I am Australian and I found it hard to get started investing overseas. I was wondering if there are other Australians out there with the same problem. I found a decent book from http://seekingfortuneinnewyorkstate.com/ and I am using it to get started. It seems to be working well.
I am wondering if there are other Australians out there in the US housing market and what their experiences are out there.
Thanks
MJ
What's sort of returns are you getting in NYC. I'm refering to rental return. Also what are the prices around there?
All you need to do is a search on the subject from previous posts and you will learn a little of the issues that are involved in owning property in the USA.
Richard Taylor | Australia's leading private lender
Hey MJ
I was over in NY in July looking at loads of investment properties around Rochester and Buffalo but found a much higher quality of home with better returns elsewhere in America.
If it return on investment and knowledge about investing in America send me an email.
Jason Simpson
Hey Ian,
How is life in NYC? O u own a house or r u renting. Im in Melbourne n thinking of buying REO properties in US. How are the
the Prices in NYC?
Tx
RishiRishi
Give it a month and you can but them a wee bit cheaper.
Richard Taylor | Australia's leading private lender
Beware: investing in NY can be hazardous to your income:
http://en.wikipedia.org/wiki/Rent_control_in_New_YorkThe concept of a city council controlling how much rent a LL can collect is probably a little foreign to most Aussie investors.
Singer why would you buy a rent controlled property? ( And Wikipedia is not the best resource). There are thousands upon thousands of alternative properties where you control what rent you charge.
sapphire101 wrote:Singer why would you buy a rent controlled property? ( And Wikipedia is not the best resource). There are thousands upon thousands of alternative properties where you control what rent you charge.This is true, but the concept of rent control is just not on most Australian investor's radars. I was just pointing it out as something to look out for among the many hazards of buying in the USA.
There are better areas to invest in than Buffalo, Rochester and Western New York.
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