I have been approached by several companies selling US properties. has anyone any experience with USProperty Sales Australia, Foreclosed American Properties, Oztex property.
Hi Rodger,
US Property Sales Australia is the newly created remnants of MyUSAProperty. My suggestion is to stay right away from these guys…..<moderator: delete personal comment> PM me if you want more information <edit>.
As for the other companies you listed….just a couple of more so called "experts" on US property. A dozen must spring up each week. No doubt they have all this secret information and access to these special properties that you can access once you pay a membership fee…that should be your first warning sign
Send me a PM and I can recommend who you should be dealing with.speedy gonzales wrote:Hi Rodger,US Property Sales Australia is the newly created remnants of MyUSAProperty. My suggestion is to stay right away from these guys…..<moderator: delete personal comment> PM me if you want more information <edit>.
As for the other companies you listed….just a couple of more so called "experts" on US property. A dozen must spring up each week. No doubt they have all this secret information and access to these special properties that you can access once you pay a membership fee…that should be your first warning sign
Send me a PM and I can recommend who you should be dealing with.Is there no longer a my USA property? Their website is still up & running, I can't seem to find any info on US Property Sales on google..
morpheusbushy wrote:speedy gonzales wrote:Hi Rodger,US Property Sales Australia is the newly created remnants of MyUSAProperty. My suggestion is to stay right away from these guys…..<moderator: delete personal comment> PM me if you want more information <edit>.
As for the other companies you listed….just a couple of more so called "experts" on US property. A dozen must spring up each week. No doubt they have all this secret information and access to these special properties that you can access once you pay a membership fee…that should be your first warning sign
Send me a PM and I can recommend who you should be dealing with.Is there no longer a my USA property? Their website is still up & running, I can't seem to find any info on US Property Sales on google..
Andrew Allen made a split with from these guys or didn't renew their license or something along those lines (probably had something to do with the additional negative publicity they received from the article in The Australian) so MyUSAProperty still exists but no longer has any Australian office addresses listed….just Florida. US Property Sales Australia is http://www.uspsa.com.au
The article in The Australian was written about the guys now operating US Property Sales Australia so beware !!speedy gonzales wrote:morpheusbushy wrote:speedy gonzales wrote:Hi Rodger,US Property Sales Australia is the newly created remnants of MyUSAProperty. My suggestion is to stay right away from these guys…..<moderator: delete personal comment> PM me if you want more information <edit>.
As for the other companies you listed….just a couple of more so called "experts" on US property. A dozen must spring up each week. No doubt they have all this secret information and access to these special properties that you can access once you pay a membership fee…that should be your first warning sign
Send me a PM and I can recommend who you should be dealing with.Is there no longer a my USA property? Their website is still up & running, I can't seem to find any info on US Property Sales on google..
Andrew Allen made a split with from these guys or didn't renew their license or something along those lines (probably had something to do with the additional negative publicity they received from the article in The Australian) so MyUSAProperty still exists but no longer has any Australian office addresses listed….just Florida. US Property Sales Australia is http://www.uspsa.com.au
The article in The Australian was written about the guys now operating US Property Sales Australia so beware !!Do you have the link to The Australian article?
I recently attended one of their seminars, and I must say, I wasn’t overly impressed.Yes,
Andrew Allen didnt renew a contract with MyUSAproperty. My membership fee to MyUsa was promptly refunded by andrew
when requested.
Personelly i hve no drama with Andrew at all.
MyUsa didnt get the job done for meJust went to their seminar. They basically prey on the lazing investor. Easy talking, everything they say is correct from a point of issues in investing in the states. But with a small amount of research one of the properties they were selling for $60,000, they had bought for $20,000, probably spent $5-$10k on rehab. Yes they probably bought off a wholesaler. But get over there and do your own research and save $10-$20k, I assume you could always use the same property manager they use, I doubt they would say no to you if you walked in their door?
I don’t think that all buyers agents are necessarily bad as it does require a significant amount of time and effort to purchase overseas, I do think from what I have heard and read that there are definitely much better alternatives than my USA property.
I think that to suggest that people who use buyers services for the United States are lazy is just plane silly. If you want to go to the city and spend months developing the contacts good luck. The problem is the level on quality service that you can find on the ground is poor. Why am I saying this is that I did all of this in 2005 I even ran a real estate company in Texas in 2006 and still struggled to get great contacts. I believe that a lot of people will lose money in the United States, because they are dealing with Real Estate agents who see Australians as easy targets.
I am going back to Texas in Two weeks we take small groups and educate people about the market.Who you are dealing with on the ground will determine whether your investing is successful or not.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Nigel Kibel wrote:I think that to suggest that people who use buyers services for the United States are lazy is just plane silly. If you want to go to the city and spend months developing the contacts good luck. The problem is the level on quality service that you can find on the ground is poor. Why am I saying this is that I did all of this in 2005 I even ran a real estate company in Texas in 2006 and still struggled to get great contacts. I believe that a lot of people will lose money in the United States, because they are dealing with Real Estate agents who see Australians as easy targets. I am going back to Texas in Two weeks we take small groups and educate people about the market. Who you are dealing with on the ground will determine whether your investing is successful or not.Could not agree with you more. I have been conversing with a few Au folks and in the effort of full disclosure I have not done any business with any off shore investors.
