All Topics / Overseas Deals / What do you think of this deal?

Viewing 20 posts - 1 through 20 (of 71 total)
  • Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Hey guys,

    I hope you all had a great weekend.

    Check the numbers out on this deal.

    Looking at holding this property long term.

    Solid B class area and predominantly owner occupied. Will rent for between $700 – $800pm

    Needs a new roof, external paint and some sheet rock on the inside. I am sure plumbing issues will arise also.

    Tomorrow is D-Day. One of our wholesalers is meeting the owner and will be assigning the contract to us.

    How does $13,000 sound???

    Yes, $13,000

    Check out the comps in pictures.

    Thanks for reading and have a great day.

    https://www.dropbox.com/sh/wqkwoa1999pltb1/AADE4-QbcXuN7dVoVUu7vWWha

    • This topic was modified 8 years, 6 months ago by Profile photo of EngeloRumora EngeloRumora. Reason: Pictures didn't upload

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

    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Profile photo of RedwoodRedwood
    Participant
    @redwood
    Join Date: 2013
    Post Count: 340

    Engelo –

    Trust all is well.

    Thanks for posting – You know we had a discussion before you left for Ohio, however help us out, why is it so cheap, according to Zillow the average house price in Toledo is $54k which a predicted decrease of 0.5%. We all know it proximity to the world renowned dump in Detroit. Not being a twat, just more to ensure we are not blinded by the price.

    So whats the area like? perhaps an indication of the murder rate :) The price is dirt cheap – why is it cheaper than its neighbours?

    I have done quite a few set up for SMSF investors purchasing US property (let me make it clear – I donot promote or recommend property), however I wrote this piece on what an investor should consider before making the investment in the states.
    http://redwoodadvisory.com.au/investing-overseas-property-smsf/

    Happy to receive feedback (Jay Heinrichs had a brief review when I was drafting it)

    Happy to write another piece with your input Mr Trump! :D

    Cheers, Ivan

    • This reply was modified 8 years, 6 months ago by Profile photo of Redwood Redwood.

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
    http://redwoodadvisory.com.au
    Email Me | Phone Me

    SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS

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

    Engelo Ivan

    I have no dog in this hunt…. Engelo I am going to put you on the spot here… a 13k home by definition in the US is usually not a strong B class asset LOL….

    does not mean its a bad deal however I think anyone who has read anything I have written over he last years knows my stance on these types of properties.

    Engelo I have a few words of advice for you.. ONE you need to go to California LA specific why your hanging out in Toledo OH of all places … Go West young man… deals are there but you also have the female of the species ad at your age that’s were you want to be LA not Toledo.. I am an old gezer but you my friend need to move on.

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Hi Ivan,

    Thanks for your post and questions.

    Exactly lollol

    That is why I am here. I am yet to figure out exactly why properties in Toledo are selling so cheaply. Maybe due to the stigma it possesses of being so close to Detroit or Michigan. Also, maybe because of a higher decline in population over other states.

    I know the hedge funds have not started banging down the doors here yet so that could be another reason also.

    This is one of deals that is a $30,000 – $40,000 house all day long.

    We have an uneducated seller that has owned the property for 40 years and now has collected quite a bit in back taxes so wants out.

    The 2 neighbor properties sold to owner occupiers.

    Its just one of those cracker deals lollol

    That’s why I am posting it hehe

    Thanks Ivan and you still owe me a phone call.

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

    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Engelo Ivan

    I have no dog in this hunt…. Engelo I am going to put you on the spot here… a 13k home by definition in the US is usually not a strong B class asset LOL….

    does not mean its a bad deal however I think anyone who has read anything I have written over he last years knows my stance on these types of properties.

    Engelo I have a few words of advice for you.. ONE you need to go to California LA specific why your hanging out in Toledo OH of all places … Go West young man… deals are there but you also have the female of the species ad at your age that’s were you want to be LA not Toledo.. I am an old gezer but you my friend need to move on.

    Hey Jay,

    You need to come and visit us and see the market here. I am sure you would be impressed with a few zip codes we are investing in.

    There is this great steakhouse called Mancy’s. I feel like a Don whenever we go there. Has a Mafiaso feeling about it haha

    I love the spot light Jay, how could I not with such a pretty face like mine hahhaha (cough cough face for radio lol)

    To answer your question regarding the $13,000. It is definitely not a $13,000 house even in its current condition.

    Its one of those deals where we have an older uneducated couple that just want out of the deal due to quite a bit being owed in back taxes.

    Also, those 2 comps are not a camouflage as the buyers are home owners and not foreign companies or investors.

    Also, if you guys google “Toledo” you will find that its been voted over the years one of the most affordable markets for price to wage ratio and also high rents so this could also cloud your judgment on the low price.

