Forum Replies Created
- zmagen wrote:
Sorry, but not everyone who charges in advance is a crook preying on innocent naive investors.
Some of us are not wholesalers and do not flip, shortsale or try to promote properties owned by ourselves, and cannot afford to be left "holding the buck".
We, for instance, are proxies and buyers' agents, and if we don't charge in advance, we're often screwed over – people use our services to find the properties they want, then proceed directly to the seller, regardless of any contract preventing them from doing so, simply because they're overseas and they think wouldn't be worth our while (which is true, but once you collect a few <moderator: delete language>, it becomes very easy and worthwhile to pursue, so don't get any ideas
).For us in the USA charging a fee to just get information or see the houses is unheard of. There are people who charge fees to be part of groups( rich dad Poor dad ) for example. Yes lots of my time has been wasted by people just looking or wanting to do a deal but never following through. Still can't see that we would charge a fee. Not saying people are charge or crooks. Just saying for me not understand it because it is not the normal procces for us.
Now on the other hand seeing some of the Australian groups that charge upfront fees and wont give information.? Those are the ones I say Hmmmm?
<moderator: delete advertising>
Thanks
lawsjs wrote:Freckle wrote:lawsjs wrote:Firstly I don't see AlexSC as making out the US is easy – quite the reverse in fact. And he knows what he is doing as far as I can tell. LawsjS You are correct it is not easy but this is my business and my job .I also own all 3 companies. The point I was making to frickle ( yes I am spelling it that way ) is I am simple but yet run this business with hands on experience not charts and graphs..Your comments regarding the laxity of grammar and niceties of the English language are probably better directed to the US education system than Alex. My wife and I are both College educated but my spelling is horrible with out proof reading.If my wife and office staff not around ..Opps we do have quite a bit of mistakes. I usually do have the wife or the office staff check thins for me. Problem being no one keeps the hrs I do. So things do slip by spelling or grammar.
One of my pet areas of humorous US/English anecdotes (Where in the world would we be without spelling or grammar? – Why America of course!) but that in no way suggests the writer is in any way ignorant. Having proof read (and indeed read) agents writings from around the world for years I would say that quite possibly one of the least important skills an agent/rehabber would have is English boarding school literary etiquette:) So true my best friend has 3 masters degrees and I call him Dr Brown. He is a school teacher working with troubled kids. The problem is he barley makes enough money to cover his bills monthly. I know this because I just paid for his house to get rehabbed and set loan payments over 10 years for him to pay me back. Just a side note I can make more money in one month then he can in one year.I do believe his spelling and grammar are much better then mine.
Whilst not as bad as the US, one thing amazes me in the UK is how poor many of the RE ads actually are from a grammar/spelling point of view. If you can't write it correctly when you grew up in the UK and sell £10-30m properties for a living in W1 then what hope does a hard working guy from NY/SC have??? I have a marketing and staff to make sure anything I send out is more professional I grown up what we call blue collar. Hand shake and hard work is the way to succeed not the fancy world we live in now. So yes I wont be a professional writer any time soon. Financially for my self and many of my clients what I do works well. From my work ethic and understanding of real estate.
Secondly, your graphs etc above seem to show you have little understanding of my post and probably less of the US market in general. A problem a lot of foreigners have with the US is understanding volume. Vast volume. Development is far more laissez-faire in the US than Oz, indeed almost anywhere I can think of. In Australia we have a severely controlled/limited amount of development allowed – when compared to the US in particular. Our developers build hundreds at most, US developers do thousands at a time – each! Very good point most don't truly understand what is going on here like you have explained..
Which is exactly why the US has such huge boom/bust cycles – S&L and later Sub Prime. I don't think many Australians really appreciate exactly how controlled we are as a society, but particularly in real estate development the controls are many and varied. This is exactly why Australians looking at the US market should treat buying there with all the respect and care that playing with a nest of Death Adders would involve – it is not as cuddly and 'nice' as our little market at home… This is not for the faint of heart and every one just jumping in. There are alot of pitfalls that, most are missing and not understanding. Sure there is money to be made and long term cash flow for sure . Flip side a few bad deals can ruin some one. Education is the key as with anything in life ..
