I recently saw an ad in a property magazine about investing in the US. The returns claimed are 14%+ net, some as high as 27%. Is this too good to be true?
The bloke who runs the company is in Sydney, his name is John Roberts. Has anyone heard of him? The website is http://www.usapostivecashflowproperties.com
If anyone has had any dealings with this company and can provide more info, I’d greatly appreciate it.Yes it is true on paper. However you have to remember that you are not in the US tax system. Also banks will only lend you around 70% which means that you will have to fund around 30% with either cash or a line of credit. If you buy really cheap properties such as in Buffalo you will be lucky to get finance at all. Once you buy a property you wil also find that property taxes are a lot higher than Australia. So a great return can be pulled back dramatically. Property management can also be difficult. I am heading over the the United States tomorrow to establish a property management division for a company their. We will also be buying forclosures and apartment complexes. Many of these services will be established for American investors however there are still great opportunities for Australians. It is simply a matter of understanding the rules.
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Yes and she throws in an ASIC spokesman to come along for free.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Ummmm…Richard is being sarcastic I think ???
Do yo mean ASIC send someone along to monitor what she is promoting as part of their investigation into her ??
Poor Dymphna….
kpHad look at John Roberts site and not very impressive hardlya comprehensive service, go yourself then you can work out for yoruself the risk factors, maintenance, taxes, property management. anyone who buys overseas off a photo without going there is taking a big risk, please allocate some value to your hard earned cash.
It has taken me a full 20 months to really understand the market over there and know when you are and when you are not being takne for a ride
when the going gets weird the weird turn pro
I have had a look at the John Roberts site as well and my suggestion is that you run very hard in the opposite direction.
Kind Regards,
Cameron Perry
Director
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044It seems that you need to run hard from most people. It seems that a number of people use their clients money to test out a market. No wonder we are hearing so many horror stories from Buffalo
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
as a minor contra to Nigel if you understand the market and take the time and effort to overcome the obvious pitfalls it can be like any market quite profitable, but you have to be smart and keep a constant eye on the market and what is going on with your current investments and potential investments, dont do the norm as you will get burnt look for smart alternatives dont follow the crowd.
You are very naive if you think all the best properties are being saved for us Kiwis/Aussies in a area boasting a population you are a fool if you think there are not some smart and savvy local investors making moves there, and yes they will always get the opportunities before you. You just have to work out where there is a genuine profitable opportunity and its not every proeprty that shows agross 25% -30% yield look behind the numbers.
when the going gets weird the weird turn pro
Yes, Be very careful with this company!
They have not had extensive experience in the area yet.We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hi All,
Have to agree with World Changer and Kiwiduvet,it would be very dangerous for the uninformed person to invest with a new set-up company in any area.If you’re going to invest in USA please visit the areas you’re going to invest in.Dont take bird doggers views unless you have total faith in them and are prepared to wear the risk.In Buffalo there are a number of areas and streets that should be avoided at all costs and streets can vary greatly from one street to the next.Remember the people who are selling you these deals are receiving good money for each deal.The margins and profits can be exagerated.With proper DD money can be made in Buffalo and Texas hopefully.[biggrin]
MartinThere 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,
Did anyone see the news story earlier this week about the Aussie investor who got seriously burnt in buffalo? He bought a property off eBay, sight unseen, for $11k (or there abouts) which is amazing. Even more amazing (or not as the case may be) it turned out to be in the worst house in one of the worst streets in buffalo and was an absolute dump, the previous owner had just painted the outside.
Previous advice on doing your homework would be well heeded and if you’re going to make the move o/s do it properly and visit your country of choice.
I think the closing comment from the reporter were “If it looks too good to be true, it probably is”
Cheers
MikeWhy would anyone be stupid enough to buy a property through ebay sight unseen.
I am currently in Texas and I would not buy a property either for myself or a client unless I had inspected it.
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Hey Obi-one,
I would say if yr looking at investing over there do some research on some buyers who have invested (for a min of 6 months)with the agent/company you are considering to buy through .Call the buyers and get a personal recomendation /understanding of the quality of property management etc. I would also recomend getting full seperate reports done on the propertys,not just a general building inspection.ie,Electrical ,plumbing,boiler/heater/furnaces,roof,etc
This is because the propertys are so old.Then u know exactly what you are in for down the track.
Buffalo takes a lot of maintenance and a really pro active manager to make it work.Otherwise the headaches are just not worth it.We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
nayone know if a foreign national can open a checking or savings account in NZ without physically being present in the country?
are there more restrictions on a foreign owner than a national? ex. on selling a property, obtaining a mortgage?
remember, slowly slowly catch a monkey
Hi ellnbgn
as far as getting a bank finance, you will have no problems but best to approach a NZ bank directly. I lived in NZ in 2004-05 and have some excellent contacts if you want for Banking etc.
The only restrictions on buying property is large parcells of landregards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auellnbgn
I am a Real Estate agent in NZ so please feel free to ask me any questions on the NZ market etc.
Try this mortgage broker for any info in NZ on loans etc, he deals with many overseas buyers.
Steve Holbrook is his name. sholbrook at raywhite.com
Give him a try to get the finer details for overseas investors.
Brent Palmer
Hi Everyone
I have met John Roberts and just let me say quite simply that the man is nothing of what he claims. sadly he duped me out of $50,000 and i have since met others. im not sure what i can legally do as im sure he would have his assets protected in some form or another. but i certainly want as many people as possible to know that he is nothing like what he claims and is not an honest individual.Hi Linkinpark,
thats not good mate,
can you share a little of what happened for us?Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
I have never heard of the site and the person . I will do a research on them on how they work. I think you should check the background before doing any property investment
I am a US real estate investor and sell many homes to investors here and abroad. Buffalo is a tough market and can be a nightmare even for experienced investors like myself. You need to find a good management company, that is a must. I first started out there and it took a while to get things going right. There are other markets with less taxes than Buffalo and just better investments as far as cashflow. I oversee rehabs for international clients and I prefer them to come down and look at what they are buying and knowing the market. Many do not, and if they are dealing with unscrupulous folks with no track record, they will get taken for a ride.
Dominique
http://www.lmgrei.com/ohiohomes.html
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