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- Nigel Kibel wrote:I am being a bit tongue and cheek regarding the 8 mile comment however a market with half the population since 1950, a 29% umenployment is not a great place to put your money. I deal in Texas which to me is far safer
I believe you can make money anywhere. However I have not seen to many good people on the ground. I have been involved in the US market since 2005 and even ran a real estate firm in Texas. However you may be great operatorsHi Nigel, I see that you have been dealing in Texas for numerous years. I am just at the start of my US property investment journey and from the research that I have done I can see that Texas has the most stable housing market in the US. Are there banks/financiers that will provide finance to Australians? What sort of LVR do they provide? How strong is the rental market? Thanks in advance.
Texas Cash Cow Investments and Cash Flow Kings wrote:mattnz wrote:Thanks for this, very interesting reading. I find the fact that Texas has had the highest growth since 1991 and hasn't crashed to be very telling. Texas has survived the GFC very well, with reasonable house prices that didn't go through the boom-crash cycle that many other states went through. I have read that Texas has a law that the minimum deposit for a house is 20%. This has stopped the huge credit growth that has occurred elsewhere, because people have had to save for a deposit before purchasing. The saved deposit also ensures that they can afford to pay off the house. This should be a key learning for Australia and other countries to ensure that their housing market remains affordable and doesn't crash in the future. The availability of 95%, 100% and even up to 110% lending is a common theme in the markets that have crashed, not only in USA but internationally.<moderator: delete advertising>
Population Growth. Is it increasing or decreasing ? Today 1 in 12 Americans call Texas home. The current rate of migration to Texas from the rest of the US is larger then the migration to New York in the 30's. Dallas is increasing more then any other area in the US and this year expects 1, 069,000 new residents and an additional 6,500,000 in the next 10 years.
Cost of Living Index. Dallas sits at 28% of gross income which is the 2nd lowest in the US. Houston TX is the lowest in the US.
Jobs's Growth & New Jobs Creation. Is it increasing or decreasing ? Over 70% of jobs created in the last 5 years were in Texas. Dallas is again leading the way in jobs growth.
Property Values. Are prices appreciating or still depreciating ? The medium home price in Dallas increased 7% last year.
Market Motivators. What is driving the market. (i.e. low supply and high demand)
Inventory of existing homes on the market. Not new home sales…what is the average days on the market
Medium Income V Medium Home Price. Dallas went from an average income of $90,000-00 to $98,000-00 and homes prices went from an average $137,000 to $150,100 last year
So what does Texas have that makes it so different ?? At it's simplest….don't overtax, don't overspend (state budgets), keep regulations to a minimum, avoid letting unions and trial lawyers run riot and display a huge neon sign saying "Open for Business" Explains why DFW has more corporate and regional headquarters then any other US city including New York.
Texas Cash Cow, your information is very helpful. Where did you find this information from? I am looking at buying an investment property in Texas. Do you know where I can get information about the rental market i.e vacancy rate?
SuperSleuth wrote:This thread is a little old now but let me bring members up to speed with Trent Richards (previously CEO of he Insight Group). As some will know Trent liquidated the Insight Group of Companies in early 2008. Later in 2008, Trent still had some money tucked away from the Insight Group, as he purchased a helicopter from the USA. See this You Tube clip he has posted
[ http://www.youtube.com/watch?v=iHaoG8mCAJ4&feature=fvsr ]He disappeared for a while but then popped up again in Darwin <edited> in the background of a new company called "The Illumination Group" After that <edited> he set up another company <edited> and called it "Property Finance Investment'
[ http://www.pfinvestment.com.au/ ]I have also seen conclusive evidence that Trent and his father [Tony Richards] are heavily involved in this company now as well.
[ http://www.myusaproperty.com.au ]A few days ago Trent posted this testimonial about himself which, in my opinion, <edited>:
[ http://trentrichards.wordpress.com/2011/01/28/hello-world/#comments ]You will notice how he makes a lot of his experience and successes with the Insight Group but fails to mention that it went broke owing a lot of people,( including staff) large sums of money. <edited>
You really need to do some serious digging before getting involved with some of these companies as the real directors and decision makers can be lurking in the murky depths within, and not easily distingushable at first glance.
Super Sleuth, what sort of conclusive evidence do you have that Trent and his father are involved in myusaproperty?
