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Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 20, 2012 - 7:39 pm
engelo10 wrote:
Hey all,
I have an article for some entertainment http://www.thestreet.com/story/11370864/1/10-cities-poised-for-greatness-in-2012.html
Have you invested in any of these cities? Dont be disappointed if your pick is not on the list haha
Engelo
Engelo Yes being my company is located in Charlotte NC , well just below on the SC side . I posted the same information but just about Charlotte part last week.
But good stuff and thanks for helping spread the word about Charlotte NC
Sincerely
Alex
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 20, 2012 - 7:32 pm
engelo10 wrote:
Alex SC wrote:
engelo10 wrote:
Hi Alex,
You're right "Cashflow Is King". Thanks for the heads up.
Engelo
Engelo
How are you? Yes to me appreciation= speculation and Cash flow = cash Flow .Very simple way of looking at today's real estate market . I do agree some market will eventually come back. I am just not sold on the time period every one else is saying. I am sure I will miss out on some deals down the road because of my cautious approach. I also feel that it is a safer play in today's real estate market.So I am not trying to line up all my investment properties with that idea for appreciation. This is where diversification comes in.
As always just my two cents..
Alex
Yep,
We dont know when the market will recover, and the numbers in a deal never lie. I would suggest for every 5 cash cow properties maybe speculate with one property with potential for capital gain.
Alex,
Where do you think is a good spot to buy in the US for potential for capital growth when market recovers?
Engelo
That should, and would be the million dollar question /answer for the new year .I sure wish I could give an exact answer but again I think it is more speculation and hope then anything thing else.What we can say are prices are still dropping in some areas.
USA ,and International clients are buying for cash flow today. We are all waiting and watching. Right now I am focusing for myself and my clients is Charlotte NC and surrounding 60 mile radius. I am just not as optimistic like others that say 5 years we should be good. From everything I see , hear and feel. I think this could be 7 to 10 and that is being hope full.
What does worry me for example in Atlanta and some other markets. Is when all properties in a certain area are foreclosures. It will turn the neighborhood into a rental area reducing the resale value down the road. Who would buy that house down the road in a rental neighborhood. Now on the other hand if we do set up owner financing for these renters. This could be a different play for those homes on 5 , 10 year notes.
For me it is called diversification. We are buying lower end , and newer homes .While working with Jay Hinrichs who has a unique investor option for investing ( for us just using his program ) the NC and SC mix of homes. Our company is looking at buying as many local lots as possible for future build and development. Which do cost money to buy and hold. Again in real estate you must look for short term , and long term opportunities .With a huge emphasis on exit strategies and the what if's down the road.
So basically mixing a few different real estate programs today, making sure us and our clients are not stuck in a no win situation 5 years from now.
I know this really don't help but more of my two cents
Sincerely
Alex Franks
[email protected]
[/quote]
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 18, 2012 - 10:54 pm
First time I have ever heard of them on this forum. Curious do they charge you a fee to see the properties upfront.
Alex
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 18, 2012 - 8:22 pm
SydneyBiz wrote:
brent.spooner wrote:
is there anywhere that will lend finance at low interest rates with a 50% deposit ???? ive herd of vendor finance over there is this common??
Coupla things (including some big news): I've only seen 1 vendor finance deal recently: a guy had 16x 2 and 3 BR condos that he was selling and would finance 50% at 8% per annum. It may be that we don't see many because we work with a local (Phoenix) sourcing partner who buys bank foreclosures almost exclusively. We also work with a local finance broker who sources hard money loans, and as a general rule he can get you all the finance you want at 50% LVR and 12% annual interest. On a case-by-case basis he can very often get finance at 50% LVR and annual interest as low as 8%, it depends on the property you're buying and who is lending in that space that particular month. In each case these are 2 or 3 years loans, at the end of that time you'd need to refinance. But the really exciting news, hot off the press this month is: We now have bank finance available for Australians! After banging on doors without success for over a year, our team in Phoenix has worked with one of the local banks to develop a loan product specifically for Australians and we now have finance available as follows: 50% LVR, non-recourse, interest-only, 6.5% interest per annum fixed for 30 years There are a couple of restrictions of course, the type of properties being financed is one but the main limitation is that the bank only wants clients who intend to borrow at least US$250k in, say, the first 6-12 months. It is a fair bit of admin effort for them to set up to lend to Australians who don't have a FICO score and thus are outside their credit checking system, so they want to make sure it will be worth their while to do so. We're pretty excited about this, as no doubt you can imagine. Personally I'm going to be buying a LOT more property this year…
Would like to speak ,if you are available.
