[markymarkdennisParticipant@markymarkdennisJoin Date: 2013Post Count: 5]

May 26, 2015 - 11:40 am

Hey CDER,
Contrary to what a lot of people will say, you can do it yourself. The tools that are out there and a basic knowledge of real estate markets makes information widely available. I’ve only just started to reignite my interest in the US property market again too after the mess that is beginning here in Aus. Looking to go over there myself and have also come across what seems some pretty legit providers that I will check out. Let me know if you want me to fill you in on my experiences…

[markymarkdennisParticipant@markymarkdennisJoin Date: 2013Post Count: 5]

May 26, 2015 - 11:30 am

Thanks Lauriek, will check them out! Regarding taxes, I was been recommended this Jan Doherty mob out of Florida. Doesn’t seem like they self promote either which seems to be a good thing based on a lot of what I’m reading in these forums. Has anyone else used them?

[markymarkdennisParticipant@markymarkdennisJoin Date: 2013Post Count: 5]

May 25, 2015 - 9:32 am

Mate, secure it, make sure it meets all the minimum needs of a business/storage then take a drive around and see what the biggest/most competitive businesses are in the area. At least that’s a good place to start then you’ve got some businesses you can talk to and they may even give you some ideas. Without living there it’s hard to tell you what the needs of a tenant will be…

[markymarkdennisParticipant@markymarkdennisJoin Date: 2013Post Count: 5]

May 24, 2015 - 10:00 am

Hi guys, here’s my two-cents on the above topics:
I ended up using a mob out of Phoenix for my taxes. All went very smooth and they got me everything I needed in no time at all. Lauriek, let me know if you want their details and I’ll dig them up.
Regarding US Invest, I have also had my own dealings with them which started great and ended not so great, particularly after Lachlan left. I believe he actually left in 2013 and they’ve been riding his coattails somewhat ever since. I contacted him some with some tax issues and he actually got me in touch with all the right people without asking for a penny. Not sure what he’s doing these days but I wouldn’t put much faith in whoever is pulling the strings at US Invest.
Nige, whats your thoughts on the Florida market with the USD going up and the impact that will have on tourism? I’m not looking for bargains at this point but US is still on my radar so I might send you a PM if that’s alright?

• This reply was modified 8 years, 11 months ago by  markymarkdennis.

[markymarkdennisParticipant@markymarkdennisJoin Date: 2013Post Count: 5]

September 23, 2013 - 3:03 am

Yep, know your overheads and carefully plan what sort of numbers you need to make this work.

By having your own tradies, you can save a sh*tload of cash rather than going the turnkey way, but if you don't know them, you can also get yourself a massive headache and even worse, cost you a lot of money or end up with a sub-par job.

I would always go it myself and have had a few developments but there are some key points to remember:

-Budget: Work it out and stick to it. I mean across everything from planning, to building to electrical. Then give yourself at least a 5% buffer

-Revenue: Once you finish this thing, how much will it cashflow? Is it going to be worth it if the market stays the same? Can you afford to finish it should the market change between now and completiion?

-Timeframe: If you don't have set targets, this thing will take forever. If you rely on the instant cashflow, maybe you should re-think. Just becasue these things tend to take much longer than expected…

I know this is a quick recap but I hope it helps!

-Mark