Hi all, the cash flows sound great but the risks with investing and controling property off shore must be very scary 4 the adverage person.
How many people here are actually doing this and how many are too scared to?
D
I’m about to & yes it will be hard & scary but if it was easy everyone would be doing it.
At the end of the day I added up all the pros & cons & I saw the opportunity in a far away land when most are still trying to find CG & +CF in Sydney, LA, NY, London etc.
When they zig I’m going to zag.
The statement that moved me most though was, ” will I look back in 10 years time & say, I SHOULD have had the guts and jumped in!”Hi Guys
I’m investing in the US have been since 2004 in Texas and later in New York state. I didn’t find it scarey but i’ve been used to ofshore investing in NZ from 2003 and interestate investing since 1997.
It come down a lot to how comfortable people are investing O/S which is outside many’s comfort zone. I know successful investors who only buy within the suburb they are in and i know others who buy all over the globe. (and i know which ones have made more money over the past 3 years.)
I know when i stated investing in NZ back in 2003 and i was tell others on this forum to consider it. I got many people saying it was too risky to invest O/S. Those who invested in NZ especially the ones who bought in 2003 have done incredibly well. Since 2004 have also done very well.
Investing in the US is risky , you do loose control because of the distance whats important is you create the right management team. Some of the people who have been on my US management team have proven to be very poor, even though they came highly recommended, fortunately we have found new people who do an excellent job. Sadly poor property managers can cost you money so this is a key relationship.
i’m also interested to hear if others are scared or prepared for the challenge.
regards westan
USA deals, cash flow equity and capital growth all in one property.
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Property Investing New Zealand Ltd
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How do you control the managing of the properties from here, is it easy just by emailing the agents or management companies.
D
You must be very familiar with the country you are living in, must know the relevent laws and proceedures – eg. eviction of tenants, tax, lending etc.
For most people, I would say why bother. There are plenty of opportunities here is Australia, so why take the extra risk and/or complicate things.
Terryw
Discover Home Loans
Parramatta
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You must be very familiar with the country you are living in, must know the relevent laws and proceedures – eg. eviction of tenants, tax, lending etc.
For most people, I would say why bother. There are plenty of opportunities here is Australia, so why take the extra risk and/or complicate things.
Terryw
Discover Home Loans
Parramatta
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Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Investing Overseas you are risking your capital which in most cases is your deposit.
For US you generally are only allowed 20 to 30 % deposits and for full doc loans fees are quite high.
For NZ you can get away with a 10% deposit which isn’t to bad.
As Westan has said buying a property you are pnly half way there as it is just as important to have a good property manager.
They are worth their weight in gold.
Happy investing!!!
You must be very familiar with the country you are living in, must know the relevent laws and proceedures – eg. eviction of tenants, tax, lending etc.For most people, I would say why bother. There are plenty of opportunities here is Australia, so why take the extra risk and/or complicate things.
I agree with terry and would go further and say that you really need a serious plan. Why are you going off shore and what do you hope to achieve.
When I started buying in NZ my plan was to take a small amount of seed money fomr my oz portfolio and create a brand new stand alone portfolio in NZ. It is self supporting and completely seperate to my portfolio in Oz which we also keep.
In fact i find that this strategy works well in general. ie start small portolios within your overall portfolio and manage then to a point where they are self supporting and start again.
Perhaps you don’t need to see each individual property but always try and get to the area you are investing in and spend a few days looking around – combine that trip with a few meetings with your new solicitors, accountants, and independant realtors and property managers.
Remember that those feelings of fear may be irrational and could be stopping you from achieving your goal. Or it could be your gut telling you that it is a bad investment so you will have to work out which it is. RESEARCH-Research-research.
I Buy Property http://www.cashflowproperties.co.nz
Don Nicolussi | Mortgage Broker - Home Loan Warehouse
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It is all about the level of research and the contacts you make on the ground. Many people loose money because they are not careful. They do not do their research and in many cases they purchase blindly. I think there are great opportunities to make money and invest well overseas, but put the time in and resaerch it carefully.
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Any form of investing has an element of risk. Investing offshore certainly increases it, no doubt about that.
The key to eliminate the risk is to invest the time and money into building a “Firm Foundation” first. Guys there are some awesome opportunities in the US right now. Providing you invest in building a solid foundation first, I beleive will put you in a great position for the future.
Generally big problems only happen when not enough due diligence is done and the foundation is not built properly.If you have a strong network and solid relationships, then your level of risk will also be lower.
This goes for anything in life. It is no different in investing.
We all know that when it comes to real estate, things can sometimes not go to plan exactly as we expect, having a good network will get you through these times and you will overcome the hurdles together.My current expriencing in the US has been a mixture of good and bad. More good but I have had hiccups along the way.Things have happened which didnt go to plan but with the help of my network over there which I have now established, we got through it and still achieved our end results.
The message I am trying to get across is that by having a solid foundation, not only will it benefit you in taking advantage of the great market and returns, more importantly, when things dont go to plan, you will be able to get them fixed and you will have the support to do it. Especially when you are so far away.
There are many Foreign nationals and out of State investors doing very well in the US market. The returns are great. I have also heard and know of people who’s experience hasnt been that great.
Do your homework, research and spend some time building your foundation first and you will no doubt make it an enjoyable venture as well as profitable.At the end of the day though, if the thought of doing something will make you loose sleep at night, dont do it. You must be comfortable with the decision as it is a daunting concept for many.
Chad
Providing Turnkey Real Estate Investments In The USA.
E-mail:[email protected]
web: http://www.gr8realestateinvestments.comThanks others and DLPP
If u r James Packer the world is a small place because you are travelling in it dailey but for us little people it can be very daunting.
I just came back from QLD and secured some great opportunities at wholesale prices and met a new builder that is going to construct some homes for me.
It is so easy dealing in our own country that we know so well, do you think some people are losing their focus to chase the big (maybe) buck??
D
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