[HomeBuyerLouisianaParticipant@homebuyerlouisianaJoin Date: 2020Post Count: 17]

July 17, 2022 - 2:38 pm

I am increasing my reserves. I am not so scared of the inflation but the recession that this bring. Thankfully most of my properties are in the USA so I have 30 year fixed debt. This means my main costs are fixed and the inflation is helping my rents increase. Also as interest rates rise it makes buying a house more expensive which adds to the rental pool which puts more pressure on rent. There is a lot of pressure on household budgets and I am conscious of that. I haven’t increased my rents a lot on renewals. I am happy for my rents to stay under market as it means my tenants are better of staying than leaving. Since my debt is fixed I don’t have the same pressure as those with variable mortgages.

HomeBuyerLouisiana | Home Buyer Louisiana
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Aussie entrepreneur investing in New Orleans houses

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July 17, 2022 - 2:31 pm

Its very hard to time the market. I think a deal is a deal no matter what is happening on the market. As long as you aren’t banking on appreciation in the short term or something market related to happen for your deal to work then you will do fine. You know what they say, don’t wait to buy real estate, buy real estate and wait

HomeBuyerLouisiana | Home Buyer Louisiana
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Aussie entrepreneur investing in New Orleans houses

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July 17, 2022 - 2:29 pm

I own 6 rentals in Australia (QLD, SA & VIC) and 22 in the USA (Louisiana). I would never buy another Australian property again. The cashflow in the USA is far superior and being able to lock in 30 years fixed debt is a HUGE benefit. I am based over here so it is easy for me to find deals and property management. I can see that it would be more complicated buying and managing from Australia.

HomeBuyerLouisiana | Home Buyer Louisiana
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Aussie entrepreneur investing in New Orleans houses

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July 17, 2022 - 2:25 pm

I love buying houses for sale by owner. The reason I do though is it is easier to negotiate and I get much better deals. If you are trying to maximize the dollars you get I would use a great agent.

HomeBuyerLouisiana | Home Buyer Louisiana
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July 17, 2022 - 2:23 pm

I think you are best investing in another rental property. As long as you can manage your payments then using more debt to acquire assets is going to build more wealth. You obviously need to ensure your numbers will still work at higher interest rates and also make sure you have reserves to manage any vacancy, maintenance or capital expenditure.

HomeBuyerLouisiana | Home Buyer Louisiana
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Aussie entrepreneur investing in New Orleans houses

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July 5, 2021 - 12:54 am

I don’t buy tax liens but buy a lot of houses where investors have bought the tax liens. I will buy it before the investor can take title and they get paid out their investment and interest at closing. It is a good buying strategy as you help the owner get some equity from the house but also get it at a price that leaves some for you to.

HomeBuyerLouisiana | Home Buyer Louisiana
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Aussie entrepreneur investing in New Orleans houses

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July 5, 2021 - 12:51 am

I went the “rentvesting” strategy and rented where I lived and invested where the numbers were good. I now have 15 properties (22 doors) and still haven’t bought a primary residence. I do have a lease option on where I live now and will end up buying it (but will turn it into an Airbnb).

HomeBuyerLouisiana | Home Buyer Louisiana
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Aussie entrepreneur investing in New Orleans houses

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April 14, 2021 - 12:24 am

Jeremy you assume incorrectly. I do often add value myself but I also assign a lot of my deals. This means that I contract them and then assign the contract to another investor at a higher price. They close the property and I receive the difference. I sometimes double close meaning I buy the property and sell it to another person on the same day. The value I added was putting the deal together and I made my money when I bought.

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April 12, 2021 - 12:21 am

I don’t know enough to give you specific advice but will just add that you should research how many international students the university gets. If it’s high be careful as COVID has stopped them coming over. Also if a large number if students are from China there is a decline in that group of students coming to Australia

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April 12, 2021 - 12:08 am

Hey Jeremy, I am from Australia originally and own 6 rentals across 3 states so understand how the Australian market works. I do make money when I buy. It is the way I buy specifically that makes the money. I pay cash and close fast with no contingencies and other terms that the sellers like. There are also no realtor fees for the seller. This means when I close a deal I have instant equity.