Lawsjs hope all is well look forward to meeting either in LA or Australia. Trying to get things worked out to get over their. My next trip is to Kuwait .Then I think Singapore and Malaysia and in between their a trip to Australia . Yes easy work LOL 7 days a week and as many hours as I can stay awake for me.
Talk soon
engelo10 wrote:http://www.cnbc.com/id/46538421/Hi all,
Just a bit of entertainment for you.
I would definetly put my money were this guys says its good to do so.
Regards,
EngeloGood read but seriously you know how many USA investment teams like myself will have this posted on their website. Media , marketing and Warren Buffet . Some how they are all tied together…
talk soon hope all is well remind when you are going to be in NY again
worldinvestor wrote:It's the package deal that's attractive, set up, accounting and legal services, pre tenanted properties, property management and lending. All that sounds pretty good. I don't have heaps of time and it would be nice for someone else to help sort that out. However, as I suspected and as people seem to confirm, there is a high probability that they're gouging on the house price. After searching via goggles the only reference to people having used their services looked suspiciously like employees.Hi Luke
I just checked out the site, I do not see fees ie setting up LLCs etc. I also do not see any info on finance, what are they charging, set up fees could kill the deal.I had a quick look at a property listed in Atlanta, as mentioned no address, no price, I can tell you just by looking at the photo I would not touch it, too old and too small, selling price $55,000, bet they got it at $16,000-20,000.
Phone them and ask them for the address we can then check it out bet I am right.WI
Yes Please do check things out before you buy. These groups that charge these fee's then try to justify them as they have taken the time to learn this information about the USA markets they are charging you for. I can teach any one this same information for free in any market in 5 days. With out being their since here in the USA it is easy and free information.
Well talk soon
Paullie wrote:This morning my suspicions were solidified.There's a war coming, war means spending.
On the subject of "skilled" immigirants, the only reason thats happening is because big business want cheap alternatives, and they are cheap for a reason.
Well since he has failed at most things he said he would do as president . He will be fighting for re election perfect time to say how we are going to not take this from Iran . We as a USA nation can not afford another war…
worldinvestor wrote:Hi FreckleWho really knows what will happen it is crystal ball stuff, however to mitigate the risk with US properties I would buy properties well below building costs.
I am purchasing for 30% of building costs, purchasing properties no more than 10 years old, facilities in good sub-divisions, all positive cashflow to cover all outgoings. Throw in the correct structure and should be on the right track to sell when the market turns, sell the lot.
If you are fortunate buy while the Au $ is at all time high $1.07-1.10WI
WI
WI Love the mention of the The crystal ball theory thought I was the only one who had one of those.LOL I was using that comment in my seminars last few years. When some one would ask when is the right time to buy. My crystal ball is broke and just would not work.
What I do is focus on cash flow and hope for appreciation. Currently working with Charlotte Section 8 office to secure all or most of our houses section 8 for now.
Then the north side of Charlotte nicer homes looking at owner financing those .Dumping our Atlanta homes to just get out completely .
Again Atlanta a good market just learning to stay focused on one area only.
Talk soon
Alex
worldinvestor wrote:I think you'll find this a completely different can of worms. You did ok because it was pure luck not because you understood what was going on. Punts like that are always 50/50. In fact all investment bets are 50/50. You could look at an investment, toss a coin and you would probably have little difference in potential outcomes. The trouble with 50/50 betting is that statistically you never get ahead in the long run because statistically you will win as many as you loose.
While investing is always a gamble of sorts the informed investor is trying to make their wins bigger than their losses over the long run even though their win loss ratio may be evens
Freckle
That's what they all said then….. funny that.
Gotta love it…. thanks for the tip, I am pretty sure I know what an investor needs to do.
