Forum Replies Created
Jay
that is a concern though, if these funds throw properties back on the market in a couple of years, will this flood the market again and we will actually see a drop in property prices??
When do you think prices will level off.
Shame, RJ sold his properties from what I saw they certainly looked very nice.
Cheers WI
Hi Jay
that is interesting, when I started investigating the market in Atlanta I contacted RJ about the Atlanta market he was buying up big in Henry County, am sure he has done very well.
Cheers WI
me too:)
http://www.buycashflowproperties.com/wp-content/uploads/September-Newsletter-2.pdf
I think this newsletter has some very interesting insights.
Cheers WI
Hi Jay
When the Oz market starts to rise working up to a boom it is crazy.
Real estate agents don't return phone calls, multiple offers, infact some investors/buyers will offer over the asking price just to secure a property.
I have been through a couple of property booms now and I can also say that some properties in tightly held areas will not even hit the market as Real estate agents have buyers cashed up ready to buy.
However, on the flip side when we experience a crash, the higher the price the harder they fall, blue chip properties are not immuned.
We have experienced a downturn in the Perth market for approximately 6 years and blue chip areas have been the hardest hit, things are just now starting to stabilise and there are positive signs that the market is in recovery. I must say though we experienced a boom in Perth from 2001-2006 an incredible run, during this period you could have purchased anywhere and made money, commercial and residential.
Cheers WI
HI Jay
thanks for this interesting article.
In the article they have written rental returns of $1500 per month in Lithonia seems high, I wonder whether this is correct? What sort of property this is? As the highest I have achieved in a good subdivision in Lithonia is $1300 pa, 2500 sq ft home.
Are these companies holding out for the higher rents? Any thoughts on this?
Cheers WI
Shape wrote:Ossi89 wrote:Hi, this is my first post on this site (I only joined 30 minutes ago). I am 21 years old, live in Sydney and have just bought my first investment property in Orange, NSW. I keep hearing stories about people under 30 on average incomes who have over 30 investment properties. My property in Orange essentially pays for itself so I would love to buy some similar properties. How do these people continue to get finance approved? (I realise this is a very basic question but I am trying to learn as much as I can as quickly as possible, any tips would be greatly appreciated) Thanks.to be honest- it's not about getting as MANY properties as possible….it's all about the strategy and overall "plan" I have clients who only has 3 IP and there "overall worth" in term of capital growth and rental yield was far more Superior compared to another clients who has 10 IP…. Regards Michael
How true, many focus on number of properties but we know it has more to do with equity and cashflow.
Cheers WI
Jay
I think it is really a matter of desperation, when foreign investors purchase duds and I know a few, they that just want to off load as soon as possible, they don't understand the system, they don't know who to turn to and they know that if they have a tenant in place the company can off load as soon as they send the property out to their data base, usually have lots of keen investors because of the yield.
Cheers WI
Yep, that's about right.
So I think there will be many of the 'C' class properties off loaded again.
These companies will take back the lemons and on-sell for the client as they just want 'out' and these companies will continue to take their commission, so I would be very careful if you happen to see some of the lower end or recognise a property that sold within the last 12 months ago or so.
I have actually recognised some properties that hit the market by the some companies sold a couple of times, nice earner, they take more than one bite of the apple and pass on the headache, nothing like sharing and caring.
WI
"So for me once I can lock in a nice profit and that is coming real quick in Atlanta if not already here I am selling, can;t make a profit without selling… Once new construction starts in Atlanta the used stock will not be nearly as saleable as it is today".
Hi Jay
For those who say Atlanta had no possibility of growth, did they get it wrong or what??
I see my property purchases have jumped at least 40%-50% in the last 12 months, lets see what happens in the next 12 months.
You mention above that you are going to be selling your stock before new construction starts.
Why would you do this?? If you purchased really cheap as I did around $18-25 per sq ft and new build is around $80-90 sq ft what's the problem, you sell at a reduced rate which will still make it attractive to a buyer and you make more money.
Also, I have researched building costs in ATL and I have been quoted from builders etc. anywhere from $65-90 sq ft to build in Atlanta, this would not include land.
Cheers WI
Hi Ryan
I have one question for you/US Invest?
Is this property in the link attached one of US Invest properties that is or has been sold to investors?
https://www.propertyinvesting.com/forums/overseas-deals/4345831
WI
Ok I will bite,
lets us all in on the new models.
I also see Steve also has a new model.
Cheers, WI
Hi Tash72
Have you purchased property in the US, if so how did you acquire your properties and where have you purchased?
Cheers WI
This is Detroit we are talking about…
Insurance is a waste of energy in US, you need it, however only really any good if the house burns down, the excesses on these policies are around $1600-2000.
Trying to minimise your risk can help, but I guess when investing in US it will come down to buying in the right subdivision/State.
I know a couple of investors who unfortunately purchased in the "hood" and they have not been able to rent properties, just lemons really.
Cheers WI
I think this may be one of their properties……………… buyer beware
https://www.propertyinvesting.com/forums/overseas-deals/4345831
It will certainly make it easier to rent as most will expect this.
xdrew
well done, and others who are just working it.
I have been creating cashflow with various strategies:
1. Purchased 8 properties in Atlanta at over 20% gross, this has taken me 12 months to find suitable properties which fit my criteria, unfortunately the market has moved and I can no longer find properties that suit this criteria. Certainly has helped my cashflow.
2. Another strategy which generates cashflow is finding a property where you can sub-divide and build at the rear, I just settled on one of these in Australia, this will provide great cashflow when completed.
3. Finding a property with a granny flat, the only problem with this one is they don't come along too often and sellers tend to try to sell them on yield therefore they are sometimes over prices IMO.
I have to agree with xdrew, I never ever listen to all the noise (negative stuff) regarding property, I always look for opportunities and go for it. There are always challenges with investing but I believe if you are passionate about this business you can have fun while building wealth.
Cheers WI
xdrew
well done, and others who are just working it.
I have been creating cashflow with various strategies:
1. Purchased 8 properties in Atlanta at over 20% gross, this has taken me 12 months to find suitable properties which fit my criteria, unfortunately the market has moved and I can no longer find properties that suit this criteria. Certainly has helped my cashflow.
2. Another strategy which generates cashflow is finding a property where you can sub-divide and build at the rear, I just settled on one of these in Australia, this will provide great cashflow when completed.
3. Finding a property with a granny flat, the only problem with this one is they don't come along too often and sellers tend to try to sell them on yield therefore they are sometimes over prices IMO.
I have to agree with xdrew, I never ever listen to all the noise (negative stuff) regarding property, I always look for opportunities and go for it. There are always challenges with investing but I believe if you are passionate about this business you can have fun while building wealth.
Cheers WI
I only build at rear for cashflow though there is most certainly equity in the deal, for example my total cost to build etc at rear today will be approximately $180K and rent will be approximately $420 pw for rear property.
If you find suitable site and repeat this a number of times there is no need to sell therefore building a portfolio which is cashflow positive.
Granny flat scenario has its negatives as many are trying to sell properties with granny flats at over inflated prices, also if you build a granny flat it is very difficult to access equity.
Cheers WI
I have used Ventura on a numbe rof occasions and they are very good
