Forums / Property Investing / Overseas Deals / NEW: US Property Focus Group (Free to Join)

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Viewing 16 posts - 101 through 116 (of 116 total)
  • Profile photo of Peter GerolymatosPeter Gerolymatos
    Participant
    @petergee01
    Join Date: 2016
    Post Count: 9

    As a seasoned US Property Investor and currently the owner of a mid-sized Property Management Company in the US, I’ve noticed through my business activities that many Australian Investors purchased investment properties a few years ago (when the exchange rate was more favourable) without being properly educated or truly informed of their investment risk.

    Fast-forward to today, and bad product, bad management, and slick-seminar-syndrome has left these same Investors with significant capital loss. Many are looking to divest themselves of their purchase, unfortunately turning to the very same groups from whom they purchased the property in the first place. In my opinion, a big mistake. The current trend indicates that issues are escalating, since my company in Kansas City seems to be engaged more and more as an “asset recovery service” as opposed to a property management service.

    The thing is, property investment in the U.S. can work, really well.

    I’ve decided to start a National Forum through which Investors can not only have the opportunity to share their story, but also through which I can collate data from around the country and attempt to create a “best practices for management” policy, adding my own experience as a U.S. Property Investor and National Property Management Company owner.

    My goal is to identify the core needs of Australian Investors, potentially form some kind of alliance with which I can seek better management terms and results in the U.S., and thereby achieve greater profitability and full transparency. I’m not trying to sell anything, nor am I advising on where to buy – rather, I’ve had enough of the way shady U.S. operators (and their Australian mouthpieces) continue to misrepresent or neglect to disclose data relevant to the product being bought, and have a somewhat bold plan to help straighten everything out and recover or increase asset performance.

    I’m doing this through Meetup.com, and I’d like to ask interested Investors to join my Group. It’s called “AUS-USA Investment Property Support Group”, and our first meetups begin next week.

    Please join, and please spread the word – ask any colleagues that have invested in the U.S., especially if you’re happy with the level of service you’re currently getting – it can always be better! I’d love to hear of your experience.

    Peter Gerolymatos | https://www.linkedin.com/in/petergerolymatos
    http://www.meetup.com/AUS-USA-IPSG/
    Email Me

    Better Management = Better ROI

    Profile photo of Judith OttosenJudith Ottosen
    Participant
    @tallpoppy
    Join Date: 2014
    Post Count: 36

    What a great idea Peter. I’m in the same business as you and am also appalled at what some investors have been put through.

    Judith Ottosen | Tallpoppy LLC
    http://tallpoppyrealestate.com/
    Email Me

    Profile photo of Judith OttosenJudith Ottosen
    Participant
    @tallpoppy
    Join Date: 2014
    Post Count: 36

    I tried to sign up but received an error that Metting7 was an invalid code. In in the USA so maybe I can’t join

    Judith Ottosen | Tallpoppy LLC
    http://tallpoppyrealestate.com/
    Email Me

    Profile photo of Peter GerolymatosPeter Gerolymatos
    Participant
    @petergee01
    Join Date: 2016
    Post Count: 9

    Hi Judith .. try clicking here .. Would love to hear more!

    Peter Gerolymatos | https://www.linkedin.com/in/petergerolymatos
    http://www.meetup.com/AUS-USA-IPSG/
    Email Me

    Better Management = Better ROI

    Profile photo of UtahRealEstateUtahRealEstate
    Participant
    @utahrealestate
    Join Date: 2015
    Post Count: 9

    This is a great idea Peter. I’ve seen too many Australians invest in bad US markets because of shady promoters. The sad part is that there are many US markets and sub markets where properties keep hold their values, vacancies are low, tenants pay on time, and cash flow is easily found.

    Profile photo of Judith OttosenJudith Ottosen
    Participant
    @tallpoppy
    Join Date: 2014
    Post Count: 36

    Link worked thanks Peter.

    Judith Ottosen | Tallpoppy LLC
    http://tallpoppyrealestate.com/
    Email Me

    Profile photo of FredWisleyFredWisley
    Participant
    @fredwisley
    Join Date: 2016
    Post Count: 12

    People said in usa lawsuits are very common. Would a foreign owner of a house deter the tenant from bringing on lawsuit since the owner is maybe from australia or new zealand since they have to bring their case to the another country?

    Profile photo of Judith OttosenJudith Ottosen
    Participant
    @tallpoppy
    Join Date: 2014
    Post Count: 36

    When purchasing property it is best to purchase in the name of an LLC to give you some protection. A tenant should never know where the owner of any property lives and should only deal directly with the Proerty Manager. Law suits are rare and most tenants just want to get on with the business of life. Keep your property maintained and there is nothing to sue over. In seven years I’ve only had two occasions when someone has tried to sue and neither were tenants or went past the initial letter.