….its absolute luck, give me a break, I have been investing for over 12 years, retired 5 years ago from my property investments, I call it passion and commitment and sticking my neck out when I see an opportunity.I don't waste time analysing charts/stats to death I'll leave that to the aspiring economics lecturer.. or whatever. I find markets that are suitable to either flip, build house and land packages, DAs, buy and holds.
WI
That is awesome I am just hoping you make a stop in Charlotte when you come to Atlanta ( margaritas are just as good here as they are in Atlanta )
xdrew wrote:Bravo Alex SC !!!!* Thunderous Applause *
Dont worry .. Freckle is an expert. He's also someone who titles me a snob without reading my posts. And goes on about a doomsday without actually riding to evidence on it. Even if you examine his graph it extrapolates a short term movement onto a long term US schedule. Which is like saying by training a stallion you are guaranteed a Phar Lap. Its a non sequiteur.
And wait for it .. he's RICH ! Cos he said so. And thats worth listening to.
As Henry Ford said in cross-examination about his sanity .. WHY DO I NEED TO BE AN EXPERT .. I HAVE PEOPLE AROUND ME WHO I CAN ASK FOR AN EXPERT OPINION.
In other words .. there will be people who will take the majority of opinions and decisions by 'experts' on here and make their own fully qualified opinions to go forward. They shouldnt rely on a single opinion. Accumulated factual evidence provides a degree of truth regardless who it comes from.
As I said before .. I wont debate Freckle .. he knows too much.
Me either LOL but thanks for the support …It is simple to read through the genius type.
Well off to work in the garden time to get things going here weather here in the SC starting to warm up. So here come spring.
Sorry freckle I don't have a chart to show the amount of tomatoes, versus the amount of cucumbers, I will grow with the amount of mulch versus soil…
Freckle wrote:Alex, forgive me for raining on your parade but lets put you and your business in perspective. It is not raining actually nice out today. Storms passed right by…You and your partner are long time RE agents with skin in the game so to speak.Not an real estate agent took the test but never got my license. I just happen to have a solid system that attracts clients.
You run a fairly significant sized business, 2 principles, 10 staff (including property management) and various subcontractors. As a not so small agency you're doing 1 – 6 properties per week. A pretty average turnover for a business of your size. Yes we do okay and great staff.
Your business doesn't translate into anything meaningful for the punters on this forum. Comparing RE agencies to investors is chalk and cheese. Well since I am investor full time, dabble in wall street and real estate , as well as a couple other businesses not related to real estate. I would say I am the perfect person to ask advice for.Since it is working for me and my clients alike…But do like cheese with my wine..if you don't mind
The risks I see for punters here investing in the US is self interested spruikers like yourself pumping a market as if its a dead cert to make an easy buck. My days start at 430 am as most on here met me know and end most nights by 10pm. Not a easy day any where in there. Spruiking love it , we call it educating but no offense I should not be teaching some one as smart as you.
The way you describe your easy going relaxed approach suggests a certain level of easiness for want of a better word No some great people in society well American society were very simple people . The language I see here from interested parties suggest a certain level of naivety. They're dead keen to get over there make their fortunes but most just haven't thought it through nor fully understand the risks. If you would take the time and open your eyes before you mouth you would see I preach some of what you mention already. That I would not buy with out coming here ,and then I would be very hesitant even then. Again who am I to judge ignorance is ignorance no matter what country you are from.
Your the guy selling shovels during the gold rush. Yeah mate there's gold everywhere just dig. By the way shovels are $1000. Been buying an selling real estate from $10k to $5m for quite some time in this day an age I think we call them experts in the field. If I was to have brain surgery would I go to the new doctor or the one who has been doing this for years and years and is successful. Him go see if you can find that in your stats. Yes I go nice restaurants with my wife because I hear and see they have good food.So if some one mentions the good food are they spruiking me , or saying some thing is good and worked for them. Again food for thought but it is funny.You seem to be clashing with quite a few people on here. Hmmmmmm
Sincerely
Freckle wrote:worldinvestor wrote:I will do what I always do and will chase the cycles, the next to move will be Sydney, we are not too far off and I will be loading up.Freckle, I am only interested in what is happening on the ground, not interested in analysing this stuff it has been done to death.
