quick numbers on the 9.5% product

50k purchase price say KC rent 700

payment needed to pay in full in 5 years would be 860.00 a month.

so with T&I 150 a month

maintenance 100 a month min.

Letting fee 50 a month over 5 years.

management 70 a month

negative on payment 160

So over 5 years this will cost you 520.00 a…[Read more]

Alex SC wrote:
Jay My partner and I are both in the office if you have a free moment . Our office number is 803-325-1925. Now the houses in Charlotte we sell are priced  about $ 85k and under. Very similar to Atlanta properties .The next level of homes  the we like to offer are priced from $110k up to $150k .Much nicer homes and in well e…[Read more]

Yes I am licensed in CA. OR. MS and have been for 30 plus years.

You are clearly acting in the capacity of an agent based on the descriptions of your activity, I mean if anyone could help find negotiate properties between parties why even have a Real Estate industry and the associated Licenses.

In fact the FBI and State AG’s are aggressively…[Read more]

I do appologize I was probably too strong in my comments. It just so happens I had been getting e mails from an AU investor who is having major issues with a detroit property all the same scenerio.The nice turn key company that sold it does not call them back tenant paid for few months and left. Problems getting the rent from the property manager,…[Read more]

Are you a licensed real estate agent out of curiosity? Or just holding yourself out as a consultant.Not sure why investors that take the time and money to fly to the states just do not hook up with good RE brokers, At least for the ones that want to be hands on.Is it not done that way in AU….

Perfect, thank you.At that price what is in it for you, given that cash flow and such most of the Nice US turn key guys would be selling that for double what your talking about and pocketing 20 to 30k profit. not to mention the layer of marketers that go along with it.Now do you own this as in did you close on it already with your own funds and…[Read more]

investlongterm wrote:
I know there's a lot of people who beat up on Detroit investing, and for good reason. There's so much crap in Detroit that you can buy for $1,000 it's ridiculous, and unfortunately so many morons in Detroit have taken advantage of people everywhere and that has left a bad taste in their mouth, and frankly, I don't blame…[Read more]

True cost of owning rentals in the US  would be much appreciated.Since we are on the subject would you be so kind  to delinate what you think true cost are. I will start. And for this exercise figure buyer paid cash so no mortgage debt service. bought a house that will rent for 700 gross which is average.These are monthly and yearly  I will st…[Read more]

itsandrew wrote:
As far as taking time off goes you can also top up with LWOP (Leave With Out Pay) if you need to.  So long service not essential if you have a few pennies tucked away.  Very cosy situation indeed.

You guys have it made in the shade,,,,,, We encourage you to travel to the US spend your money freely and help our feable e…[Read more]

Good to know I am working on a fund specifically to lend to Aussies that want 50% financing.We are toying with the following program and am wondering if anyone would care to give me some feedback wether this would work 8% interest  some points plus 3rd party settlement fee's lenders title insurance etc.  Fully amortized 10 years.I for one do not l…[Read more]

PQ wrote:
I have two cash-positive 3br homes in Texas. Bought $55K, rehab around $5000 each, rent $800/mth each. Property management very good. The high Aussie dollar means the $ stay in my US bank account though so the mortgage gets paid from my full-time wages – never thought I'd become a currency trader!.Was a lot easier to do than I e…[Read more]

when the market goes south like it has Condo's bear the brunt.. IE Strata fee's which we call HOA fee's and in extreme cases there are not enough Strata ( HOA) fee's to effectivly run the building, there are some very real horror stories for those invested in Condos and for sure banks that ended up with them.If I was looking at a Condo I would be…[Read more]

I am sure you will hear from him soon, he is selling properties in Texas. Not sure what city as Texas is a big place

Nigel Kibel wrote:
If you are going to buy in the US do not dismiss people who can help you. However you should go over and satisfy yourself as to how good the deals are. We encourage people to Travel to Texas to look at markets and to do your own due diligence. If you are not prepared to go over at least once you either have money to waste or…[Read more]

Portpirate wrote:
Rick,i was refering in the eighties to aussie farmers taking US loans which turned against them when the dollar took a plunge.  Nothing to do with 19% interest rates here.Some economists say the Australian housing property market will crash.  I dont believe this will happen, but we are seeing a slow decline in prices.  I ex…[Read more]

lawsjs wrote:
JLH "…I grew up in San Francisco Bay area, and there was a very famous columnist for the SF Chronicle named Herb Caen, he wrote an editorial type collum on daily life in SF he called it Bagdad by the Bay before we bombed the crap out of Bagdad… And at the end of his life and collum he would constantly compare SF of the 50 and…[Read more]

lawsjs,Your in a different league of invetments, There is virtually no talk on this forum of Multi family, or investment grade US real Estate much less west coast. Its all the same mid west south east single families that the first time investor can get into and feels comfortable with.pretty impressive if you took a building and doubled the rents.…[Read more]

lawsjsIts the same in the US, if you have a property with virtually perfect management and tenants your buying what we call Investment grade real Estate…. In the letting of office's its called an A property as compared to B class and C class then D and lower which is properties in the Hood.Examples of investment grade properties are, Top flight…[Read more]

LawsjsYour exactly right this is why I created my company the way I did. Our property managers are our partners in every sense, they have ownerhsip interest in each house. You would be amazed at the difference in our portfolio is now compared to 3 years ago when I had to deal with multiple PM's in multiple states.Instead of dealing with all the…[Read more]

There are as many Australian middlemen involved in these trasnactions as there are Americans and everyone is taking a slice of the cake in the transaction.. I have seen many a HUD in my lending days that had 3 to 5 participants in the wholesale to retail flip sale to the end buyer.. I think this is well documented on the sale side.I think the…[Read more]