Ok, now I'm convinced you are either just pulling my leg or have been drinking….heavily..

But I'm baited to answer because it's kind of funny at this point.  SDW = SunDirtWater ….. 1 + 2 = 3. 

This doesn't make sense to you clearly because you aren't educated in finance or banking whatsoever.  To most on this forum who have knowledge, they…[Read more]

SDW:  Do yourself a favor and just accept what I am telling you.  US CITIZEN…NOT US RESIDENT….NOT FOREIGNERS….NO NO NO….NO EXCEPTIONS.  Joel mentioned recourse.  It's called PERSONAL RECOURSE.  Your other property paid in full is not leverage with them.  This is my last response to this as you will just need to let it go.  NOT HAPPENING. …[Read more]

It DOES exist.  Everything you say exists!!  But only for U.S citizens!  Not a foreigner

SDW:  Sure, I'd be happy to explain.  If anything at all, banks are only willing to give foreign national investors "commercial loans".  These loans are not condusive for single family homes.  The banks just don't have the appetite for it.  Also keep in mind that these loans are not available through your national banks ie.. Bank of America, Wells…[Read more]

The simple answer is no.  The bank will not provide any financing leverage to you if you have to use equity for down payment reasons on a different deal.  Now, if you paid cash for a house here and owned it free and clear..THEN went to a bank asking for a mortgage of about 70% Loan To Value, then it's a big maybe.  They would still want you to…[Read more]

Fixed rate long term?  Doesn't exist.  Not even on commercial loans.  You can possibly get a 30 year amortized loan but for foreigners, I don't see a bank giving more then 5-7 years on a term.  This does not include Hard Money loans.  Only a fool would invest with hard money long term.

In the U.S, foreigners from Canada only are given commercial…[Read more]

I find myself to be technically inclined but I can't figure out for the life of me how to upload a spreadsheet to show my financial model.  Any thoughts?  Freckle:  If you want to PM me your e-mail, I can send it to you and then you can share your thoughts with the forum? 

Here's a small article on the F500 company being "lured" into the area.  My mistake, it's NOT a grant, it's an incentive.  It is different:  F500 Article

Freckle:  We can agree to disagree again on certain topics.  When you ask why these companies haven't previously entered the FL market and are looking now.  Well, they were looking in the past. …[Read more]

Now isn't this a constructive thread??  Ok Freckle, let's give each other the benefit of the doubt and assume we each make good representations of our investing ideas.  I'm licensed in NJ and FL so anything I state is likely going to be partially biased toward those areas.  That said, I'm also a devil's advocate.  Candidly, I have a good business…[Read more]

Across the boards, we are not seeing much buyer fallout.  However, loans with committments will need to be reinspected prior to closing.  So it's a small setback, but not something that will trigger a fall in prices.  Inventory is way low in Northern NJ and buyers aren't afraid of continuing to buy.  Just reporting what I'm seeing. 

I expect to…[Read more]

Cap Rates are about 8% and real actual 8%.  NJ has always made good investment property being so close to NYC.  Hurricane Sandy will only increase demand in the housing market.  Hurricane Andrew and Hurricane Katrina spurned growth. 

I could have been a millionaire!!  Double edge sword because I am a die hard Yankee fan!  But at least I had something to cheer for if the Yankees lost the series.  Baltimore proved to be a tough team.  I like them a lot.  Yes, Giants got some luck.. Cardinals never die though so the NLCS will be a great series! 

I love this time of year.. Real…[Read more]

In my experience the hot deals never come to market and would never come to this kind of forum or be looking for Off shore investors per se  the agent listing them would already have his buyers lined up. And of course some could be off shore but  most domestic.

Jay: You are correct with the above.  No such properties exist on a forum level with…[Read more]

John USA Commercial –
Sorry, but I had to stop reading when you said 15-25% Cap Rates were do-able in FL.  What struck me harder was the fact that you said you work for Marcus Millichap.  I don't want to name drop here but I work with 2 of the biggest MM reps in FL, one in Tampa and one in West Palm Beach.  A good friend of mine is the analytical…[Read more]

Nigel,
I am going to play devils advocate here and go based on what I am seeing as a MF broker myself.  I broker most of my MF in NJ, but do some here and there in FL.  A few questions and comments I have and please correct me if I misunderstood:

Foreign national financing at 60% and good rates?  Please point me to those banks.  I work with 3…[Read more]

I have about a dozen OZ clients and I have a good relationship with them and in part I think it has to do with my brutal transparency.  I show them my own owner reports.  My property manager sits literally 20 feet from me.  In my 10-plex property, my rent comes in throughout the month, but I have faith in the tenants my PM puts in and I know I get…[Read more]

Invest in 2 Class 'B' properties, make about 6-8% yield in an area with good upside potential.  Safest thing going right now.  The Class 'C' market has been struggling if you can find honest property managers that can post their 12 month ACTUAL yields instead of their double digit yields on paper.  Over the last month, I have analyzed a C property…[Read more]

Hi SparkyOz…when are you going to e-mail or call me??   

Jay:
I'll say this with a grain of salt.  I am originally from NJ and ended up in FL accidentally in 2002 full time after playing a stint in the minor leagues for the Red Sox (why you always hear me pitching about the new stadium

I went to school all my life including all 4.5 years of college in NJ and studied Finance with full intentions on…[Read more]

Ryan,
Where on earth do you make enough to cover all that overhead?  I am part owner of Weichert in Hoboken, NJ.  We are only a franchise, but our Weichert corporate office owned by Jim Weichert himself is barely this big!  Do you do real estate deals in NJ?