Total Members: 159,074

bevk

  • bevk replied to the topic Thinking about investing in the U.S. in the forum Overseas Deals 13 years, 1 month ago

    Nathan,Unfotunately, even in the depressed US market, 30K is just not going to get you very far, other than maybe buying in Detroit! And even if you could purchase something halfway decent there, there are factors such as higher maintenance (winter) and SUBSTANTIALLY higher property taxes – around 8-10x what we are paying in Nevada.We have…[Read more]

  • bevk replied to the topic soooo Who here ownes property in USA ? in the forum Overseas Deals 13 years, 1 month ago

    We own 3 properties (so far)All 2 bed/2 bath homes in Las Vegas.Paid approx $52-55K per property (including repairs, fees etc)Rents are approx $830-$880 per month.So far very pleased with how things are working out.

  • bevk replied to the topic Where to find previous sale price of property. in the forum Help Needed! 13 years, 10 months ago

    I don't think it's much use to know this. You can get the knowledge, but it won't have much bearing on your negotiation power IMO.Our next door neighbour bought their 3bed/2bath home in 2003 for $555K. They are currently selling it at approx $950K. Knowing how much they paid for it is not relevant to the market today because the median for that…[Read more]

  • bevk replied to the topic Whinging Tenants in the forum Help Needed! 13 years, 10 months ago

    Sounds like they're turning in to the tenants from hell.Might be worth giving them the flick as soon as possible and scout around for some new tenants.

  • bevk replied to the topic Property investing in Australia in the forum Help Needed! 13 years, 10 months ago

    Hi Robbie.I am also ex-South African and have been here for 10 years.The property market has gone through the roof here and it is pretty hard to find good deals.For example, in my Melbourne suburb the median house price has gone from 450K in 2004 to 950K in 2010.A house around the corner from me sold for 1.4m yesterday, a record for our suburb I…[Read more]

  • bevk replied to the topic Car park Space as an Investment in the forum Car parks were a rubbish 13 years, 11 months ago

    Car parks were a rubbish investment for us.

    We bought 6 car park spaces in St Kilda (at the George) in 2005.

    Cost approx $21,000 each and we had them for almost 4-5 years.

    It was the biggest waste of money for the following reasons:

    1) The average income in that parking centre was $108-$120 per month per bay before fees and charges

    2)…[Read more]

  • bevk replied to the topic Car park Space as an Investment in the forum Creative Investing 13 years, 11 months ago

    Car parks were a rubbish investment for us.We bought 6 car park spaces in St Kilda (at the George) in 2005.Cost approx $21,000 each and we had them for almost 4-5 years.It was the biggest waste of money for the following reasons:1) The average income in that parking centre was $108-$120 per month per bay before fees and charges2) Management fees…[Read more]

  • bevk replied to the topic First property purchase coming up. Help needed in the forum Help Needed! 13 years, 11 months ago

    I can't advise you on all the aspects of your question, but personally would not invest in anything that was neg geared. I could not afford to support ANY properties at a loss, but could happily have many properties which paid me cash (rental) every month, year in, year out.Some people could possibly support 1 property at a loss, hoping for…[Read more]

  • bevk replied to the topic opening a US bank account in the forum Another  possibility to 13 years, 11 months ago

    Another  possibility to consider is Paypal.Many people have a PP account which is linked to their Aus bank account.Once you have a US bank account, set up another PP account linked to this and send money from one PP account to another. Send it as Personal/Gift so there are no fees.You then draw it down into your US bank account.You might have to…[Read more]

  • bevk replied to the topic opening a US bank account in the forum Overseas Deals 13 years, 11 months ago

    If you're talking HSBC, they do charge a standard $200 for an application to their basic banking account. It's a pain, I agree.Because we Aussies don't have credit history there, you could possibly do some of the following:1) Get an updated credit history from Australia (for free) to show them. They may not take it seriously or may even disregard…[Read more]

  • bevk replied to the topic Warnings about Investing in the US in the forum Overseas Deals 13 years, 11 months ago

    Hi Runway – good posting, thanks.Not seeing the property – I agree with you in many respects and yes, we can do much of the research from our computers. However, I still think that there is a due diligence process we should go through, even if it is to hire a local inspector to look at it for us. If there is no physical inspection of the property…[Read more]

  • bevk replied to the topic My Orlando FL. property experience in the forum Overseas Deals 13 years, 11 months ago

    Sister-in-law aside, I'm not sure I understand why you would schlep all the way over to America and purchase a property that way. You can easily neg gear here and the capital gains are quicker and probably more reliable. Most people in Oz would these days would say that their properties have virtually doubled in value in the last 5 years – I…[Read more]

  • bevk replied to the topic My Orlando FL. property experience in the forum Overseas Deals 13 years, 11 months ago

    Yes, I think the initial costs associated with the purchase (even travel) can be deducted when selling.However, if you hold the property for 20 years, you have to wait a looooong time to get that benefit :)Personnally, I hate the words "negative gearing". Anything that doesn't put money in my pocket from day 1 should be avoided.  CG cannot be…[Read more]

  • bevk replied to the topic My Orlando FL. property experience in the forum Overseas Deals 13 years, 11 months ago

    Interesting post, thanks.Out of curiosity, if your sister-in-law was not the tenant, you would have to charge at least $2500 in rent per month to get a gross return of approx 14% before expenses.Is the house in an area where such a rental is achievable?

  • bevk replied to the topic MIAMI (ad)VICE in the forum Wow, this has been an 13 years, 12 months ago

    Wow, this has been an excellent read – Thanks BB and others.I really like your "go for it" attitude.Although I'm still in Australia, I have been doing masses of research and have found the property websites mentioned above in previous posts to be an great source of information.I am currently looking at Las Vegas for potential purchases and…[Read more]

  • bevk replied to the topic We have seed capital and will invest in USA in the forum Overseas Deals 13 years, 12 months ago

    Thanks Jeff for the post.I have been doing so much researching this last week, my head is spinning.Initially we had wanted to look at properties between 15-30K, but I think we will probably change our strategy a bit and look at a range between 30-45K approx.The only downside is that we need to change our initial financial strategy a bit, ie: if we…[Read more]

bevk

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