I would be interested to share and learn what location others have, or are considering, investing in the USA. I am happy to collate this information and publish on the forum to help everyone else understand each others strategy.
So please go ahead and share. I am sure like others keen to know what has drawn you to an area, what type of property you are comfortable buying, including the age, size location etc.
The American market is vast and quite daunting to many people that have been in touch with us.
Everyone has a different strategy and it would be interesting to grow our knowledge by understanding what others are doing.
I am happy to chat on the phone if you wish to discuss.Look forward to helping others in their investing strategy by sharing ideas.
I am thinking about Detroit and Atlanta because that is what the English company I prefer seems to be offering but am totally in the dark. I really thought I had missed the boat as regards American property but it seems not entirely. Would welcome anyone else's comments about negotiating this minefield. My conclusion is that the Australian property market is a bubble which will eventually burst. I'd also love to know how other people manage to put together positively geared investment properties as I seem to make really hard work of this and don't think I have achieved much compared to other people in terms of property investing.
Hi Virgo,
We know how tough property investment can be we have been doing this for years trying to get decent property deals over the line.
We are happy to discuss potential investment areas and have spent the entire weekend researching certain areas, population movements and rental returns.We have quite a bit of information on our blog http://www.usaforeclosures.blogspot.com which we have set up to help others with investing in the US market.
Rather than typing long hand (not that fast) please feel free to PM me your number and I can go through any questions you have or contact me on the mobile.
Kind regards,
Thanks Bronwyn, I have read part of your blog – very informative and will finish when I have some more leisure – I spent hours on the weekend trying to research Detroit. Would love to talk to you. I am determined to do something property wise in the US in the next few months. Will email my number to you and perhaps we can have a chat.
I was going to say anywhere except for Detroit. Yes they are cheap, but where will growth come from, it is a dying town.
I disagree that Detroit is a dying town. Yes they are in the duldrums at the moment with the car industry the way it is, but I believe there is no way that it will entirely fold, one way or another it will survive and the town will pick up again. There are thousands upon thousands of people there needing to rent. Even the US Gov. is helping them out.
I have heard a figure of 27000 people per month looking for rental accomadation.Detroit / Investing in America
Get the real deal and see what's really going on
Detroit is firing with passive income like many other parts of America
Get yourself on an investment tour and learn and invest, best of luckI have now spent so many hours researching Detroit property but I have to say the more I know the more I am put off. For example, one area which I was told was a nice middle class area, Bagley, came up as having 63 sex offenders in the area when I hit upon an interesting site you get to if you just google the zip code. Then another real estate agent I hadn't tried before brought up hundreds of houses ranging from less than $100 to the low thousands. Another site in which Detroitans and ex-Detroitans shared views about the current plight of the city was also illuminating. There are no less than 12,000 empty and derelict buildings in the heart (well it has no heart really it would seem) of the city and as those buildings are gradually being demolished wild animals are literally moving into the vacant open tracts of inner Detroit. Can a rustbelt come back? It's cheap and there are some nice houses but you have to put this alongside the regular incendiary attacks on the Devil's Night (night before Halloween) each year and even though they are less than they used to be, they are still in the 100s. So what a peculiar and fascinating place but a place to buy????
The same people that invested in Buffalo will now invest in Detroit. They never learn. People will line up to buy because they are cheap. The same people will complain when they cannot collect there money.
If it seems to good to be true it is. The market may also be being inflated because of all the investors. Can you make money in Detroit, sure, but you need to be on the ground. Being a passive investor there is not going to be a great long term experience. There are many other great places in the states to invest that make far more senseNigel Kibel | Property Know How
http://propertyknowhow.com.au
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So you have been to Buffalo and looked at the market first hand?
I have walked through many homes in Las Vegas, Rochester, Buffalo and Detroit just a few months ago and thesemarkets are worlds apart could not even be compared to one another (Buffalo & Detroit)
for example homes under $30,000 in Buffalo were about the same price 10 years ago
Homes in Detroit under $30,000 were well over $100,000 2 years agoThe quality of homes are very different also and rental demand for a good home in a good area is very high in Detroit, I should know I own rental homes there
I was on the ground and I going back in March, If you don't feel great about Detroit fine
One less investor who won't be in my way
If you change you tune and want to see for yourself try my property tour it will change your mindHi there
I'd love to work with others to research American states. I've been looking at this site http://www.housingpredictor.com/index.html. I've norrowed it down to these states based on their predictions for 2010 (and I'm trying to stay away from terrible climates). Happy to hear any thoughts/comments on these states before I start researching them further. I have no idea of the house prices or rental yield yet.
– Ohio
– Louisiana
– Nebraska
– South Dakota
– Pennsylvania
– TexasWell Jason
That’s you opinion. Detroit has just been named by Forbes Magazine as the most dangerous city in America. Seems like a great reason to invest there.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Sounds a bit defensive Nigel
I speak from first hand experience and own property there just trying to let investors know there are bad areas in every city which to stay clear of, but in the good areas of Detroit it is bargin buying with strong rental demand with homes at 70% below market price.
Sure don't buy there keep putting it down, stay clear, the sky is falling, watch out everybody run for cover, the more bad press the more bargains also it is the hottest spot on the planet for property investing today, did i not mention that.
I agree it has high unemployment and high crime but that draws attention to Detroit and also causes action and support which generally means money from the feds.
Programs are under way just check out some positive stories once in a whileNot at all
I just have a different view to you and others as where are the best places to invest. There is no black and white answers. I just prefer Texas. It has a thousand people a day moving there. Bet you cannot say that about Detroit.
I have no doubt that you mean well and that you provide a good service. So I am not questioning the standards of your business I just do not agree with you . I think that there are better and safer places to invest, rather than Detroit.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Is it just me or does anyone else think that Jason is giving us the hard sell???
Everyone has the right to their own agenda I guess. My agenda is that I would like to purchase at least two properties using cash in the coming months in the best location I can find within the States.
This means I need to research rental yields, capital growth, unemployment etc. Feel free to join forces if you have a common goal.On a separate note does anyone know of a tax grant for people buying houses that is set to end on 30th April?
Feel free to purchase your investments where ever you feel the best deal is I was only speaking from my search in the UAS in July this year where i walked through many homes in many areas and looked at the plus and negatives. Like I said you should buy where you feel most comfortable.
Detroit works for me maybe not your cup of teaI will prefer California as best. Because value of land here is good and it is rising. Communication, facilities, weather everything of here is quite satisfactory. Moreover new projects are under construction. So easily you can get a property here.
I think every investor is different in terms of risk tolerance and budget. My personal opinion is that Indianapolis, Dallas, Austin and Houston are very strong markets offering great returns. Both in terms of rental income and capital growth. I believe California is a great market and would make an amazing vacation/second home, but the prices need to come down more before the figures work.
RichardDo you think the fact that all the US states are bankrupt makes any difference to which one you invest in?
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