Buffalo, N.Y., Housing Market Continues Hot Pace

Hi Nigel,
In your first post you mentioned that the increase in house prices is due to silly Australian investors I for one and those who have invested in Buffalo would take great offense to that especially from someone who has never been there. You described Buffalo as a whole as a slum once again you havent been there.I think research is very very important but part of that research is visiting the area you wish to invest in. Get a feel for the neighbourhoods, meet the people, talk to various people in different job positions ie police ,taxi drivers, fellow investors, banks etc.To find out whats happening in the city,the importance of visiting the city which you want to invest in is important. I hope you agree Nigel. I also hope before making comments on a city that you are making infomed decisions not merely based on what some of your collegues have said but from personal experience.As a person that proclaims expertise in property investing and delivers comments on a city many people may be turned off and thus possibly missing opportunities there.Also you mentioned that there are people out there who “think they know what they are talking about and who may be charging high fees for that advice” could you please elaborate who these people are.By all means I encourage people to do reearch on areas I also encourage people to visit where they want to invest. I discourage anyone to listen to those who bag a place who qualify themselves as experts who have done their research yet havent visited there personally. Martin

There are 3 types of people:1. People who make things happen.
2. People who watch what happens.
3. People who wondered what happened.

Hi Nigel,
At no point have I said I was a great researcher at no point have I said that I’m an expert in property investing. You charge for your advice and knowledge in this area. I have said on a number of occassion the importance of researching an area before purchasing in an area, I have also stressed the importance of visiting an area.Yet to get the answer on who you are referring to “think they know what they are talking about and who may be charging high fees for that advice” could you please elaborate who these people are. Martin

There are 3 types of people:1. People who make things happen.
2. People who watch what happens.
3. People who wondered what happened.

Nifgel if these “blue chip Other” areas of the US are so great why would you pass the opportunities on to other investors if the return is that solid long term, then why wouldnt you pick the best deals for yourself and make a fortune and shut up and nothave the hassle of dealing with others. Also if someone is puttin treir hard earned savings into a high risk ( residential investing offshore is high risk) area then i firmly believe they shoudl go there and witness each individual property for themselves

Good ramble Bardon Loved it

good luck all but if you are smart you would only ever invest 20% of your wealth portfolio on offshore investment unless you reside in a banana republic

when the going gets weird the weird turn pro

yes
but perspective i think is required for novice investors, when assessing opportunities, overseas property invesitng is high risk and that risk is not completely mitigated by research( whilst research is essential). experience and actual track record counts for a lot.

when the going gets weird the weird turn pro

That is point. To many Australians are buying off shore properties without doing any research. In terms of where we are looking we have some great places in mind. A few of use have already made a large purchase. However until we are completly comfortable with our research we would not recommend it to others.I will happily keep a journal and if possible I will post while I am in the United States. The reason that I help people invest is that if I assist someone not to get ripped off and I share my knowledge whats the harm in that. I do not care whether you use my service, the purpose of the post is to say, it does not matter where you invest if you are spending your money, do the research. If you do not fully understand what you are doing then do not do it.

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand Property Researcher and education
One Day property investment research workshop just $290 Melb 26 November