HuMungus wrote:

Freedom, impatience can be costly as it is an irrational emotion and there is no place for emotion when investing in property. Property is a business, nothing more, nothing less and all decisions have to be made on sound due diligence and grounded reason.

Before you buy anything you have to know what you are going to do with it, rent, rehab and rent, flip, demo and rebuild.. there are plenty of options, then if it goes pear shaped what is your ‘Out’?

When I started I attended a Commissioners Sale for 13,000 properties. I had spent the previous 3 months researching and ended up with a short list of around 75 properties. I hit town and started driving, after 2 days the list was down to about 20, had photos of each and a description, I knew if they were vacant or lived in and I had price ceilings for every one. I ended up bidding on 6 and won 2, the others broke my price limit.

This is what ‘due diligence’ is all about, it takes time, money and a lot of work on the internet.

For us it was 2 years before we bought anything and even doing everything right, one went wrong. Included in that 2 years was getting our structure in the US right. Now, having put in the time we can move on what ever market we want to. Look at it like a degree… 3-4 yrs of graft before you even draw a juniors wage.

There is a very old saying: “Fools rush in where Angels fear to tread” and the Fool and his money are easily parted.

There are quite a few people on this forum that can give guidance, use then to your benefit and invest wisely, knowing why, how and with whom

Great advice here.

All good things take time.

I wouldn’t be rushing in, especially when it comes to investing in the US.

Its a different world here.

Have been living and breathing the market for 2+ years now and still haven’t scratched the surface.

Thanks and have a great day.

No one wants to reply on my other post with the awesome deal I just bought??? lollol

Independent appraisals are the way to go.

If you can buy at market or slightly below from a turnkey company. I would consider that excellent buying. Especially when investing from out of country.

Thanks and have a great day.

PeteJackie wrote:

Hi Everyone,

I am a long term PI.com member however haven’t logged in for a couple of years.

I’ve been reading this with interest as we are looking at investing in commercial properties in the States and are currently in negotioations on one in Memphis.

Can anyone recommend a bank/ financier who will lend to Australians? We set up an LLC and bak accounts in the States over a year ago as well as American Credit Cards.

Any assistance would be greatly appreciated.

Pete.

Great to have you back Pete,

The overseas section has been missing action for some time now.

Thanks and have a great day.

zyrine69 wrote:

My hubby and I are considering purchasing condo units from the Philippines. We would like it to be rented out to make extra cash. Or if it does not work, gamble with appreciation and resell? Is this worth the trouble? We’ve started looking at properties already on DMCI Homes. Any thoughts?

Hi,

I heave heard there are great opportunities in the Philippines and other countries like Thailand and Indonesia. As Nigel mentioned, there is quite a lot of corruption there and it would be difficult to tackle.

They make you pay your way through a chain of people before you can finally get what you want.

Like with everything, if you have enough interest and spend enough time, I am sure you will get the desired result.

Thanks and have a great day.

Hi Colin,

Thanks for your post and mention.

Unfortunately, I am not competent enough regarding the Atlanta market and have no contacts there at all.

Our group has ties in Kansas City, Ohio, Florida and upper state NY.

We have already assisted quite a few investors with similar issues to your in these areas.

I am very sorry of your bad experience with US investing.

ps. After we last spoke I spent a good couple of hours trying to google this Corey Fueller guy. Looks like he cleaned his name up quite well our of any online searches.

Maybe someone else can better assist in Atlanta.