Forum Replies Created
Nigel
How much do you know?
Do you know a company you represent refer their clients to a 3rd party who sell overpriced property in DETROIT?
Oh you forgot that or have no idea what they do?
With significant commissions!
Property checked by me when asked was advertised by this third party purchased for $2,000 advertised at $18,000 + rehab it is no wonder you are concerned about Detroit it is you, do your homework!
Give Spiro a call and ask him how many homes he has had a commission in from Detroit! and referrals to this third party broker.
LOL no idea!
Stick to what you know and no more!Nigel
Mate you just don't give up!
Don't you think it is getting a bit embarrassing?
All investors should do their homework investing any where just don't be an expert on everything and everywhere it is a bit hard to swallow and you will do fine.Nigel
Mate you just don't give up!
Don't you think it is getting a bit embarrassing?
All investors should do their homework investing any where just don't be an expert on everything and everywhere it is a bit hard to swallow and you will do fine.Nigel
What I suggest is just directly promote your business as apposed to what you are doing which is indirectly promoting your business which by using scare tactics over and over again investors see through you rubbish, I know they tell me!
just stick to what you know
as apposed to what you think you knowInvestors aren't stupid running people like me down all the time every chance you get isn't making you look good mate have a rest, take a day off and catch your breath.
A professional would focus on what he or she knows and not act like yourself that's why you are the only one acting in this way, like i have said before if you like Texas or where ever great talk about that and let investors do the same homework where ever they want to go.
Nigel
let me guess?
Is it where you have your business?
lolKaren
Best to do your own homework, be sure of what you are doing and don't be afraid to travel over and look at the city / state you are interested in.
All the best
Nigel
I have worked with Richard in the past, and will talk with him further.
Thank you
Nigel
So you can get finance in the US then?
Please tell us more.Why use a broker just buy direct from the banks, it not that hard.
Get yourself over there in an area you have researched and be careful buying sight unseen.Best of luck
Do your homework!Hello
As I understand it, an LLC will need to be established in the state where you are purchasing.
However as mentioned by Vincent, you setup an LLC in a more tax friendly state as a controlling entity.All your profits from your Georgia LLC lets say would need to be sent through to your "Delaware or Nevada LLC" as management or associated costs (just paperwork) to show you had no profit to pay state tax on in Georgia.
Just be careful although there are no state taxes in Nevada or Delaware there is an annual cost payable to the state for holding an LLC there and in such states as Michigan the state tax rate is only 1.5% yes that's right one point five percent so in my case setting up an LLC elsewhere would cost more. You make want to check your state's tax rate and see what works best for you and also schedule an appointment with an accountant when you are over there.
Best of luck.
Home as described aboveLets look at the numbers?
Shoot through any questions happy to assist with informationJust seen some great videos of Michigan property market.
We had a blast in Michigan loads of great property / happy investors.Robert give me a call about an accountant.
Glad to hear you have got some deals in Detroit, Michigan.Hey guys
Just back from Michigan, Had a great time can't wait to get over there again in June.
Please send through ant questions you may have.
I am not here to convince people my numbers are correct they with stand any test and have been tested already by Aussies who have just purchased on our last property tour. You should do your own due diligence with any investments where ever you may decide to purchase.
We had a great time with Aussies snapping up some great deals, they are also keen to come back again themselves for more property.Glaucus
It is very sad to hear anyone loosing money in an market and this happens all over the place not just in one state.
It is very important to know what you are doing and learn as much as you can, it is not that expensive to travel to the USA.
I hope you may be able to get your investing back on track soon.
There are many sharks out there loading up deals ripping off investors even in Australia.
It is very important to not approach investing in the way you did as in most cases the results will be the same.All investors should be aware of sharks and do your homework everywhere you buy not just Michigan as the last comment mentioned.
Hey Investors
We have just wrapped up two property tours in Michigan and would be happy to pass on a contact number for someone who went on the trip if you wanted some feedback.
This is just someone like yourself who wanted to know more so it may assist you in taking any next step you may want to do, either in Michigan or elsewhere.Hey G
America is a big market I would suggest you just focus on one state or city and study that as much as you can. Myself I focus on Detroit but there are other people like Nigel listed above who work in Texas i understand and there are others about too.
There is plenty to understand but once you have your head around it get over to the US and look into it further.Best of luck
Property Anaylsis Year Purchase Price 8,000 Title Work 700 Renovations 5,000 MONTHLY COSTS Property Management 10% 80 Property Maintenance 10% 80 Insurance 1200 100 Taxation Rates 2500 208 Rental income 800 Cash return per month 332 cash on cash % 29.05% ROI 70.07% Singer, I hope this is ok?
Please ask and i will do my best to answer any questions.Hey guys
Today was great we seen some really fantastic deals on property.
Overall we looked at about 20 homes over the past few days and an Australian investor who has joined me here will be placing some offers and securing some passive income deals before he goes home.
I have been very impressed with the city and how friendly the local people are here in Michigan, the transport network is very well laid out and getting around outside of peak hour is a breeze.
Out of the 20 or so homes about 8 ticked all the boxes for passive income.
I would like to say these are property we have walked through.
I am not offering any of these properties for sale
1. Purchase price $14,000 + Renovation $6,000 rental $900pm
Cost $20,000 ROI 54%
2. Purchase price $17,000 + Renovation $8,000 rental $1,000pm
Cost $25,000 ROI 48%
Just want to keep you in the loop of what's happening in the part of the worldNigel, until you have spent some time here in Michigan I don't have the energy to argue with you particularly when you are wanting to sell your own services in a state you have experience in.
I have only studied this market for two years and yes there is so much to learn and two years really isn't that long at all, I have two properties at 75% ROI myself and offer advice and a chance for people to make up their own mind.
It is great a business like yours can offer a wide range of services, I am sure you have gained quite some business from this forum and sharing your knowledge, well done.
I hope your business continues to grow and more investors have their goals met with your services.Thank you so much for taking the time to understand what I am doing and having your say.
Home as described above
