Hi experts out there, I recently spoke to someone about a friend of theirs who purchased 3 properties in the USA and now is able to live there and self manage his own houses?
Has anyone here done this or is doing this now, whats the best way to go about achieving this as my dream has always been to live in the USA.
We can probably buy 2-3 houses and would like them to be near friends and family over there.
Any advice or experience with this would be helpful.Deb
Curious why would you want to leave OZ and live in the US??? you have a great country great attractions.. Many US folks would want to live your life style,, whats the attraction for an Aussie to come here,,,, I get it with the Mexicans,,, Chinese,, Indians etc.
There is a program the EB5, that if you invest 500 to 1 million in a US company creating a certain amount of jobs that you automatically get a green card… This is how many Nouve Riche Chinese and Indians get in the US.
but buying a few rentals how are you going to do that.
but back to your thoughts of self management.
If all you own is 3 houses in the area you live there is absolutly no reason you could not manage them, unless you are too busy or just do not like confrontation when things do not go right.
On my personal High end rentals IE homes that I have bought for 200k to 300k.. I self manage all of those and they are out of state,,
What I do is have the leasing company procure tenant for 50% of the first months rent… thats 700 to 1000 in my case,, Then I take it from there,,, I engage a handyman service and off we go… Now caveot is these are all homes I bought brand new that are 100% brick with scored concrete floors… And carpet only in bedrooms. And in the very best school districts with tenants that are more corporate in Nature IE transfering in to work in some corp for 18 to 24 months and want higher end properties… I have zero collection issues and maintenance is nothing more than I spend on my own house.
If you buy low end rentals it will be much more difficult and I would not recommend self managing if you did not live in the town you own them… And or if you buy in really rough hood type areas.. IE buying super cheap homes in big cities, collecting those rents can be dangerous to your health.
All the property managers that I know that have that product do not leave the office with our a Glock 9mm in their shoulder holster or leg holster and thats a fact unfortunatly.
JLH
Hi Deb,
All the property managers that I know that have that product do not leave the office with our a Glock 9mm in their shoulder holster or leg holster and thats a fact unfortunatly.
Why would you want to leave Australia ? ?
Dustep::
If your renting in the Hood and buying sub 40k houses in the inner city of any big city in America, and your intending on knocking on doors to collect rent you better be armed for your own protection…
You can buy same price properties out in the suburbs and or little midwestern towns and safety is not as big of a concern.
YOu go collect rent in Detroit et Al and it is.these managers all have concealed weapons permits and its very legal.
Agreed why would anyone leave OZ to live here in the US… Just curious whats better here than what you already have.. I do not think grass is greener unless your just looking at the ability to buy a few houses compared to where you live.
These properties carry far more risk than just
Hi guys thanks so much for info, I love new York city I’ll be honest. Why I love new York I think is obvious and it’s the only place I have ever really feel at home so to speak. If this is the way I can get a foot in the door as an avenue to get a dual passport I’ll exhaust that avenue. True Australia is amazing Heath systems, standard of life but to buy a house here is ridiculous and over the top. Or aim is start by buying a few houses there and hopefully they will go up in time, then sell them off, all while living in a place I love. I know we can’t afford new York to start but that’s the aim. At this stage it’s only looking at it so all advice especially any Aussies who have done it would be great.
We have 2 online businesses here in oz and can run those anywhere in the world, so for us it s about trying something for a few years and see how we feel, always having oz as home soil.Hi Deb,
Good on you for following your dreams, I hope you get your New York !
Hi JLH,
It sound's like a tough way to earn a living, I respect the guys that are doing it !
You know what, I think it would made for a great TV doco !
Debra check out the E2 visa – http://travel.state.gov/visa/temp/types/types_1273.html there is less investment required (about 100k), compared to the EB 5. People ask us the same question all the time – why would you want to leave Australia.. I suppose for us the appeal is the opportunities, the relatively low cost of living, tons of cultural diversity, and a sense of adventure.. So far I haven’t regretted making the move.
Great thanks so much, may I ask where you did live and where I the us are you, all your reasons are mine to. Oh Im a writer also so opportunities there and people who can inspire.
