Forum Replies Created
- emma171 wrote:Lol, my brother definitely has strong opinions.. But he cares deeply on them! So do I consider myself very passionate for life in general but good to hold strong to your beliefs
Thanks for compliment. No worries good to read stuff from others that makes sense.I made some good contacts and alot of new friends here. Speaking about real estate and what ever else we feel like talking about.
Hey, I am in Atlanta today and windchill factor brings me almost to your level. I SWORE I wouldnt ever be anywhere cold again… In Alaska I would go 3 weeks where the temperature didn't rise above -40… And I lived there 10 years… I have done my time in cold…. Just no snow… I think I mentioned it before,, I still cry if I see oil prices rise. I hate that I run the risk of frozen pipes here (INSULATE, INSULATE thats why I don't and wont invest above the freeze line .Any place that has cold winters with a few months of it not for me sigh.. Charlotte is 38minute flight from atlanta 3 hr drive weather is basically the same.Honestly this is the first time this winter .That is has been super cold. Growing up in NY used to the snow and cold.This is been a rather warm winter so far for us. So guess can't complain to much
That being said, never in this lifetime or the next do I believe we will have this opportunity again. I am way beyond it now but the thrill of owning a place outright? A house, that gives you over 12-14% nett return when you come from Oz where Jan Somers taught us all negative gearing????? AND the chance of cap growth?? I'll take it! I live of passive income and travel when/where I want thanks to the advice my brother gave me many years ago.. Buy anything… Just research it but get in..l this is the time mini empires are built. A few clients have newborns.. WHAT a present is that.. Lol, your first Vegas pad… Who is the popular college kid in 20 years time? Thus Atlanta and brrr and typing this in a restaurant surrounded by lovers … Just got a free drink for being the lonesome one! LOVE IT.. This whole last part so true bottom line this is a opportunity for folks in the USA and International markets today that we might not see again.. Ha HAPPY VALENTINES DAY!
And same to you.
What brought you to Atlanta from Vegas, both good markets.We are nearly out o Atlanta a few houses left then staying put in Charlotte. Will say I have enjoyed many a trips to Vegas .Some where in those trips actually made it out to look at some houses. I try not to miss UFC fights in Vegas.I might have to steal the last part of your tag line ( Please note that any information contained within should be deemed as opinion only and not specific legal, tax or financial advice. All comments are general in nature unless otherwise specified.).Seems that when I put my email, I am advertising .
talk soon
Alex
jayhinrichs wrote:Its USAcashflow.commost of his properties he post are Atlanta.. although the 25k he allegedly pillfered was for a deal in West Memphis..on a multi family which of course any one familar with Memphis would recognize most of west memphis as deep in the hood
Bout time, to be honest every week I read about some one who is going to the big house.I am glad to hear it and read it .Makes it harder to be in this business though with so much crap going on.
Glad you posted that Jay
Alex
lawsjs wrote:AlexSC – I haven't read your PM yet, but whilst I am opinionated I also use a sense of humour that often doesn't come across in print very well. I have no hard feelings against anyone here and never set out to offend. I do have a habit of offending people in the US very easily, it isn't intended and do try not to do it – I just fail a lot. Fortunately I haven't yet upset a South Central Homie:)Yes you read them because hou have as you commented back to me and I decided not to respond.Maybe speaking with Jay you will get a better understanding of who I am. Our messages were back in Jan and I decided to just stop replying. Until the other day.
I don't get offended but i just move on.
All good no worries, you sister has some really good post. As you told me about her in our PM conversations.
Well late and time for bed.
Alex
Alex
worldinvestor wrote:"So I think if you are charging a fee and truly care about your clients I am all for it.So I understand why they don't put the addresses on their web sites( If you take the time to help your clients and do everything they don't have time to). Which is still amazing to us in the States where information is easily attainable. Again different culture but Robert Kiaski spelled wrong has thousands of paid members. So I guess we do it here as well in the States".Hi Alex
some of these companies selling to Aussies will charge $4000+ once this is paid it is only then will they provide addresses, this is wrong as you need to know what the company is purchasing, why the hell would you join if you can not do basic DD on what they are sourcing.I would never recommend that anyone pay a fee upfront to anyone without addresses. If the properties are great then there is no reason for this.
WI
All I can say is I love reading your post here . I hope more people see this.
Internet is simple access for any thing you need and it is free.
Alex
AdisKay wrote:Has anyone heard of them ? Positive Real Estate. I would just like to know what i get for signing up for their mentoring program @ $10,000 !?!? worth it ? Thanks
Listen I am in the USA and I get sick when USA investors pay $3k for these guru's here in the states.So for $10k wow !What do they provide. I am sure that you can find most of that information here on this forum. Or from doing a bit of research your self.