WI
Those who are selling will be relieved to hear you're in the market to 'load up'. The Freckle
Hey All
I have kind of stayed away from the forum board last two weeks. Been crazy with clients in town and Yes I actually go see all our houses but enjoy this line work.
All this information is great for some one who is information buff. Maybe I am just a plain simple person. True story I buy and sell homes quite a good business.I do this with out every putting on a suit and barely wear shoes.Ask Jay if you don't believe me.I hope some of you Aussies are not offended when you see my video's of the homes we are redoing.
So don't be offended if you see Tatoos and bare foot guy walking around in this homes. Yes that is me simple person.
Now back to the real estate LawsJS Your post of abit back of dealing with one guy who knows his market that does not doe 100 homes a month .Some thing like that is very good and makes more sense to me today then ever before.
WI you are correct all this information come on really do we need it .I can do this for some thing totally different like wall street can pull horror stats and stats that will make me jump in. Media is the biggest sales tool in the USA come on Buffet saying single family homes are great buy.How many guys here selling homes jumped and put that article on their web site.Great sales pitch though.
Here is what I can say for Charlotte NC and surrounding 60 mile radius for homes . I am buying homes weekly , rehabbing and renting. Some weeks more deals then others. I speak to people wanting to rent weekly others looking for work. So instead of all the information from the super smart guys. I am for sure not one of them simple simple simple . I can say USA economy is not coming back any time soon . American middle class are hurting and renters will be here for a long time. Lower income people will take another hit with higher gas price or seniors on fixed income ( please no Iran war USA can not afford it). The ones like me ,Jay and ,WI Emma , sorry know their more but tired brain syndrome .Are seeing opportunity and will cash in on it.
Jay ( I know you are out their I realize you and my real estate partner are more alike each day ) bigger and bigger projects and numbers. For me I like 15 to 25 homes every 60 to 90 days. The way I see it is buying that amount , getting them fixed , getting them rented ( please stop buying vacant homes folks )unless you ar know your whole sale team very well . Different situation then. To me true turn key rented rehabbed and cash flowing and then adding to portfolio. I see to many basing this on numbers and numbers. I also make a good living at this and slowly rebuilding my portfolio based on a few deals at a time.
Again just rambling just want you guys to see this real estate situation we are in from a simple mans perspective who is out their every day getting dirty and on the job .Not a from a desk and information junky that is not actually doing what I do. Not saying you don't freckly just saying I do . I don't sit behind a desk ( well I do when I get back to the office most evening ) most of my time is crawling under homes or looking at new homes. Meeting renters , talking to contractors and inspectors, handy men, realtors , new investors, new wholesalers, basically any one who is involved in real estate.
And I do this wearing blue jeans and black t shirts mon- fri. Hope you all find my humor along with my simplicity
worldinvestor wrote:Hi Alex
I am not ready to pack up yet, just makes it damn harder to find those little gems..cheers WI
Hard to say anything with out getting spammed but since I am pulling out of Atlanta and have some inventory left over.
I am going tried to send you a private messagelook forward to speaking
jbelmore wrote:Alex I agree the relationships are critical and particularly with overseas investments. But what if your clients met you first in their country (assuming you came out for a tax deductible holiday) and did most of their due diligence on the internet? Cheers DavidDavid
I would say at least one trip out tio the USA at some point to view the properties you purchased even if some one did meet some one like my self in you country. That coming out and seeing you investments once a year. For me these are the planned trips so far in the different markets.Singapore and Malaysia will be there 4 times this coming year. Australian 4 times London 3 times Kuwait ( brand new market for me so one trip for now)
Talk soon
Alex
jbelmore wrote:Alex I agree the relationships are critical and particularly with overseas investments. But what if your clients met you first in their country (assuming you came out for a tax deductible holiday) and did most of their due diligence on the internet? Cheers DavidBeing I am heading to Kuwait in next two weeks and London then Australia ( looking at Perth Sydney, and Adelaide.
