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  • Profile photo of avest50avest50
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    @avest50
    Join Date: 2012
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    There are so many sites on the internet about purchasing U.S property. Some people say its a great opportunity and others say its a scam… Who can I trust?

    Profile photo of worldinvestorworldinvestor
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    @worldinvestor
    Join Date: 2011
    Post Count: 297

    Trust nobody…… 

    You need do your own homework and most importantly understand what you are researching. 

    Plenty of information on the forum to help you.

    Profile photo of Ziv Nakajima-MagenZiv Nakajima-Magen
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    @zmagen
    Join Date: 2012
    Post Count: 523
    worldinvestor wrote:
    Trust nobody…… 

    You need do your own homework and most importantly understand what you are researching. 

    Plenty of information on the forum to help you.

    Having said that, there are quite a few capable individuals in these forums who have a proven track record helping people achieve these goals. You’ll see their names being mentioned repeatedly (and not in advertisement posts :))

    These are a good place to start too. Anyone who provides you with ample information which you could act on independently if you so wished, as opposed to those who tell you you can’t do it without them and should be very afraid to do so, is probably someone worth investigating further.

    Best of luck!

    Ziv Nakajima-Magen | Nippon Tradings International (NTI)
    http://www.nippontradings.com
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    Ziv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property

    Profile photo of worldinvestorworldinvestor
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    good advice Ziv

    Profile photo of streamlineinvestingstreamlineinvesting
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    This was one of the biggest concerns we had with our agent in Florida when we got our first house. We had never met her, even though we had been dealing with her for over a year before we finally got to finalise on our first property.

    Towards the end there were plenty of questions between my business partner and I about can we really trust this person, how do we know this all has not been some elaborate scam?

    We did our best to look her up on the internet and see if there was any sort of bad news about her, we talked to people who had dealt with her before, unfortunately none of them had secured a property with her despite using other services that she offers.

    The biggest thing for me that let me know she was legit, was how when we had asked her about potential investment properties, she had rejected probably 90% or so of what we suggested saying they were not good investments. Not only this, but she also put her own money forward as a deposit for us on a couple properties. I guess by doing things like this, we were able to build up enough trust in her, and now it has turned into a very great business relationship.

    Profile photo of bigfirerichiebigfirerichie
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    @bigfirerichie
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    Happy to recommend Emma on this forum…..helped me buy a place in Vegas….most importantly I bought through licensed real estate agent and not some flip or turnkey deal.

    Not always easy to keep up with her…. but is honest and helpful..and most importantly is there on the ground when something goes wrong.

    Profile photo of CasaHunterCasaHunter
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    streamlineinvesting wrote:
    This was one of the biggest concerns we had with our agent in Florida when we got our first house. We had never met her, even though we had been dealing with her for over a year before we finally got to finalise on our first property. Towards the end there were plenty of questions between my business partner and I about can we really trust this person, how do we know this all has not been some elaborate scam? We did our best to look her up on the internet and see if there was any sort of bad news about her, we talked to people who had dealt with her before, unfortunately none of them had secured a property with her despite using other services that she offers. The biggest thing for me that let me know she was legit, was how when we had asked her about potential investment properties, she had rejected probably 90% or so of what we suggested saying they were not good investments. Not only this, but she also put her own money forward as a deposit for us on a couple properties. I guess by doing things like this, we were able to build up enough trust in her, and now it has turned into a very great business relationship.

    Hi streamlineinvesting, could I ask you which agent did you used and where did you buy the properties?
    Thanks!

    Profile photo of streamlineinvestingstreamlineinvesting
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    @streamlineinvesting
    Join Date: 2010
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    CasaHunter wrote:
    streamlineinvesting wrote:
    This was one of the biggest concerns we had with our agent in Florida when we got our first house. We had never met her, even though we had been dealing with her for over a year before we finally got to finalise on our first property. Towards the end there were ple…..ngs like this, we were able to build up enough trust in her, and now it has turned into a very great business relationship.

    Hi streamlineinvesting, could I ask you which agent did you used and where did you buy the properties?
    Thanks!

    No problem, we purchased in Florida, Fort Myers area. And our agent was a poster on this forum, her name is Judith and posts as ActToday, send me a private message if you want her contact details.

    Thanks

    Profile photo of avest50avest50
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    So you suggest going with a real estate agency in the US? Flying is expensive but I guess its worth it to meet in person….