Alex
[email protected]emma171 wrote:http://www.8newsnow.com/story/16902408/businesses-hopeful-for-profitable-2012 Yep, noticed…lol Hotels can slash yield but over 85% occupancy year round? Who are my tenants? Takes the same number of staff whether you are getting $100 a night for a room or $18 a night – those staff are my tenants. If they can pass the background checks of a major casino??? Destination marketing 101 – have a brand a big one – so big that all you have to say is "What goes on in …….., stays in …….". Number one song in 2009 – "Waking up in Vegas" – number one movie – "The Hangover"… I like an industry supporting my tenants. In October there were 564 properties avaialable in the whole of the Vegas market for rent that met my main criteria – under 80k, minimum 3br and 2 ba, younger than 1980 3 weeks ago there were 110. Vegas population = 1.9 million, Atlanta 6 million give or take. In Atlanta adjust that younger than year to 1995 and in ONE COUNTY there are over 500 properties for sale. They aren't being sucked up by home owners! Walk into a city council meeting anywhere in the US – did you REALISE LOCAL government is responsible to pay for many essential services – fire, police, ambulance… scary. Watch council members struggle with local budgets and everyone fighting for their favourite cause and police chief arguing increased crime stats etc. SCARY. In Vegas – heeeeelllllooooooooooo, alcohol, tobacco and gambling revenue. Stand on the "Strip" in Las Vegas and COUNT the police – the LAYERS of them – metro – on bikes and in cars, local, state… .ha, even visiting police on "exchanges". Strategic default is rife in Vegas but there hasn't been a population decrease – what does that mean – people aren't fleeing Vegas.. they are rotating. Each to their own but I like concrete bunkers, no pests, no grass to mow, no gutters, I have had one theft of an a/c in the first week of someone occupying a property in my time there and I love NEVER paying taxes over $900 per annum until the market goes up and even then we have a tax cap for investors. SO pro landlord. "THAT'S what you get for waking up in Vegas" Seriously though – pick anywhere, make it your own, do due diligence – I started in Vegas because I hate water, snow, termites, mold and variables I couldn't control (like grass, heating oil, HOA'S etc)… I have under $700 per annum in general in maintenance. Period. Not right, not wrong, just different. My different.Emma actually spoke to your brother PM some good and Bad we both strong opinionated people to say the least . I will say after reading each of your post very sound advice. Some of the best I have read on here.
As for choosing a markets years ago I would go to Florida and buy a few deals for my self and small group of cash lenders. Just to get out of the cold for a few weeks.
And it is 19 degrees here today in Charlotte horrible cold.
Alex
[email protected]jayhinrichs wrote:Vincent you need to talk to me… your dealing with US flippers and you will continue to go through providers…
Jay , let me know if you speak with him.
When I was in KC last year some time, and they explained their funding for international clients ( have not seen it here just in Kansas city and private money ) they are crushing people with the fee's. That is when I decided to start researching and emailing resellers from the Australia . I have built up quite a list , while taking down peoples comments and asking alot of questions.
So let me know how the conversation goes with Vince.
Alex
booge wrote:Attended my first property investment seminar this morning. It was the Reno Kings 7 Killer deals presentation. I was aware that it wasn't going to be a one stop shop to learn all you need to know, but honestly i can say i came away with pretty much nothing except being $97 poorer. I'm not interested in how these guys earn a million bucks a year in rent and it's tax free. Good for you! All i saw was a bit of "Who wants to make lots of money in one deal?" questions being posed to the audience. What am i supposed to be learning here?? I sound elitist here, but so many people sitting there seem so very desperate, almost climbing over each other to get a free DVD being handed out. I left halfway through. It made me a bit more determined to be smart about it and not one of the desperates looking for big fast profits. Has anyone attended a seminar that wasn't a waste of time??Here in the states years ago I went to every real estate I could afford or was close by. I finally came to the conclusion that I would search out seminars that could affect my bottom line. So Needless to say been to alot, used to buy any material I could. Now flip to today's time.I still attend seminars and I run them my self. Information seminars ( They are still sales pitches )I always try to find one or two things I can use to my existing real estate dealing. Here in the States alot of seminars are in Florida and Vegas.So I can make a vacation trip out of it for my wife and I. Reading books and doing the work it self seem to make up for it in the long run.
Hope this helps
jayhinrichs wrote:There ya go just what Alex and I have been preaching..If you go to our web site you will see address's nothing to hide
Jay I am seeing a different culture here.Some thing in the states we would never do.Again this is not the normal for us.If we wanted to invest in Australia, for example.I don't think you would find many that would pay fees to learn and get involved. On the flip side this seems to be the norm for Aussie clients wanting to learn about the USA.
I will say some of the groups I spoke with .They do way more for their clients then the USA sellers would do. I think the difference from what I am seeing is huge. Then again alot of this stuff we just do for our selves.( Not insulting any one just a different mind set).
