HI,
I will be heading over to the US three weeks as of this Saturday. I’ve been very interested in investing in US property for a while now.
I’m after either a high net cash flow or something that could be improved and resold for a reasonable mark up.All comments and advice are welcome.
Also can anybody know any good contacts. I don’t mind paying a finders fee if I get a good deal.
My schedule is flexable I don’t mind flighing somewhere I’m interested in for a day or two.
Thanks,
Mark. – [email protected]
Mark
Why don’t you get in touch with Chad Simons from Melbourne who is over there at the same time.
Chad has helped many of our clients with their USA properties and offers a great investment service.
In my opinion i like to deal with someone ethical in the industry who actually in interested in the client not just lining his own pocket.
Email him at [email protected]
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Hi Mark,
I’m heading to Buffalo and San Antonio on the 22nd of this month for 11 days. I have posted just recently asking for interest in doing the tour with me. So far I’ve had a few interested and at this point of time I’m meeting with 2 people over there.One being Chad and one of his associates who I have met on a tour of USA properties 6 months ago.I personally have 3 properties in Buffalo and a share in a property in San Antonio so if you or any others would like to head over please drop me a line.[biggrin]There are 3 types of people:1. People who make things happen.
2. People who watch what happens.
3. People who wondered what happened.Not long ago bought a pre forclosure deal through Chad Simons and picked up good equity which I can refinance or sell later on down the track..
Might be worth while calling or emailing him as he looks like going at around the same time and can point you in the right direction.
At the moment he’s got plenty of rehab oppotunities which can be onsold for quick profit but all depends on your risk /return ratio on what and how much you would like to make.
Plenty of opportunites over there!!!!
Hi Brisbane 04,
How are your Buffallo properties going? I have heard a few horror stories about property managers failing to collect rent and agents telling lies about rent returns and current tenancy situations.
It would be interesting to hear what your experience has been like. I hope that it has been positive for you.
I went to San Antonio in Dec 05. Unfortunately I didn’t get time to look at property closely because I was there for a work conference. I loved the city precinct and the cafes along the River Walk. Like any large city it seemed to have some dodgy residential areas but I have heard the are some good returns available there.
“Remember the Alamo” Yes, you are sure to remember The Alamo because it is smack-bang in the middle of the Mall.[biggrin]
While I think of it, you have got to go to ‘Fuddruckers’ for a burger (make sure you pump on plenty of melted cheese)[blink]
Philly burgers are nice too.
Better go-I am beginning to salivate.[oink]
Regards
Todd Burns
http://www.freepropertyhelp.com.auMark,
As Richard said be careful of those who advertise on here to spot properties and line theer pockets in Us, there is an awful lot of it going on and it isn’t a good deal. Chances are that they are hooked up with a local company that pick up properties dirt cheap slap on a coat of paint and then mark them up 50%. The houses are then sold at so called retail you get charged by the “spotter” agents and he also gets a fat referral fee for the deal from the US company. This is not spotting this is the gravy train and it seems to be rife around here.
Spotters are supposed to find you good undervalued deals and I know for a fact that most of the spotters down here that are working the US are just feeding the lambs to the slaughter.
I don’t come on this site much but when I do I am surprised that certain posters can advertise as much as they want and others cannot.
If you are buying houses in buffalo etc you should be looking for a renovated property in a decent area with a gross yield of 25% and no spotting fee. There are other ozzie guys that are doing flips etc and selling good properties to investors at those yields and higher, they don’t charge spotters fee either. They work hard they get properties they renovate them and then make a small profit when they onsell not 50% in a couple of weeks. So be careful of those that advertise spotting services on this forum as there is absolutely no gauarantee that you are getting value for money.
Piggy,
I agree with everyhing you have said in your post. Including the issues that Buffalo currently has going with homes being sold overpriced.I am one of those Aussies who are buying,rehabbing and selling for a small profit in Buffalo. I have established a great relationship with a guy in Buffalo and we go Joint Venture on the deals. I felt obliged to reply to your post because I do have a real estate business focused on investors .I actually found your post very encouraging as peolple do need to be aware of the “potential” risks associated with the USA market.
Thanks for the word of caution. I think everyone contemplating investing over there appreciates it.Providing Turnkey Real Estate Investments In The USA.
E-mail:[email protected]
Hi Piggy,
Just a quick response I’m not a spotter and I’m not on the gravy train just trying to find some deals in Buffalo and San Antonio.
