Investing in Buffalo/ Rochester Good and Bad

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Rikky
Member
@rikky
Join Date: 2005
Post Count: 313
November 21, 2005 - 10:40 pm
World Changer
Sounds like you have set yourself up with a good team to invest with. How long have you been with them?
Is it like a syndicate?
Or do you still own your own propertys.
Please tell us more.
Cheers Rick
Monopoly, my favourite game
Luke Taylor
Participant
@world-changer
Join Date: 2005
Post Count: 415
November 22, 2005 - 5:06 am
Hey Ricky,
Yes these guys are great! But I can’t take the credit for finding them.
But when on to a good thing you stick with it hey?!!
It is not a syndicate I am in, just an individual buying my own propertys.I have been with them for a little while but more importantly to me is how long they have been around.The main guy involved in this company grew up in Buffalo and has been doing property for over 20 years!So has built up strong relationships in Buffalo.So refernces for him are not hard to find.
The first property I bought from him was advertised as a lower rent than what it returns! Now after buying more I realise that most of his deals are sold like this,(under estimated)to avoid dissapointment and give a good surprise!
This just shows one fassett of there Integrity .
Hop this helps
Regards
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 Me
Property Support,Strategist and Buyers Agent
Rikky
Member
@rikky
Join Date: 2005
Post Count: 313
November 24, 2005 - 1:29 am
Thanks for the repleys would like to hear more storys if there any.
Cheers
Monopoly, my favourite game
Mortgageman
Participant
@mortgageman
Join Date: 2004
Post Count: 164
November 24, 2005 - 3:33 am
Hi Guys,
Bardon is correct in that CPC are still open to lending to Australian investors but are extremely picky on the condition of the properties they will lend to and who they deal with.
Tish is fantastic to work with, but has been overun by Aussies trying to finance sub-standard properties. CPC is a non-profit organisation with the goal of improving housing in the area and will only lend to those who they see as upholding these goals. If an Aussie has a quality team on the ground and is committed to holding the properties for the medium to long term, they are still capable of getting finance.
Richard is correct in that the closing costs on loan amounts under $100k are generally prohibitive, but they will lend on lower amounts as long as the properties are in good shape.
The conditions are maximum 75% lend with 6 months repayments held in escrow for 5 years.
Regards,
Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044
95% Finance for Commercial Properties in the US
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
November 24, 2005 - 7:04 am
Cameron
I must admit I wasn’t aware that they now lent to Australian individuals.
I was under the impression that they only lent to USA entities.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.com
Specialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Mortgageman
Participant
@mortgageman
Join Date: 2004
Post Count: 164
November 25, 2005 - 2:25 am
Yes Richard,
You are correct, they only lend to US entities. I should have said CPC are still open to lending to US entities controlled by Australian investors. Is that better?
Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044
Rikky
Member
@rikky
Join Date: 2005
Post Count: 313
December 1, 2005 - 9:34 am
Richard out of all the people that come to you trying to get finance in these ares what % are you getting fianace for?
Monopoly, my favourite game