Years ago when I wanted to get involved in Real Estate. I went to a lawyer office and got legal advice. Then went to an accountant and got all the future accounting advice. I then went to numerous real estate meeting to learn as much as possible. Yes I even paid for a few course back then. After that I found guys doing what I wanted to do. Asked advice went to bank and got started.There were many road bumps and lots of lost dollars. Many a frustrating nights.
So I think if you are charging a fee and truly care about your clients I am all for it.So I understand why they don't put the addresses on their web sites( If you take the time to help your clients and do everything they don't have time to). Which is still amazing to us in the States where information is easily attainable. Again different culture but Robert Kiaski spelled wrong has thousands of paid members. So I guess we do it here as well in the States.
I just hope that when you are charging the information you truly do take care of your clients. Look at for the best interest not just the dollar amount you can make with the gold rush in the states.
jayhinrichs wrote:49niners 5 super bows wins.. giants I think 3…Not sure where all this is going to go RE wise having 35 years at it…and then 08 hit.. and well everything went out the window.
I do believe those buying now will profit.
JLH
Jay one of my best friends in town here . Who got me started lost 48 of his rentals. Now I see his personal property $400k house he built up on the auction next week. It think the lesson ,there he purchased houses, but did not learn about real estate.
When the $million dollar housing market crashed in Charlotte years back.I was devastated was stuck in 3 deals. One local guy , one from Silicon valley( money man) The advice the cash lender was the best I ever heard. He said man I know we are losing out on these deals.Look at what we learned. Won't make that mistake again.Crazy how he sat and laughed.We were stuck in 3 hard money Loans .Sure you and others have lost out but look at what you know.Heck I already switched my rehabs up because of your advice.
The way I see it is me passion, energy, some know how. You ridiculous amount of know how. So pairing that up things can go far. Again the 67 houses I want to keep those deals. Need help structuring these notes for 5 to 10 years.
I think long term this is retirement package or start of one. Selling today for profit would equal huge potential losses down the road.
talk soon
Alex
jayhinrichs wrote:AlexIf this was 2007 and I still had all my bullets you would be the man..
turn and burn…..
You have a great operation and I have met your staff very nice dedicated folks.. look forward to working on some long term holds
Me too I want to keep the 67 houses and figure out a way. This is long term retirement.
Alex
Pat007 wrote:On that note: http://www.foreignnationalmortgages.com/
has anyone dealt with this group before ?After reading your post I went and looked them up. I just spoke with the lady from the site they do not provide financing for international clients on investment homes.
<moderator: delete advertising>
Good Video
But common sense approach.
Here is my system. I first go off MLS pictures. Now I bid on 100 to 200 homes bi weekly.So not overly concerned with what I need to do.I have a system in place with with where I want to be on purchase prices. If the bank counters back on my offer.I will then make a trip to the house. Now knowing their is room to negotiate.
My budget is based on on a simple walk through of the property. After doing quite a few properties and knowing prices in my area. Here is my normal routine for a new homes that we are trying to by and we know we are close on offering price
First I walk the out side of the property
From the pictures I looked at before I can usually see if AC is their or not . If not $3500 to replace
Then I like to get up on roof if possible. Again being proactive most roofs are 25 to 30 year here in the USA . If not $3k some times cheaper.Then work my way around out side viewing windows and doors. $150 window $$250 doors can work on numbers .
Inside lets go to directly to the bathrooms and Kitchens first .Checking plumbing and seeing what is needed. replace plumbing depends on number of bed rooms and add kitchen in their. Budget $2500 if all needed to be replaced. Most houses 1500 sq ft or larger. Rough price .
Then Electric panel inside and out of house. Same thing to replace all electric $2500 to $2800
These are main concerns cosmetic not overly concerned.Since majority of expenses in the USA .Seem to be electric, pluming , roof , ac and then cosmetics. Prices vary depending on area of rental house.
Just my two cents feel free to email me for some before and after videos and I can help with any questions .
Alex SC wrote:staceymac wrote:Great to hear Angela (go girl power ) When I was 23 I was chasing boys a bit too much. Didnt save enough. Like others have said just be careful anyone new to investing in the USA. To be 23 again and do it all over. Yes be very careful when dealing in USA.. I would also be very careful with teams in not just in the USA but Australia as well advertising USA properties.I know someone personally that got burnt badly in the USA from someone flogging their stuff via a website like this and spruking their wares … My friend unfortuantely didnt do the due dilligence just listened to someone who said they had the best deals of a lifetime. I would consider myself an "experienced" investor now. I have 6 investment properties here in Australia (+ PPR)Very sound advice like I have said and will continue to say spending a few dollars on education and taking a trip here to the USA .Also finding some one who has done business here in the USA from Australia is very important.
