Has anyone here worked with a company ( actually bought a property) through "cash flow gold" run by Jason Simpson who I believe posts on this forum from time to time.
Any feed back would be kindly appreciated .
I'm looking to purchase in the US in the next couple of months and trying to weigh up weather to go with a buyers agent to help guide me through the process or go it alone, either way I plan to travel to the areas I interested in and check them out personally.
Whether you think you can or think you can't ....... your right . - Henry Ford
Engelo's a pretty switched on young guy and honest as the day is long. If you want to jump on someone's coat tails you'd struggle to find better. He's running a group over there at the mo' doing reno's I believe.
Given that you are looking at $10,000 I would not see that as a recommendation, given that cashflow gold were buying in detroit and now sell hotel suites in mining areas I would suggest you be careful there to as well.
However Priscilla you seen to be keen to part with you money so good luck, but please do your due diligence carefully
Any company that 30% net returns is a scam in my opinion. What happened to all those people Cash flow Gold sold to in Detroit? Are they still getting the 'amazing' returns people were promised? Its just a pity it took so long for Aussies to wake up to such marketeering and I daresay the exact same thing will happen here. What will happen when all these mining companies shift out of town? Or the price of oil drops? Or any other MAJOR change that can happen in such an industry. That sort of advertisement is unfortunately making false promises good luck. I'll stick to QLD thanks!
Nigel – Very informative video on investing in general and worth a watch/listen. Couldn't agree with you more on the Detroit market….investors started going there in droves around '07/'08 and outside of some successful Section 8 rentals, almost everyone I've heard of lost their shirts except for the wholesalers. Why invest in a place where you wouldn't lay your head at night? That should be the first rule of investing anywhere. Nigel targets the Orlando FL market which is an awesome US market….the economy is atypically stable for FL with strong employment & tourism thanks to Disneyland, SeaWorld and the like. I spent a week down there reviewing properties in June and liked what I saw….just a bit more expensive than what I can still do in Atlanta. Sounds like he has a very solid program going down there. thanks for sharing. Andy
I did 200 plus loans in detroit from 05 to 07 and exited in 08… I ended up with 2 REO's and rehabbed them and sold them to kindly home owners on vendor contracts/ The lovely buyers both defaulted within 6 months and totally trashed the houses. I lost 100k cash on those deals..I would not touch detroit with a ten meter cattle prod personally
I would only consider Detroit if the rental pool had 700 plus fico's Debt to income ratio 30% or so. years on the job and absolutly NO section 8. And in areas were the houses truely cost 100k or better. there are no board ups on the street ext.