All Topics / Overseas Deals / Aussie off to buy US property – anyone want to join me??

Viewing 20 posts - 1 through 20 (of 166 total)
  • Profile photo of Top Rental ReturnsTop Rental Returns
    Participant
    @top-rental-returns
    Join Date: 2009
    Post Count: 69

    My name is Michael,

    I am an avid property investor here in Aus but i am headed over to the US to find 5 of the best deals I can. I have been researching my areas and prospective properties. I believe that i will be able to achieve 20%+ in income return from cash purchases.

    i am looking for anyone who wishes to travel along in person or even "travel" through the experience via the internet. If there are some of you out there who are stuck in 9-5 jobs and can't get out of the country long enough or perhaps just aren't ready yet – please feel free to follow me in my experience and learn with me as i find the problems and also the successes of the US foreclosure market.

    Please let me know if your listening.

    Profile photo of Robert WilsonRobert Wilson
    Participant
    @robwilson
    Join Date: 2005
    Post Count: 19

    Hi Michael,
    What parts of the U.S are you planning on visiting?
    If you check out my post Investing in Texas ,you will see I plan to do the same ,
    Will be interested to see what areas you have picked,

    What time of the year are you planning on heading over?

    Rob

    Robert Wilson

    Weather you think you can or think you can't ....... your right . - Henry Ford

    Profile photo of BrisbaneAndyBrisbaneAndy
    Participant
    @brisbaneandy
    Join Date: 2009
    Post Count: 45

    Would love to come but not able to at the moment, will have to be content with following online.  Post lots and post often!

    Profile photo of Top Rental ReturnsTop Rental Returns
    Participant
    @top-rental-returns
    Join Date: 2009
    Post Count: 69

    Rob and Andy,

    Glad to hear there are some interested people out there.

    I am planning to head over in Jan. Looking to focus on the south east coast and perhaps California. I have the company set up happening and bank accounts. i will begin a blog over the next few days and let you both know how I progress with the pursuit.

    I feel that i may be able to find some fantastic deals as I am a professional property investor her and so don't work for a living. I will be pushing hard to get the best possible properties.

    I will keep you all up to date.

    1st thing is the company to allow purchased properties to be held by – look at "Globes America" to assist do online setup and bank account rego. They also offer mail redirection and US phone numbers if you want one. I am setting up a Company  based in Delaware as they have favorable tax incentives but please do some research yourselves as i don;t want to be recommending ideas just yet.

    Will keep you in the loop.

    Profile photo of DWGDWG
    Member
    @dwg
    Join Date: 2008
    Post Count: 19

    Hey Michael

    Will be watching and listening all the way. Would love to do it but circumstances don`t permit.

    I have no doubt you`ll do well. Do you have a time frame in mind before the market picks up over

    there. All the best.

    Dave.

    Profile photo of Top Rental ReturnsTop Rental Returns
    Participant
    @top-rental-returns
    Join Date: 2009
    Post Count: 69

    Dave,

    I will do my very very best to nail it over there – the same as I do when i invest here.

    I feel that this is near the bottom of the market and we have about 12 months to benifit from this current situation.

    There are many people like us out there in the market looking for the deals and even though there are thousands of REO and foreclosures you will notice form the US websites that the big 4-5 bedroom well priced properties are all now going under contract. the tide is turning and the time is right to buy but it will take 5 years minimum before the US is back on its feet again.

    When they are back – that will be the time to sell. There will not be a great deal of quick gains in capital appreciation for us Aussies as we are not sufficiently in the market over there. We are buying REOs and hanging on for income yield and perhaps capital gain over the longer term. Don't forget we are in this for the possibility of 20% income and tht is unheard of here presently.

    Our blog has just been kicked off – the link is http://www.blognow.com.au/usaforeclosures/  This is where you will be able to follow the adventure as it unfolds.

    Profile photo of Top Rental ReturnsTop Rental Returns
    Participant
    @top-rental-returns
    Join Date: 2009
    Post Count: 69

    http://www.blognow.com.au/usaforeclosures/

    just to make sure the link worked correctly – this should take you directly there.

    Profile photo of jcso99jcso99
    Participant
    @jcso99
    Join Date: 2005
    Post Count: 95

    Hi Michael,

    I am also in the process of negotiating a number of cashflow properties in US, focusing in downtown Indianapolis. Plenty of good deals in here and now that I have setup my entities there. Also flying there in Jan to check out the proposed acquisitions. Arriving in Chicago in the second week of Jan and then direct transfer to Indianapolis.

    Email me [email protected] and we can speak more.

    Cheers
    John So (+852 9310 2139)

    Profile photo of Top Rental ReturnsTop Rental Returns
    Participant
    @top-rental-returns
    Join Date: 2009
    Post Count: 69

    John,

    I will be in contact tomorrow (1 am here).

    lovely to hear form you and good to know there are some people in the same head-space as myself.

    Profile photo of CafankCafank
    Participant
    @cafank
    Join Date: 2004
    Post Count: 19

    I am also interested in property in US Michael and may be up for a trip.

    Thought there would be more on the forums today after the Today Tonight blurb last night.

    [email protected]

    Profile photo of jcso99jcso99
    Participant
    @jcso99
    Join Date: 2005
    Post Count: 95

    The properties that I am looking at are priced between 10k and 50k and normally require some cosmetic touch ups (not more than 20k for each property) and then I have already got a team of property managers, inspectors and contractors on board.

    Just like to know whether any of you have luck with finding US lenders/mortgage brokers/investors that will lend to foreign nationals? I've got one in Florida but he is pretty slow in the application process.

    Love to hear your thoughts.

