Forum Replies Created
- jayhinrichs wrote:Whatever,,
No house has no maintenance and no house has zero vacancy… any thoughts to the contrary are folly. We are spending twice a much on rentals and calls . Convinced me to no longer manage rentals. This is not the direction I want for my company.
Not to be bragedousous, however I will be,, there are very few in the US with my wide breadth of experince in multiple markets. Being one of the largest hard money lenders in the fix and flip space from 2002 till the GFC in 2008 gives me a special perspective do I know it all of course not… have I been there done that" certainly have" can I help others save their hard earned money by being cautious you bet your ass. Jay this was the point I was making that I am good about Charlotte and you been doing this all over the USA. Trying to let people know the difference between you and me. Being you been doing this for many years. I am afraid that most people don't realize or international buyers the difference from one market to the next. That we are all different similar but yet different. Not blowing your head up but common sense is the approach ones should take when buying from any one who deals in multiple markets.
Rehab is rehab… Tenants are tenants…. yes fresh rehab gets you through the first year or so… We have over 100 Sec 8s in our portfolio and not one of them does not need 500 to 1000 a year upon reinspect even in year one. Every single home one has repairs in in Sc the owner is responsible for any rehab that is needed on the home. Regardless who did the damage. Actually section 8 tenant is one of the reasons I am closing the property management down. That tenant was final straw or us.
additionally many section 8 folks lose their vouchers… they earn too much money one year and are kicked out of the program,,
people die, all sorts of maladies, to say you have never missed a day in rent is <moderator: delete language> or someone who has limited experince. ( Jay you actually made a spelling mistake LOL )These OZ investors that are on this site know the difference your not going to come on here and puff your product.
Your comments about Atlanta are way off base……
And that is why I do not hide behind a fake name handle on this forum… I use my full name first and last anyone can google me…… I never hide from any one I put my name and opionions out there for a reason. So good point Jay
And again its why I do not even put my company headers at the bottom.Oz investors are smart and they will find their own way, I am very experinced,, I use this forum to try to bring the other points of view the points of view of what to look out for….
At the end of the day I own everything I invest in, I do not flip make middle man fees or anything else I own long term every property that I buy with my investor partners..( caveot my new construction in Oregon those go to home owners) , and have full control those that invest with me, have confidence that I do this for a living and have done it for more years than most of the guys in this business have been on the planet.. Making the move to holding and building ...the flipping game is changing since the US buyer is back in the mix.
Not to mention I can type 60 words a mintues and enjoy the bantor
And I do not run anything through spell check so there.
JLH
worldinvestor wrote:I was hoping you would provide an overview on Atlanta?Cheers, WI
We just sold 4 of our 6 remaining properties in Atlanta higher then what I would have imagined. From a local buyer said he can not get anything. Then got a call from Agent in Atlanta for a short sale that went in Nov 11 . The bank just accepted it oh 19k …
I do predict that Atlanta = Dallas in the next few months and possible years. I think the attractions is heading that way. As for my Charlotte I see now all Major USA resellers are here now.
I just don"t see the values every getting that low like they were in Atlanta . Man if they did I sure would be happy.
Hope all is well.
mihovi wrote:Hey guys take a look at my comments at https://www.propertyinvesting.com/forums/property-investing/overseas-deals/4344313.Alex SC, why do you say Fannie Mae takes longer to accept offers? You are partially right – this is the case for multiple offers situations – they set up a "higher and best offer" auction and has a dead end scheduled. It takes no more than 3 days to get the answer; in many cases not more than 24 hours. When ( Jay came to town THW module we specifically bid on only fannie mae being the 90 day no transfer of title seems to be taking longer there is no bid for investors . Which is 15 days then when it comes to investors it seems there is a delay in getting answers.
You are right when mentioned about buying and holding. As the properties are the rock-bottom prices it makes no sense to get something today and resell it in 3-6 month for a minimum profit. Even most of the turnkey guys are seeing to buy and hold makes more sense the problems I see with bounce back is location. USA buyers do not move to rental areas, but majority of these areas are going to be majority rentals. So one would think Value will not bounce back to old levels.
