I would think Steve would just send you one for free since you gave him a good plug.I know I take the contrarian view, however as a country it does us no good to have investors come here with these completly unrealistic expectations, and remember house flipppers do one thing, they flip for profit and as much as the market will bare.Not all but…[Read more]

The absolutly most risky US real estate investment is the Super high cap rate multi family properties in the bigger mid west cities of the US.Talking about a city in Tennesse is most likly talking about Memphis, and if you drive around memphis you will see 50% or better of the apartment complexes big and small boarded up, waiting for the next…[Read more]

Cheeves, I agree for the US resident or one that can borrow at these historically low rates.I am personally locking up a 2.9% LOC on my personal residence. Can use it like a check book to come in and out of deals.One thing I want to comment on and based on all the years 35 plus that I have been buying tax sale properties, developing sub divisions…[Read more]

Brendan,I just reread your second post and if you have to scrimp and can't afford steve's course not sure what it cost but most book hawkers charge 500 bucks or so.  You have absolutly no business buying a rental property in the US… You are risking your families financial future.Only buy a US property once you can pay cash and you have at least…[Read more]

From what your saying I would think your far to under capitolized to even think of investing in the US. Unless you did it with a managed program that assures that you will never have a capitol call for vacancy maintenance repairs etc.One the biggest issues I see with the selling of our investment properties is the gross understating of actual…[Read more]

Ian,The scenario you describe was an insider job, And it sounds ( of course I do not know all the details) that your operating agreement was flawed at the inception.  f the transfers of title from your LLC to his took place with a closing attorney or title co. The SOP's are to review the LLC documents and operating agreement which calls out who…[Read more]

May I step in here I know what your getting at.And Alex that is why the Truewholesale model rocks for the Aussies because they not only have equity they hold the Mortgage over the property and it cannot be sold with out them releasing it all the while getting their monthly income with no cash calls or down side risk.In my lending days of the 80's…[Read more]

lawsjs wrote:
My sister on LV foreclosures gets 50% down 8% I/O – as a buyers agent her clients net 16%+ so thats OK. However, I just got refi'd on a comm building 4.15% 30y 70% L/V – Wachovia. Trick was on the comm building they wanted evidence of 6 months payments in seasoned money up front… Having passed that test (which even I was…[Read more]

Nigel Kibel wrote:
Yes very interesting. It shows that what goes down does not come back up straight away. I deal in Texas because it is a very stable housing market. I think some of the markets mentioned will come up eventually. The question is to you want to invest or speculate

This is a very good question, invest in a place like texas that…[Read more]

Good post. I think anyone reading this will understand now why the promise's of 20% return are just numbers on paper and cannot be acheived over time.Even though the property has a tenant thats just the start of the 3 T's   Tenants, Trash, Toilets … Tenants stay on average 12 to 18 months so as you own these properties there are going to be on…[Read more]

I was talking to another US wholesaler of good repute yesterday. and he was saying that there is a crew out of NZ selling in AZ and they are marking the properties up 30 to 50k over market value each and over what they pay for them.I guess we can look at it 2 ways….. The investor is getting totally screwed or they are setting new highs for…[Read more]

OH come on. what horse crap…..just call a spade a spade <moderator: delete personal comment>.  who falls for this bunk anyways

There is no question that the US has some great pops

My 30 years expience dictates that arm chair investors. IE. Out of area need to be far more cautious than those that live and work in their markets

ONE THING TOU CAN TAKE TO THE BANK IS THAT 50% OF ALL US FORECLOSURES COME FROM LANDLORDS THAT GAVE UP AND WALKED AWAY FROM THE PROPERTY. AFTER…[Read more]

Speedy

The selling of junk US properties is a global activity. And just as many US companies that run the gambit of poor to out right felonias activity as described in this thread

Bottom line you get what you pay for……Just seems like sales agencies are really preying on those that want to believe in the 20k house that’s going to give them…[Read more]

Mr Davies

Please contact me I will be happy to bring charges against this person company. Need imperial data to support your claim

Alex,I have a good client in Detroit that I lent money to for years and 99% of the deals worked.Richard, I would be happy to refer him to you…. He has a sweat equity program that you may be able to get your property into that will at least get you a little cash flow with no further investment.Not to be negative however if your home has sat…[Read more]

Richard,Based on your comments if the city has tagged them as blighted there is probably some significant issues.If you want to send myself or Alex Franks the address's with zip codes and state. We can find out who the legal owner is within 5 mintues no need to pay any money to an attorney at this point. And establish what tax's may be owed…[Read more]

AH we agree on one thing strongly and thats property management.When I get to Miami I will make it a point to come and meet with you.Alex may be coming to See us in Oregon in December.I don't drink anything that is brown,, only clear

KC homes.I know you have put a lot of stats together that are very helpful for those investing in SFR rentals.What would you say is your average length of stay for your tenant's, I think this is a factor that folks would like to know and to put in their cash flow analysis, not including the unexpected vacancies from lack of payment or tenants…[Read more]

Ok mates lets hug it out

Alex. I will send you info on lots I have been buying in the s east

Also I have a reputable contact in Detroit

I personally would not invest a dime there but flip a deal i am happy to pass on a contact as you know Detroit and Wayne county is a challenge for anyone who does not live 5 miles from the props and…[Read more]