Big JohnParticipant@big-johnJoin Date: 2013Post Count: 13
Can anyone point me in the right direction for unsecured cash out finance in the US at good interest rates? My properties are in Atlanta and Dallas Texas.
JohnCDERParticipant@cderJoin Date: 2015Post Count: 1
I am looking at my first investment portfolio. I was just wondering what the best method would be? I have been doing a lot of research into US property area’s and was wondering if going through an “All-in-One” property investment company was the way to go, or do it all myself? I understand there are a lot of things to consider and a lot of due diligence to get through. What would be the first step (apart from research) any of the more experienced property investors out there would suggest? I am more than willing to do the research and leg work myself, but knowing who to trust and where to start would help heaps.
Thanks in advanceHuMungusParticipant@humungusJoin Date: 2011Post Count: 20
Probably the first thing to consider is what your overall goal is for investing in the US then what structure are you going to invest under, an LLC or what, from here you need to get the structure set up first.
Let’s say you are going to use and LLC.
1. What State are you going to register it in?
2. What are the State taxes for companies?
3. Are you going to look for a Tax Free state like Nevada or Delaware?
4. If you are buying out of the LLC’s state of registration, does the state you are buying property in require you to have ‘Foreign Entity’ registration?
5. What bank are you going to use for your accounts? Forget Wells Fargo as they don’t cope with foreigners running LLCs.
Now you have watched anything up to a year go by, and the property market has moved, so you research is down the tubes.
Don’t get me wrong, I am not trying to put a dampener on things, just bring a bit of reality to the venture. It took us about a year to get everything in place before we really started looking at property and because we have everything set up properly, asset protection is in place and everything works better.
Finally I have heard so horror stories of investors working with “All-in-one” companies, and I personally know of two people who purchased property this way, looked great on paper, but that was all. They can’t rent them except to ‘trailer trash’ and they are worth nothing on the real market.
I agree that you have to be careful with how you deal with however unless you are prepared to invest a lot of your tie on the ground in one location you are frankly wasting your time. It is a bit like playing Russian Roulette because you have no idea how things will turn out.
I own a business in Florida and have a partner who lives in Orlando. I travel to Florida on a regular basis in fact I will be there for the second time in two months from the 6th May.
I believe that who you deal with will make all the difference. We do provide a complete service but work with our clients we help you buy and renovate and do everything from houses to buying hotels. Do you research carefully make sure whoever you are dealing with is based on the ground where you are buying. Because in many cases you are dealing with wholesalers.
Any houses we buy are fully inspected and assessed before we purchase them. Happy to provide more detailsmarkymarkdennisParticipant@markymarkdennisJoin Date: 2013Post Count: 5
Contrary to what a lot of people will say, you can do it yourself. The tools that are out there and a basic knowledge of real estate markets makes information widely available. I’ve only just started to reignite my interest in the US property market again too after the mess that is beginning here in Aus. Looking to go over there myself and have also come across what seems some pretty legit providers that I will check out. Let me know if you want me to fill you in on my experiences…
Most Americans have a can do attitude the problem is they don’t have a cant do attitude. Many Americans will tell you everything is possible even when it is not. So if you are going to do it yourself I suggest you focus on one area and put aside plenty of time.jlkingsParticipant@jlkingsJoin Date: 2015Post Count: 1
came across this site and forum while doing my research in Australia. We are a developer in USA, MICHIGAN, DETROIT as well as a property management firm. My passion is ignited as I see similar investors in this forum discussing about USA properties.
our website http://www.midasdev.com
we focus on Detroit, the returns and capital gains are extremely positive from a city which emerge from bankruptcy within 17mths. the potential of Detroit is fantastic as USD250 Billion, YES BILLIONS was being pumped into the economy from government and private sector. its all due to an upward recovery cycle. Cheap rentals and work force draws the business from all over USA thus pave the way for more jobs and opportunities, all leads up to increase in properties values and rentals. its mostly good news in DETROIT.
contact me if keen to know more about this opportunities for investors. the properties are between USD30-60K for a 3bedroom landed freehold and tenanted single family home. returns are at nett 13% per year.
We don’t do trenches investment, we sell with title deed and managed your property for you in DETROIT. we are the developer and property management company over there.
Yes Detroit is a great place to invest, the city is bankrupt and with 79,000 vacant building lots of choices for tenants, freezing weather in Winter industry moving out.
There are much better places to invest in the United States
- This reply was modified 4 years, 8 months ago by Nigel Kibel.