    Still not a done deal. I heard back they want more $$$

    I guess not so uneducated after all haha

    I know what your saying but I didn’t move to the US to go through all visa dramas and restrictions plus being away from family for a better lifestyle. It was a pure business decision and a lot was sacrificed and invested. I might as well move back to Sydney then as its much better back home then the West Coast IMO lollol

    There will be plenty of time to enjoy later down the track. Still need to pay my dues :)

    I am a bit over feeling like Brad Pitt every time I speak also hahaha

    I prob spend 2hrs a day talking about where I am from and if Kangaroos jump around downtown in Aus haha

    Ohhh yeah and the snakes and spiders

    geeezzzz

    leave me alone people

    Crocodile Dundee much???
    lol

    Thanks guys and have a great day.

    • This reply was modified 8 years, 6 months ago by Profile photo of EngeloRumora EngeloRumora.

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

    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Engelo –

    Trust all is well.

    Thanks for posting – You know we had a discussion before you left for Ohio, however help us out, why is it so cheap, according to Zillow the average house price in Toledo is $54k which a predicted decrease of 0.5%. We all know it proximity to the world renowned dump in Detroit. Not being a twat, just more to ensure we are not blinded by the price.

    So whats the area like? perhaps an indication of the murder rate :) The price is dirt cheap – why is it cheaper than its neighbours?

    I have done quite a few set up for SMSF investors purchasing US property (let me make it clear – I donot promote or recommend property), however I wrote this piece on what an investor should consider before making the investment in the states.

    http://redwoodadvisory.com.au/investing-overseas-property-smsf/

    Happy to receive feedback (Jay Heinrichs had a brief review when I was drafting it)

    Happy to write another piece with your input Mr Trump! :D

    Cheers, Ivan

    ps. I connected with someone that did a few deals with Kiyosaki and know’s Trumps movements.

    Might be able to get my long desired photo soon haha

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

    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Hey guys,

    Here is a video of this renovation in progress.

    Thanks and feel free to ask any questions.

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

    "Make a PASSION an OBSESSION and you'll never work a day in your life"

    Profile photo of Jeff123Jeff123
    Participant
    @jeff123
    Join Date: 2012
    Post Count: 31

    Ouch Cat, harsh but fair?! Lol.

    Profile photo of superAndrewsuperAndrew
    Participant
    @superandrew
    Join Date: 2014
    Post Count: 188

    For Gods sake find a videographer who can teach you some basic video compilation skills because the ones you make suck! I absolutely hate the slit type view. They invented panorama for a reason!! Everything I and others view on these days is 16:9. Why oh why would I want to waste 2/3 of my screen view to blur and its ten times worse on a phone screen…doh!

    I think he is using a phone to film it Catinthehat.

    Andrew

    superAndrew | Property Analyser and Finder Tool
    https://property-analyser.com.au

    Profile photo of RedwoodRedwood
    Participant
    @redwood
    Join Date: 2013
    Post Count: 340

    Engelo – good stuff mate, keep on being aggressive with the marketing and communication, stay aussie and try to take the above from whoever he is constructively.

    My only constructive feedback is button up the shirt bro!

    Whether Toledo is right or not, i’m not right to comment.

    Cheers, Ivan

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
    http://redwoodadvisory.com.au
    Email Me | Phone Me

    SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS

    Profile photo of sciencesurfsciencesurf
    Participant
    @sciencesurf
    Join Date: 2012
    Post Count: 63

    Interesting vid Engelo. I tend to agree with some of the feedback but certainly not all.

    For Gods sake find a videographer who can teach you some basic video compilation skills because the ones you make suck! I absolutely hate the slit type view. They invented panorama for a reason!! Everything I and others view on these days is 16:9.

    For $500 Australian get yourself a gopro and shoot in 1080P or 4K (will be slow but well worth it as video processing technology catches up). They would have to be a hell of a lot cheaper in the US??

    The other thing that sucks, and I think you caught it off your mate Nathan, is your always in the middle of the shot. Your not the subject so get out of there. Shot your focal points and then clip them together and voice it over(You get better sound wink wink). If you want your mug in the thing do an intro or summary.

    I completely disagree. Do you honestly think people want to stare at white walls?? What makes property investing so interesting is the human component. Real people making real money. Nathan gets so many ‘likes’ because people find him engaging. Without him on the screen the true value would be lost – and no-one would bother watching. I can imagine how my students would react if I stood at the back of the classroom, while they looked forward, and I clicked away at a Powerpoint and spoke. Poor teaching. Learning occurs through connection. Engelo, I think you’ve done a great job at achieving that in the vid.

    My only constructive feedback is button up the shirt bro!

    How long have you been in the states? It seems to be rubbing off a little!

    sciencesurf
    http://sciencesurf.wordpress.com/
    Email Me | Phone Me

    Click my website for the Sunshine Coast Property Blog

    Profile photo of superAndrewsuperAndrew
    Participant
    @superandrew
    Join Date: 2014
    Post Count: 188

    I completely disagree. Do you honestly think people want to stare at white walls?? What makes property investing so interesting is the human component. Real people making real money. Nathan gets so many ‘likes’ because people find him engaging. Without him on the screen the true value would be lost – and no-one would bother watching. I can imagine how my students would react if I stood at the back of the classroom, while they looked forward, and I clicked away at a Powerpoint and spoke. Poor teaching. Learning occurs through connection. Engelo, I think you’ve done a great job at achieving that in the vid.