This doesn’t make what you are saying wrong, only when you put the information forward as a universal truth. Like Robert Kiyosaki says there are 2 sides to every coin and the smart people sit on the edge of the coin and understand both sides.

There is a story behind every house I buy of a seller I helped. If you want to understand more I gave been listing videos talking about it https://homebuyerlouisiana.com/we-buy-houses-new-orleans/

 

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Aussie entrepreneur investing in New Orleans houses

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April 11, 2021 - 3:18 am

Hey Norman, I am from Sydney originally and now live in New Orleans. I have done a lot of wholesaling in New Orleans and have always wondered if it would work in Australia. I have my doubts as the market is so hot and even tear downs sell easily on the market. There isn’t the same level of ongoing property taxes, code violations that create distressed sales. I don’t want to discourage you as I could be wrong. If you are seeking a mentor find someone doing it in Australia as the methodology will be different there.

• This reply was modified 3 years ago by  HomeBuyerLouisiana.

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April 5, 2021 - 11:45 pm

That advice is right for lots of people but it is not a universal truth. I buy off market properties and create great deals by helping sellers solve their problems. I buy for cash and then did up the house and refinance out all my capital. The return I get going forward is infinite and this came from his I bought.

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April 5, 2021 - 11:40 pm

If you are have the capial and knowledge to invest I think the answer is always now. The more important question to ask is where should I invest because that answer will vary depending on the time.

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April 5, 2021 - 9:10 am

This is a common myth. It is true that tjose affluent areas often get higher growth in an upmarket but they also go lower in a downtown. This means there is more risk so should get a higher return than a more stable asset to offset that risk. As your data shows this isn’t the cae.

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January 17, 2021 - 1:48 pm

I don’t think you can answer that in a general sense. Get a professional inspection report and assess the subject property according to it’s condition rather than its age. I own a 160 year old house in New Orleans but it was rehabbed 5 years ago and in is good condition. You might find a 30 year old house in much worse condition.

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October 23, 2020 - 5:38 am

Personally I think the best buying time is soon but not now. I am from Sydney but live and invest in New Orleans. The markets are really hot over here mainly because supply of houses was hurt by Covid (and yes interest rates help). Supply will come back and even out and there are a lot of grey clouds on the horizon. There are a lot of people on forebearance which will end soon and the number of business that have closed and people that have lost jobs are high. I am still buying houses now because I am local and get in and out fast but this is not the time I would be jumping into a new international market. When a downturn hits which should happen at some point in the near future maybe that would be the time to make a jump. That’s my 2 cents for what its worth

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Aussie entrepreneur investing in New Orleans houses

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October 4, 2020 - 7:38 am

I love the line of thinking around being a buyer rather than an investor. Steve you should write books about property. Wait a second…

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September 6, 2020 - 6:51 am

Glad to have you on the forum. I look forward to your contributions. What areas do you build in?

HomeBuyerLouisiana | Home Buyer Louisiana
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Aussie entrepreneur investing in New Orleans houses

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August 24, 2020 - 1:02 pm

This thread has been very enjoyable. I think you are baiting people with your comments but do agree there are some strong headwinds. A good investor makes money in up and down markets. I am in the US now and the market is on fire due to low supply. This has been good for me flipping homes. I don’t think it can continue so if it turns I am ready to build on my rental portfolio and buy upside houses subject to the existing mortgage. So basically up or down it doesn’t matter, just keep your eye on the market and adjust the strategy accordingly.

HomeBuyerLouisiana | Home Buyer Louisiana
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Aussie entrepreneur investing in New Orleans houses

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August 24, 2020 - 12:27 pm

I really think you should should a professional inspector. They know what they are doing and will identify all the issues. They also have credibility so if they identify significant issues you can use it to renegotiate on the price.

HomeBuyerLouisiana | Home Buyer Louisiana
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Aussie entrepreneur investing in New Orleans houses