We’re pleased to announce that PropertyInvesting.com has a new focus group for investors interested in receiving news and updates about the US property market.
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I think this will be a helpful group for me, I recently acquired 2 multi family units in Rochester, NY, and am monitoring their performance. 1st month – negative, expected I guess. lets see how it goes for the next 6 months. If anyone wants to know more please feel free to contact me.I am an "out of town" landlord. I hope to get helpful advice from similar investors regards, NNT
Personally i think it's time to either get out of the US market or reduce exposure at the least. Take the gains and capitalise on the exchange rate shift to bank some gains while the goings good. The risk is that the market corrects badly again, the FED pushes more QE out the door which could see the AU strengthen against the US even though the AU has its own troubles.
The big funds are setting themselves up to exit and that doesn't suggest anything good for the investor.
Hi would love some feedback, I'm a property investor in Aus and I am looking to get into the US market and I have been doing a lot of research and have found Splash property group, has anyone used them before or worked with Salena Kulkarni.? This company is charging $5000 as a deposit to work with them, it is a turnkey operation- obviously dont mind paying a fee for there exsperties. She is suggesting Detroit (Saint Clair Shores) but a little nervous with all the bad press. Looking at multiple properties obviously for economy of scale. Any recommended areas to get into appreciate any help?
With so many cities to choose from in the US, and many being far better that Detroit, why would anyone want to buy there? Most large cities, and even some of the smaller ones, just like cities here in Australia, you have good and bad areas, and being local, you would get to know the areas not to invest in for whatever reason.
The same in the US.
So with such a vast choice, why choose Detroit, as it has so many negatives? And with so much available information, don't get caught up with any hype or slick salespeople.
When you get to know some of the true professionals in the US, and they tell you to stay away from Detroit, you tend to listen.
You can buy some very nice looking brick homes showing a high return,, the reality between showing what should be achieved and what you will actually get, and having quality tenants for the long term, is very different.
Just don't be taken in, and if going ahead with buying in Detroit, get to know who you are really dealing with over there, not just who you are buying through over here. HUGE DIFFERENCE.
Well put Jayman, in all my years in US investing, I've never heard of anyone buying an investment property in Detroit and doing well with it. At the height of things in Atlanta, I had groups trying to get me to take my team to Detroit and I refused to do so. I visited a couple of times and wasn't impressed. The key to investing anywhere, at least for me, is a simple question of whether or not I would sleep there. If not, i voted with my shoes and move in a different direction. I love Atlanta but am biased because I live here. I also favor Orlando florida and parts of the tampa area. Investing in the inner city only makes sense if there is something different either happening or about to happen in the area that will be a catalyst for change in a positive direction. Like the 400 acres redevelopment project coming in Atlanta. Cities leading the US in murders isn't a good place to park your funds…..despite any hype to the contrary. Only people who have made money in Detroit are the wholesalers selling off properties! That has been the case for about 8 years now.
For most foreign and domestic US investors, as Jeff so aptly puts, the reality between what could be and what IS are vastly different things. Andy