Here is my email [email protected]
thanks
Alex
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 18, 2012 - 3:59 pm
engelo10 wrote:
Hi Alex,
You're right "Cashflow Is King". Thanks for the heads up.
Engelo
[/quote]Engelo
How are you? Yes to me appreciation= speculation and Cash flow = cash Flow .Very simple way of looking at today's real estate market . I do agree some market will eventually come back. I am just not sold on the time period every one else is saying. I am sure I will miss out on some deals down the road because of my cautious approach. I also feel that it is a safer play in today's real estate market.So I am not trying to line up all my investment properties with that idea for appreciation. This is where diversification comes in.
As always just my two cents..
Alex
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 17, 2012 - 10:16 pm
jayhinrichs wrote:
In honor of our Aussie buddies,
bottle of Penfolds Shiraz would be in order
With the Giants defense you should have that bottle ready for me…and yes had to look it up and see that it is a wine from Australia, South Eastern Australia region.
Alex
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 17, 2012 - 8:21 pm
jayhinrichs wrote:
Biggest question here is:
How does a 23 year old amass 120k in cash a that young of age…. 99% of 23 year olds in the US have NO money and or are up to their eye balls in student loans.   Save the few Interenet gurus who start the next Google, And those folks are all concentrated in California.
In addition if most US kids at that age had that kind of Money they would have spent it on cars, Girls or Boys, clothes and trips. Anything but cash flow real estate
So good for you your getting ahead of the game.

Just be very careful in the US the grass is not always greener.
One thing I think anyone with any integrity can tell you on this site, is that an all in ( completely renovated house) in Atlanta for 20k that rents for 900.00 per month just does not exist, or if it does you will certianly only get the rent sporadially.
Its going to be very interesting to see how Atlanta plays out for sure. I am not of the mind of Alex to completely pull out. However we like our 2 to 4 homes a month strategy in very select neighborhoods. And a price point more in the 40 to 60k plus rehab range. Better locations mean best tenants. buy in the hood at your own peril.
Kyler's discription of 4k houses with 5k rehab in KC are only suitable for those that live there and manage the homes for a living, who cares about a 1 year warrenty, its the following years that you need to ready for. Plus the average Aussie is not going to be able to source these properties, these types of deals are no better than Detroit or Memphis in my opinion same renter pool, same issues. And by the time the Aussie buys this 9k all in Home they are paying 30 to 40k for it, not 9k.
Best of luck and keep on saving,,, your an inspiration to the younger generation!!!!
Jay
Yes to be 23 for me at that age. I was bar tending at hard Rock cafe living in myrtle beach going to school.Life was good and spent every dollar I made. Not completely pulling out of Atlanta but going to be few and far in between deals. I just rather put all my effort into the market I know better. Being I am here in Charlotte and office here just makes more sense for us.
Our Atlanta team told them to just keep doing what they are doing. If I like the houses and makes financial sense I would revisit the market .
Well this coming week my Giants will play your 49ers. Care to put a nice bottle of wine on it.
Talk soon
Alex
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 17, 2012 - 4:17 pm
[email protected] wrote:
worldinvestor wrote:
[email protected] wrote:
Thank you for the comments and question. Yes, there are many reasons. But first I don't believe excessive cost cutting can bring higher returns on investments. Our fees are very competitive in Atlanta, but I am almost certain you can always find someone charges less. The questions are what services you gonna get, and how much investment returns he can help you achieve. Our fee structure is transparent and has room for negotiation for selected clients, depending on the services requested, the level of client maintenence required, and we reward client loyalty, referrals too. We buy, sell, rehab, and manage properties. Generally, if we do everything for you, the fees are little less at each stage. But you can choose to use just some of our services. E.g. You buy, and rehab. We manage the property for you. If the property is poorly renovated, we have to do some work to bring it up to our standards, we will charge a little more to compensate the extra work we have to do. In short, I would rather to discuss specific case individually to avoid any misperceptions. Appreciate your question and comments. Regards, Mark [email protected]
Touch base with me I am out of Charlotte NC and had a team in Atlanta but going to focus more on my own back yard. I always felt it is best to stay in my own back yard and let you handle your area of expertise.
Alex
[email protected]
If you are transparent you should then be posting details on your services including all fees.
