Sorry Rosa, some of us here are experts when it comes to inner city investing….we've been doing it for years…sometimes successfully and sometimes not.  Like you, my goal is to share and also learn in the process.  Whether you make your $35k/yr or $1 million, no one wants to go through what you went through.  I'm glad Precise paid you something…[Read more]

Property management in the US is nothing at all like you would expect in OZ…same with the tenants.  Any house in any major american city under $30k is a ghetto or hood property by very definition.  There's money to be made in those areas….even complete cesspools like Detroit & Flint BUT in order to do so you MUST have someone boots on the…[Read more]

Hi Erik, I don't know much about the notes business but you'll encounter some here who do.  Happy to network….

Do you Aussies have a federally mandated lease or lease form?  Is that what RTA is?

We currently have a similar rush on oil towns in the Dakotas in the US.  Without the oil, there's nothing there and there's a rush of builders throwing up hotel/condo deals.  It's like the college towns….even if the mine or oil/gas project is successful, every 5 years or so, they'll build something newer and the rents for you unit will decline…[Read more]

We had those honor boxes where I grew up as well….used to buy our milk that way.  It's amazing to me what people will steal.  I was in a home in a very nice neighborhood in SW atlanta the other looking at a great house.  Some idiot stole about 20' of copper plumbing and the spigot at the basement shower….of course the water must have been on…[Read more]

Very well put!  Knowing your market is key to success and not knowing it is the path to failure.  I too expect rate to move north here in the states and abroad.  A lot of investors are signing into ARMs which just make me nervous.  I would rather pay a higher rate and lock it now as rates are certainly going north.  Kate, you might want to look at…[Read more]

Congrats on finding a financing source and working towards getting it closed.  I can't imagine any US lender doing a $20k loan…most have a $50k minimum as with anything less, I don't think they are making any money on it.  We do have a couple of private lenders who will finance 50% on our renovated & rented shared housing products and will…[Read more]

I can't pretend to well educated in high finance or the high jinx of wall street but I thoroughly understand how to find, repair, rent and turn properties.  Blackstone and the other hedge funds have run headfirst into what I said all along….residential single family home investing is a Mom & Pop business.  Now that they have purchased…[Read more]

I've been a life-long contractor in the states…4th generation actually….and I've done a few deals over the years where I essentially partnered with a hamstrung owner who needed to sell but needed the repairs completed in order make the best sale.  I have usually done these as a simple joint venture and we would usually agree on the "as-is"…[Read more]

My .01 worth – having over $2million in secured debt would scare the crap out of me.  If I am reading this correctly, combined you have $200k in available funds annually.  I'd be looking for deals I could get into with the cash that I had coming in.  Be very cautious with the borrowing right now.  How much in savings do you have right now?  You…[Read more]

I'm sure Canada is like any other market – if you are in the know, you can make money.  I haven't been there in years but I would think anything decent would be way too expensive to make any sense.  I'd be looking to your neighbor to the south…..USA to make decent returns.  There are several us who are very active in the states so there are…[Read more]

The beautiful thing about real estate investing is that there are so many different paths that can be pursued succcessfully…….the key is finding a niche that works for you and sticking with it.  Reading through this thread, you can pick up on strategies that works in 2006 that wouldn't work in today's markets.  Over the years, many of us were…[Read more]

Why PM the name….put it right out here so it will educate others.  I am actually with Catalyst on this one….unless you feel you lack willpower – I'd take the trip and get a little free education in the process.  The smarter you get about investing, the better decisions you'll be able to make even with the use of a financial advisor.  Let us…[Read more]

The Atlanta market is doing very well.  My contracting company does a ton of repairs for local real estate agents and houses listed in the north fulton, east cobb & smyrna/vinings area are selling quickly….and closing.  Alot of the homes we work on in north fulton are in the $500k to $750k range and the deals are closing….often with financing.…[Read more]

From what I have heard, a ton of Aussies have jumped into this North Dakota nonsense.  Some will  make some money I suppose but it doesn't make long-term sense to do these kinds of deals.  Black gold is an interesting thing and there are lots of places in the US that boomed and busted over time when the oil ran out.  I wish those investors well…[Read more]

What works in one part of the world, may not in another part.  A 10% return in the US is about unheard of except in pro formas….at least in Atlanta where my group works.  We are able to offer investor partners a 10% return guaranteed for 18 months on rented and renovated housing.  Examine each model and seller or investor partners carefully to…[Read more]

Joey, you're being offered a ton of good advice here.  It's great to have goals…truly is….but why 5 properties…….why not 20….why not just ONE!  Better yet, partner with an experienced investor in your area as cheap labor.  Like everything else in life, you will learn by doing and there is no better way to do so than on someone else's…[Read more]

Hard to say what you've done at this point with the information provided.  What's the 3rd investment property?  what's the cashflow on each of these units?  You might want to inquire with each of your current lenders what kind of deals they can offer you to consolidate all of the loans with one lender.  You can sometimes do that in the states with…[Read more]

All  great point Jay.  Our foreign partners do get frustrated by getting rents after the 21st of the month.  Many of our tenants do pay by check now but our bank usually holds the funds for 5 to 10 business days…even though I believe by law they aren't supposed to hold that long.  I think 5 days is pretty standard now.  The longer time appears…[Read more]