Forum Replies Created
Hey Obi-one,
I would say if yr looking at investing over there do some research on some buyers who have invested (for a min of 6 months)with the agent/company you are considering to buy through .Call the buyers and get a personal recomendation /understanding of the quality of property management etc. I would also recomend getting full seperate reports done on the propertys,not just a general building inspection.ie,Electrical ,plumbing,boiler/heater/furnaces,roof,etc
This is because the propertys are so old.Then u know exactly what you are in for down the track.
Buffalo takes a lot of maintenance and a really pro active manager to make it work.Otherwise the headaches are just not worth it.We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Yes, Be very careful with this company!
They have not had extensive experience in the area yet.We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Sounds like good news!!
What sort of time frame can yr clients expect to have a loan closed?
Thanks again.We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Ha Ha Far out Man youve had a rough trot!
Between this and yr other post youve had some real deals goin on!
Hope things have improved lately!
Do you have an agent helping you in managing yr propertys?We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Sounds great Richard!
How much specifically are the up front loan fees say on a 40K property?
Thanks heaps!We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
allymac,
hope you got my pm!
I have a good contact in Buffalo for management that i am happy to share with you as i know how frustrating it can be trying to look after yr investments from 1000s of ks away when yr manager isnt on the job.
He is efficient and he handles repairs at a very fair rate too.
He even phones on a regular basis to update progress!(thats a rare one)He also is one of very few guys who will manage in the “wild animal” of WNY, known as the buffalo eastside!
He prefers to only deal with people who have multiple propertys though (or those who understand the market and the issues that can arise)
PM me and ill give you his details.Then do yr own DD.We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hey mate,
send me a pm and ill give another contact for finance if needed!We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hey adrianj27,
Is that the meeting in sydney yr talking about?
Yes I went too!
They seem like really integral guys to me.
I know Chris actually(the young fella they spoke about)
and he is a really honest man!They say they believe in balancing out positive cashflow and negative (but hope full capitol growth ) investments ,which is good as long as you are working and have an income to live off!(and as long as u do get the 8.5 to 10% capitol growth they say shouldnt be a problem to expect .)
If u r keen to stop working soon u r better off trying to find (definate) positive cashflow and capitol growth (potential) in every house you buy.We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hello Summer2006,
I can understand yr concerns.
I personally have learned a policy in my business and that is dont do business with friends.
I find that little mis understandings can creep in and put pressure on good friendships.
Of course its yr personal choice as you know yr boyfriend and the situation the best.luke
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
The other thing Justallan is sometimes the variable rates come down too though
so if yr fixed at what is a lower rate now there is a possibility during the life of the loan the variable rates may come down lowerRegards Luke dematio
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
I was thinking people could put photos up of a house they had bought in the process of their own personal investing.(rather than people trying to sell propertys)
Then show people how much work it needed, how they went about it , how much they payed for the property and the general area.
Maybe not the exact street but a general description where the house is.
I just think this would inspire people.
I understand you are probably thinking it will cause an immediate investor driven boom in certain areas , which is possible sure.We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
DLPP what is yr reasoning for that being a bad idea?
It would help encourage newbies for sure .I guess people would lunge on the areas shown, but a bit of competition doesnt worry me.
Is that what yr getting at?We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Thats wild!
Thanks man.We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Top idea lukis p!
Pictures will bring inspiration and help make investing more tangeable for people.
People can visualise the actual propertys that forumites are buying and find new hope that great deals are still being made!
It will probably help people see what sort of quality propertys you can buy in a certain area for what prices too!
Good Work!
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hi Brucemarg,
Thats a great site! Thanks for the info!Something to keep in mind though, from my limited experience in the states ,is,
these types of websites can give you an idea of estimated values but
what a property is actually worth in the market (if you want to sell)can sometimes be 2 very different things .
They dont always take into consideration condition of the property or improvements that may have been done and other times they can over value propertys by a big margin too.Just check the local markets thoroughly before purchasing.
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hi there Sallybrowne,
good on you for going for it!Sounds like yr doing heaps of research.
Something that i like to do when buying ,is focus on one area at a time (once you find one that shows potential).
This way you can get out there with yr feet on the ground in the area and ask Questions and meet people,make future contacts etc.
I personally have found putting an add in the local saturday paper to be very powerful.
Also set up a email address with the area you are targetting in the adrress name so it looks really professional.eg:Maroochydorehomes@,,,,,,mail.com.au I usually say
–We buy homes/Investment proprtys for cash(Quick settlements if reqd)regards Luke(Dematio)
PS.be sure to check yr local state laws first of course
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hello Jenny,
Acquiring a bank account in the US wont allow you to instantly get finance through the bank,
(unfortunately!!)
But it is a great start.As after yr account is happenening you can apply for a uS credit card and this helps build a credit score with the bank for borrowing down the track(say 12 months)
Then after a period of time they can see you are not a credit risk and may give loans directly from the bank.(at a rate cheaper than the 3000 to $5000fees +high interest rates7.5%-9.0%+ that most lenders are charging foreign nationals )
The best way to get a loan through yr bank in the states( wny) is start with a mortgage from a broker and pay the high fees ,then after a good history over 12 months with that loan,you can borrow very easily elsewhere for the rest of yr propertys.
Note: other areas of the states other than west new york can be easier to get finance through the major banksWe’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hello Nick,
These things you have mentioned are a great start!
There is no subsitite for getting on the ground and just asking around.You will soon see if its going to be a goer or not.I would also try and think big and seek out connections in the bigger companies that may want to rent yr prospective propertys.If you can land a good multi -national company on a long term lease you are solving the biggest problem that comes with buying commercial property.(and profit well!!)
You have tryed the local Commercial RE agents as well?
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hello Alex,
Have you considered Commercial property?
It is actually not as scarey as you may think.
You just need a little more cash to start, as the loan ratio is usually at best 25-30% deposit downWe’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hey there sweet,
Any book by Dolf De Roos is worth looking at.
He has lived in Australia and New Zealand and was one of the very first Aussies who started investing overseas (Including the USA)
He advises Robert Kiyosaki too!We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