Cheers, WI
    That is not the way we conduct business. Puls, I am not sure posting details here means transparent…Anyway, we are accepting new clients at the moment, but we have a client selection process in place.    We make sure all the concerns, and questions get addressed with the clients we will work with.   Regards,
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 17, 2012 - 4:15 pm
kylermrice wrote:
@ Alex Kyler sounds good sent you a private email.

Like I had said they they are long term investments in those areas and like u i don't really plan on selling them ( for my own personal investment strategy. Before the international buying frenzy. We tried to purchase 12 homes at a time. Selling 8 to 10 of those and keeping the others free and clear. They are for long term holding . I only sell if I run out of properties or need to raise capital.
I used to leave in Florida and know the gulf coast well. Most people won't mention those areas cause cape coral and ft myers are the areas being pimped for investors. I am looking for Port Charlotte ( yes those areas you mentioned are always being sold by some one . Only reason I know about this market is my brother being he lives. Yes for florida I am buying for the same purpose I see those homes coming back down the road. and Naples for this year, for me it's all about location for fishing, lol. I'm the guy buying them on the water for 100 grand and hoping they come back to the half a million they used to be valued at. If could get a house on Boca Grande that would be the awesome. Have caught my fair share of 100 plus pound tarpon there. Fishing I went 30 miles of coast we caught a 48 pound cobia good eating fish. Wound up catching 26 grouper and snappers. 3 were keepers may is good month there for fishing not to hot yet.
As far as Kansas city i have this place down to a money making science. I don't do it on as big a scale as you do, but i do well with my properties with either flipping or keeping for cash flow. There are lots of options here, just like for you with Charlotte. For example (i'm not lieing <moderator: delete language> on these numbers either) i bought a house for 5 grand the other day and it will maybe put another 4 grand in it. My favorite thing is if i can get them with a newer roof on them, this one did. It might be a ruffer area but i do my own property management on my rentals. When i sell to investors i generally continue doing property management and give them a full year warranty on the rental. With the renter in it, i don't know of anybody else really offering this type of package. I'm not trying to advertise either i am just putting it out there for my own purposes for how much i believe in Kansas City. It bothers me when we get lumped in with Detroit and Memphis. Numbers yes We are in middle of taking down a 67 house package that will be resold down the road. So some times large numbers , still love the cheap deals. Did pick one up in Atlanta for $19k rehab $8k should rent about $850. Slowly working my way out of Atlanta and staying focused on my back yard.
Stay in touch and if you over this way look me up..
Sincerely
Alex
Regards
Kyler Rice
[email protected]
Kyler sounds good sent you a private email.
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 17, 2012 - 3:48 pm
angelarose wrote:
Thank you Alex, your information has been very helpful and genuine. I am planning a trip probably within the next 3 months so i will be sure to contact you if i am around Charlotte.
Finidng a mentor in Sydney would be great, hoping this forum will help me get in contact with some experienced US investors that reside in Sydney or even other people like me looking to invest in the next 6 months in the US. So if anyone lives in Sydney and either has invested or is looking to and would like to meet up for a coffee to bounce ideas off each other then let me know.
Thanks again!!
I actually been in contact with some of your fellow aussies. That have taken the time to come to the USA and are making some great decisions on buying properties. Send out a post with your email. Asking for any Australians who have purchased properties in the USA for a short conference call or email contact. This would be good list for any international clients to have at their disposal. Funny thing this world is alot smaller then we all think. With the information age some much information at the click of a button.
Feel free to email me if you have any questions.
Sincerely
Alex Franks
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 16, 2012 - 3:28 pm
engelo10 wrote:
maternic wrote:
G'day all,
I have been browsing through the overseas forums over the last couple of days, and getting very intrested from what ive read.
Although I need a point in the right direction regarding purchasing property in America.
Basically where do I start? Who do I need to speak to to get more information?
I look forward to hearing some advice, thanks in advance.
Nick
Hi Maternic,
Spot the successful investors on the forum and ask them questions. Im sure if you keep reading you will be able to figure out who they are. Be very careful as not everyone is genuine with there advice and there are people out there looking to make a quick buck of novice investors. I suggest you attend a few US seminars were you can learn the basics.
This is good advice as I do the same and I am from the USA go to quite a few events yearly to see what else every one else is doing in this business.
Dont sign up to what they are selling tho. In my opinion were most investors go wrong is that they focus too much on location and not enough on the people that will be looking after there investments on a day to day basis.