That is the way most of our clients have found us, is me meeting them in their country being I like to travel ( so that helps ). I was trying to set up an australia trip but quite a few poeple to meet. Maybe you guys can help me with that. Need to be in Sydney and Perth and then Adelaide and also possible Queensland. Trying to figure about how many days for each market .
So looking forward to that trip.
talk soon
Alex
Luke B wrote:Thanks Alex, but yes spider senses are already tingling. Someone somewhere must have thrown down some money to these people. How did it go?For USA do some simple searches on , Google, Zillow, Trulia and a bunch more free sites. Sure you will get some feed back on who used them from this forum.
Luke B wrote:Hi all, Looking at some first time investment in the us. I've been looking at a few different companies and at a superficial level us invest seems pretty good. They give you access to a bunch of accountants and lawyers, And set up your accounts and llc. They do charge 4k per property though they come pre tenanted. They've been hesitant to give me any addresses, which is worrisome. I'm concerned they're adding a hefty margin to the property price. Thoughts, comments, experience?Be very concerned when one charges up front fee to see and find the same information that is free to find and no addresses of properties …Red flags should be jumping out for you.
jayhinrichs wrote:Let's stir something upReally ,stir some thing up. LOL
worldinvestor wrote:Only two U.S. metro areas have had increases in home values since the peak of the housing market in 2007, and they're both in Texas: Houston and San AntonioHi Peter
I don't bother too much with what is written about the US market or OZ for that matter, stats are always rubbery at best.I am interested in what is happening on the ground.
In Atlanta the houses I have been purchasing over the past 6 months at around $37,000-48,000 – Sadly am now looking at paying $65,000-70,000. There is fierce competition and now we have owner/occupiers jumping in.
I am with Jay on this one, I see this market jumping, still some great opportunites if you purchase the right property in the right area but I believe this window of opportunity will not last too much longer.
WI
Seems Jay was not the only one pulling out of Atlanta at the right time. Once prices starting bouncing upwards I already packed ship and left. Sorry just thought I would throw that at there.
Hope all is well …
kylermrice wrote:Where is the next event at?There is another event bigger pockets is having not sure of dates some time in march. Might go just to get away for a few days.
jayhinrichs wrote:To turn key or not turn key that is the question…..Shoot its a tough go when your doing it on your own from across the globe…
Of course the price of these homes if you lose all your money its no big deal right.
I really think the inner city US properties can only be successfuly run by those that live and work it.
No way it can work trying to build a so called "team" but prove me wrong.
At the end of the day we ( the United States of Amercia) love all this cash influx into our HOODS… Lord knows the US investor will not set foot.
JLH
I do agree 100 % their is a reason the USA investor already lost out on this hood areas or walked away.. Not this is being pushed off to the next buyer.
Amazing
Alex
labradorinlove wrote:I’m really confused and need advice.I’m selling a house in Phoenix AZ. The buyer is getting an FHA loan to buy it.Apparently the lender will not approve anything above what a market appraisal says the house is worth.The first appraisal done came in at $66K. They also said I needed to install an AC unit, install a dishwashing machine and fix some damage to the side of a wall outside for the loan approval.Then the agent (the seller agent) who was representing me quit due to personal problems. I have now been left to try and close the sale myself.I should mention I’m a 25 year old female residing in Australia who knows very little about the ins and outs of real estate sales.Now I’ve been told a second appraisal has been done and the market appraisal states the house is worth $60K. So the price dropped from $66K to $60K and I still am required to fix the above said repairs.I’m not sure if I’m being taken for a ride and I’m really not sure what to do. I am pretty keen to sell the house as it’s just a burden to me.Can anyone please help with advice?I was going to recommend you Speak with Jay Hinrichs he is more well versed in many markets then most of us American real estate guys. He is on this board and be good one to see if he can help you.
Sincerely
Alex
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