Just relying Sooner or later, the old price levels will bounce back (hopefully at he 2008 level) and the equity will be a delight…Equity the things of myths and legends.On the topic of local knowledge, as an Australian I probably undervalued this when looking into the US market. At home no real consideration is given to house values based on the proportion of home owners in a particular street. In Australia house prices all tend to trend the same in a particular area. However, in the US the same house could be worth 50% less just one street away, and as foreclosures mount home some home owner neighborhoods are now turning into rental neighborhoods. I looked at a number of estates built in 2000-2006, where the developer in conjunction with a low doc lender turned many prior renters into homeowners. Steve thanks for the kind words. To continue on what you're saying, this is where most USA and Australian resellers will disagree with me. The newer homes built 2000 and above are still going to be in rental areas down the road, which is when you will start to see numerous foreclosures in the same area. We are now taking this area that was retail and making it rental. So the value years from now, how will this appreciate? You are 100 % correct. These are mostly track homes in states like NC, SC , Florida , Atlanta and a few other markets. I showed you the Streator house; very nice home and area. Actually scheduled to close may 8th on that one. ( damn banks can't get things done as fast as I want them to ) Same area, less than three blocks away you saw what I was talking about. Seems the areas are imploding from the outside in. So to me, cash flow is really all we are looking at. Walking in and saying we have equity or future appreciation; I just do not see it. I am sure I am going against what everyone else is saying, and selling. I could be 100 % wrong, but what you pay is what the property is worth. Equity: go to a bank and tell them you want to pull that Equity out of the property. LOL Good Luck looks great on paper, but come one.
Foreclosures are now reversing that process, these estates are gradually turning into rental neighborhoods. Not that that is a bad thing, from an investors point of view, these are beautiful modern solid houses, which will always rent easily. It is just that you have to understand how to correctly value them. Again, I am glad you took the time to drive around with me. I hope you called the other Realtor and rental signs ( numbers in those areas). This is such a great way to see if some one is full of it or if they really are feeding you a line of (C____P). That being said, we are looking for a nicer product than what you saw. Jay was the first one to point me in that direction, as well as a few others. I do appreciate the compliments, but companies like mine are learning from companies like Jay's.
My reason for giving Jay credit: Quite a few things to be honest since he has changed a lot of my ways of thinking in this business. Real estate is a business which most seem to forget.
1: Lower end rehabs: He showed me a better, more efficient way to do the rehab( Jay do you know how many sewer lines just went on us)
2: Made me think about the nicer end product which potentially could justify ( equity and future appreciation ) less of these
types of homes around. These are more of the 2000 sq ft and larger homes must be built 2000 and above. Looking for 4
bedroom 3 bath or 3 bed 2 and half bath. I believe Emma made the comment about homes 2000 sqft and above homes.3: The buy and hold we are going to be selling less homes, working on a module similar to TWH, but raising capital as long
term partners paying the loan and holding for long term.4: Building new homes and town homes ( 4 bed 2 bath with half bath) Jay was building some nice homes and had some
good things. So I am learning quick to take advantage of capital that is out their.. Another interesting thing I discovered about myself while I was in the USA, and that is I did not know how to act around black people. Honestly I was a bit scared of them. Fortunately I discovered that I was an idiot, and I really enjoyed talking to those I met. LOL So all black people are not rappers or pro football players.
One question I had to answer on my visit was.. how long did I think it would take for property values to begin appreciating. Even after looking at close to 50 properties across the market spectrum I still have no idea. All I can say is that in my opinion an investment in the market at this stage is a cash-flow play. I agree 100 %. We are looking for the properties that are priced for resell from $125k to $180k with rental being about 1 % . To me this could be the equity and future appreciation spread. Not trying to contradict myself with the equity comment.
While I was in the USA the 7.30 report on USA property scams was aired. I watched it from my hotel room. My initial reaction was OMG what am I doing here. But when I really looked closely at it I could see that it was not criticizing that value of investing in US properties but instead was a cautionary tale about dealing with overseas promoters who inflate the price of these properties and sell them to unwary investors with no regard to the soundness of the investment. Watch now most of the resellers will now base the properties not on cash flow, but future appreciation. Just had this conversation today with a USA reseller and I now see the signs of warning for the USA or international resellers to be careful . Jay, you again already predicted the SEC and securities involved in the selling, collecting fees as unlicensed agents. Hearing the rumbling now and the 7.30 report Great that ( Emma and Jeremy ) did that was also brought to my attention.