So true a house is a house and numbers are numbers but most important is finding a team that is compatible to your investment needs.
I have invested in Rochester New York and my investments have been performing very well due to the team I have establsihed there. My strategy is to build up cashflow before I start venturing into other locations were there is more potentail for capital growth once the US market recovers.( cash flow is king in today market if it is working for you why change it ) Once again focus on building relationships with people because they will be the ones that will make or break your investment doesnt matter were you decide to invest. That is why networking and meeting the teams who offer services is so important..
Good advice Engelo
Sincerely
Alex
[email protected]
Engelo
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 16, 2012 - 2:59 pm
David I missed this post but good questions and points
jbelmore wrote:
10% vacancy rate for Memphis. That's why you factor in up to 2 months vacant a year( this is what we have done for last few years just base income on 10 months.)
. My property manager did find a tenant in two months. Average day for us in Charlotte and surrounding areas 45 days
Why doesn't high vacancy rates result in lower rent? Must be the shift of people from being owners to renters? How do you mitigate high vacancy rate? This is why we have the problem here in the USA most of the sub-prime were renters who became homeowners. That was first cycle for foreclosures now we are dealing with people who over leveraged and expected huge appreciation. So we will have a surplus of renters next few years.
Good property manager, keep the place looking good, go for relatively higher end property – you can always lower the rent to get it tenanted. David
Yes and no. I deal with higher end and lower end but setting the price fair and having common sense will help in the cash flow rental business.
David seems like you are on the correct path and good points.
Stay in touch via email.
Thanks
Alex
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 16, 2012 - 2:38 pm
angelarose wrote:
Hi everyone, Angela I would find a local mentor or some one who actively buys in the USA close by to you. To teach you what to look for and what to look out for.

I am a 23 year old from Sydney. I have been determined to become a property investor and create a portfolio since i was 18. I work in real estate and spend all my spare time reading up on everything related to rpoeprty and investing. I now have $120k to start me off and think i would like to look at the U.S market. I have read a lot of the topics in this forum and i have to say it is quite overwhelming as there is so much information. That is how I got started reading everything I could while working at a gym . Late night no clients came in from 9 pm to 11 .So I had my head either stuck in a book or reading real estate on line.
Firstly i would need a cash flow property or two with a high rental return (examples i have seen are a 3 bed house in Atlanta for $25k with return of $900 p/month, is this really possible?) Don"t believe everything you hear. I did just buy a 4bed room 2 bath for 19k rehab $6- 8k . I think I can get $800 but long term not seeing any appreciation. Since the whole area is being foreclosed on. So yes you can buy them cheap but for me Atlanta is going to be just what I see cash flow not taking appreciation into affect at all. So I want all my purchases from this point out under $40k ( for me ) . I want any house to pay for it self in 5 to 7 years with income based on 5 to 7 years. That's just my number every one is going to be different .
– What are your suggestions of places that are like Atlanta with a high rental return for a low price between $20k to $40k (my problem with Atlanta is i feel that with so many people investing it may be hard to find tenants? and rental prices may decrease?) Yes I have been saying for some time now I expect rental prices to drop. For example pull up Lithonia , Atlanta. basically the whole town is for sale or loaded with foreclosures. So there will be many rental properties available on the market. Which in turn will reduce the rental prices.

What are some places that you feel will appreciate over the 5 to 10 years and still have a somewhat decent rental return??? I don"t think any being we are still in the cycle and things not getting to much better here.I am looking at 7 to 10 years . Really going to wait to see who gets in as next president here. If a Republican here in the states for investors could be a better long term play for us. ( not trying to preach politics by any means.) If you do some research current government and president here .Started a few housing program to help and they all have failed but little coverage on the failures. To much shadow inventory out there with banking industry a mess. So not sure how any one can really put a guess on recovery . To me they are just hoping . So I buy today for cash flow ,and don't look at appreciation just some sales man tool. ( you would call them spruikers)
Ideally i would like to spend the $120 on possibly 2 cash flow properties and another property that is forseen to appreciate?Why don't you put you money up for now. Wait to see if the financing option does come available for you. Might be a better option for you. Just make sure what ever you do set up a reserve fund per deal.I like to have $3 k to $5k put back for what if"s. Better to spend a few bucks traveling to the USA and checking things out. If you do come to the USA and stop in Charlotte send us an email. We would like to meet.
Also just to put it out there, I am very interested in working in the property investment industry so if anybody needs an experience executive assistant who has a passion for property investment, please let me know. Find a local investment group I am sure their will be plenty of people in this business who can use some one to help out.