I lived in Noosa and moved to Miami Beach so yeah it’s crazy and colourful, and I love every minute of it. It’s not a typical US lifestyle though by any means, they say Miami is ‘very close’ to the US, and many call it the capital of Latin America. So not sure how relevant this will be to the experience you may have in NY..
Dubstep wrote:Hi Deb,
Good on you for following your dreams, I hope you get your New York !
Hi JLH,
It sound's like a tough way to earn a living, I respect the guys that are doing it !
You know what, I think it would made for a great TV doco !
Is a TV doco ( what we would call REALITY TV like the Kardashians????)))
The logging one is shot right up the moutain from my office here in Oregon and I know the logger we used to work together back in the day…..
I have thought following court house step foreclosres would make a great reality docco…
now collecting rent with your Sig 9mm or your glock would be more in the line of SWAT of KC or SWAT of DALLAS you get the pitt bull and all thrown in as well.
Hi Jay,
Yeah a doco ( documentary ) would be like your reality TV:
THE RENT COLLECTORS !
I reckon it would be good.it would be a more dramatic show than the link below.
Dubstep wrote:Hi Jay,
Yeah a doco ( documentary ) would be like your reality TV:
THE RENT COLLECTORS !
I reckon it would be good.it would be a more dramatic show than the link below.
thats a good one!!!!!!
triptizehd wrote:I lived in Noosa and moved to Miami Beach so yeah it’s crazy and colourful, and I love every minute of it. It’s not a typical US lifestyle though by any means, they say Miami is ‘very close’ to the US, and many call it the capital of Latin America. So not sure how relevant this will be to the experience you may have in NY..HI trying to add you now..
I used to live in Texas in 2006. Thats not New York but a lot cheaper. Good lifestyle. If you want to live in the US you can get an A3 Visa for Investment. I would have to look at how much money you need it might be $500,000
Nigel Kibel | Property Know How
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Thanks Nigel IM going to check this one out.
Debra check out the E2 visa – http://travel.state.gov/visa/temp/types/types_1273.html there is less investment required (about 100k), compared to the EB 5.So Texas is still good since 2006? Where are you now?
In Australia at present. Unlike much of America Texas has held up well. Property prices have not fallen plus it has the highest job and population growth in the country. Out of the predicted top 10 boom cities predicted in the United States for the next 10 years all are of the major cities are listed with Austin at number one and San Antonio at number 4
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
I thought A3 was mainly domestic type staff – not aware of it having an investment arm, any link?
Not interested at all in living in the US, but 3% down has great appeal and $500k isn’t a huge hurdle…
Nigel Kibel wrote:In Australia at present. Unlike much of America Texas has held up well. Property prices have not fallen plus it has the highest job and population growth in the country. Out of the predicted top 10 boom cities predicted in the United States for the next 10 years all are of the major cities are listed with Austin at number one and San Antonio at number 4thanks for this..
you do some interesting work
you should email meNigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Because it seems that you are an entrepreneur it should not be difficult to fit the E2 criteria (bear in mind *I’m not a lawyer*, just familiar with the requirements).
Regarding JLH’s comments on having to be armed to collect rent in certain areas, this is so true, and such a culture shock for Aussies, most of us have heard about this story: http://www.theaustralian.com.au/news/world/an-australian-property-developer-has-been-killed-during-an-apparent-dispute-over-rent/story-e6frg6so-1226053270123
Under certain circumstances people don’t even get arrested after shooting you if they felt threatened by you, like the early stages of this case which is currently big news over here: http://en.wikipedia.org/wiki/Shooting_of_Trayvon_Martin . The guy in question only got arrested because of the public outcry that ensued after he initially wasn’t.
From a landlord’s perspective there is a program called Section 8, which is a federally funded rent assistance program (HUD is the US version of the Australian housing commission) which can mitigate some of the risks of dealing with tenants in rougher areas: http://www.gosection8.com/LL/landlord_guide.aspx
Also, there is a feel-good factor in the ability to provide housing to those who find it hard otherwise to get a decent roof over their heads.
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