Forum Replies Created
Orlando prices are now up by around 20% the last 12 months. Bids are often now above listed price. If you are serious about Orlando, need to get in now.
Regards,
Sparky
Hi,
I am affiliated with an Orlando agency, but also contacts in Tampa, Jacksonville and Fort Myers..
Steve
Hi,
Yes the prices are $20K for a reason. In the US you can still get some good properties for say 60K plus – and lovely homes for $100K with up to 70% finance. Location, like in Australia, is key. Why waste your money on slum areas when you buy into nice areas where people want to live.
Keep away from places like Detroit and upper NY state – these are bad news.
You will need to ensure the property is well managed and you have an online bank account.
Regards,
Sparkyoz
I prefer properties around 60K and above and they are harder to find now in FL. I keep right away from the 'cheapies' – bad
areas.
Sparky
Hi,
We deal with Florida – our focus is Orlando, Tampa and Fort Myers. We focus on foreclosures, but the prices are rising fast.
Regards,
Steve
Hi,
I think you have missed the boat. I deal with property in GA but stock there gone right down. I have townhouses around 60K but houses now really need around 90-100K. We do mortgages but usually only around 50%.
Regards,
Steve
Hello,
Yes, I have done property deals in Jacksonville. Usually do foreclosures around 80K as want to get something not too old.
Nice place isn't it?
Steve
Hi,
I agree with Jay – I am keeping way out of Detroit. Watch the bulldozers make it a better town.
I keep to Florida and Georgia.
Sparkoz
Hi Steve,
I deal with the FL market and I believe this is a fantastic opportunity here. I do not do any properties below 50K and concentrate on Orlando, Tampa and Jacksonville.
Happy to know your thoughts.
Regards,
Sparky
Hi,
Yes, i keep to Florida and Georgia and have been really successful. I never will do deals in Detroit for my clients.
Location is always key!
Regards,
Sparky
Hi,
Buying in the US is a great opportunity. However, you need to do the research and it is important to have the right team.
I have one house here but not buying anymore in Oz – too expensive, land tax and stamp duty.
I am buying houses in the 60-100K range in good areas in Florida, and so far no issues with renting out. The capital growth is around 10-15% pa and yield is 8-10% – compare that to here!
Anyway, happy to answer questions.
Regards,
Sparky
Hello,
We have a broker who does UK mortgages- you will need a good deposit.
Regards,
Steve
Hi,
I do not know what happened with the Victorian house.
I am investing in the USA and I believe has far better returns than available here as you can now get mortgages. It makes sense – high AUD and buying places up to 70% off. Also – no STAMP DUTY. However, that said, you still need your own house here and need to do a lot of research yourself. I would keep away from Detroit and upper NY state e.g. Rochester as too many vacant and old properties. I usually buy places around 5-10 years old in good rental areas.
Have a look at Trulia and Zillow and read up on local real estate sites/magazines. CNBC has good information too.
Regards,
Steve
Hi,
I like Florida – I am investing in Orlando and am very happy with it. Yields usually around 8-15%. Now that you can get mortgages I plan to buy around 10 properties. No issues getting tenants as strong demand.
There are good foreclosures available in Orlando, Tampa, Fort Myers and Jacksonville. A lot of cheaper places in Miami have already gone.
No state tax in Florida and the supply of foreclosures is going down – strong competition out there.
Regards,
Steve
Hello,
I used HSBC before – you can check with their Sydney office. Wachovia is still fine.
Regards,
Steve
Hello,
When is the next meeting?
Hi,
Yes, Florida is I think the best and has good returns. It is also on the up – vacancy rates are falling. i like Orlando, Tampa and Fort Myers.
Regards,
Hello,
You can use a few sites:
http://www.trulia.com
http://www.yahoo.com
http://www.ziprealty.com<moderator: delete advertising>
Steve
Hello,
Finance for the Uk is possible – Barclays or another broker we use.
Finance for USA is possible too.
Please note that each have their conditions – most UK banks only lend around 60% for Aussies and around 80% for UK passport holders.
US banks depends on state.
Regards,