Hope this helps
Sincerely
Alex
[email protected]
Really looking forward to hearing all your thoughts.
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 16, 2012 - 2:19 pm
kylermrice wrote:
Hey Angelarose,
Would like to network and see what we could come up with. I am in need of people with there feet on the ground in Australia. I currently have a friend from the states in New Zealand that is working his way there. As mentioned above it is hard to find good people. It's not always what u know, it's who u know.
There are tons of places to invest and make money here in the states. I concentrate on Kansas City and SW Florida (Tampa, Sarasota, North Port and Naples) since i started buying fore closers back when the recession hit in 2008. My properties in Florida are long term for me and i do cash flow rentals in Kansas city. I also do a renovate and resell about each quarter in Kansas city in our art district/urban area. Which is how i gain capital for most of my houses in Florida.
Those numbers for Atlanta also seem to optimistic. Generally with a purchase in the 20's to 40's it is a ruff area and u have to have a really good property management company and u generally will get 8 to 10 months of rent.
You could get four to five good properties in Kansas city compared to Atlanta.
Email or friend me on facebook me if you are interested in networking or seeing if we can help each other
Kyler Rice
[email protected]
Kyler very strange I am from the USA and I have not seen any one else mention Sarasota or North Port . I don't sell homes there. Just buy for my self . My brother lives in North port and is a police offer from Sarasota ( so know the area very well ). Kansas city yes good prices but some rougher areas, but numbers do make sense for cash flow. When dealing with cash flow low end just buy alot of them. I am in middle of buying 67 house package. We are looking at selling 40 and keeping the other 27 homes. Atlanta there is just to many people buying there and I don't see the long term rental going to hold up. We are pulling our team out of there to concentrate on Charlotte NC and surrounding area. I will buy in Atlanta but will be very picky from this point on.
I am always looking to network my self.
Alex
[email protected]
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 15, 2012 - 4:56 pm
jayhinrichs wrote:
Kathey is very nice she forwards public info largely like many of us
Jay very true. Your 49s Wow looked good. Now it is my NY Giants today…
Had to get up super early Sunday third plumbing issue in a row. Was at house at 8 am this morning. With Plumber who was 1hr late. Tenant nice lady been there 4 years. Seems like your rehab plan was better then ours. I told Kevin that was it. All older homes follow suit to what you said. Guess I am hear giving you credit . You are really on the ball on these older homes.
Alex
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 15, 2012 - 1:02 pm
Investingnovice wrote:
Hey guys,
Just to give you a run down on myself. I have previously invested in Kansas City MO and relatively happy with my purchase exceptions to:
– My previous useless property manager
– Minor maintenance issues with home
Although I have now developed contacts in Kansas City I want to invest into a different City and from my research Ive been informed the best two cities to buy from are Houston and Atlanta
I was just enquiring on your thoughts and if there were any other markets to look into and possibly even contacts in these areas as I found the majority of my issues arose with my first property was when I used all contacts from the middle man (Australian based). my turn key investment didnt start so smoothly however is soon to be ironed out but want to avoid similar issues had with previous property by collecting my own contacts.
Thanks
Investing Novice
Well I would say Atlanta is a good market but we are pulling our team out of their and I am from the USA . Not saying it is a bad market We are just going to focus on stronger properties their and less buying in bulk. I do prefer Charlotte and would be more then happy to send you some information about the city and what is going on here. Houston as with a few Texas markets seem to be good play as well.
Look forward to any questions you would have
Sincerely
Alex
[email protected]
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 15, 2012 - 12:37 pm
worldinvestor wrote:
Alex SC wrote:
worldinvestor wrote:
jayhinrichs wrote:
Hey you guys stay out of my county
.plenty to go around ,   though picking them up at $38,000 may be a tough call in Henry County.
Cheers, WI
So true about Atlanta alot to go around ,that is why I feel strongly about the rental market prices are going to come down. The inventory for sale now is tremendous Now more of what we call shadow inventory that banks and government programs ( Fannie Mae, Freddie Mac and the Federal Housing) are about to release. Read the link below. Our company is actually looking at pulling out of Atlanta and concentrating more on North and South Carolina. Oh it does help that where my office is located right on the border of NC and SC. Not saying Atlanta is not good just think rents will be lower and longer time for recovery then most are saying or planning. If we take retail area and turn it 90 % rental area. There are alot of things that will negatively affect those areas long term. So if and when the retail market does come back. What appeal would a retail home located in a rental neighborhood for a buyer. Food for thought.
