With 2010 now underway, there has never been a better time to invest in the United States. What is important is to use an experienced mentor who knows what they are talking about.
So some simple rules to remember
Never buy over the internet without having the property checked out.
When I was in Texas I looked at a property that was 4 apartments in a complex with each apartment returning $500 per month (according to the agent) each and with an asking price of just $59,000 this sounds like a great buy.
However when I inspected the property the whole building was boarded up, clearly no one lived there. I wonder how many misinformed investors would have purchased this property sight unseen.If you are only going to buy one property do not bother.
There are costs to establish structures and with only one property it will be expensive. You need to look at multiple properties.
Buy only if you want a large portfolio
Aim to treat this as a business and aim to buy a lot of property. Unless you are looking to do this you are wasting your time, in my view.
If you are going to do this yourself set the time aside.
If you are like many investors and you are going to a target area and you have put aside a week or two again you are wasting your time. It will take you a lot longer to understand the market, Keep in mind that I lived in Texas for the better part of 12 months and just before Christmas I traveled there again just before christmas. I am still learning and I teach for a living. Investing is more complex than it looks and a lot more complex when it is in another country.
Even if I mentor you you need to travelling to the United States at least once to get a tour of the locations buy me but also to set up a bank account and a structure and an interview with our accounting firm.
Once this is down we can start to buy property for you. My team deals with both normal property, foreclosed properties, subject to deals where you do not need to worry about finance. My aim is to develop a strategy that will best suit your future investing needs. If yo would like to know more please feel free to contact me for a first chat to see if investing in America is something that you should consider.
Keep in mind that I do not aim at the bottom of the market and provide a complete mentoring service.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Hi Nigal,
Are you guys licensed to give financial advise ???
I have looked at your web site at although very enticing there are no guarantees from any person here being protected by you great words …
Sorry Nigel I am not being negative but when I searched your name via TDFT it did not come up as a licensed agent or financial advisor, and others of your team did either, am I seeing this post in the wrong light ??
kAre you offering personal guarantees under a dealers license I am sure other financial advisers can help me here or are you a marketing group ?? I am confused with your post.
I guess the reason for my question is that my company has been approached by TDFT and the ASIC to provide proof of who I am giving advise to as it is their 2010 goal to stop unlicensed people soliciting clients into "investments" without proper advise …
Looking forward to your reply and good luck with USA
Philip Sigglekow author
Hi Philip
Our company is licensed through Changing Places which is a real estate company. I am a licensed agents representative with Changing Places. My partners in the United States are also licensed agents.
As indicated above our role is to mentor clients that are interested in investing in the United States. In other words we share the knowledge that we have developed over a number of years to help clients make informed decisions. We do not make guarantees how can you but we teach people how to do the due diligence.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Hello Nigel,
I looked at your web site changing places and it appeared there was little on it …
USA is such a huge place and I know Steve has been there himself I am wondering if Steve is going to be running courses this year on USA buying like Dymptha is … how much do you charge for giving this advise Nigel and do people have to buy from you at the end or can they buy it them selves like realestate.com.au
Nigel,
Thank you for your reply … I think this year will be an interesting year for education companies in Australia as we have been put through the ringer for compliance and qualifications including yesterday a 4 hour meeting with TDFT in Sydney.
I am fully licensed in all states of Aus plus cert iv and last year finished a IPA investment property accreditation … the reason for this and getting extra qualifications is because giving the wrong advise to an unsophisticated investor that does not go as predicted will soon (this year) be financially retrospective … that means the person or persons including staff, will be liable to payback any losses incurred from that advise … ouch !!! sort of down the lines of misleading and deceptive DFT section 52 & 54 we need lots of legal advise this year.
Seminar numbers are down drastically across the board and a quote by Robert Kiyosaki that 98% of people who attend seminars don't do anything is a reason why more people are going on line for free stuff etc.
We are offering lots of FREE programs this year including property options and JV Partnership courses on-line, the only extra fees will be the legal agreement templates that are created by my legal partners and alliances.
The USA is interesting but for me not having an intermit knowledge of the best areas in a populated area 14 larger than Australia is risky unless you have the time and money to go over and walk the streets so to say but saying that some of the stories look great … we see motel conversions and plus 55 as new opportunities here in Australia that have popped up from the aging population and credit crisis.
Baby Boomers started from 1946 + 65 = 2010/2011 = 130,000 people per year now begin to retire – selling their homes and redeveloping these well located properties could take care of the so called housing crisis plus relocating those people into affordable accommodation with good positive cash flow returns for the investor.
Very interesting and exciting year ahead for all.
Philip Sigglekow author
Thanks Philip
I am also doing the financial course. However my aim to to assist people and offer potential opportunities for people wishing to invest in the United States. I do not have a web site on the USA as yet. However my service is a mentoring service I am not here to flog property on mass to people but rather help them undetrstand the opportunities then act as a buyers advocate if they wish to buy.
I am always happy to talk to someone in the first instance if they are interested in investing in the United States.Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Hello Nigel,
Just looked at your web site 21stcentury … so you are with the Jamie McIntyre organization which is great I have some of his Cds and his billionaire in the making … what are your fees for teaching people there seems to be a lot of experts with wonderful sounding blogs but no licenses not that that is a problem … but I did understand the ASIc last year took away the license from 21st century or the dealers license anyway and not the real estate license … sorry just trying to understand clearly what you guys do from your post and your web site that you put up, you said before you don't sell property but the site says you do ??.
