s important to match your management company to the asset as well. Companies who specialize in class A property are not going to fair well in a class C neighborhood.
It doesn’t matter where your investment property is located. Effective communication with your team is important and you must have a system in place to test and measure goals, profit and growth.
Here’s a link to video FAQ that I filmed to address this specific issue;
‘What to know about American property management’Invest well,
John Carney
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
Hi Caleb,
Welcome to Australia! I’m an American who’s lived in Melbourne/Torquay for the past seven years. I’m moving back to the USA in a few weeks but have fixed and flipped a few deals on options as well as developed and built new construction in in Geelong/Torquay. You won’t be able to “wholesale” in Australia. Even with your extensive experience in the US, the Aussie property market is full of traps for the unordained. Second, you have to put some time, energy and money into establishing the appropriate entity and tax structure before you invest in Australian property, especially if you are planning on moving USD’s across pond now or in the future.
Your largest obstacle to assigning contracts/options is that the government loses out on ‘Stamp Duty’. They have dropped the hammer on these types of RE transactions. In my opinion the juice isn’t worth the squeeze.
I’m happy to share my contacts in VIC & NSW who I know and trust and will be bale to advise you further. Do you have capital to loan? Shoot me an email or drop me a line.
Thank you,
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
Hi Pavel,
Thank you for the note and feedback. ‘Real Estate is a Team Sport’ is my play book for the property game. Enjoy the read!
Invest well,
John Carney
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
I have my property manager for a few months now and it hasn’t been pleasant. I received late rental payment and very random amount every single month. Suppose to be paid every fortnight but it has never been on time, sometimes three weeks, with amount not reflecting the weekly rent.
Twice she has charged me the wrong % of fees and additional fees, suppose to be 7 but was charged 8. Told her the first time and it was the same again the next month! Recently, the tenants have trouble with the heating unit; it turned off after 5 mins. She sent me an email asking for permission to get a PLUMBER to check, saying it might need a service.
I rang the tenants to confirm the problem with the heating unit and took the opportunity to ask her about the rental payment. She said she has a direct deposit and it get paid off every single week to the agent. I have a reliable builder in that area who I just rang to figure out the issue and will send someone there to service the heating unit.
I would like to do self manage the property instead of paying a non reliable agent. Can I op out of the contract with the property manager asap? Can’t find the clause on termination the contract in the agreement. Please advise. Many thanks.
Regards,
JadeHi Jade,
For written record, email the pm clearly pointing out the discrepancies in your agreement, what action you would like to happen and in what time period to resolve the issue(s). I agree with @ten_burner, 30 days written notice is standard and you should have a termination clause outlining the procedure. Look in your area for a property management specific company who only focuses on property management.
Is your property manager licenced? Bad pm are the worst. Been there done that.
Good Luck!
JohnJohn Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
I’m a new comer to this site but wanted to know what is the best way to reach out to investors in Australia? Also, I have investor clients here in the USA and abroad that want me to look into investments in Australia; who is the most reliable source of property there?
Thanks for your time.
Hi John,
You have to have a great team on the ground in Australia and someone to translate Australian property language/culture for your American clients. I provide the same service, Australian buyer to US real estate and the same model is easy to implement USA to Australia. I’m involved in residential development partnerships in Geelong and the Surf Coast. I’m partnered with a commercial developer in Melbourne who works with foreign investors all the time.
Sincerely,
John Carney
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
My giants just beat up on the tribe this week Ouch
haha Jay…the plight of a Cleveland sports fan…BTW, I think I hit the wrong tab and reported this comment by mistake. My bad moderator.
Thankfully I married into a winning AFL team over here. That takes away the investable pain and disappointment that the Browns consistently deliver each September/ October
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
HI John,
What markets are you in over here in the US… are you selling SFR’s or more sophisticated type investments.
Agree with you the people on the ground in the US will make or break an investment
Hi Jay,
I work with a group in Phoenix who deliver a great product for foreign buyers. Primarily SFRs. I have a regional bank that’s agreed to work with APS clients so there’s real US bank finance available. The Australians have to travel to be physically sited buy the bank so they also see the houses that they are buying or already own when they visit PHX. We have plenty of cash buyers who never make it to the US but the investors who travel always buy more.
What do you do?
Sincerely,
John
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
My name is John Carney and I’m a real estate investor and developer with 17 years of experience in both Australia and the US.
Smart real estate investment is a team sport. I believe that everyone has the ability to be a profitable property investor in either country with the right team in place. There is no better time than right now to get started.-
This reply was modified 9 years, 12 months ago by
John Carney.
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
Hey Engelo,
Are you working with a bank(er) in OHIO that will finance Australians?
Are you a Tribe fan yet?
Cheers,
John
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
younginvester wrote:POOR WOMAN, im am very curious/concerned about your comments on USPW and 21st century property direct usa phoenix tours. as im a 23 year old heading over on there next tour on wednesday looking to try invest in the usa property market. if you have had anything to do with both these companies. any comments on your experience with them, either positive or negative would be greatly appreciated. as im heading over in 2days it would be greatly appreciated to get access to your knowledge of the company before i arrive in the states.
Younginvestor,
I own investment property in Phoenix. It's a great market if you're in the right areas. Just because you're on a tour doesn't mean that you have to make a purchase. All US property markets have their good & bad investment pockets. I don't recommend buying a SFR in Phx for less than $50k. Don't consider any SFR that isn't a 3 bed / 2 bath minimum. Stay away from South Phoenix. Ask questions. Speak with a title agent for an explanation of how US properties are settled/closed (it's different than Australia). Make sure that you have a good feeling about your property manager, they're critical to the success of your investment! Enjoy your trip.
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
I say this just about everyday. There is a big difference between a bad neighborhood in Australia and a bad neighborhood in the US. Bad areas in the US are dangerous and every large city has them. With all of the opportunities available to real estate investors across the US today there is no need to invest in a war zone.
John Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
Hi Bevk,
FYI, it is a renters market in the US these days. 1 year leases are standard practice and the market rate will determine your rent. If you are priced correctly, you will be successful in acquiring and retaining tenants.
I am from the US and have a real estate development/ investment background. I am also a buyers advocate for US real estate in Melbourne. There are differences between the US & Australia real estate cultures that need to be understood prior to venturing offshore.
I hope this provides some insight. I am always happy to answer questions and explain how America Property Source assists our clients with US property acquisitions.
Kind regards,
John CarneyJohn Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
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This reply was modified 9 years, 12 months ago by
