I remember when Steve started buying in Florida.

It sure great timing.

The overseas section is still pretty dead compared to what it was :(

I have been all in here for a while now. What a privilege it has been to living and breathing the market first hand for the last 2 years.

Daylight is comin but me don’t go home hahahahaha (Jamaican accent) lollol

Live and breath real estate. Be patient and don’t jump into anything.

Ask questions of investors who are where you want to be. The only cost you will incur is coffees and lunches haha

As the saying goes “Make a passion an obsession and you will never work a day in your life”

• This reply was modified 10 years, 6 months ago by  EngeloRumora.

jacobapple wrote:

Hi All, I thought I would give an update on my experience so far. I now have 2 properties and this company along with Ray White (they are managing the properties) are really on the ball. The first property was renovated really nicely and I was provided with updates throughout the process. It rented within 3 days of completion for $1150 which was 50$ more than quoted. They even gave me a free upgrade to Granite in my kitchen as they managed to get some cheap. I have been really impressed with the way Ray White has been communicating with me and Sandy has been fantastic. The second home is under renovation at the moment. They have also got me bank finance on the first home so that I could buy the second.

I was asked by Inprop to give an honest review on this site and I am doing so. I really think that this company has the investors best interest at heart.

Thanks,

Jacob

Congratulations Jacob,

I wish you much success with your investing in the future.

Thanks and have a great day.

Long John wrote:

<div class=”d4p-bbt-quote-title”>jayhinrichs wrote:</div>
Long John… I have always had problems with this site… spell check would not work.. What specifically are you alluding to if you don’t mind sharing. ( I know see that spell check is auto and is working that should make me look better) this was a very vigorous site and very active a few years Ago

From a technical point of view this site has never been that great. Like you said the previous version had a lot of functionality problems that never got fixed even after many requests. This new version isn’t any better and may actually be worse. Implementation has been a disaster in anyone’s book. If McKnight ran his empire the way he runs this site he’d be broke inside 12 months. There’s a limit to peoples tolerance with these things. McKnight’s attitude doesn’t help either. If you’re not telling him what a great guy he is and kissing his hand he soon gets the pip and if you criticise him he tends to spit the dummy and chuck you out. He forgets that people come here to commune with others in the game not pay homage to his efforts. Given that this is his primary hunting ground for his product marketing you’d think he would put a bit more money and effort into providing a quality experience. He might be getting a bit too comfortable in his old age.

I was just assuming that the AU investor has turned off from the US market and I think that for a few reasons. 1. your dollar dropping. 2. Hedge funds in US buying up hundreds of thousands of homes and targeting 5 to 7% returns… thereby taking inventory from US wholesalers 3. those that still are in the Turnkey game in the US the yields have gone down substantially.. Although yields from most marketing companies and providers are best case scenarios and rarely take all expenses into account. 4. And or as Nigel so eloquently eluded to many got snookered into buying low end Ghetto houses with promises of 30% returns and not only did those returns not materialize they lost money. Then they tell friends and the next thing you know sales go way down which is what I have seen. There are still deals out there and there will always be deals in every market condition.

I tend to think the US market has run its course for the time being. The general flow of things is you get the risk takers come early adopter types who have a go first. They are followed by the herd as the first wave solve most of the initial problems then you drop into a steady flow for a while until you have maximum interest. After that you see a steady waning as market fundamentals swing against the foreign investor.

You are left with 2 types of investor after that. The early adopters who got their feet on the ground and are making a buck and the rest who got it wrong and either lost a dollar or two or who are trapped with non or poor performing properties and can’t extricate themselves without a bit of pain.

There’s also an awareness I think that the punters are becoming very hedgy now as they watch the elite pro players leave the field (such as yourself). Guys like Nigel and Engelo may actually do alright through this next phase as punters realise that employing expertise will pay dividends in an increasingly difficult market.

Hey Long John,

Thanks for the mention.

I remember reading a couple of years ago other getting mentioned as the key US guys like Jay, Alex, etc…

No my name pops hahaha

To be completely honest with you I have not received and inquiries or business from any “punters” from the forum lol. We have assisted a few investors that have been burnt buying through shady operators and that’s pretty much it.

A few investors did come forward and wanted “something for nothing” for which I happily offered my time and assisted them but decided to stop as it was not feasible with having my own real estate business to run and with being in the office 100+ hrs per week my time has become increasingly valuable to me. SPRUIKER ALERT http://www.engelorumora.com lollol

Our group has been doing a lot of business with institutional buyers in the US and we have established some amazing relationships with individuals that have open sales channels world wide.

It took over 8 months of my PA and myself hammering down emails and calls to open these doors so our model now is no more dependent on selling just to Australian investors or single investors, although this is my most favored way of doing business.

Thanks for reading and have a great day.

jayhinrichs wrote:

Kyler just to set the record straight here.. David has never referred anyone to me for any reason. And I do not sell any rental houses to any investors. Other than I sold my interest in TWH and the 350 homes we owned to my ex partner in Oct. I build new homes and sell them to homeowners and I lend money to US investors short term and I have a 5 year product that I lend to Aussie and other foreigners.

And I don’t need anyone “pimping anything for me”… I do quite well on my own thank you very much.

The reality of the situation is this is just another perfect example of investing in Crappy neighborhoods … and with less than capable Turn Key companies.

As anyone who has ever read anything I have posted here knows I strongly do not recommend these low end rentals for out of area investors… for the above reasons.

the quality of the people that work in these areas and price ranges and the tenant base just is a nightmare in so many occasions.

If you live and work in the Hood you can make it work… but thinking your going to buy these low end dogs and make them work from thousands of Kilometers away leads to a lot of heart ache and lost money.

The reality is people that work these markets last a couple years then move on leaving the investor holding a sub par asset at best.

I

Jay,

Still need to finish that call??? lollol

Are you in Hawaii yet? lol

Just moved to Toledo so you need to stop by when your on your way to NY. Found a great place for lunch to take you haha

It has a “Don Salieri” feel to it and you think an old mafiaso hitman will pop up at any moment haha

Thanks and have a great day.

Thanks for your post Steve.

Well done on your Florida portfolio. Florida has been the hottest market in the US for a while now.

There are some amazing opportunities in Ohio at present also even tho it still has a stigma about it.

Thanks and have a great day.

Thanks for your post World Investor,

Well done on your Atalanta porftolio.

I believe I have seen quite a few of your posts on Somersoft.

I am seeing some great opportunities available in the Midwest at the moment. Low priced properties in solid areas offering some fantastic returns.

Market hasn’t really moved much in the Midwest.

Great deals can be found in every market even if its booming or busting.

Atlanta has seen quite a bit of growth and well done on getting in 2 years ago.

I hope the Aussie $ stays low until you get all of your funds back home. I believe its at 94 cents today. It was under 90 not too long ago.

All the best :)