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Hey Aeros Oz we have an investor group that is working the WNY region, those issues you rasied regarding investing out there are certainly pertinent.
We have done extensive research and are now at the stage that we have overcome most of those problems (never them all). So you are on the right track and good luck with it all.
Afloat,
I have been researching the UK market in general for some time. What I have found talking to friends and relatives and re agents is that their market is booming and most major cities have experienced high growth, but there are still aeras lagging in North England and Scotland. 10%yields are common and up to 15%. There is talk over there about a correction being well overdue in the South and cool off in other areas.
The London press are tipping some areas of North England as being good growth spots maybe just playing catch up to surrounding areas. London and southern landlords selling in South and buying in North.
Other differentiators are lower interest rates, tennat pays rates and no stamp duty under 60K pounds. The oz $is realtively okay against the pound right now but might slip in the future.
With respect to Burnley the British and European Govt are providing regeneartion funding in an attempt to raise the local amenitey as the area has been depressed for a long time. The local press are talking about active crime reduction and there are many stories on private busines setting up in the area and old disused mills etc being bought up by investors with the view to turning them into tourist attractions and theme homes.
One other differenatior from OZ and NZ is that instead of more houses being built the authorities are actually purchasing property and demolishing it. You wouldnt want to invest in one of them flip side is there shouldn’t be an oversupply.
So thats what I have found on this subject. Hope it proves useful to someone.
A 2 bedroom flat in Port Galsgow Scotland last week for $20K, rent out at $150 per week.
Downside agent said he didn’t like going there as the entrance to the flat is popular with junkies, rent assessment is for welfare tennant no bond no advance payment, plenty of local landlords willing to take this risk on, not so sure for a foreign landlord and not for me.
Geo,
Check out Chris Raynal at
http://www.masteraccountants.co.nz
He is an expert on NZ structures for Australians, I also found his products to be very competitevly priced.
PM me for any more info
