…and hope for the best in a couple of years time….It is possible to pay over the odds in Australia as well. You might be able to save the airfares if you buy local. Sure it might be near illegal for agents to price in the same way, <moderator: delete advertising>. Please be careful out there. Casino's in OZ offer a far better return than most AU spruikers.
If you are going to buy in the US do not dismiss people who can help you. However you should go over and satisfy yourself as to how good the deals are. We encourage people to Travel to Texas to look at markets and to do your own due diligence. If you are not prepared to go over at least once you either have money to waste or are not serious
Nigel Kibel | Property Know How
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Nigel Kibel wrote:If you are going to buy in the US do not dismiss people who can help you. However you should go over and satisfy yourself as to how good the deals are. We encourage people to Travel to Texas to look at markets and to do your own due diligence. If you are not prepared to go over at least once you either have money to waste or are not seriousNothing like kicking the tires,,, based on what I have learned on this site, there is a big difference in how rentals are handled in OZ and how the tenants take care of them compared to certain asset classes in the US. Its really a great idea to come see these for yourself… Plus we need the tourist money even if you do not buy it helps our economy:)
I have two cash-positive 3br homes in Texas. Bought $55K, rehab around $5000 each, rent $800/mth each. Property management very good. The high Aussie dollar means the $ stay in my US bank account though so the mortgage gets paid from my full-time wages – never thought I'd become a currency trader!.
Was a lot easier to do than I expected and I will definately buy more. But then I did lots and lots of research here and then spent six weeks over there looking & establishing good working relationship with a realtor who I trust(ish).
Agree with Nigel – you MUST go see what you're buying in person… but that's the fun part anyway!
PQ wrote:I have two cash-positive 3br homes in Texas. Bought $55K, rehab around $5000 each, rent $800/mth each. Property management very good. The high Aussie dollar means the $ stay in my US bank account though so the mortgage gets paid from my full-time wages – never thought I'd become a currency trader!.Was a lot easier to do than I expected and I will definately buy more. But then I did lots and lots of research here and then spent six weeks over there looking & establishing good working relationship with a realtor who I trust(ish).
Agree with Nigel – you MUST go see what you're buying in person… but that's the fun part anyway!
" How do you Aussies get 6 weeks off. the only ones in the US that get that kind of free time are those that own business's that are well established and even then business owners are loath to leave the shop unattended.
Now my daughter who works for Intel ( he chip maker you may of heard of) she has been there 10 years and is in management and she gets 4 weeks paid vacation but cannot take it all at once.
Most Americans if they get 2 weeks off paid are really doing good, and Like I said most self employeed unless they are very well off get little to no time to travel ( maybe a week here and there) But 6 weeks to come to the states and wonder around looking for a rental thats unheard of. You guys got it made in the shade
Yes we are very lucky! I took 4wks annual vacation leave + 2wks long service leave. Lots of people wouldnt have long service though.
Long service leave is unfortunately a dying practice, Jay. But guess what, we get 17.5% extra on our wages when we take it. How about that?
When you work for yourself you do not get long service leave
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
When you work for yourself, you don’t get any leave.
yes the joys of self employment. But at least I have some control over my life. Or thats what I tell myself lol
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
I recently went to a property conference, and there were stalls selling US properties – they’re so much cheaper than aussie properties! I don’t know if I’d buy any time soon from there, though.
As far as taking time off goes you can also top up with LWOP (Leave With Out Pay) if you need to. So long service not essential if you have a few pennies tucked away. Very cosy situation indeed.
itsandrew
Go as far as you can see and you will see further.
itsandrew wrote:As far as taking time off goes you can also top up with LWOP (Leave With Out Pay) if you need to. So long service not essential if you have a few pennies tucked away. Very cosy situation indeed.You guys have it made in the shade,,,,,, We encourage you to travel to the US spend your money freely and help our feable economy. Pick up a few rentals and all is good.
JLH
nathaniel is great help thanks ricki… hoping to take the plunge latest early next year… depending on what properties are available so excited.
Under no circumstances should anyone use MY USA PROPERTY. I started talking to Andrew who started the group about 2 years ago. I went to see him in Melbourne and after lots of analysing I decided to buy, I bought some land in South Florida and a Condo in Jacksonville Florida. The land was way over priced, I didnt realise until after I bought the land I started receiving mail asking if I was interested in buying more land for about 80% less. The Condo was a turn key fully rehab property. Before I purchased I went to withdraw as I found the same Condo in the same building for far less. I was told that the ones for sale were not turn key. My so called turn key is continually having maintenance problems. In 11 months only 2 did I receive the full rent. The management company (Playa Realty & Management) which MY USA PROPERTY recommended are continually making up problems so they can keep most of the rent. Last month I received $20 from $550 rent. Ive now been told that due to a lot of the other Condos in the building being in foreclosure or bankrupt the monthly fees will have to go up. Andrew from MY USA PROPERTY keeps telling me he will look into it and get back to me and get my money back but he had done nothing. Its been over 6 months and nothing has happened and he never responds to me any more. Its just not worth using MY USA PROPERTY!
glad i just dodged that bullet then….
Ferrari2803 wrote:Under no circumstances should anyone use MY USA PROPERTY. I started talking to Andrew who started the group about 2 years ago. I went to see him in Melbourne and after lots of analysing I decided to buy, I bought some land in South Florida and a Condo in Jacksonville Florida. The land was way over priced, I didnt realise until after I bought the land I started receiving mail asking if I was interested in buying more land for about 80% less. The Condo was a turn key fully rehab property. Before I purchased I went to withdraw as I found the same Condo in the same building for far less. I was told that the ones for sale were not turn key. My so called turn key is continually having maintenance problems. In 11 months only 2 did I receive the full rent. The management company (Playa Realty & Management) which MY USA PROPERTY recommended are continually making up problems so they can keep most of the rent. Last month I received $20 from $550 rent. Ive now been told that due to a lot of the other Condos in the building being in foreclosure or bankrupt the monthly fees will have to go up. Andrew from MY USA PROPERTY keeps telling me he will look into it and get back to me and get my money back but he had done nothing. Its been over 6 months and nothing has happened and he never responds to me any more. Its just not worth using MY USA PROPERTY!Unfortunately Ferrari,
There are going to be many more in the exact same boat as you. If they don’t appreciate it now….. they will in years to come…it will all get too hard and people will walk away from their investments…all made on the advice by so called buyers agents who in the end have little or no control over the wholesalers or property managers they recommend. Sounds like groundhog day to all the ones that got sucked into buying in Buffalo and upstate NY years ago on the same sorts of promised returns.
Hello
Im new to this and looking to invest in the US. Ive found some foreclosed property in Jacksonville, Florida, has anyone bought property there? Any areas to steer clear of? Problems etc?
Or even maybe some other areas in Florida to look
Any info would be much appreciated
Hi Deputy,
Welcome to countless hours of research & due diligence !! Out of the millions of foreclosed homes on offer in the USA….how did you narrow it down to Jacksonville FL ??? Family connections etc ??
Hi,
Am very new to USA property investments so am really wondering if the deals as posted in the American Real Estate Investment website as good as they turn out to be or there are more hidden cost and dangers to what they tell you in there?
DO they provide comprehensive services or you still have to source some parts of the transactions on your own. I do understand that going thru them will involve a mark up but if it is not exhorbitant then I guess it’s still a fair deal.
Appreciate the more experiences investors comments here.
Thank you.
T
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