So yes I will be investing in properties in the USA. But I will only work with local experts in the areas I choose. While Zillow is a great resource I won't be buying from it. Zillow is good but again, no one is going to be an expert in all areas. I am still learning about Charlotte area as it changes . I think people should look at investing with teams and two key factors for teams. Jay has been in this game since I was kid so his know how and understanding of real estate is going to be way more than mine. For someone like me, local product is the only thing that I can offer assistance on but no one is perfect or going to be 100 % correct. No different then Cheeves , Kyler , and Emma sorry there are others who offer some solid advice. but Steve [/quote]
kylermrice wrote:Alex, I don't think you or Jay stuck to the subject of the thread and with me saying stay away from the Memphis COMPANY!!! I don't always have time to write long reply's like you and Jay. I was just trying to back up Jeremy.I could re post, but already did it for Jay.
Who is to say which market is better then another.
I didn't say anything other than one thing about the subject and i get a tyrade, lol. Come on man.
If you think you can do it in most markets, that's your opinion. I wouldn't touch Memphis, any Ohio city, St. Louis, Detroit, DC, or Baltimore. That's my opinion. Not all ghettos are the same, I'd like to hear a success story from East St. Louis, Detroit, not hearing much good stories from there for a reason. If a city is dieing or the area is just that crime ridden it isn't going to work. Why would you invest in Ohio when it was industrial driven and those jobs aren't coming back.
If i could be doing what i do in Kansas City in other markets i would be, but the grass isn't always greener on the other side. I prefer to just stay here and water my grass. I am in two markets for a reason, I'm picky. Why would i go to Atlanta to pickup something i could get in Kansas City for cheaper and that was worth more before the GFC.
man do not knock any markets here in the USA they all have good and bad areas.
Lol, really… From that one statement i was knocking
I stick by my guns and Memphis is a crappy town, you guys can have it.
Do not be so sensitive, just a moment of clarity on my part. To have a rare quite sat morning at the house with a hot cup of coffee.
kylermrice wrote:STAY AWAY FROM MEMPHIS!!!!!!!Kyler
I have to Disagree I see alot of rental markets in the USA . Who is to say which market is better then another. I feel once you understand real estate and apply a certain system . I believe you can do it in most USA markets minus west Coast and NY possible NJ. Prices tend to be higher in those markets.
The last few years have been filled for demand in rental properties from USA and International buyers alike. I have been traveling the USA with the same faces for last few years .. ( Jay is one of those same faces) , Same team from Memphis and (Alabama Mother and Son team)and Now I see the Dallas guy there as well .
So realistically you can do what you do in Kansas City in most markets. Every City in the USA has it hoods and has it pristine real estate market . Once you under stand real estate and man I am still learning . After you get to that point and make it a system and apply it over and over it works . For now Rentals = cash flow + compounded over time is real wealth. Not telling you any thing you don't already know.
Guess my point is there are lots of awesome markets in the USA Look at the people Like Jay , Real wealth Net work ,360 investments , 411 magazine out of California. The reason I mention all these names because they are all from the west coast but yet working in multiple USA markets. Again a point to make when some are in your market and some are not. They all work it just depends on the investors choice. I do see a trend for the USA investor jumping back in going for the higher end property. I think huge lesson was learned last time by the USA investors. That the lower end homes not saying it does not work but their is a reason most in that market either lost or was completely burned. Kyler , Engelo I am not knocking the low end deals. Heck I just purchased the 67 properties in Rock Hill SC .Which is rare to buy bulk for most not the norm . This package was two and half years work with alot of negotiating. This is lower end I even budgeted in off duty police offers for security . I am willing to take the risk because I know the area it is five minutes from my office. This is almost all vacant but not a war zone just lower neighborhood.
So because of that with the NC Charlotte market we are going to go up to another price range for properties. We are figuring that it will affect the numbers of properties we buy .Again this is a test for us these are the properties we want to hold. Built 2000 and above and 2000 sqft shooting for 4 bed 3 bath or larger.
So alot of of chit chat just to say , man do not knock any markets here in the USA they all have good and bad areas. What we have to do is educated on why you would or not buy in these markets. Maybe I am being a proud USA guy but we have alot to offer both the USA and International clients. Education them and showing why things work and don't work should be the mission . Oh and Just had the KC guys here for a few days( Peak funding) it is expensive but they seemed to have jump back in with interest in Charlotte NC .. LOL alot of the west coast guys knocking on the door here.
