Hi MTR,

I am working with an Australian multifamily investor based in LA who invests multifamily sites across the USA. This is a syndication opportunity with a major institutional investor and multifamily operators who have a transparent track record. Send me a message if you want the 27 page Investment Package detailing the current $26.6M / 320 unit opportunity in Dallas, TX. This is a Class B asset and an opportunity to pivot into multifamily.

Invest well,

John Carney

Hi Caleb,

Welcome to Australia! I’m an American who’s lived in Melbourne/Torquay for the past seven years. I’m moving back to the USA in a few weeks but have fixed and flipped a few deals on options as well as developed and built new construction in in Geelong/Torquay. You won’t be able to “wholesale” in Australia. Even with your extensive experience in the US, the Aussie property market is full of traps for the unordained. Second, you have to put some time, energy and money into establishing the appropriate entity and tax structure before you invest in Australian property, especially if you are planning on moving USD’s across pond now or in the future.

Your largest obstacle to assigning contracts/options is that the government loses out on ‘Stamp Duty’. They have dropped the hammer on these types of RE transactions. In my opinion the juice isn’t worth the squeeze.

I’m happy to share my contacts in VIC & NSW who I know and trust and will be bale to advise you further. Do you have capital to loan? Shoot me an email or drop me a line.

Thank you,

John Carney

Jade12 wrote:

I have my property manager for a few months now and it hasn’t been pleasant. I received late rental payment and very random amount every single month. Suppose to be paid every fortnight but it has never been on time, sometimes three weeks, with amount not reflecting the weekly rent.

Twice she has charged me the wrong % of fees and additional fees, suppose to be 7 but was charged 8. Told her the first time and it was the same again the next month! Recently, the tenants have trouble with the heating unit; it turned off after 5 mins. She sent me an email asking for permission to get a PLUMBER to check, saying it might need a service.

I rang the tenants to confirm the problem with the heating unit and took the opportunity to ask her about the rental payment. She said she has a direct deposit and it get paid off every single week to the agent. I have a reliable builder in that area who I just rang to figure out the issue and will send someone there to service the heating unit.

I would like to do self manage the property instead of paying a non reliable agent. Can I op out of the contract with the property manager asap? Can’t find the clause on termination the contract in the agreement. Please advise. Many thanks.

Regards,
Jade

Hi Jade,

For written record, email the pm clearly pointing out the discrepancies in your agreement, what action you would like to happen and in what time period to resolve the issue(s). I agree with @ten_burner, 30 days written notice is standard and you should have a termination clause outlining the procedure. Look in your area for a property management specific company who only focuses on property management.

Is your property manager licenced? Bad pm are the worst. Been there done that.

Good Luck!
John

jayhinrichs wrote:

My giants just beat up on the tribe this week Ouch

haha Jay…the plight of a Cleveland sports fan…BTW, I think I hit the wrong tab and reported this comment by mistake. My bad moderator.

Thankfully I married into a winning AFL team over here. That takes away the investable pain and disappointment that the Browns consistently deliver each September/ October

My name is John Carney and I’m a real estate investor and developer with 17 years of experience in both Australia and the US.
Smart real estate investment is a team sport. I believe that everyone has the ability to be a profitable property investor in either country with the right team in place. There is no better time than right now to get started.

• This reply was modified 10 years, 6 months ago by  John Carney.

Younginvestor,

I own investment property in Phoenix. It's a great market if you're in the right areas. Just because you're on a tour doesn't mean that you have to make a purchase. All US property markets have their good & bad investment pockets. I don't recommend buying a SFR in Phx for less than $50k. Don't consider any SFR that isn't a 3 bed / 2 bath minimum. Stay away from South Phoenix. Ask questions. Speak with a title agent for an explanation of how US properties are settled/closed (it's different than Australia). Make sure that you have a good feeling about your property manager, they're critical to the success of your investment! Enjoy your trip.

Hi Bevk,

FYI, it is a renters market in the US these days. 1 year leases are standard practice and the market rate will determine your rent. If you are priced correctly, you will be successful in acquiring and retaining tenants.

I am from the US and have a real estate development/ investment background. I am also a buyers advocate for US real estate in Melbourne. There are differences between the US & Australia real estate cultures that need to be understood prior to venturing offshore.

I hope this provides some insight. I am always happy to answer questions and explain how America Property Source assists our clients with US property acquisitions.

Kind regards,
John Carney