AS I have tried to bring the contrarion view point and some reality to those viewing this forum, I know my comments are not well recieved, but the truth rarely is when one wants to beleive the too good to be true scenerio.
This one gentlemen I was conversing with did explain in detail what the Aussie investor looks for or has an understanding for, and that tended to be Gross cash flow with not as much emphisis on Net cash flow..
Where US investors would look at the opposite.
I think what we are going to do at the end of the day is offer a due it yourself program and fully disclose what we are making up front. and fully managed program with the same disclosures. And try to give the AU investor some peice of mind.
All without any up front fee's and or elaborate buying schemes.
In addition we are going to offer owner financing at very good rates 5 to 7%.
JLH
I love the comments from Nigal and Jay, because it seems they offer similar services, ofcourse your going to be pro Buyers Agents.
All I am saying is if you are a Lazy Investor they are perfect. But if you want to save yourself $10,000 get over there.
pete ….couldnt disagree more. Lazyness hs nothing to do with it. Using the right services ensures the deal is done correctly and legally as well as that they normally offer legal advise, tax advise property management ect.
Your claim of "Save $10,000 ….get over there " …. is that after your airfares, accomodation, food, transport, travel insurance and not to mention wasted time trying to work out where everything is and how to get there.
Doing it "on your own" is fine if you have the time and funds to use.
I am not a broker nor an agent so i speak without bias. Using a buying service and doing your own DD can be cheaper and faster than doing ALL THE LEGWORK yourself. Personelly i think it is way too time consuming for the small saving you might make.
Each to their own ….as long as you are happy with the results thats what matters
RickH wrote:Each to their own ….as long as you are happy with the results thats what mattersExactly. I had every intention of doing it on my own – the administration effort ALONE made me want to look for help, not every buyers agent is bad, you just have to be careful and do your research. Even after I decided to use a turnkey company, I knew that I would not feel comfortable buying without first visiting the market in the US – even though it was clear I didn't have to – so as Rick says, each to their own.
Dennis Chan wrote:speedy gonzales wrote:morpheusbushy wrote:speedy gonzales wrote:Hi Rodger,US Property Sales Australia is the newly created remnants of MyUSAProperty. My suggestion is to stay right away from these guys…..<moderator: delete personal comment> PM me if you want more information <edit>.
As for the other companies you listed….just a couple of more so called "experts" on US property. A dozen must spring up each week. No doubt they have all this secret information and access to these special properties that you can access once you pay a membership fee…that should be your first warning sign
Send me a PM and I can recommend who you should be dealing with.Is there no longer a my USA property? Their website is still up & running, I can't seem to find any info on US Property Sales on google..
Andrew Allen made a split with from these guys or didn't renew their license or something along those lines (probably had something to do with the additional negative publicity they received from the article in The Australian) so MyUSAProperty still exists but no longer has any Australian office addresses listed….just Florida. US Property Sales Australia is http://www.uspsa.com.au
The article in The Australian was written about the guys now operating US Property Sales Australia so beware !!Do you have the link to The Australian article? I recently attended one of their seminars, and I must say, I wasn't overly impressed.
Hi Dennis,
The link to the article in The Australian newspaper is here
morpheusbushy wrote:RickH wrote:Each to their own ….as long as you are happy with the results thats what mattersExactly. I had every intention of doing it on my own – the administration effort ALONE made me want to look for help, not every buyers agent is bad, you just have to be careful and do your research. Even after I decided to use a turnkey company, I knew that I would not feel comfortable buying without first visiting the market in the US – even though it was clear I didn't have to – so as Rick says, each to their own.
I'd also like to add to this debate. I went across and visited many markets in the US and in the end I decided to use a turn key company……not all of them are bad…..you just need to do your homework and not jump on board the first company you come across. Not all are the same.
Maybe the trick is to forget about the Aussie based ones who are just adding another layer of commissions and fee's to the transaction and use USA based companies who don't exist just to serve Aussie investors but to mainly look after USA investors. From my experience these tend to be more focused on the actual property, it's location and tenant management and actually be on the ground then just making a quick buck with crappy properties in bad locations that unsuspecting foreign investors won't have a clue about. Just my opinion !!It’s difficult to get a US loan so I believe it is worth going though a buyers agent if you get that as a result. Check every step of the process as you go.
Speedy,
Agreed. That is why i used HouseBuyersUSA. they are US based as well as Aust.
They have guys on the ground in their market areas full time. They have attorney, accountants,
property managers ect. They are approachable and so far i have found with guys to be very good
with communication (yes after closing) and always true to their word.That is my experience……. and yes i did buy my property with them.
I have been looking into US market. Good to read the posts from others who started earlier than me. I was looking at My USA Property but I won't use them. I am looking at others, I notice their has been no mention of Splash Property Group who I believe is an Aus setup. I agree that ones with an office in US as a minimum would be a better option.
Any comments
Splash property group is a spin off from Carly Crutchfield's Ccorp is run by Salena Kulkani who I believe has now branched out on her own.
Has anybody had any dealings with US Buyers agent before? Apparently they help international buyers purchase US properties.
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