Good read below..
http://www.bankrate.com/financing/mortgages/government-to-unload-foreclosures/
Alex
[email protected]
Thanks Alex.
Alex and Jay
Here are some predictions from Kathy F. with vested interest she would be only highlighting positives, but would be nice if some of her predictions came true.
http://www.realwealthnetwork.com/blog
Also interesting that she states the cost to build in Atlanta is around $80 per sq ft ??
Cheers, WI
This is very unique ,here is an Australian forum but yet Jay and Myself have basically met through this forum. Now you mention Kathy Feske her vice president of operation is flying out next week to meet the team we have in Charlotte and check out the office. Oh and Jay just left after checking out the Charlotte market. Most investors in the USA are just realizing what a buy the Charlotte properties are.
Now I have to disagree and agree with most of her predictions.
Alex
Alex SC
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@alex-sc
Join Date: 2011
Post Count: 585
January 15, 2012 - 12:31 pm
DHCP wrote:
He Brent,
You can certainly use your SMSF to buy property in the US which I've done with my super. For our American poster colleagues, 401K is equivalent to Super Fund. There are financial planner that can assist you setting up your SMSF, typically the fee is between $1600 to $2600.
Given the market condition in the US, to have control of your investment, it is far safe to buy single family house rather than units but it doesn't mean you cannot buy them…they are plentiful.
With regards, to two or three properties. This question is entirely depend on your strategy. I know some investors here in this forum are buying good quality home for 60K per property, a strategy. My strategy is maximizing my cash flow so I buy established properties, spent good money renovating them to manufacture my CG…therefore I can have multiple stream of income rather than one or two including multiple properties available for refinance once finance becomes available in Atlanta.
Email me in this forum and i'll recommend you to my PM who owns his company and manage properties both local and foreigners.
I used a buyer's agent when I bought my properties but have access to his entire team (e.g., realtors, attorney etc, the whole nine yards).
Good luck
401k that makes sense now . Here in the USA after the real estate , and wall street cash .We call 401 k now 201 K since most lost half if not more of their funds. Just a joke.
Thanks for clearing that up for us.Was confused on super fund
Alex
Alex SC
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January 15, 2012 - 12:29 pm
Guys alot of comments here good stuff. My company was buying and selling in Atlanta now pulling our team out of Atlanta. Still a good market. Rather just concentrate on Atlanta I just think if you are betting on financing that could be a tough play until it happens. We have been working with some different groups to be able to provide the international client with financing. What I am seeing is some limitations but there is some options in the works. ( hopefully soon )
If any one should is making a trip to the states , more then happy to show you around the Charlotte area if you choose to come here . Just some advice for the markets here in the USA. Alot of great markets and great teams here in the USA. Just make sure to visit a few of those markets and get an idea of USA real estate. I am heading to Australia for 10 days ,and just not enough time to see everything. Same for the USA make sure to give your self enough time to spend in each market you decide to invest in.
Alex
Alex SC
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January 15, 2012 - 12:52 am
SydneyBiz wrote:
Alex SC wrote:
Now this is just my preference but do the resellers or teams,. actually own any properties in those areas. Now if they are just reselling with a team from the area. That to me ,we be just as bad . I would think if these markets are so good. We would be seeing them keeping some one sell deals.
I think this is a great point and I strongly agree. I just got back from taking a tour group to Phoenix for a week. For various reasons we surprised our local sourcing partner with late notice that we had a much bigger group coming than they expected. This was only 2 weeks out from year end (which is also financial year end in the US) and they'd been letting their inventory run down for tax reasons, so we wouldn't have had enough properties available for our members. Although the short notice was entirely our fault (long story), the owners of our sourcing partner added about 15 properties from their personal portfolios to the inventory offered to our group – which really helped us out of a jam. These were properties that they'd rented out and been holding for 12 to 18 months, which is reassuring for an Australian thinking of buying them. And they set the sell prices at their usual cost + standard percentage margin, even though the market has moved up in the last year, so some of our members got especially good deals! As you say: good to see the people doing the sourcing participating in the market themselves. Cheers, Ken
Ken
That's awesome to hear. I am sure he hated to let those deals go. Glad he was able to fill the orders. That is the nature of the beast in this business. Some times you can be cash rich other times house riches. Again good to hear though…
Alex