I was considering china for a while, but don’t consider myself the gambling type. Their “policies” are too capricious, to be mild.
Ziv Nakajima-Magen | Nippon Tradings International (NTI)
http://www.nippontradings.com
Email Me | Phone MeZiv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property
ben1990 wrote:I have previously looked into investing in the US, I had got in contact with some company that catered to Australians looking into investing in the US.. I ended up getting the impression it seemed like a dodgy scam. I forgot the idea since until I just found this topic. Is there many worthwhile areas in the states to really buy? or should I just stick with what im doing in Australia? Cheers, Ben.Ben,
Odds are that the company you were dealing with were a dodgy scam so your instincts were probably correct. You need to do plenty of research and educate yourself about the US before you consider investing there. Read through some topics in this forum…you will learn some stuff in that. After you read a few you will start to pick up who has the knowledge and experience. There are the guys from the US such as Jay, Kyle, Alex, Cheeves, who all operate in different markets and have many years of experience between them all. Then there are some Aussie investors such as Emma who I think lives in the US and helps Aussie investors. World Investor has been doing well and knows her stuff and Speedy Gonzales seems to be having success.
Then once you have a plan in place you need to spend some dollars and jump on a plane and go and investigate the market you have chosen for yourself and spend some time doing some due diligence. Yeah it all adds up to dollars so if your only considering 1 property in the US then it's probably not worth the effort. If your considering multiple or building a portfolio and treating it like running a business then it's worthwhile in my opinion. It's not a sit and forget type of investment and it will require your input and monitoring although Jay has the only type of opportunity that I think would qualify as sit and forget type of investment.
Thanks for that mate! I will certainly have a look through and soak in as much info as I can. Last thing I want is to go ahead and spend a lot of money building a foreign portfolio and for it to turn to nothing faster than I can blink. Is there other countries that are worth while looking into?
modeling will get you everywhere
Hi labradorinlove,
Thank you for you sharing your story and experience.
I guess you must have a lot of sleepless nights.If I were you, I would just fly there. do whatever it takes to get rid of the properties and move on.
You got to weight out the benefit/rewards and potential sleepless nights, if you still keep holding these properties.
I really appreciated that you work hard and had 8 properties when you are still in your 20's. This experience will certainly make you better investor going forward.
please let us know how the story end.
Best of luck
To put an end to the story I sold all 3 properties at a profit of $50,000. However then you have to minus the $20,000 that the con artist tradesman stole which brings the profit down to $30,000. At the end of the day I came out on top but there is still a con man walking around continuing to rip people off on an ongoing basis.
ben1990 wrote:Thanks for that mate! I will certainly have a look through and soak in as much info as I can. Last thing I want is to go ahead and spend a lot of money building a foreign portfolio and for it to turn to nothing faster than I can blink. Is there other countries that are worth while looking into?You would need a couple of bottles of red to go through this forum alone and by the end of them none of it will make any sense. As far as other countries….not my field of expertise. There is a mortgage broker in Brisbane named Richard on this forum and I think he assists with UK purchases. Then there's zmagen on this forum who specialises in Japan. I'd check with them about opportunities they could assist with.
labradorinlove wrote:To put an end to the story I sold all 3 properties at a profit of $50,000. However then you have to minus the $20,000 that the con artist tradesman stole which brings the profit down to $30,000. At the end of the day I came out on top but there is still a con man walking around continuing to rip people off on an ongoing basis.Hey labrador,
Congratulations. It must feel better now they are sold ? Have you taken into account Capital Gains Tax on your profit the IRS will want a share of ?
So was your plan when you set out to invest to buy refurb and flip ?
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