Talk soon
jayhinrichs wrote:Laws, I had a nice chat with Emma last week when I was in Vegas, lots of energy that one and very keen on what to do and not do in the us market….. I have only done business with the wealth managrs for a doctors group out of Perth, our clients in the us are very risk adverse, so they do not want to deal with rental management they are fine with a 8 or 9 cap because they know there WIll not br any bad days.. Wishful thinking , I am hoping to Keep 100 in next 5 to 7 years. I am hoping with proper planning things will work fine ( after sitting with you I see alot of gaps in our system. So like any body else I am always ears open and willing to listen. From the rehab to the actual break down of rental income. So for me growing to fast or buying to many deals will always increase the risk factor. I am just comfortable in my own shoes and don't need to be the biggest or the best.I am looking for a better quality of life over the stress of managing multiple teams. Hell it is hard enough here some times could not imagine another a few markets. Learned my lesson in Atlanta trying to do two markets at the same time
I am currently in Indianapolis and will be opening this market with one of my old Silverdo clients. Like Alex…they have 600 units under management and are looking to add the TWH model…. That is awesome good for you. I like the fact that most west coast companies shoot and put as many teams as possible under them. Long ago that was Kevin'S and JP ( peak boys ) Idea grab teams in all the southern markets and Dallas. For me staying in just Charlotte and keeping things lower key 20 -25 houses. I see this will take 30 to 60 days. I know my appetite for stress is less and not wanting to travel for ever. So making the international partners now to build my foundation and relationships for years to come. Our company wants to diversify and go into development along with commercial. For the rental properties I like the Dallas guys (Tom Wilson ) approach with nicer properties $120 to $145k k and over. We are in test mode seems to be preferred homes in most markets . The product ( homes )newer houses built after 2000 and at least 2000 sq ft or more . Looking at the Charlotte to Dallas rental markets those same house in our market will take in $1600 – 1900 a month. Seeing his properties rent $1275 – 1495.00 . So I am thinking that is the nest step for us.Off to Memphis tomorrow opening that market as well.. Next will be Dallas as long as we can make it work because of prop taxes……..one of the court house steps players in Vegas has sought us out as well, I just spent 3 days there…. so Alex that's 2 weeks on the road visiting my partners in ATL,bham,Jackson, Memphis,Indy, All great markets spoke with Chris from Memphis at great lengths this past weekend. Again maybe I am just very simple, but I see Charlotte as a market where I want to be Just buying and selling a % of homes while keeping the others. I think if Kevin was here on this Forum he would be looking at 200 houses every few months. What I found is my company and thought process is not for every one. The way I see things might not work for all.
With you being over so many markets that is awesome and sure you will do well. Two weeks on the road I can't stand to be away from home that long. Miss my wife and dogs to much , besides nothing like living in the sticks. Peace and quiet and simple life but yet close to the world if needed. I see you as the guy who has done this many time over so running multiple teams is awesome and well done. I see me as one of the younger guns in this game.So my thought process is make what we do in Charlotte great. I will still buy for myself in markets like Atlanta < Dallas( very interesting market) and Florida (love it their) just not sell in those areas. Besides what most people don't realize is every market I just mentioned can be different but yet the same. Numbers and a solid system in place is the key to make any real estate market truly work. From the Hoods to highrises it still real estate.
Then home….on the 17 th we head to ny I am speaking on front of the Iafc convention only re product. Peesonally invited from the chairman. Again awesome to hear . NY being born and raised their, I am and will always be a true NY person ( just sound southern)Those dates we are heading to Malaysia to speak 17-19 then Singapore the for 3 days. This time Kevin is going for the trip .I will make sure to spend some time playing tourist this time around .…
worldinvestor wrote:Just my two cents …I have asked my PM company to contact me in the first instance if any maintenance issues arise, either email/phone unless urgent. This should be done on a monthly statement , so you know cost of repairs and have records for long term. Answered next statement already. Again this should all be on the monthly statement and not some thing that is that hard. Ours is pretty simple but, shows the information. I can send it over. I do mean simple, but this should go out every month.
I have also requested copy of all maintenance bills so I can review these and also for ATO purposes.
OK, this is pretty basic stuff but not necessary something that I have found they are interested in doing. The little things are key ( to business not just real estate ) but solid business principles. I am learning to increase customer service staff in all areas of business.
Montly rental statements provide details of maintenance costs therefore PM company believe this is adequate, however, how would an investor know exactly what work was completed on the property etc.
I have persisted and will be receiving copies of all bills, however the other issue will take time.
