[EngeloRumoraParticipant@engelorumoraJoin Date: 2010Post Count: 618]

February 22, 2024 - 4:43 am

G’Day everyone,

Time sure does fly.

It’s such a shame seeing how dead this forum has become.

I remember the good old days of non stop “argy bargy”.

I guess times have change.

Anyway, I’m still plugging away with my US real estate journey.

I’ll be back home in Australia one day but not yet.

I have a thousand+ buy, reno and sell under my belt and running a property management company.

Happy to talk shop and share my experience if anyone is interested.

Wishing you much success and Happy Investing 🙏

EngeloRumora | Ohio Cashflow
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[EngeloRumoraParticipant@engelorumoraJoin Date: 2010Post Count: 618]

February 5, 2018 - 11:15 pm

dhillon2 wrote:

Hi Engelo, sorry, have we met? Were we meant to meet up sometime? :)
Are you Zach’s friend?

We haven’t

I was just referring to fellow Aussie’s being together in the US and never catching up hehe

I’m still stuck here lol

Thanks

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January 29, 2018 - 3:51 pm

Ziv Nakajima-Magen wrote:

Feels a bit like flogging a dead horse, but I’ve got warm sentiments towards this place – this is where it all started for us.
Condo is good, let me know before you show up, will try to mow down some of those trees to give you a better view of the beach ;)

haha

Just skim the top of them please.

I want to have a clearer view of the islands in the distance hehe

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January 27, 2018 - 9:55 pm

jack wrote:

Hey Kevin & Dani,
Thanks for choosing to give back :)
I want to do my first deal in the US soon and would appreciate any advice. I’m currently in the research phase. The areas that I’m mainly looking at is Austin and Dallas Fort Worth though I’m flexible on the location. I’ve been to most of the major US cities.
I’m thinking either of buying a multi family house, renovating it and then flipping it or doing a small apartment building development from scratch.
My question is which city would you recommend looking at for the best opportunities for short term flipping and any suggestions generally on getting started doing this in the US.
Cheers

Looks like we missed each other in the US

I’m still here and plugging away lol

Also, moved for real estate

Fast forward 6 years and 500 deals later, time are good

Amazing opportunities here for those that want to work for them

Many pitfalls tho as it’s much shadier than in Australia

Thanks

EngeloRumora | Ohio Cashflow
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[EngeloRumoraParticipant@engelorumoraJoin Date: 2010Post Count: 618]

January 27, 2018 - 9:50 pm

Bjoern wrote:

Hi all, I’m considering to invest in the US after reading the article from Todd Hunter in the YIP magazine. Does anybody have any experience with Todd that you could share? And does anybody know of others who provide a similar service?
Thanks already!

The US market is tough with many pitfalls

Take your time and evaluate the people more so than the stats/demographics

Much success

EngeloRumora | Ohio Cashflow
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January 27, 2018 - 9:45 pm

Kazek87 wrote:

Hi Everyone,
I am an Aussie living in Australia. However, I have a property in Kentucky, that is worth about $50k and can be rented out for about $120-$150 pw. I own the property outright with no mortgage. I am very, very new to real estate investing and am not too sure what to do. Should I sell the property and bring the cash back to Australia to invest or should I use the equity in it to purchase another rental property?
What are some strategies I could use? Any help or advice would be greatly appreciated.
Kane

“Best time to buy is now and best time to sell is never”

If the property is producing cashflow without issues then just hold and buy more.

I’ve been based in the US for 6 years now and have done over 500 deals

Mostly renovating and selling but that was for the purpose of building up enough capital to buy and hold.

Cash is King and cashflow is Queen :)

Much success

EngeloRumora | Ohio Cashflow
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[EngeloRumoraParticipant@engelorumoraJoin Date: 2010Post Count: 618]

January 27, 2018 - 9:35 pm

Ziv Nakajima-Magen wrote:

Cheers, mate!

It’s great to see you on here mate still keeping the overseas section alive lol

How is mu condo doing?

I’ll need to come and visit again this year

Speak soon mate

EngeloRumora | Ohio Cashflow
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February 13, 2017 - 11:41 pm

Jay,

Emma helped me with my Bahamas purchase.

Introduced me to key people and gave me solid advice.

She is awesome :)

EngeloRumora | Ohio Cashflow
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August 6, 2016 - 2:46 am

Terry Power wrote:

Hi Engelo,I took your advice (from a Bigger Pockets post/reply) and looked for an Aussie property community, stoked to see you are in too!I’ve now found a even more local group of facebook, so pretty happy about that.Thanks for continuing to put valuable stuff out there like the above advice.Cheers, Terry

No worries mate and I’m glad you found value in my comments :)

Keep the dream alive and speak soon.

Much success

EngeloRumora | Ohio Cashflow
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[EngeloRumoraParticipant@engelorumoraJoin Date: 2010Post Count: 618]

July 14, 2016 - 2:15 pm

Caleb wrote:

Hey there,
I’m brand new to the forum. I joined because I really wanted to learn more on the topic ofoverseas investing, particularly an American investing in Australia.
I am an investor in the USA (specifically Florida). I have closed many deals by wholesalingproperties. I am currently living in Australia for the year and I am wondering what the laws are forwholesaling in Australia.
To be a bit more clear, what I mean by wholesaling is signing a contract for the equitablerights to a property, and then assigning that contract to someone else and collecting a wholesale feein the middle. Is that legally possible here in NSW, Australia?
It would be really great to receive knowledge from someone who knows the major differences betweenthe USA and Australia in terms of real estate investing.
Thanks,Caleb

Keep investing in the US mate, the Aussie market is to hot IMO.