    Judith Ottosen | Tallpoppy LLC
    http://tallpoppyrealestate.com/
    Email Me

    Profile photo of OMWHOMWH
    Participant
    @lisarp
    Join Date: 2016
    Post Count: 1

    I’ve started to look into investing in US property, but am wary given how many others have reported being burned.

    Nevertheless, it’s still something I want to do. I think I understand the process well enough, but am reluctant to do it on my own.

    I’ve come across a few sites run by Australians who seem to offer advice/services (though the charges are not entirely clear). A google search of “invest in us property” brings up several such sites.

    It seems that rather than being the turnkey operators, they offer referrals to lawyers, accountants, turnkey providers, estate agencies, banks etc.

    Has anyone had any experience of these companies, or any insight into whether they are any good?

    Profile photo of Judith OttosenJudith Ottosen
    Participant
    @tallpoppy
    Join Date: 2014
    Post Count: 36

    There are a few Australians who post on this site who are living in the USA and helping others invest in property. Send a few emails out and I am sure you will receive replies.

    Judith Ottosen | Tallpoppy LLC
    http://tallpoppyrealestate.com/
    Email Me

    Profile photo of tom12tom12
    Participant
    @tom12
    Join Date: 2012
    Post Count: 6

    I’ve started to look into investing in US property, but am wary given how many others have reported being burned.
    Nevertheless, it’s still something I want to do. I think I understand the process well enough, but am reluctant to do it on my own.
    I’ve come across a few sites run by Australians who seem to offer advice/services (though the charges are not entirely clear). A google search of “invest in us property” brings up several such sites.
    It seems that rather than being the turnkey operators, they offer referrals to lawyers, accountants, turnkey providers, estate agencies, banks etc.
    Has anyone had any experience of these companies, or any insight into whether they are any good?

    Hi Lisa, I am from NSW and learning about the risks in IP deals in USA.
    Have you been in touch with anyone yet?
    Thanks if you can share info.
    Cheers

    Profile photo of Ozzie in TexasOzzie in Texas
    Participant
    @abengelegmail-com
    Join Date: 2015
    Post Count: 4

    I’m a former Australian, now living in Texas. Years prior to moving, we purchased an investment property without using anyone other than engaging a real estate agent to act on our behalf in purchasing and then managing the property. However, depending upon your level of investment and tolerance for risk, I know that many investors will engage an attorney to establish an LLC….and then use the LLC to purchase property to protect themselves from potential lawsuits. We decided to act out insurance instead. Do your own research and figure out what you’re comfortable with.

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    I have been involved in the American markets for a number of years. I am establishing a new straight forward model of buying large apartment complexes in the 2 to 6 million mark depending on the number of investors we can put together. The benefits are that we can get non recourse finance at around 70%. We have just refinanced a 26 unit complex at 5.3% for 15 years. If you have a few vacancies it does not overly effect your investment.

    I am working with a finance specialist who has experience dealing with funding of up to 100 million. I have learnt that to be successful in the states you have to deal with very highly accomplished professionals. I am also working with financial planners in Australia who are experts in dealing with self managed superfunds and making sure that they are compliant with Australian law.

    So the concept is simple buy b and a class assets make sure that they cash flow well and hope them for at least 5 years. We are mainly looking at Miami and other parts of Florida I am personally also interested in Texas.

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of UtahRealEstateUtahRealEstate
    Participant
    @utahrealestate
    Join Date: 2015
    Post Count: 9

    The companies you have to watch out for are the companies that try to “sanitize” real estate. “We will make real estate easy for you.” They say things such as, “We have rehabbed this property with manager and tenant in place. You can pay us cash for the property, or we will act as your bank.” The problem with this is that they property is in a bad neighborhood in a bad part of the city. The company bought the property dirt cheap, threw enough money it in it to make it habitable, and then sell it to you at an overly-inflated price. After 12 months the property management company’s lower negotiated management fee jumps up to standard rates and now the property doesn’t cash flow.

    Real estate is not easy. It is dirty and messy. If you want sanitized real estate, purchase a REIT. It takes a good property manager to manage the property properly, but you need to do your homework. Research market prices, market rents, vacancy rates, and good neighborhoods vs bad neighborhoods. A good property manager can also help you understand this information before you invest.

    Profile photo of MistrysMistrys
    Participant
    @mistrys
    Join Date: 2019
    Post Count: 2

    Hi,

    I can see this thread has been inactive for a while now, but I’m curious to know if anyone successfully invested in the US back then and to know how their properties have performed?

    I purchased two properties in Detroit earlier this year and am glad I took the step, as the cashflow is great and the added bonus of capital gains in a rising market makes it worthwhile.

    Profile photo of Judith OttosenJudith Ottosen
    Participant
    @tallpoppy
    Join Date: 2014
    Post Count: 36

    I personally have found the venture into US real estate extremely lucrative and continue to receive a very nice cash flow each month. Several who had me purchase for them are now selling and receiving more than double their money. Haven’t had any complaints.

    Judith Ottosen | Tallpoppy LLC
    http://tallpoppyrealestate.com/
    Email Me

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