This may seem trivial, however if I do not keep track of what is happening, I feel it would be very easy to be taken for a ride, I am not implying this is currently the case, however I have heard many stories where property management companies are billing/maintenance on a monthly basis. This is very important information. I call it the life of the rehab. Just as an example, ten years from now when you want to sell this property, you should have an accurate, detailed account of everything that has been maintained. This helps not only the future buyer, but you as well. I do try to keep things simple here, but this is not rocket science. I am afraid some companies do not see the big pictures. For me, I want to make sure my personal properties are getting what I call "regular check ups". This helps to keep future maintenance cost down.
Thi
So what is your experience to date with PM companies in US?? I hated the local ones around me in SC. That is why I was forced to start my own. Not my favorite thing to do, but very necessary in this business module for today's cash flow rentals.
jayhinrichs wrote:Alex,,,, I tried to buy the tequila rounds but Kevin would not let me… With an emphasis on a lot of the Us turn key companies following my leed and holding instead of flipping (ya know I was the first lol) Prices aremgoing to rise. And or those not in the know are going to be looking at the ones you and I pass on! Not too far from reality these daysJay you are correct you were the first one to talk about buying and holding more deals. Now I see the teams that can are buying and holding more deals. We are implementing that strategy as we speak. Working on putting together options to buy and hold but want longer periods 10 – 15 years if not more.
As for the tequila there are reasons I do not drink often with Kevin. For the TWH module in Charlotte we have several with Fannie mae (they just seem to take longer to accept offers.
Hope all is well and talk soon
jayhinrichs wrote:Nice Job folks….. The fact remains there are many areas of these older industrial mid west cities that have many properties that have suffered functional obsolesence and just need to be bull dozed. And many of these homes would have been had it not been the GB, AU, NZ, GE, investors buying from these spruikers from these companies that hung that big profitable carrot out in front of the US Wholesaler. Fact is these folks took the money simple as that… They know full well when they are selling a house that is beyond help or neighborhood is blighted and should be bulldozed….But the money for both the Spruiker in what ever country and there co hort in the US is just too great. I was at a conference in Atl this last week and one US wholesaler was showing properties that could be bought for 500 to 2000… per house. they need 10 to 15 k in rehab… and supposedly rent for 600 to 700… So I google it and its a waste land… Yes you can do this but at the end of the day these towns and areas have died and all the homes need to be bulldozed and return to nature….These properties are suffering from Terminal Obsolesence. Detroit has 40,000 yes 40,000 surplus homes, that should be bulldozed…Or at least before the locals burn them down…. I have personally been on this site for 1 year now, and I think we have done a service to those readers on this site,,,, Do you notice the Detroit guys are gone,, Alex and I took them to task and when they new they could not take the audiance for big dollars for low end houses with no future they left the site… So I think thats a good thing. On the flip side there are probably many that would like to invest but are confused and can't pull the trigger for fear of making a boo boo. US investor is back in the game so things are changing big time in our market here,,, If the OZ investor is not prepared to pull the trigger they are not going to get the best deals, Unfortunatly the days of plenty of inventory and the inventory would come to you is coming to an end…. So it will be even more important that the AU investor align themselves with folks they trust, these deals will not waite for your travel or holiday schedule, Retail deals will but not the best deals,, YOu need to buy those first day on the market PERIOD> I wrote in another post, that I am considering buying a Professionals Realty of Austrialia Franchise,,,, They are the first off shore company to bring real estate company to the US… the US companies have gone to other countries for years. Of Course one needs to be a licensed Real Estate broker to operate in the US.. and I am licensed in 3 states. The idea being the Aussie investor can walk into their Professionals REalty office in Sydney or Melbourne or wherever and view properties for free that are not marked up double what they are worth…( NOT PAY SOME REDICULUS UP FRONT FEES TO VIEW US PROPERTIES) they can shop for them just like properties at home… Then the PR broker deals with a franchises in the states who has a code of conduct that they ascribe too… Total transparency in the transaction IE its fully disclosed who is making what. All LLC BAnking ETC is done for one Fee 590 dollars OZ……We as franchises go through the background checks and vetting process. I think this has a lot of merit, Much better to be dealing with Real Estate professionals that are licensed then all these middle men that have nothing to lose and everything to gain if they rip a huge profit form an unsuspecting OZ inventor. One last comment do not think the Foreign investor is alone here,, Many US investors pay far too much for properties. Google Armando Montelongo he is a pitch man… He holds big events were people pay 2k to 25k for his mentorship,, then for that privilege you can buy a house for 25 to 30k more than the going market… its insane really…. And I know first hand I funded 8 loans for his students before I quit lending to his students… I did not want to be enabling this activity UGH. All spelling errors are intential as I do not have time to run through spell check. Good investing all.Jay really good points . Interesting in hearing about the Franchise idea.