I wouldn’t touch it unless it drops by 50% lol

Just my opinion :)

EngeloRumora | Ohio Cashflow
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[EngeloRumoraParticipant@engelorumoraJoin Date: 2010Post Count: 618]

July 14, 2016 - 1:59 pm

Good one mate, I have had quite a few Aussie’s reach out to me wanting to wholesale in the US from OZ.

My reply is “You are nuts” hehe

Even to this day and after 350 deals under my belt here in the US, I still sometime loose money.

It’s a different animal and it is pretty much impossible to make it work from afar.

Just my opinion :)

Nigel Kibel wrote:

Over the last few years there are groups coming out of the states running courses on wholesaling properties. Now in most cases these companies do not do it for you but run a course and then provides mentoring.
This does not work
Why
Because unless you have someone that you work with on the ground it is just too hard. How someone sitting at their desk in Australia goes on line buys a property at a discount and then resells it for a profit is frankly ridiculous. One of the main reasons is this. You can find a property on one street and one of a street two streets over and the price can vary by 50%. In many US cities slum areas cannot be streets away from good areas. How can you do this on line. One person recently contacted me and told me that when he calls for help he is told he is not working hard enough. The issue is it is impossible to do this well without being on the ground. As this market has become more competitive it is also harder to make a profit.
Personally I am focusing on buying multi family to individuals or in groups. This is a much safer strategy as I have great accountants and property management companies on the ground. So before you spend your hard earned money on programs that do not work consider what will work. There are opportunities in the States but it does depend on who you are working with. I do this professionally and have made my share of mistakes with people. If you have no experience it can be a recipe for losing money.

EngeloRumora | Ohio Cashflow
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[EngeloRumoraParticipant@engelorumoraJoin Date: 2010Post Count: 618]

July 14, 2016 - 1:54 pm

I have known Nathan on a personal level for years now and actually worked with him while Binvested was still in its infancy stages. I can comfortably say that even behind the scenes, Nathan genuinely cares about everyone’s success.

The operation he runs isn’t a money pinching gimmick and I think that his results speak for themselves.

His timing and strategy have been spot on now for 10+ years.

Thanks and much success

EngeloRumora | Ohio Cashflow
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March 17, 2016 - 1:06 am

Redwood wrote:

Getting away from the snow bro?
Coming to Mel at all? if yes, drop by for a pivo.
I will be in the states late april early may, however not in Ohio, hope business is killing it for you.
Cheers Ivan

Sorry mate,

Just saw this :)

Was only home for 6 days. Busy times here.

Where are you visiting?

Thanks

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November 7, 2015 - 12:08 am

I love myself a little bit of D-Town haha

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August 21, 2015 - 12:46 am

Hey Dingo Daniel :)

Thanks for your comment.

Loyalty, Honesty, No Greed and Respect are 4 things I live by and how I like to run my business. I also look for these traits in others. Unfortunately its very hard to find all 4 in people. We all make mistakes and the only ones that don’t are the ones not doing anything lol

Thanks again and have a great day.

EngeloRumora | Ohio Cashflow
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August 21, 2015 - 12:43 am

Thanks Lauriek,

I always try to perceive every experience as a good experience no matter how bad it might seem at first.

We learn more in times of trails than triumphs.

Thanks again and have a great day :)

EngeloRumora | Ohio Cashflow
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August 19, 2015 - 1:15 pm

Great idea mate,

I feel like Red Cross many days as I speak to tons of foreign investors that got screwed here in the US.

You would have to buy these properties very cheap in order for it to make financial sense right?

I had a few instances where it wasn’t even worth taking them for free lollol

Working on one now that we might pick up in the low teens here in Toledo that was just mismanaged but actually located in a decent area.

Thanks :)

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April 13, 2015 - 9:02 pm

Thanks for your reply Nigel,

I appreciate your response and with all due respect I wasn’t offering any dealings to you in the “bottom of the market”.

Just stressing facts about my neck of the woods just like you do about Florida.

Have a great day.

EngeloRumora | Ohio Cashflow
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April 13, 2015 - 9:37 am

Thanks Judith,

I have been living in the US for over 30months now :)

I am quite easy to find.

Google is my business card hehe

Ohio Cashflow

Engelo Rumora

Thanks and I’m looking forward to hearing from you soon.

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April 13, 2015 - 9:32 am

Nigel Kibel wrote:

The fact remains that there are far better places to invest than Detroit. To me a state like Florida offers solid population growth and a stable economy. So why would you risk putting your money into Detroit?

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Thanks Nigel,

Success when investing in real estate(especially if out of state or country) comes down to the people on the ground and not the stats and demographics. There are pockets of Michigan that are still very very desirable and have felt minimum impact from the GFC.

The numbers work great and as long as you have the right people on the ground, you can do very well.

I am not one to plug my area of business but I can say the same thing for Ohio. There are pockets here that no other state can match when it come to ROI. To be honest, Michigan offers even better numbers than Ohio.

Thanks and have a great day.

• This reply was modified 9 years ago by  EngeloRumora.

EngeloRumora | Ohio Cashflow
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