Highly risky,the locals that have been doing it for years will kill  you

biggaz13 wrote:
Hi JayhinrichsAre you from The True Wholesalers Houses website at:http://www.truewholesalehouses.com/jayhinrichs.htmlYou had me worried when above you said "..wiped out if your buying 40k an under properies in theUS.." Maybe its the wrong Jay Hinrichs but at that website above at True Wholesalers there is a house for sale at J…[Read more]

IMC Newbury wrote:
Rosa, My advice, its worth what you paid for it, is don't………………. You got to be absolutely nuts to take a personal loan to buy US property. You will never get enough net return to be even close to an even cash flow. World gone mad… greed rules………………… crazy

As a US investment  firm I could not agree…[Read more]

The south east is the New detroit , just check it out, all the auto manufactorers are or have moved south. No big union problems.Largest Nissan plant in the world = Jackson MS —Largest Toyota plant under construction between Memphis and Tuepelo MS home of Elvis and thats saying something, I personally have visted both sites. the Toyota site is…[Read more]

Oh the heard mentality is alive and well in Lehiegh and fort Meyers.don't think you can get hurt at 50k a house I bought a few a few years ago.but remember there are over 750k thats seven Hundred and fifty thousand Platted lots that can be built on in Lehiegh and 300k plus in coral.Infrastructure will be an issue in the coming years has been for…[Read more]

Ya'll are going to really think I am an know it all now.Leheigh acres has 750k platted lots or thereabouts Thats 750,000 Thousand. and Coral about 300k.These subdivisions were built before there were any real zoning rules. the lots that have Sewer system have more value. other lots have septc and well on each lot.Nice product. supply and demand…[Read more]

Portpiratewhat are the rates the banks in Aussie are paying on deposits these days?? I have heard 7% is this correct?? And is it government Guaranteed like our CD deposits up to 250k.The idea of investing in the US is great, and we as a country would be in a world of hurt if the Foreign markets did not invest not only in our Real Estate but our…[Read more]

To all I need to temper my comments. there is no way that I think the Aussie investor is not intelligent and educated etc.I think its more of a culture divide in that by and large the average Aussie investor really has no clue as to how the sociodemographics of the US play out. And its my understanding that fully 50% of the Aussie investors are…[Read more]

AngieB wrote:
Thanks Jay!Appreciate your comments. Sent you an email to your inbox with interest in your inpending program in Indy in the fall.

Did not get your email in my in box.  you can e mail me at:       Jay@truewholesalehouses.com

yes they can, I have a buddy at my country club that is an attorney and thats all he does is chase foriegn judgements.In a practical matter as to the size of the transactions that I see most AU folks buying its just too much cost to chase down someone out of country. However if you own multiple US properties its very easy to get judgements…[Read more]

In a further response to the question of lender remedy,different states have different foreclosure laws. you have single action states. Whereby the remedy for default is and either or OR scenario. you can do a non judicial foreclosure and the only remedy is the property, Or you can do a Judical foreclosure which is more common with larger…[Read more]

to answer your question NO.thats why there are very few loans for foriegners how would the lender collect on out of country borrowers.any lender worth his salt will want a PG, and want the borrower to have something in the states to collect on.

I have an extensive history and lending portfolio in Indianapolis.As I have repeated just make sure you buy the right neighborhoods. Indy is far more stable than Detroit for instance.Fed Ex took over the old international airport recently. Downtown is really nice and not nearly as crime ridden as other big cities in the upper mid west.We are…[Read more]

can I get a link you your website and is there a published rate sheet.couple questions1. is it 90% of acquisition or ARV appraisal2. and if there is no proof of income (stated income loan) is it credit score based.3. or to get one of these do you have to prove very large cash reserves and or pledge any cash reserves or any other type of cross…[Read more]

Troy McErvale wrote:
For the past 10+ years, I have been a mortgage broker in Australia. My knowledge of residential mortgage finance is extensive. For the past 10  months, I have been living in the US, and offering a mortgage fiannce service to foreigners who wished to purchase properties in Australia, but also a mortgage finance service for Au…[Read more]

sounds like your dealing with reality and not fantasy,10% NET return is much more realistic than 17% or 18% or 20%..Like I have posted it amaze's me how intellegent the Aussie investor is on our market.then they totally fall down on the fact that there are on going maintenance expenses and vacancies. I guess its wishful thinking.Vegas could be a…[Read more]

follow up on this property sold to an Aussie by an Aussie buying service.1. closed Feb 242 rents were represented at 1600 they are now down to 145o3. simple rehab took 2 months and there was no where near 15k so someone made a nice profit on the rehab.4. as of July 15th properties still on the market with no renter at 1450.So tell me how this…[Read more]

Or there is me the tell it like it is American with 35 years experience and watching your fellow country men throw their money down the rat hole.I was telling one of my office staff to day that no matter what I say these Aussies are going to chase the brss ring and they wlll just have to expeience the loss's as I have outlined. at that point they…[Read more]

here is the blunt truth,half of you will make it half are going to get wiped out if your buying 40k an under properies in theUS and for sure if your buying inner city. You may not want to beleive tha but its the truth.Your buying in almost 100% african americn neighborhoods and these americans have a totally different set of rules they live buy…[Read more]

Top Rental Returns wrote:
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Only fly in the ointment with your deals is your grossly underestimating the operating cost and therefor your return on investment numbers are pure fiction. there is no rental in the US that hs NO VANCAY Facotor, and only 300 a year for MAINTAINANCE this is the high of folly and stupidity…[Read more]