We have put together an infosite detailing the nitty gritty of forecloure property in the US. Please clink the link below to access all our research.
http://www.usaforeclosures.blogspot.com
We are heading to the states for 12 months in January to build up professional alliances in select areas based on population growth, tenant demand and quality affordable property.
We have been investing considerable time researching holding entites, ways to purchase, making countless offers at 1am our tme only to find out we have just missed out on deals. We now have this process sorted and are happy to help if you have any questions pr desire assistance with your US purchases.
If there is any way we can assist you please let us know. We have already spoken to alot of forum members over the phone and by demand are offering a service to help purchase US property in select areas without the massive fees and professional teams alluded by other buyers agents they haven’t met.
So please don’t be shy – we are having so much fun on our journey and would love to be able to help out in any way we can.
We can offer to assist in already packaged renovated and tenanted property or just assist in sourcing and closing.
Our experience lies in investing, developing and renovating cash flow positive Australian property.
Please click on our infosite if you wish to find out more or simply drop us a line on email or contact us if you wish to have a chat.
The opportunity far exceeds anything available in Australia for reasonable prices and fantastic net returns – see our examples on the site.
Look forward to talking to you soon.
I wish you all the best of luck. As someone who could buy American property pretty easily (we lived there for over two decades and still have all our accounts, offers of loans, SSN and still pay US taxes etc etc) there is just too much to worry about for us, but if you are there on the spot and can navigate through the tangle you may do well.
On your website you imply that US real estate agents are probably worse than Australian ones. I can only speak for California but in fact we had positive experiences with USA agents and are extremely distrustful of Australian agents. The reason is because in Californian RE legally the owners AND the agents are obliged to give full disclosure. It is not like here: buyer beware. Everything is just so transparent and the sellers are responsible for getting every single report (roof, soil, pest/termite, electrical, structural etc) together even before the property goes on the market. The Californian property market is just streaks ahead of the Australian one in terms of ethics – we are embarrassed by how ignorant Aussie agents can be about the properties they sell.
The other thing you will find it easier is that you only need one good agent and because of the multi-listing service where agents share info (and fees) you don't have the hassle of having to view each property with a different agent.
However, the tenant's rights issues, the difficulty in finding good property management, and just the litigious nature of the USA makes it very challenging. Every single person we know who has invested in residential property in the USA has been sued (including us) so stay on top of the finer points of the law and be prepared to get legal advice (and pay a lot) at the first sign of trouble.
If you decide to invest in California, a great way to start is through the NOLO press books – these are self help books written by lawyers and used by lawyers but make it clear what landlord and tenant rights are and how to deal with issues before they become major. Although they are written for California, many of the general points apply countrywide.
Oh, yes, one other thing – on your properties that you have listed on your website (in Atlanta?) you mention this thing called "rent appraisal". Be very careful – they sound extremely optimistic. If rents were that high the tenants could easily afford to buy the property themselves outright after a couple of years. Be especially diligent about checking for yourselves what the real monthly rents are and remember that if it's not in writing it's not worth the paper it's written on.
Hope this helps – all the best..
Hi Investors
There is an unprecedented opportunity to invest in US Property now with the Aussie $ so high against the greenback and US properties at record lows. I am part of a buying group putting in hundreds of ridiculous offers on foreclosed US properties, with outstanding results for investors. Most properties are returning over 20% net, after rental expenses at prices from $25,000 to $35,000 average.
Thanks to my US buyers network we have support for all the legal, management and accounting issues, making this a easy experience for Australian investors. We are even doing vendor finance deals on blocks of apartments.
If you would like to find out more on how you can cash in on this once in a lifetime opportunity, check out my website at http://www.888wealthcreation.com/pdf/us%20properties%20888.pdf
I would love to talk to you about our experience and show you some sample properties.
Many thanks
Vincent Selleck
Buyers Agent/ Mortgage Broker
888 Wealth Creation P/LMbl 0403255510 [email protected]
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