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A lot of people like section 8 housing. However I have also heard my share of horror stories as well. Because this is Federal scheme they tend to be very pro tenent. States like texas and Florida end to be more pro landlord plus the nature of section 8 tenants mean they are often problematic.
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It depends on where you want to invest. However if you are looking in the United States it is about who you have to represent you. Everyone will pitch you very few will deliver. Do your research very carefully
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You really also need to look at trading or making money. There are other issues like withholding tax which on rent can be around 39.6% or 10% on sale. If you have a c corp you may avoid the withholding on the sale but not the rent.
The other issue is estate tax or death duties. If you are a us citizen death duties only apply over 5 million however for a foreign national it can be from a dollar especially if purchased in an LLC.
Ivan is right it is very important to do you research and due diligence carefully.
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Clearly its better to buy when the market is flat. However what is really important is that you buy good property. In other words stay away from small apartments in the city in large blocks also avoid house and land packages in outer areas. Naturally dont touch in any market Student built accommodation. These properties will fall further than anything else once the market slows. It happens because these properties are downgraded in value by the banks because of the banks exposure.
Look at townhouses or apartments in small blocks ideally properties that will appeal to owner occupiers as well as investors. These properties will level out but not go down in value and will always appeal to quality tenants.
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The Problem Ivan is that there are plenty of third rate companies that are replacing them
It is a matter of finding someone you can trust
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If someone is making a commission and they are agents or marketeers and the property is in Australia why would you not spend a few $100 bucks to fly there and see where the property is? To me this is basic due diligence. Now you can look at photos and sales in the area and thats what you would do to start with. However photos may not show the car bodies in the house across the road or the brothel next door or even the overall neighborhood.
The only real way to get a solid feel or the area is to drive their and go through all the side streets around the property.
Nigel Kibel | Property Know How
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Well Jay I do not sit here in my rocker in Aus. I travel to America regularly and have a full time partner based in Orlando Florida
Nigel Kibel | Property Know How
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You are looking to buy in two high priced markets
Have you considered investing in the United States. It has just come off record lows and still has a lot of growth to go.
Nigel Kibel | Property Know How
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It is a matter of looking at there websites and see what information they have to share with you
Nigel Kibel | Property Know How
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Personally I am always wary of companies where no people are mentioned.
My business has always been transparent. You know who and what you are dealing with. if no one is mentioned be very careful
Nigel Kibel | Property Know How
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Personally I am involved in Florida. The weather is great all year round.
There are 1000 people a day moving to Orlando, plus you have a growing tourist market. Florida has just become the third largest state in America overtaking New York state. Plus Florida took a huge hit in the gfc. However now the markets are recovering there are many great opportunities.
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Thanks Don for your comments and I fully endorse what you are saying
The main reason to invest in the United States is to develop a portfolio. In my opinion the US market has 5 years of solid growth in front of it. Where the Australian market is at the peak of the boom.
However we are trading property rather than buying it for a straight investment. Also look at multifamily. We are also examining vacation homes in Orlando that are provide very high returns. We also have a hotel product.
Our goal is to make clients money
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Yes Detroit is a great place to invest, the city is bankrupt and with 79,000 vacant building lots of choices for tenants, freezing weather in Winter industry moving out.
There are much better places to invest in the United States
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This reply was modified 8 years, 9 months ago by
Nigel Kibel.
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The only advantage of buying in a company is if your were trading property in other words turning over 2 or 3 a year.
However if you buy in a trust its my understand that you still get the 50 percent capital gains tax discount
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Personally I would invest the money into the US market. I see opportunities everywhere at present. One problem is the devalued dollar but returns are strong.
I am not sure where the Australian market is going at present.
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If you are talking about small apartments then do not touch them
There are over 4000 apartments coming out of the ground in Melbourne alone so the only way the values go will e down with less tenants. The only student accommodation I would consider would be a house where you can rent rooms because it can be sold as a house
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The problem with doggy areas in often in a boom market these areas are over priced they are often the first areas to fall.
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The answer is yes but its a complex area
The best person to deal with this is Ivan from Redwood he is based in Melbourne but knows his stuff better than anyone I have dealt with especially when it comes to buying property through a self managed superfund.
If anyone asks me about buying property in the US through a superfund I put them in touch with Ivan.
He is on the forum but can be contacted on 0425 622 226
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Here if you buy in a company you do not get the capitals gains 50% discount. A good accountant should be able to advise you what is the best structure.
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Most Americans have a can do attitude the problem is they don’t have a cant do attitude. Many Americans will tell you everything is possible even when it is not. So if you are going to do it yourself I suggest you focus on one area and put aside plenty of time.
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This reply was modified 8 years, 9 months ago by
