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I wouldn't exclude mining towns. What you have to avoid is towns with only one mine or one industry. BHP and Hopetoun is something you want to avoid.
Sounds very exciting, I was last year after I bought my house in Fort Myers. I drove from Miami, nice and easy. FM is a nice place, cheap clothe as well. I opened my account and saw a few house and drove around to see what it's like.
Hope you have fun
good luck
Mosqui
I don't agree. There are mining towns with more than one industry, like Karratha, where you have LNG, Fertilisers, Dampier salt, Iron ore and all the support services for the Oil srigs around. So if all these industries collapse, doesn't really matter where you are because all Australia goes down. Karrtha also has all the government offices for the Pilbara.
You don't get much appreciation in Karratha, but the return is more than 10%.
Port Hedland or Newman are very different, you only have Iron Ore, so some mining towns are not a bad investment; in my opinion.
You can open an account without going to the US, but it’s not legal. It can be done, but the bank’s manager takes all the risk. The can close the account as well, I have been told.
Mr LV
I used the LJ Hooker one a few times. Even when not using LJ Hooker.
Ring 4 or 5 of them and get the cheapest price, then ring again to the cheapest and ask for discount, it works very well.Mosqui
streamlineinvesting wrote:CasaHunter wrote:streamlineinvesting wrote:This was one of the biggest concerns we had with our agent in Florida when we got our first house. We had never met her, even though we had been dealing with her for over a year before we finally got to finalise on our first property. Towards the end there were ple…..ngs like this, we were able to build up enough trust in her, and now it has turned into a very great business relationship.Hi streamlineinvesting, could I ask you which agent did you used and where did you buy the properties?
Thanks!No problem, we purchased in Florida, Fort Myers area. And our agent was a poster on this forum, her name is Judith and posts as ActToday, send me a private message if you want her contact details.
Thanks
I also used Judith, excellent, very professional and honest. Couldn’t done it better myself. She got a lot of experience here and in Florida too now. She also owns houses in Fort Myers, so at the end of the day she is another oz investor in the US.
I know the Pilbara very well, you don’t want to buy anything in Roebourne.
Mosqui
I can only talk about WA and I think Karratha is a lot better than Port Hedland to invest as it has all the government agencies and the hospital. I lived in both cities and Karratha is a mining town with families and it’s a nice place to be, Port Hedland is not. Karratha has Woodside, Rio, BHP, Burrp Fertilesers, Dampier Salt and the port of Dampier feeds all the oil rigs in the area. A lot of big industries, a new town development coming up and a big future.
I done some research about Morambah and looks interesting too, but I would like to go for a drive one day. Dysart was in my list too.
Just my two cents
Mosqui
I understand the idea of not to invest in mining towns if you have cash, but if you are going to get a mortgage I think it’s a good way to have a good cash flow and save money for the next investment, so then you can also buy some properties for CG. Everyone have a different situation here, and we have to adapt to our own situation.
Good post.My View
Mosqui
I haven’t bought any property yet and still doing research, but looks like you only had feedback from people selling, not investors like you.
There are a lot of posts about companies and different people’s experiences if you search the forum. You have to narrow the area you want to invest and then the companies working on that area, but I think you should make a trip to see it by yourself at least once, I know you work as a contractor, but I’m sure your rate allows for some time off as well. At the end of the day you should not trust anyone with your money, but it’s all about risk, like any investment.Hope this helps
Mosqui
You can make money working, everything else has a risk, then you have to ask yourself how much risk can you take. Don’t expect anyone to answer this question for you.
You can make a lot of money in the casino if you are happy to take the risk.
To see the capital growth you need a crystal ball, don’t believe in anything elseIt’s a lot of information on this Forum about property in the US. Just go through the forums and you will have most of your answers regarding LLC, locations and possible finance.
Basically you need a LLC (easy to set up), a bank account and a representative(or whatever you want to call it) in order to get all the communications. But get your own research done before you start making contacts.
I think that the main problem is to contact a good property manager in which you can trust, as it’s not easy to maintain a house from Australia and even if you have a good deal when you buy the property; a good management it’s the only way you can get a good return and make the business viable.
I’m also doing some research and will buy properties this year. I’m in WAMosqui
I think that you can only claim as long as you are receiving income from that property, so the claim is against the income. If you are living in the house you should not be able to claim anything.
Check with your accountantI’m not sure, but if you create a family trust you can get the same result but cheaper.
What the experts think about this?cheers
Mosqui
Send me a PM and I can give you some info, your PM is not activated at the moment
Keep reading, reduce your debt and learn from other’s mistakes, this will save you a lot of money. The US market is very strange, like any financial crisis you can not predict the movement much, even when you can see some indicators, but you should not rush to get into action yet. There are cash flow positive properties in australia right now, most of them mining towns.
Read, learn and think which strategy you want to follow, so how much risk do you want to take.Don’t get anxious.
Good luck (you always need some)
Mosqui
You should get a personal loan and pay the credit debt first. You are paying too much interest on your debt at the moment
To start investing you have to change you habits and understand that you have to spend less than you earn, pretty basic rule
.So, why don’t they do the business then?
This is usually the first question I ask myself when I see a good deal, why someone else has not done it already? These companies selling big dreams, why they don’t buy them instead of telling you about? They will say that is not their business, but usually the truth is that the risk is higher than they tell you.I have two friends at work
1. Extension on their house would have cost about $250, but since they are doing the contracting, they are saving about $100k
2. A friend is doing what I am doing, and I think he said his saving is $120k+They “are saving” ??? Ask them after they finish.
The builder do not charge premium, they charge for contacts, experience and relationship. I think that if you want to save money eliminating the builder is not the place to start.You can also use Google instead of going to the doctor, but their experience could be useful , don’t you think?
Mosqui
This is crazy, you mean that people should not have investment properties, do you? Then this forum is not really for you.
I think this thread is confusing for everyone because Istvan has not explained the concept clearly from the begining