    Cheers
    John

    Profile photo of Top Rental ReturnsTop Rental Returns
    Participant
    @top-rental-returns
    Join Date: 2009
    Post Count: 69

    John,

    Good morning,

    I have a few leads for brokers but naturally am quite sceptical about the prospects of borrowing as a foreign national. Perhaps a good AUS history and a good business plan with 50% deposits may scrape me through over there.

    I know it will not be the large banks – they are the ones who stuffed the whole market to begin with but there must be someone out there. We are used to paying higher interest rates so some loan shark should be able to make a killing off lending to foreign investors.

    I have been emailing Alpinebanker.com this morning.

    There is lots of money in the US – it is just a matter of finding it.

    May i contact your Florida lead as that is one of the states I will be looking to buy? I will see if I have any luck there also.

    Profile photo of Top Rental ReturnsTop Rental Returns
    Participant
    @top-rental-returns
    Join Date: 2009
    Post Count: 69

    Cafank,

    Nice to hear form you.

    The today tonight story will not motivate the average person – the investors who are interested already have their hooks into the idea.

    Now is the time to all help each other so that we all benefit.

    Profile photo of vselleckvselleck
    Member
    @vselleck
    Join Date: 2009
    Post Count: 28

    Hi

    I am a Buyers Agent and property investor and an Agent for an Australian Company buying US Properties for Aussie investors. Visit my website http://www.888wealthcreation.com to find out how you can invest safely from Australia

    The US recession is coming to an end and global investors are now pouncing on under-valued US property.  An Australian company, US Properties, is now buying American homes for Aussie investors in areas where house prices are expected to recover more rapidly. They inspect and buy the best properties from US banks, refurbish them and manage them on behalf of Australian investors.

     Property prices in the US have plummeted to 1980 levels, but rent and rental demand are still high. Properties that sold in 2007 for $312,000 are being bought for $119,000 and renting for $300 per week, giving a massive 13% annual return on investment!  All expenses for the first year are paid, including management fees and your rent is guaranteed at 6% until tenanted. Property prices are rising and will rocket as the US economy recovers. Rents are paid in US dollars, so when the Aussie dollar returns to lower levels, the rent will go up, dramatically increasing your profits.

     Please contact me to find out more.

    Vincent Selleck 0403 255510 [email protected]

    Profile photo of Top Rental ReturnsTop Rental Returns
    Participant
    @top-rental-returns
    Join Date: 2009
    Post Count: 69

    Vincent,

    Thank you for your email – I have been through your site. I am looking in Florida and Nevada also which also seems to be where your properties are located.

    Who is over in the US doing the buying?

    My main question is finance – you site says finance to approved customers. Do you have stand alone US finance for foreign nationals or do you just gear of existing Aust property, draw down on the equity and buy with cash? Please let me know the process if you can – thanks.

    Management seems to be the other main concern – do you have a management agent over their who is part of 888wc or do you subcontract this out to a US agency?

    sorry for all the questions – just getting it all together in my head at the moment.

    thank you

    Profile photo of Top Rental ReturnsTop Rental Returns
    Participant
    @top-rental-returns
    Join Date: 2009
    Post Count: 69

    for anybody interested – blog site has been moved to a more easily navigable company powered by google.

    We are putting information, links and our story as we work out purchasing in the US market.

    http://usaforeclosures.blogspot.com/

    Profile photo of BrisbaneAndyBrisbaneAndy
    Participant
    @brisbaneandy
    Join Date: 2009
    Post Count: 45

    Great start on the blog and already doubled my knowledge of the US foreclosure market

    Keep it up!

    Profile photo of brianbrockman24brianbrockman24
    Participant
    @brianbrockman24
    Join Date: 2009
    Post Count: 1

    Hi Michael,

    I would like to wish you the best in your trip to the US. You are right that the US market is ripe for the picking now that the prices are mostly bottoming out everywhere in the US. Even with the prices going down, demand for properties for rent should remain strong.

    Just remember to make sure you get a good property manager without overpaying for him or her. Also, get a good lawyer that will handle all the paper work while you are there. There are some lawyers there that are just out to get you money.

    Also, have you thought about buying property in upstate New York? The place is relatively doing well in terms of employment and homes are almost all in good neighborhoods with below market value prices.

    Brian
    http://seekingfortuneinnewyorkstate.com/

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Industry developments,

    Sounds exciting man! Good on you for going for it in the states.
    I have been investing in some areas over there for about 4 years and have learned some Big lessons .
    Its pretty tough finding integrity.

    From what you seem to be saying is you are going ro hold properties for a while and rent them?
    Then sell when market picks up?

    Can i recommend if you havent bought anytfhing over there before just buy 1 or maybe 2 to start with and
    just see if long distrance management is for you. Then 12 monhs later see if it is working and buy more if ok.

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of MTRMTR
    Participant
    @marisa
    Join Date: 2004
    Post Count: 663

    Hi Everyone

    interesting thread. I am currently also looking at USA chasing cashflow.

    Seems there are many investors purchasing in Detroit. I have been doing some research and there are not too many areas in Detroit that I would look at due to crime rate, gangs etc. However, returns are great.

    Cashflow Capital is BA located in Australia which is buying for investors at the moment, see below.

    I have not used CC so I have no idea what there service is like, but if anyone on the forum can comment on this I would be interested

  • researches and sorts through the bank foreclosure lists to find the gems.
  • refurbishes the properties to bring them up to county certification standard for you
  • has attorneys that handle searches and title transfers for you
  • manage the letting of the properties and collect your rent for you.
  • arrange insurance cover to protect your asset

  • help you setup US Banking for you (incl. Visa/Debit CArd if you want)
  • US Company Structures (LLC) if required
  • Cheers, Marisa