    People who really want to learn want to see the progress.

    The rest just want to be entertained and want to feel the speakers excitement and energy and immerse themselves emotionally. Which is fine too if that is what you want and that’s how you can learn.

    superAndrew | Property Analyser and Finder Tool
    https://property-analyser.com.au

    Profile photo of sciencesurfsciencesurf
    Participant
    @sciencesurf
    Join Date: 2012
    Post Count: 63

    Hi Super,

    So Engelo standing in front of the camera was shielding the progress? Pretty sure he was pointing it out.. Videos have to be entertaining and yes, target the emotions, but that doesn’t have to necessarily get in the way of the finer detail. IMO, they go hand in hand. This is business, and Engelo is trying to promote himself just as much as the progress of the reno.

    sciencesurf
    http://sciencesurf.wordpress.com/
    Email Me | Phone Me

    Click my website for the Sunshine Coast Property Blog

    Profile photo of superAndrewsuperAndrew
    Participant
    @superandrew
    Join Date: 2014
    Post Count: 188

    I was just pointing out the different learning styles.

    I was probably being biased towards the way that I learn though.

    Andrew

    superAndrew | Property Analyser and Finder Tool
    https://property-analyser.com.au

    Profile photo of sciencesurfsciencesurf
    Participant
    @sciencesurf
    Join Date: 2012
    Post Count: 63

    True, everyone learns differently. I guess you’ve got to find a happy medium to target everyone’s needs. Personally, I would have liked to know how much stuff cost etc.

    sciencesurf
    http://sciencesurf.wordpress.com/
    Email Me | Phone Me

    Click my website for the Sunshine Coast Property Blog

    Profile photo of sciencesurfsciencesurf
    Participant
    @sciencesurf
    Join Date: 2012
    Post Count: 63

    In one of Nathan’s latest vids he fails to spell the word ‘Property’ correctly. Wouldn’t say it is an improvement to his brand. Wearing a logo and filming with a backdrop just targets a different clientele. Some like the raw, on the go, take on his deals – especially regular, everyday Australians who have no idea about property investment. His main target audience.

    Whether they were questionable or not is another story.

    sciencesurf
    http://sciencesurf.wordpress.com/
    Email Me | Phone Me

    Click my website for the Sunshine Coast Property Blog

    Profile photo of RedwoodRedwood
    Participant
    @redwood
    Join Date: 2013
    Post Count: 340

    <div class=”d4p-bbt-quote-title”>sciencesurf wrote:</div>
    This is business, and Engelo is trying to promote himself just as much as the progress of the reno.

    Horses for courses. You don’t do naff 5 min vids that try to achieve too much. The last thing I would be doing to promote my business and image is these sorts of low grade sloppy slapped together videos. Birch has spent the last several months cleaning up his YT mess that exposed his over inflated claims. He was popular based on the human interest story… a young go get’m teen making good not his videography skills because they obviously sucked.. Poor publicity, customer service complaints and poor presentation have left a video trail of questionable practices, ethics and honesty. He’s now trying to launder and re-present his brand.

    Engelo’s making the same mistakes.

    question answered…….sorry

    Cheers, Ivan

    • This reply was modified 8 years, 5 months ago by Profile photo of Redwood Redwood.

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
    http://redwoodadvisory.com.au
    Email Me | Phone Me

    SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS

    Profile photo of superAndrewsuperAndrew
    Participant
    @superandrew
    Join Date: 2014
    Post Count: 188

    Too many property gurus targeting everyday Australians who want to get into property investing.

    Most of them don’t make money from investing but from “teaching” or selling their overpriced/turnkey investment properties. They spend too much time on their image and their brand.

    I mentioned this on another forum.

    Successful investors don’t have time to teach. They spend their time investing, buying, selling and managing their properties.

    As the saying goes: Those who can do, those who can’t teach.

    No offense to real teachers.

    superAndrew | Property Analyser and Finder Tool
    https://property-analyser.com.au

    Profile photo of sciencesurfsciencesurf
    Participant
    @sciencesurf
    Join Date: 2012
    Post Count: 63

    Haha no offence taken! Thanks for the objective debate. Interesting comments about what makes a successful investor. What path are you taking then super?

    You’d think Nathan should have a few dollars behind him to pay people to sort the ‘business’ side out? And he must know a little about leveraging by now…

    Although as you’ve stated previously Freck, having access to experience doesn’t necessarily translate into a good product.

    sciencesurf
    http://sciencesurf.wordpress.com/
    Email Me | Phone Me

    Click my website for the Sunshine Coast Property Blog

    Profile photo of superAndrewsuperAndrew
    Participant
    @superandrew
    Join Date: 2014
    Post Count: 188

    I invest and can tell you what to do if you want to get into investing for free. It’s not rocket science. It just takes time.

    I have purchased properties for others before and still do but don’t call myself a buyer agents since I don’t charge a fee to the buyer but earn my commission by negotiating a lower price which is what a buyer agent should do.

    superAndrew | Property Analyser and Finder Tool
    https://property-analyser.com.au

Viewing 20 posts - 1 through 20 (of 71 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.