[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

May 28, 2015 - 6:10 pm

Franky if you cannot afford to pay an accountant you should not be investing in the United States.

You are better to work with an accountant. If you make a mistake in your taxes the IRS are much stricter than our tax department

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

May 27, 2015 - 4:46 am

I have just been in Florida and the markets are moving well. It is interesting that the time on market is a little longer than it was last last year. We are focusing on more expensive houses $160,000 to $400,000 because there are more owner occupiers who ca get finance in this range. I spoke to an accountant I know well in Texas and he says that the housing market has slowed there as well.

One reason could be that as the markets improve the banks are foreclosing on people a little quicker.

Because of the dollar dropping we are not recommending straight by and holds but buy and flip. I do think that new homes aimed at tourists is an option and we also focus on commercial property. The population is expected to grow a great deal over the next few years and I believe that Florida will continue with strong growth.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

May 20, 2015 - 9:55 pm

The problem is that many people have been turned off investing in the United States because of bad experiences. It is important to realise that many companies that sell property are buying properties sight unseen or fully renovated that are often over priced. It is important that you do your research carefully.

<moderator – delete advertising>

I am just saying that not all companies are the same. I think it is difficult for most people to do this on there own.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

May 19, 2015 - 4:15 am

Hi Ben

You should have a look at the work we are doing

We are based in Orlando Florida I am here at present but will be back in Australia on the 24th May and would be happy to have a chat.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

May 15, 2015 - 6:17 am

I would agree with Ben serviced apartments make a bad investment. The cash flow is not that great and the capital growth is very poor. Often companies sell this stuff based on the cash flows however in most cases you need between 30 and 40% deposit because thee properties are considered commercial.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

April 25, 2015 - 7:02 pm

I agree that you have to be careful with how you deal with however unless you are prepared to invest a lot of your tie on the ground in one location you are frankly wasting your time. It is a bit like playing Russian Roulette because you have no idea how things will turn out.

I own a business in Florida and have a partner who lives in Orlando. I travel to Florida on a regular basis in fact I will be there for the second time in two months from the 6th May.

I believe that who you deal with will make all the difference. We do provide a complete service but work with our clients we help you buy and renovate and do everything from houses to buying hotels. Do you research carefully make sure whoever you are dealing with is based on the ground where you are buying. Because in many cases you are dealing with wholesalers.

Any houses we buy are fully inspected and assessed before we purchase them. Happy to provide more details

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

April 13, 2015 - 3:32 pm

Thanks Engelo

I fly in and out of Florida every few months and have a partner on the ground full time

I do not doubt your ability and who you are dealing with in the ground s critical. I am not interested in dealing in the bottom of the market and believe there are much better and safer markets to invest in.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

April 12, 2015 - 6:55 am

The fact remains that there are far better places to invest than Detroit. To me a state like Florida offers solid population growth and a stable economy. So why would you risk putting your money into Detroit?

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

April 6, 2015 - 6:37 am

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

April 1, 2015 - 6:09 pm

MJ

Yes the finance we organize through private lenders.

In terms of the process we look at mainly banked owned property. So if the property looks good from the street we will make an offer subject to a 15 day due diligence period. We then send through one of our builders and a roofing specialist and providing he costs are coming in as predicted we then close the deal and commence the renovation. Once completed we still price the property at under market price thus putting it to the top of the list. We are also opening these homes for inspection and running first home buyer seminars

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

April 1, 2015 - 6:04 pm

Hi Jmsrachel

Yes your numbers are about right its based on what you invest so if your 50% deposit was $80,000 and your renovation costs were $20,000 we would borrow the other $80,000 through a short term lender and you will fund the $20,000 for the renovation so yes the 20% is based on what you put into the deal its a cash on cash.

We set up an LLC so that the property is purchased directly from the bank or purchaser. So the property is owned by you from day one. The time on market depends o market conditions but if its only a cosmetic renovation 6 months should be the worst case scenario. This of course is for flips the hotel program is completely different.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

April 1, 2015 - 9:29 am

We do not buy anything unless it provides a 20% net return on the cash invested. In terms of the times we are now saying four to five months from the time we locate a deal. It may well happen quicker than that. We now only bu if the properties only require a cosmetic renovation. We did make the mistake of buying some deals that needed permits and although the profits are there it did blow the time out.

If someone wants to do this themselves you need to do your due diligence very carefully. Who you deal with will determine your success.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

March 31, 2015 - 4:20 pm

A brief video inside one of our homes

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

March 31, 2015 - 4:14 pm

The minimum investment in a flip would be around $50,000 US and for the hotel deals around $100,000 but could look at less.

In terms of existing deals we are working on one at present that the owner is prepared to do vendor finance for 25% down so we would need 1.5 million to raise the funds. This is a 52 unit hotel complex with a restaurant that brings in as much as $80,000 PA We hope to have a webinar on this property in the next week or so. However once we have done he numbers we like to get them fully checked by an accountant.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

March 28, 2015 - 7:24 am

Yes I agree Judith. Florida is heading in the same direction as Texas with large numbers moving there it is putting upward pressure on rents. With the economy improving there it is a great place to invest.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

March 25, 2015 - 7:40 pm

I also spend a lot of time i Florida and have a full time business partner in Orlando who is fully licenced. Frankly there are a number of great places to invest in the United States including Florida and Texas. With 79,000 vacant buildings and a bankrupt city I cannot think of any good reasons to buy in Detroit. There are a lot of other places to make you money work so why take the risk.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

March 17, 2015 - 4:18 am

Jay is correct I do not think you need to complicate things to much

Below is an interview I did as a webinar with Emily Ray a very good accountant based in Florida that really knows her stuff when it comes to international investors it has her contact details at the end

In terms of investing your success comes down to who you are working with. The right person will make invest great the wrong one a nightmare

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

February 27, 2015 - 12:43 am

Generally for tax reasons it is better to set up an LLC in the state where you are purchasing. There are often different costs with some states charging heavy penalties.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

February 10, 2015 - 8:12 am

Hi Jay

When I first got involved they were selling Buffalo now its Detroit. However what I really dislike is most of the marketing companies deal with a so called Wholesaler often not even based in the city where they are sourcing properties and in many cases the Australians pushing this service have never been to the United States. I was approached recently from a guy who did a course with a US group who came to Australia paid the $15,000 and was told he could easily buy properties without going there. His intention was to buy these properties for investors. What crap yet how many Australians have lost money and how many of them do not know they have lost money.

You work in the market Jay I have a partner on the ground and I intend to spend every second month there this year. In other words I put my money where my mouth is. So it is important to do your due diligence carefully. In my opinion America offers some of the best buying opportunities anywhere. However who you deal with will determine your level of success.

• This reply was modified 9 years, 2 months ago by  Nigel Kibel.

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today

[Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425]

February 6, 2015 - 1:54 pm

I have a great accountant who is in Florida private message me and I will supply the details

Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone Me

We have just launched a new website join our membership today