[biggrin][biggrin]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 Todd,,
I’ve had my Buffalo properties for almost 5 months and purchased them through Dan Guidenski, he owns a business in Buffalo called Pilgrim Properties.He basically picks up cheap properties, rehabs them and onsells them to investors. He provideds tenants for them. At present I’ve spent approx $700 on repairs for all 3 properties which I guess is not to bad considering I paid $120000 US for all 3 of them.So far touch wood the tenants have paid their rent on time.I’m getting just on $2000 US per month for all 3.The only complaint I have at present is that I’m having some trouble communicating with my property manager, while I’m over in the USA I will look into alternative options.
With regards to San Antonio I found it to be a beautiful city with great potential.The Riverwalk was fantastic and the people were all friendly. There is a market square near the Riverwalk which hosts fairs, celebrations and festivals I attended an accordian festival there last year and had a great time, the people were so friendly and they loved Aussies. The strange thing about the inner city of Buffalo and San Antonio is that the closer you get to the city the rougher the neighbourhood.Both these cities have recognised this fact and are in the process of improving these neighbourhoods to encourage people to move back to the city.So I do believe opportunities do exist in these areas.
Ok more importantly where is Fuddruckers I will try to get there.One more what did you think of the meals there especially breakfast?
Regards Martin[biggrin]There are 3 types of people:1. People who make things happen.
2. People who watch what happens.
3. People who wondered what happened.Piggy,
Not sure if I know you but I am one of those ozzie guys selling property in Buffalo and Rochester. Based on what I have seen available up there over the years I like to think that I am offering the best of deals for the investors that buy from me and yes it is hard work and the profits are small.
I to have noticed that this forum lets some advertise and others not. I had one line in a previous post edited by moderators as advertising. It was a relatively innocuous statement and no where near as explicit as a lot of the sales adds that you see on here not a big deal for me though. I find client references the best method of marketing and I don’t have enough properties to sell to all those that want them. It’s a slow process rehabbing you don’t have any income when doing this and it certainly aint 50% in a few weeks. And sooner or later you are going to get a budget blow out.
Chad,
Will drop you an email as it sounds like we are doing the same thing.
Brisbane 04,
Try DASA in Buffalo they aint perfect but they are a lot better than Dan’s property manager.
Yes US inner cities are changing. I lived in lower east side Manhattan 20 years ago and it was a ghetto then. Don’t know if you have seen the movie Taxi Driver a lot of that was set in the lower east side. They started cleaning it up when I was there and I went back there last year first time in 20 years and it is yuppyville now. In fact NYC has cleaned up so much it is the biggest change that I have seen in a major city. Took my son to Harlem and it is absolutely fantastic what they have done there its great to see black Americans getting into investing and improving neighborhoods NYC is my fave city and I hope to buy there in the next slump. The only way for Bufflao is up its just off to a very late start. Read a great article about where the next high growth city of 1 million could be inUS and Buffalo was a contender based on affordability, education, infrastructure and arts. It is also situated next to the biggest fresh water catchment in the world and we all know that water streeis a major issue in the southern states. Build a pipeline I reckon and sell it to the parched southerners and the profits will be used to abolish property tax in Buff and Rochester..
Todd,
Yes there are a lot of horror stories up there. I have seen this con happening to investors knew quite a few UK guys that got burned big time up there in 2004. Biggest concern that I have seen with ozzies is them paying over the odds the local investors hate it but hey it brings the market up.
Trick is knowing your team. I have found rents come in well my PM takes a while to find them as he is very fussy but once in they stay. He has a good contact in section 8 this helps and for some reason he gets above market rents.
Had a good experience recently with a house in Ft Worth I was told it would lease at $1600 a month which I thought was high but it did and signed them up for two years plus they pay all repairs and maintenance. the deal only cost me 5k…
Hi Bardon,
DASA is the PM team thats been recommended to me. So that is who I will be following up with whilst over there.Could you drop me a line to let me know what you are doing.
Thanks Martin[biggrin]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 All,
Brisbane 04- ‘Fuddruckers’ is near the Marriott River Centre. It’s in the same street as the Alamo (across the other side of the
street).The breakfasts at the Diner behind the River Centre were unbelievable. You won’t like them if your into health food though. I ate waaaay too much.
Bardon- Ft Worth deals sounds excellent. I have seen the Dallas area but didn’t get in to Fort Worth. Was it a foreclosure deal?
Todd Burns
http://www.freepropertyhelp.com.auHi Mark,
My name is Lisa and I moved to Tennessee 6 months ago to invest in property. I have recently got onto a great contact where they have some great properties in Nashville ready to re-hab. One of the deals I am working on now is..
2 bedroom house in downtown Nashville $36k
major re-hab including 3rd bedroom $20k
total upfront 56kLow comp’s in the area $80k 2b/r or $110k 3b/r
These types of deals are hard to come by and I am looking for someone to pay cash for the property and re-hab.