    Profile photo of Nigel KibelNigel Kibel
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    I could not agree with Alex more. Too many Australians buy property through companies that do not know or understand there markets. Frankly if you buy property without doing your own due diligence you only have yourself to blame if it goes wrong.

    Nigel Kibel | Property Know How
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    Profile photo of EngeloRumoraEngeloRumora
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    I bought my property without seeing it but have a good friend who owns over 60 properties in the US so I trusted him with his advice.

    A couple thousand dollars is not a lot of money to pay to go see things for yourself and meet people you will do business with face to face.

    Engelo

    EngeloRumora | Ohio Cashflow
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    Profile photo of Nigel KibelNigel Kibel
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    Engelo

    It comes down to the quality of the people you are dealing with. If you have a friend that you trust that is fine. However the average person is not in that position. Unless you are certain about the people you are dealing with on the ground you need to carry out due diligence. After all it is your money that you are spend. Remember a fool is easily parted with there money.

    Nigel Kibel | Property Know How
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    We have just launched a new website join our membership today

    Profile photo of EngeloRumoraEngeloRumora
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    Exactly,

    Thats why I said the average person should buy a ticket and go to the US.

    Engelo

    Nigel Kibel wrote:
    Engelo It comes down to the quality of the people you are dealing with. If you have a friend that you trust that is fine. However the average person is not in that position. Unless you are certain about the people you are dealing with on the ground you need to carry out due diligence. After all it is your money that you are spend. Remember a fool is easily parted with there money.

    EngeloRumora | Ohio Cashflow
    http://ohiocashflow.com/
    Email Me | Phone Me

    F@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST

    Profile photo of Alex SCAlex SC
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    engelo10 wrote:
    Exactly,

    Thats why I said the average person should buy a ticket and go to the US.

    Engelo

    Nigel Kibel wrote:
    Engelo It comes down to the quality of the people you are dealing with. If you have a friend that you trust that is fine. However the average person is not in that position. Unless you are certain about the people you are dealing with on the ground you need to carry out due diligence. After all it is your money that you are spend. Remember a fool is easily parted with there money.

    You are both correct flying over check things out.  Years ago we dealt with a LA investment group. I spoke their monthly. Brought us alot of business. We had a fallen out because we asked Not required clients to fly out.  Every one who is investing any where should Take a few days to check out the team, the homes , the company . Stop by some other real estate agencies , property management companies. While you are in the area. Their was client recently in town for a visit with me. Spend some time looking at houses. I made sure to have him right down the other houses for sale, for rent in the area that were not mine. Again this is a little way for clients to check things out. Make sure the numbers an agent or a reseller is feeding you  are honest for the area you are in.

    Alex

    Profile photo of avest50avest50
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    @avest50
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    The Aussie dollar is weakening http://www.news.com.au/business/australian-dollar/dollar-falls-as-eurozone-hopes-fade/story-fn6t6wad-1226364143687 If the Aussie dollar weakens against the US dollar what will that mean for investment returns?

    Profile photo of Ziv Nakajima-MagenZiv Nakajima-Magen
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    @zmagen
    Join Date: 2012
    Post Count: 523

    Awesome for returns, it’s the purchases that’ll suffer in the short term.

    Ziv Nakajima-Magen | Nippon Tradings International (NTI)
    http://www.nippontradings.com
    Email Me | Phone Me

    Ziv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property

    Profile photo of jayhinrichsjayhinrichs
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    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    couple of commnets and Ideas for those looking for representation in the US.

    Now full disclosure I am a Real Estate broker in 3 states and have been for 35 years with never a complaint this is public record.
    so I am partial to dealing with RE professionals. However just B/C they are licensed does not mean they are competent in what your looking for..big difference in agents that handle income property and those that handle houses for owners…

    Here are a couple of tips.

    1. If you have a RE agent your corresponding with…I would ask the following.

    Full name so I can look them up on the State DRE website on this web site you can see when they got licensed what licenses they hold and if they have ever had any complaints the nature of the complaints and if they have ever been suspended restricted or revoked. I guess I just got lucky over the years to never have a complaint, Not that I did not have my share of disputes with buyers or sellers I just was very good at resolution, This will give you a good first indicator. And you can practice on me if you wish.. at the DRE in California or Oregon or Mississippi… Jay L. Hinrichs…Take you 5 minutes to see my track record or any other agents.