Who We Are :: Meet The Team
We have a team of dedicated full time property professionals whose task is to work all year round, scouting for the right opportunities, and preparing briefs on literally hundreds of projects or potential development opportunities, right across the range of prices and locations. Those developers are then assessed against a comprehensive list of criteria, including if their developments have rental demand, transport infrastructure, availability of local shopping, transport and schooling, council planning for the area, the builder's and developer's experience, floor plan design and specification of finishes. This is done to ensure we choose only high capital growth investment projects on behalf of our clients.
As a Member of Property Direct, you'll benefit from exclusive access to developments by being the first to hear about new projects. In the vast majority of cases Property Direct projects will be offered by selected developers to Members first, before they are released to the general public.
Ouch !!
I think this is a good time for people in the real estate business to reread their web sites and what they offer to the public … We are currently going over every word as instructed by the department of fair trading in our web sites because of this …
Nigel I mean this in the nicest way … what you have said here and what is on your web site, you are saying you are giving financial advise, what ever way you look at it … if you say you ran a real estate business you could be asked for proof and the name of that business and a license number.
Any representative including employees of 21stCentury giving advise making projections (including the finance team) etc make the directors of that company liable … ask a financial advisor or solicitor or TDFT in Victoria to read your web sites very carefully … I am saying this in the nicest way to everybody… going are the days of saying I am only a guide in the process, or I’m only helping on the education side, whether you like it or not you (and others including me) are giving advise “at law” because of some past shady people losing investors money this year TDFT is on the war path and look out.
This year the ASIC are enforcing new laws on finance brokers – that is why so many are leaving the industry … because it is getting too hard for them and a new smart bread will emerge to work directly with the banks under the banks dealers license.
This year TDFT is looking for any person selling or advising on property investing, including any person standing on stage giving financial advise, regarding stratages they have done or their company, will be required to hold a dealers or suitable license – because whether we like it or not it is deemed as being seen as giving advise to profit in real estate ie: giving advise on how to make a financial gain (if that is what you are projecting to be as an expert or professional in the eyes of the public) then that requires a person to be licensed.
PS 146 and RS 146 require a person to work under a dealers license then that dealer is liable … any person saying they have those qualifications will be required “at law” to show the dealers name license they work under … yes it is going to get hard and financial planners, accountants, solicitors are laughing all the way to the bank.
Real estate agents will also be required to take further studies to sell any property that is not a PPOR … yes the old agents are sweeting as well … or an agent will need to get a dealer or fin. advisor to sign off on the sale.
As a buyers agent (not advocacy, I believe that is the incorrect term) you are under another persons license and must provide the details of that entity “at law” (misleading) so when a person says I am a buyers agent they will be required to include the name and number of who they work under because that person will be liable “at law”
The people who cannot do that will have to find a new profession.
I am not saying this to scare anybody it is the new laws that are coming in now, and will increase in intensity as time goes on … oh it will become retrospective … in short the people who have worked and studied their butts off will prosper with their qualifications … the others will become a target.
Imagine this – you are running a seminar presenting to the public and sitting in the front row in disguise are 2 people recording you with hidden mikes one from TDFT and the other ACCC, I have been told that this is planned for 2010… oh they used wrong names when they signed the entrance form, all real estate agents, home loan experts, seminar presenters are all under the spot light … over the past 3 years I have attained several courses through the securities institute and REI for this reason, I knew the days we coming.
Good luck to you all and I hope this has been good information to all concerned … Philip Sigglekow
The 21st Century academy runs many services, property direct offered both off the plan and buyers advocacy. Any service to the United States would be a mentoring service and a buyers service. In our web site we do not offer set returns or make rash promises. All we are saying is that we use our combined experience to help client invest in quality property.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Understood Nigel loud and clear however ring TDFT and ACCC
If you are running a business giving financial advise on investments whether that be advocacy, guidence, holding hands etc you must have a license … that is the law because you are receiving a FEE or COMMISSION for advising people how to invest their money … ask a solicitor or phone the ACCC and TDFT … please don’t take my word I have no interest in what you do, I did the hard yards like many others.
Or do nothing and wait …
Yes agreed I recently met with Mr Peck at the ASIC and they have teams ready this year just focusing on people giving advise without a license … including raising money for developments.
This includes stage presenters, wealh creation companies, marketing companies, interstate and OS sellers … and more
Any person or business making representations to the public to be an expert or a professional must work under a "dealers licience" and most dealers hate property.
I for one would use my Fin. Planning license to a real estate company … it is expected that 4000 mortgage brokers will leave the industry before June 2010 because of the above comments …
USA is always a very productive place for real estate business. The price of the property here decreased a lot after the recent economic recession. But now the condition of the market has been changed. The value of land has risen and more and more new projects are being started.
Hi Marx,
I agree that certain areas are effected more than others and those reliant on industry are effected worse than ofther …
Agora Financial (USA) just published the worst figures for USA housing drops … do you read their news ??
Sighting : mortgage refinancing – worsening unemployment – 5 year loans falling due – credit debt – top end coming back another 20% in value – major commercial vacancy rates …
These are the facts I am not making this stuff up …
Robert Kiyosaki says he only invests in second hand cheap real estate … preferably for over 55 year olds with no assets …
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