Then we would split the profit.
In return I would ensure that all the work is completed quickly and up to my standard (I am very fussy).I would then choose a realtor who is known for high sales to sell the property as soon as possible. How I would choose the realtor is ,I have a list of the top award winners in the area (recently in the Tenessean newspaper).
Obviously I work check on the work daily as it is in my best interest as well as whoever is my equity partner.
I think you really need to be living here if you are helping people with re-habs as there are so many horror stories.
It has taken my a while to build up my contacts and am happy to help anyone invest in re-habs. I have a few more that I can offer that just came in on Friday but they will sell fast.
My cell no is 615 243 5397.
Call me if you want to chat some more.Lisa [biggrin]
http://www.realestatepropertyfinder.comLisa Lammers
hi Todd,
I meant Todd ,not Mark [blush2]
LisaLisa Lammers
Looks like the advertising has started up again.
Lisa were you connected with the organisation that took $17000 USD off a finance client of mine only for him to find that they ran off with his money. He didnt find out until the Bank did a revaluation on his property and to his dismay was told that the property hadn’t been rehabbed after all.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Hi Richard,
I don’t know what you are talking about ,this is the first I have heard about this. If you have something to say to me ,please call me ,as I do have a lot of respect for you. I AM NOT associated with any scam and have not been involved in re-habs before for any of your clients.
I am dissapointed that you would publicly acuse me of something that I have no knowledge of.Lisa
Lisa Lammers
Hello All..
My name is Sheyla Aslan and I work for Positive Cash Flow properties here in Austin , Texas .We specialize in working with out of state investors who wish to buy residential or commercial properties in Texas.
Our residential properties are all new quality properties still under warranty from the builders in the best areas of Austin.I have some current articles I can send people with facts and figures on the residential market and job growth boom here in Austin,Texas. These articles are comparing the Austin market to others even to the extent that this market is being compared to what Las Vegas was a few years ago.
Please find as well information on our company and why our clients like to work with us.Here are some of the benefits of working with us :
1) All of our properties are new and under 10 year warranty from the builders we work with.
2) You do not pay any commissions to us or a realtor on our properties as we paid by the builders.
3) Most properties the builders will pay your closing costs as well if you use their lender.
4) We contract with the builders to have our properties built so we are holding these properties with our money and risk .
5) Our three principals of the company have 90 years of real estate investment experience so you working with
seasoned, highly experienced professionals with unblemished reputations.6) We can find commercial properties for those who want to look outside the residential market
7) We pride ourselves on the personal and quality service we give to every client . Eighty percent of our
business last year was by referrals.
We have an in house leasing and management company who will work with you even before you close
` on your property to find you renters / tenants and then manage the property for you in the long term
leaving all the headache of day to day management out of your hands.We would strongly suggest and welcome you and/or your clients to come out to Austin to meet us
and view our market. Our market is exploding and properties are selling out fast as you can see from the
newspaper articles.
You can also read more about us and see a partial list of available properties at our website.
http://www.positivecashflowonline.comPlease find here all of my contact details. Let me know about any other information you may need.
I look forward to working with you,Best Regards,
Sheyla Aslan
Marketing Manager
Positive Cash Flow Investments
Ph 1 800 633-2895 ext 240
Email; [email protected]
Cell 512 426-8852Sheyla Aslan-Positive cash flow properties-Austin, TX
[email protected]
512 426-8852Richard thats a pretty quick assumption to make, and as for advertising check out your own signature, Pot, Kettle, Black, but young sheyla’s post should be reomoved as it is blatant advertising
Moderators do your thing..
when the going gets weird the weird turn pro
Kiwiduvet,
I would like to personally thank you for sticking up for me. You are right about the pot calling the kettle black and besides we all do advertise to a certain degree. I constantly see negative remarks about each other and I thought we were all here to help each other out with investing. I believe in Karma so I am not about to comment on any other fellow members but all I can say is there is plenty of opportunities out there to make money so that’s what I have moved to the states to do. As for the $17,000 that went missing maybe someone can shed light and let us all know who to steer clear of. This time someone should get there facts right as it was wrong to accuse me.
Lisa [jerry]Lisa Lammers
Heh i don’t think we are talking the same language here.
Placing an occupation and a contact number on a signature is a but different to a whole post relating to what you can do for the rest of the world.
Lisa I wasn’t acusing you of anything i merely asked you a question given our previous email correspondance
Obviously everything in the world of US rehabbing is not as white as white and I now have a client who had trusted someone with his hard earned money only to find they have lined there own pocket.
All i am saying is make sure you check who you are dealing with when purchasing abroad.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
We have an in house leasing and management company who will work with you even before you close
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