. But like you I am looking at the USA as a total novice. I am going over to San Antonio Texas in March and doing my own due dilligence whilst I am there. I am going with another group that I have made heaps of $$ with here in Australia but even though I have a really good relationship with them here in Australia however, I have realised the USA is a TOTALLY different market and I need to do my own research thoroughly. Stacey That's why I am spending a couple of $$ now to invest in my education of the USA. Last comment of you is worth it weight in gold.So very important to invest a few dollars now to learn instead of taking the word from any one.
<moderator: delete advertising>
By warning others how is this advertising. I dont see any sales or any information regarding sales. It was commenting on her post the last line and hence quoting her post…Saying she is smart by spending $$ money on education her self.
biggaz13 wrote:Ah the wonders of investing in the USA from the land Down Under…..Well hello from The USA and going to try my best to answer all the best I can.
LLC’s Setting them up is easy tax ID number can take a bit ( in the USA IRS does not work fast.) Prices will vary form different lawyers.One can set LLC up them selves but best to always use a lawyer (My opinion their )
Where to invest in the USA? Trick question what are your real estate goals then decide from there alot of good markets depends on what you are trying to accomplish. At the end of the day take inconsideration the market and the team if you so choose to work with a USA or Australian team.
USA bank account Working on that for a client out of Perth as we speak. He is not wanting to come here so if any one else on this board can chime in please do. There seem to be a way to do it. Again best for my lawyer to answer that one.
Transfering money to the USA ( Our client recently just purchased a property from Perth and all went smooth and cash deal. Email me if you would like his information so you can speak to him directly.
Finding a property manager. Then trying to find a GOOD property manager. In your investment future this is the key. References and referrals are a good place to start.
Researching then predicting exchange rates and what it all means to my investments Following the USA and AU dollar is a good start.
ITIN. Answered that in the first response along with LLC lawyer can set them up.
“War Zones” You will find quite a difference of opinions on this forum alone. I prefer to stay far away from them. Simple process for me, Can my wife who is 5ft 2 in go collect rent at 9 pm if needed. If no to that answer I usually don't invest in that area. I know that is a simple answer but war zones are not the money makers most international clients think.There is a reason the USA investors either walked away or gave those properties back to the banks.
Foreclosures Majority of sales in the USA are from Foreclosures. We basically only buy foreclosures.
Limited Liability insurance Replacement cost of the dwelling is good.
US tax time Uncle Sam demands alot from us.I just recently inquired about USA and Australian accountants so I can see what is needed and what can be done to help the process.
European debt crisis I think this is very similar to the USA problems although I am not an expert.
Its all one big long learning curve.Yes it is even for me as owner of USA investment company .I am learning and continuing to learn as the USA markets change with everything else going on here in the states.
Now. How the hell do I get my money out of a Wells Fargo bank account and into my Aussie account???? Wells Fargo and Bank of America suck just my opinion.
All tips appreciated.Hope that helps <moderator: delete advertising>
Sincerely
Alex Franks
jayhinrichs wrote:Alex,,, most investors are going to want to be your cash lender,,,, I would betJay I would say 95 % of our clients for Example Jenny that we both know from LA. They come in as cash lenders or home buyers. Eventually ending up as both with our company The model works and has been successful.That says alot about me and our company here.
Alex
jayhinrichs wrote:lease option to purchase is a pipe dream.I bet i have done 50 to 100 over the years and can count on one hand those that have bought… And those that have, their relatives cameup with the money
J ay thank you it is refreshing to see other be honest here . Lease option to me was like credit repair here in the USA . A good way to make more money of already struggling tenants.
Oh you got email please follow up with Tori and where is my bottle of wine..LOL Was nice watching my giants pick up another Super bowl Some thin to be said about us NY people..
Alex
Alex
staceymac wrote:Sorry WI. I dont seem to get any email notification from here?? Looking at Texas at the moment. Will see. At the moment I am just going to absorb as much info as I can. I have access to a wholesaler whilst I am in the USA.Stacey
'
Been Reading you post what attracts you to Texas. This is one market in the USA investment markets I have not visited but do see quite bit of investors buying their.I am in the states so been actively visiting the different markets here the last few years.
Alex
mattsta wrote:While these US cities are poised for greatness, I've just read in recent news that US new-home sales overall were the worst last year."The industry slump has kept builders from building, so that the stock of new houses on the market has also fallen to just 157,000 units"
I guess it shows that you should do research on specific US cities, as not all areas are in demand
New homes are just not in demand ( in most markets )right now with so much inventory on the market. All that post did was shine some light on a few positives .After the reality of the down housing market in the USA. Most of this information is always a good read but again just a good read.
Alex
kylermrice wrote:that was*Kyler thanks
Hoping to open eyes.
I did leave out if I sold in 30 days or less my interest payment to cash lender would be only $1800 so adding that and $4k .This property could sell for $51, 800 and every one would be getting a great deal.
How is KC doing
Alex
