- Peter GerolymatosParticipant@petergee01Join Date: 2016Post Count: 9
As a seasoned US Property Investor and currently the owner of a mid-sized Property Management Company in the US, I’ve noticed through my business activities that many Australian Investors purchased investment properties a few years ago (when the exchange rate was more favourable) without being properly educated or truly informed of their investment risk.
Fast-forward to today, and bad product, bad management, and slick-seminar-syndrome has left these same Investors with significant capital loss. Many are looking to divest themselves of their purchase, unfortunately turning to the very same groups from whom they purchased the property in the first place. In my opinion, a big mistake. The current trend indicates that issues are escalating, since my company in Kansas City seems to be engaged more and more as an “asset recovery service” as opposed to a property management service.
The thing is, property investment in the U.S. can work, really well.
I’ve decided to start a National Forum through which Investors can not only have the opportunity to share their story, but also through which I can collate data from around the country and attempt to create a “best practices for management” policy, adding my own experience as a U.S. Property Investor and National Property Management Company owner.
My goal is to identify the core needs of Australian Investors, potentially form some kind of alliance with which I can seek better management terms and results in the U.S., and thereby achieve greater profitability and full transparency. I’m not trying to sell anything, nor am I advising on where to buy – rather, I’ve had enough of the way shady U.S. operators (and their Australian mouthpieces) continue to misrepresent or neglect to disclose data relevant to the product being bought, and have a somewhat bold plan to help straighten everything out and recover or increase asset performance.
I’m doing this through Meetup.com, and I’d like to ask interested Investors to join my Group. It’s called “AUS-USA Investment Property Support Group”, and our first meetups begin next week.
Please join, and please spread the word – ask any colleagues that have invested in the U.S., especially if you’re happy with the level of service you’re currently getting – it can always be better! I’d love to hear of your experience.
- This topic was modified 4 years, 5 months ago by Peter Gerolymatos.