G’day guys,
So I really did bite the bullet & decided to take off to the States to buy property & here I am in the last place that any of you would have thought of & neither has most investors in the States. “When they zig you zag”Follow the yellow brick road!
I’ve been here 10 days so far & have crossed off plenty of areas that I initially researched on the net, & am down to 3 spots. I have them in order of Favourite #1 then 2 & 3. I have found finance no problem but with 30% down which is what I wanted to do regardless. I have seen over 100 properties, but now that I’m focussed on my 3 spots I will see at least 100 more. I have only put an offer on 1 so far but only because the agent said they where really, really desperate. My offer was 35% below asking price.
Here is what I love the most, I lived in Sydney for 5 years 97-2002 & only knew a sellers market, then moved to Perth & have only known a sellers market. Well most of the US is a full on buyers market. You can pretty much purchase property at year 2002 prices. But here is the kicker, positively geared property is everywhere including white neighbourhoods ofcourse higher in black neighbourhoods. It’s just a case of finding an awesome deal rather than an OK deal. As Dolf De Roos says ” the deal of a life time comes around once a month”.
I share this because over the past 4-5 months of reading on the forum it helped with giving me courage to just do it. We can all do with encouragement would’nt you agree?
Hope you are all enjoying winter, it’s 32+ degrees celsius over here, I’ll be back in 2 weeks time.
Sincerely,
SolomonWell most of the US is a full on buyers market. You can pretty much purchase property at year 2002 prices.Hi Solomon – I like the sounds of a buyers market in any location which states are we talking buyers market. Is this still the case in properties over 200k USD in better areas. ie where local people buy property.
I Buy Property http://www.cashflowproperties.co.nz
Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
Great news Solomon! We did the same last year, twice! I’m looking forward to further news from you as to how things turn out on your trip.
Cheers
JJ&JoHi Solomon
Hope your enjoying yourself – it does take courage to push yourself out of your comfort zone.
From experience it doesn’t matter if the property is in Alaska, Nebraska, WNY or country NSW. What does matter is unless you can get the rent collected and paid to you by your PM then remote management takes on a whole new meaning.
Regards
Tony
Hi Tony
couldn’t agree with you more.
As an investor with real estate in 4 countries the key is management. And some times it comes down to our management of the property managers.
Finding the right manager from the beginning will save many headaches and save you thousands.
Solomon all the best with the USA trip.
regards 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.au
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