emma171 wrote:WHHHHHHAAAAAATTTTTTTTT Alex how COULD you?? Okay line in the sand…actually, joking aside,Home Depot for lumber and essential supplies and materials (price) but lowes for lighting/design…. However my paint for spraying just went from home depot and i could cry….speedwall/speedcote interior eggshell…. Gone! Might end up valspar Olympic …. Waaaah. Makes a huge difference. We are looking now at us paying $1500 for the whole house 2 tone paint interior (all materials) up to 2200 sq ft….unless anyone else can get $48 a 5 gallon paint that sprays well? Sigh….Hey Emma
Sorry, LOL my little Brother works for Lowes Corporate office 13 years. My brother in law works for Lowes security 10 years. So hard not to shop at lowes, located 2 minutes from the office. ( Most of the Lowes staff knows me, well it is my second home.)
I make a point to stop in most Sunday's about 530 ish . I go to the back of each isle and see what is on discount. 2 weeks ago pick up some nice tile discounted basically enough for 2 houses for $129 . So there is always deals to be found just a matter of knowing and going to both stores. Besides buying your own materials saves alot of money on rehabs. Now knowing what and how to buy is another story.
I think this is some thing that should be shared with all.On trips to USA to make sure every one does stop at Lowe"s and Home depot and get prices on materials.Brings things into better perspective. I use the prices as ammunition when a new contractor tries to charge ridiculous prices.
Well Hope all is well.
As for paint I use the same color and just move materials from House A to house B ..My wife's cousin ( neighbor ) been painting for me for 13 years. If he does one house ( average in Charlotte 1700 sq ft ) $1500 if he does 3 to 5 .I am able to get that price down.
engelo10 wrote:Hi Alex,Going well, just came back from overseas. Spent some time in the US. Love your country. There are some great deals out there.
Engelo
Yes must admit Pretty cool place here in the USA ..LOL just got back my self from west Coast trip ( San francisco ) Malaysia _ Singapore next trip may 17th _ 23 ) So look forward to that trip. April _ Oct is usually the business travel season for me.
florra wrote:Hi… I'm new to this forum and I have to say that I've been impressed with the topics covered and the information provided. I have learned lots about the perils of investing in the US property market from people who appear to be very passionate in their craft, but there is lots more to learn I'm sure.I am interested in purchasing an investment property in the Atlanta region. I have seen many websites offering to assist with the purchasing (for a fee of course) and predicting net returns of between 10-15%. They typically provide estimates of Renovation costs, Closing Costs, Building inspections, Taxes, Rental Income, Management Fees, HOA, Insurance, etc. What they don't factor in are likely annual maintenance costs such as building repairs and gardening maintenance which I anticipate can erode those predicted returns somewhat.
I know that building costs cannot be predicted (how long is a piece of string right?) but I'd be interested to hear from those of you with IPs in Atlanta what their experience has been. Typically how much does it cost to maintain a garden in Atlanta and how easy is it to procure these services?
Not sure if you mean a garden or maintaining the properties yard. Every one will for sure give different answers. When I was in Atlanta I had to pay a landscape company $45 a cut. Most likely could have done it cheaper just did not spend the time looking. Now in Charlotte I have two kids ( one 19 one 18 years old ) on staff one for $9 hr and one for $10hr . They cut my rentals and clients rentals averaging about 35 hr week. For just one yard cost me roughly about $19dollars to cut and maintain.
When comes time to landscape ( spring and Fall) I go to lowes and buy my materials ( plants are on sale on sunday evening discount time about 5 pm ( always searching for a deal). Pine needles one of the favorite things in the South to accent flower beds. Cost are only $3.50 cents a bale. Most yards take 10 bales some times 20 . Most times I can change the appearance of a yard for less then $100 dollars. Just make sure you take the time to learn about what you are paying for. Heck I find my self going to Lowes a few times a week. Just checking out all the new stuff and ideas for homes. An adult playground for any one in the real estate business.
Sorry some one on here speaks volumes about Home Depot I am a Lowes person .
engelo10 wrote:I love it how everyone with products posts when a newbie needs some advice. I love this forum man hahahaha
How are you? Simple thought process.