    This is critical in all states that require PM’s to be RE brokers… Never hire a PM without checking out his license capacity.. I have seen so many unlicened PM’s over the years its just crazy and no way of you knowing unless you ask then double check.. Many times they just have a rent a broker’s license they run under.. which is legal but maybe not the best.

    2. Contact local closing attorneys or title companies and ask them for names of the agents that close the most deals with them… this will give you some indication of who is doing what… Again not always the best indicator but a nice barometer… When I go into a market that I am looking at first time and its one I did not do a lot of loan business in. this would be my first step, I wanted to get to know the PLAYERS not the part timers…

    3. Call or contact the bigger property management firms and ask them who brings them the most clients… This will also get you leg up,,

    Property mangers can give you a good second opinion as well… Since all of you OZZIES are putting your eggs in the PM basket this is critical step for you…

    4. I like to know that my RE agents live fairly close to what they are selling… Makes it much easier for them to do inspections and such for you.

    5. LASTLY I WOULD HAVE THEM SEND YOU A SELLERS DISCLOSURE FORM THAT ALL STATES HAVE THAT IS MANDATORY FOR THE SELLERS TO FILL OUT AND DELIVER TO YOU FOR YOUR REVIEW AND APPROVAL.. I WILL BET YOU THIS IS THE MOST VIOLATED RE LAW GOING ON… NON LICESNED SELLERS WILL BLOW IT OFF OR NOT EVEN KNOW ITS A REQUIREMENT… LICENSED AGENTS SHOULD BE ABLE TO E MAIL YOU THE FORM. get familar with it so you know what to ask during your due diligence…Especially areas like Ft. Myers as was mentioned above… You want to know if its in the areas that have no public water and sewer and are on well and septic ( higher maintenance costs).. These items will be clearly defined in the Sellers disclosure statement.. get one read it and use it as your due diligence guide.

    Caveot most state exempt banks from filling out the disclosure there is just a excluded box but they still have to give you the disclosure and there will be 50 to 75 items in check list form that you will want to know about. Any of these reselling companies SAY like TRR if they are truly the seller they need to provide a Sellers disclosure.. curious if any TRR clients are getting those or even know who is actually selling them the properties. and this goes for any other Turn Key company not just singling out TRR.

    JLH

    Profile photo of mihovimihovi
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    @mihovi
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    Profile photo of jayhinrichsjayhinrichs
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    @jayhinrichs
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    Mihovi

    These guys missed it on the second article that “Las Vegas was ahead of its foreclosures and Florida is behind because of Judicial FCL.”

    I agree with Florida and its one reason I would never lend money there, FL and NY are absolutely the worse places in US for a lender.

    NV just passed senate bill 248 that brought the foreclosure sales to a halt.. r the issue of the foreclosing party to actually be in possession of the original NOTE…. Since most of these loans were sliced and diced many lenders only received their beneficial interest through an Alonge document…. Thereby precluding their power of sale in the Deed of Trust.

    So this has all but stopped foreclosures in Vegas… Vegas inventory is down to less than 4 weeks…. 20 offers plus per home are common etc etc… BUT:

    there are 250k mortgages in Vegas that are 30 days or more delinquent… Can you say Shadow Inventory….

    This article is poorly researched and is not accurate… Most of these types of stories are macro and really not Germane to those of us in the trenches.

    JLH

    Profile photo of MosquiMosqui
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    @mosqui
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    streamlineinvesting wrote:
    CasaHunter wrote:
    streamlineinvesting wrote:
    This was one of the biggest concerns we had with our agent in Florida when we got our first house. We had never met her, even though we had been dealing with her for over a year before we finally got to finalise on our first property. Towards the end there were ple…..ngs like this, we were able to build up enough trust in her, and now it has turned into a very great business relationship.

    Hi streamlineinvesting, could I ask you which agent did you used and where did you buy the properties?
    Thanks!

    No problem, we purchased in Florida, Fort Myers area. And our agent was a poster on this forum, her name is Judith and posts as ActToday, send me a private message if you want her contact details.

    Thanks

    I also used Judith, excellent, very professional and honest. Couldn’t done it better myself. She got a lot of experience here and in Florida too now. She also owns houses in Fort Myers, so at the end of the day she is another oz investor in the US.

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