Agree with Nigel on this one. Detroit is a lovely place to invest if you like throwing your cash away. A few of my clients babe property there and none have seen anything to bring home yet and are not likely to. There are issues with poverty, gangs, unemployment and a lack of care on the tenants part to take responsibility to ensure the landlords home is kept in as good a condition as possible ie do not let the kids swing on the doors for one. It is possible to buy well there but you need a super reliable realtor and property manager. In my experience, finding a property manager to help my clients out, was an onerous and almost fruitless task.ArgyleParticipant@haltsJoin Date: 2015Post Count: 19
Hi, I certainly agree that Detroit city is bad news. A reliable source on the ground told me that Detroit city is not only dangerous but that relevant authorities aren’t very active when evicting poor tenants. However, you don’t have to move far out of the city centre, east and north, before the picture changes dramatically and in a very positive way. You need a good, experienced realtor who will point you away from the trouble areas and towards the goods. I would thoroughly recommend Carol Koepplin of CENTURY 21 Collins,11480 East 13 Mile Road
Warren, MI 48093,phone: 586.574.1400, mobile: 586.215.5228. I used her for some very valuable research and found her very honest and helpful. I didn’t buy anything at the time, but I do intend to go back to her.
Personally I am involved in Florida. The weather is great all year round.
There are 1000 people a day moving to Orlando, plus you have a growing tourist market. Florida has just become the third largest state in America overtaking New York state. Plus Florida took a huge hit in the gfc. However now the markets are recovering there are many great opportunities.PeteJackieParticipant@petejackieJoin Date: 2003Post Count: 121
Can anyone recommend a reliable residential Property Manager in Chicago?
Also any suggestions for insurance companies for house insurance would be greatly appreciated.
I hate the phrase turn key. When I hear the phrase, it is like listening to the screeching of fingernails on a chalkboard. I believe that there has probably been as many investors hurt by in investing in “turn key” properties than were hurt investing with Bernie Madoff.
What does the phrase “turn key” mean? It doesn’t mean anything. I stick a key in a lock and turn the knob that lets me into my house. This is where any similarities with anything to do with real estate end.
There is nothing turn key about real estate. In order for real estate investing to be profitable, the property has to be managed by a competent manager. Competent property management is the last necessary ingredient in the real estate success recipe that includes real estate price analysis, economic analysis of the market, rental market analysis, and property inspection.
Turn key is a phrase bandied about by shady marketers use to lull want-to-be real estate investors who don’t want to take the time to become educated in that particular market, into believing that investing in real estate is easy. It is not. Someone has to be doing the day-to-day “heavy lifting” of the property. Rent collection, evictions, move-in/move-out inspections, cleaning, repairs and maintenance, etc. are a short list of the responsibilities of a property manager.
The phrase can be attached to anything building in any condition, in any circumstance. Here’s an example. Next to a main artery into one of the cities in which I invest, I have watched a vacant building for several years which used to house a restaurant for probably 20 years. The restaurant fell victim to changing demographics, changes in available local cuisine, and urban blight. The building sat empty for a few years. One clever real estate agent placed a sign on the building reading, “Turn key” restaurant space.” During the subsequent five years the building has housed three different restaurants and is now empty again.
Obviously there is nothing “turn key” about that particular location.
Remember, when you hear someone touting “turn key,” think to yourself, “This guy is a tur-key.
Good Luck and Profitable Investing
Run, run away from Detroit! I can show you three different reasons why investing in Detroit is a bad idea.RedwoodParticipant@redwoodJoin Date: 2013Post Count: 340
Go to: http://www.bestplaces.net/city/michigan/detroit
1. On the Detroit overview, look at the -23.8% loss in population. The population of Detroit is pouring south into Ohio.
2. Under the Economy link on the left column, the unemployment rate of Detriot is 14.5%. The US average is 6.3%.
3. Under the Housing link on the left column, the vacancy rate in Detroit is 28%. A vacancy rate of 8% is one month empty/year. A vacancy rate of 28% is over 3 months vacant.
These are just a few of the reasons why investing in Detroit, or any city in the rust belt surrounding the Great Lakes does not make financial sense.
Happy Investing.RupertParticipant@rupert-brookeJoin Date: 2015Post Count: 3
It’s generally arguable if the US property market is as attractive now, at least for overseas investors, as it used to be. The USD is much too over-rated at the moment and still getting stronger (good for American buyers, of course, but not so for sellers and exporters). The UK, EU or China (!) sound more interesting to me..
http:\\www.tranio.comTassieJHParticipant@tassiejhJoin Date: 2010Post Count: 41
Looks like we may have a rental market in the US for a while yet! Note this is a very small survey sample of 1000 and they are people who were looking at Bank Rates so not very scientific…..but an interesting read (Great to live in Oz)
Some 63% of people can’t deal with a $500 emergency
Americans are starting 2016 with more job security, but most are still theoretically only one paycheck away from the street.
Approximately 63% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair, according to a survey released Wednesday of 1,000 adults by personal finance website Bankrate.com, up slightly from 62% last year. Faced with an emergency, they say they would raise the money by reducing spending elsewhere (23%), borrowing from family and/or friends (15%) or using credit cards to bridge the gap (15%).
- This reply was modified 4 years, 2 months ago by TassieJH.
This is unfortunately very true. I have found most Americans spend everything they earn and have “stuff” Eight TV sets is not uncommon. Everyone in the household goes to their room to watch what they want on TV and do not sit together as a family. I hope this is not a trend in Australia too.
Almost all of my tenants are late with rent if there is anything like a car breakdown. There are way more tenants than rentals available in SW Florida