Question where to buy in USA
Alex = being in USA
so simple answer makes sense to speak about USA
just picking…
Hope all is well.
Nigel Kibel wrote:http://finance.yahoo.com/news/pf_article_113083.html sorry try thisNigel Have a client here in town from this forum no names. As we drove around Charlotte today I was telling him that I would also look into the Texas market a few towns in particular. Be honest two names came up yours and Peter with those markets. I told him I feel that Texas is a market to look into for any one who is investing in the USA.
Watching this now. Awesome ..I wish more people would see what is going on with the resellers. This was happening to USA investors from California and NY years ago , then same properties are being resold to the over seas investors.
This was a good listen and LAWS and EMMA nice to see a face with the name.
Nigel Kibel wrote:I am not competing with you nor do I claim to understand every market in America. However what we have seen in Texas is very small fall in property prices since 2006 compared with nearly 50% in markets like Florida or Los VegasNigel I am with you I know Texas is one of the better markets from what I see right now. Alot of positive things going on their. To be honest I never been their . I was just having a bit of fun with you, not being an ass.
I do appreciate you advice not only in over seas post but I been following some of what you post in other areas of this Forum.
Still looking to chat some time on skype. Good luck with you Texas market I feel that is one of the next markets that the USA investor will buy heavier in the next few months . Jay I know you will disagree with me but seeing things to make me believe that market is about to make bigger news. Which is a good and bad thing.
talk soon
jayhinrichs wrote:Alex,,, Cheeves is licensed in FLA…. And I am licensed in Oregon California Mississippi and soon in Nevada… CA since 1976, Oregon 1999, MS 2008,,,, NV coming… Plus I am a licensed Mortgage Banker with a NMLS number. which is a federal licensing number…. Kevin in your office when he gets going will have to get his NMLS license as well.. Full FBI background Checks finger prints,,, personal financial statements and current credit reports are required for this license..Jay I know you and Scott were both. Was just making a point we along with you buy cash . What I was saying is most turnkey guys but cash ., When buying cash you are not flipping some thing you do not own.
As for buying and holding Our Kuwait lender is doing that every thing as 50_ 50 partners no equity sharing just letting property pay for it self. KC guys are with us on making sure we start holding more then we sell. This is every ones thought process is right now buy and hold not sell.
Yes Kevin already did FBI back ground check and is waiting on everything to come back ( local partner we looking at using for lending is already lic in NC and SC Currently working for one of the major banks doing loans. ) So lining things up to supply your program just Fannie mae deals since no selling for 90 plus days. Then the other homes for every one we are dealing with. Then what is left over we will keep and hold.
Sounds awesome about Large clients coming in for you.After speaking at event in Sanfran this past week end I am wanting to do no more then 20 properties every 60 days. Maybe even less , the stress some times is not worth it. Making a good living and enjoying quality of life is more important to me. I will never be the guy who does 100 houses month , maybe a year. Even looking cutting my travel down.If some one wants to meet leaving it as open door here to come in to charlotte.
So alot of changes and happy with the thought process to slow down. I realized volume some times diminishing quality service and that's not my attention.
Hope all is well and I am still waiting on my bottle of wine….
speedy gonzales wrote:Emma, I don't know if your posting was written "tongue in cheek" or not but Vince ISN'T a Licensed US Real Estate Agent. He is based in Byron Bay and charges clients to use his services so is just like every other Aussie spruiker on the forum and just goes to the US wholesalers for stock. Very much doubt he see's what he sells. Vince…am I wrong ??Bottom line in the USA most people like me use one lic real estate agent and we buy every single house ( CASH ) well most Turn key guys
And I do not see how any one is a lic USA real estate agent on here from Australia. Not saying one could not and I could be wrong.
Nigel Kibel wrote:There has been around $650 million spent in the US by Australian investors over the lat 12 months. Many of the suppliers in America are wholesalers. What is also important is that many Australians buy cheap property. In my opinion I do not understand why Australian buy properties at $30,000 in cities like Detroit. If you really want to invest in the United States you should travel there and at least try and understand the market for yourself. Personally I am going to look at some commercial property.Nigel
Well I am sure you know about me and my company and what I do , and which market I am in by now. I have just recently jumped into commercial my self. Picked up a 13 unit in SC and working on two 48 units. Big jump for us but commercial seems to be more of what I want to be in.
Let me know how you do with the commercial end
Thanks
