bumskins wrote:
Defaults are at an all time high and foreclosures have been artificially restricted for the last 9 months since the title fraud incidents. So don't go rushing in. Will be a long time before you see capital growth due to the credit restrictions in place.
3 to 5 years in most markets to if ever in some of the upper midwest markets…[Read more]
Hour commutes are not unheard of in most big US cities, with the price of gas though its can be an issue. Sounds like a fair deal on the surface. if you want to send me a private e mail I will pull it up on the land rolls and MLS and give you a BPO
jjrose wrote:
Hi all,Have been a bit of a lurker on these forums for about a year now, first time post however…. I'm wondering can anyone recommend a usa buyers agent (non turnkey properties) in California (Sierra Nevada area)? For background I've lived in the USA before (work visa, know the area I want to buy in inside and out), have my own…[Read more]
GreaterKCHomes wrote:
Alex, I could not agree with you more! So many PM's just completey miss the idea of actually building a relationship with tenants. Without question the most important part of the equation with income properties, is the tenant, yet to many PMs, just simply ignore it. I develop friendships with my tenants in alot of cases,…[Read more]
GreaterKCHomes wrote:
Jay,I might of mistyped that information, I am not looking for only 20% rentals, I don't want to be on a street with more than 20% boardups or just simply abandoned properties that are not be taken care of. You are correct KC has over 40% rental base, but it's not hard to find quality properties in quality areas. I look at…[Read more]
lawsjs wrote:
I didn't know it had a name, I just knew the best deal I could get was to have a happy building with no worries. I made the suggestions, they thought it was a good idea. It worked for Marriott and Hilton so it seemed worth a shot. I am VERY happy for someone else to make money as long as I can cover my costs + a bit. This way the…[Read more]
John,You have no doubt scarred the the heck out the the AU investor who has bought in KC or other upper mid west homes., I would venture to guess not many of them would contimplate half of the maladies that are common to your market, much less know how to indentify them and deal with them.I would think the chance of finding streets with only 20%…[Read more]
lawsjs wrote:
They see their future in being turnaround specialists rather than managers. A property manager with a real interest in the quality of the tenant and building. The first few places of mine they did for free – considering 5-7% gross a waste of money collecting. Variation on a theme, we now split the rent increases. I am also looking…[Read more]
lawsjsNice post:what do you mean your property manager does not charge and has bigger ideas ?Are you doing an equity share with them in lui of management fee's?I think the biggest thing to realize in PM is that its a for profit business. and no property manager can make a living and give the client that special attention and to them and their…[Read more]
wholesale competition has definatly driven up the price in FM I bought 2 homes 2 years ago for 35k each at the court house steps those will get bid to 40 to 45 today.Most off shore folks will get offered them at 65 to 100k each by the time the middle men put there profits in there and the rehabs are done.My 2 properteis ended up going to Brits for…[Read more]
ALExSC wrote:
If I was investing out the USA or any market here would be my simple tips for all investors to follow.1: Meet the TeamFind out who everyone is and understand their roles Know who are the people involved with this companyGet the facts2: Get referrals Get all the details from clients3: Property Management System( most important )for…[Read more]
One thing to point out in this example of 20k house being relisted for 60kThere very well could have been 10 to 20k in rehab done.Most US rehabbers will make 10 to 40k per property flip. Again as a hard money lender in these markets I have funded more than most of you would beleive if I quote a number so won't do that. As such I see the buy HUD (…[Read more]
Scott No Mates wrote:
From my limited knowledge in this area, the sign out the front serves a number of purposes: advertises the place is available for rent, not just for drive-bys it is for the neighbours to 'tell a friend', advertises the letting/selling agency. Sure, there may be some risk of vandalism but what's insurance for afterall?
joshuabangert wrote:
I live in Indianapolis and have been helping investors here for years, and have several here myself. One of the biggest costs you have to look at in any town is taxes, and this is one of the reasons Indianapolis has remained on top of many people's best cities to invest in, but you have to be careful-many parts of town vary…[Read more]
ALExSC wrote:
My answers are below for your questions.Property Management. I have heard that tenants can trash the place without much comeback (except loss of bond).1) Do property managers actually inspect the property (as they do here)? How regularly? That answer is going to be different for every state you buy in the USA. All property…[Read more]
blake87 wrote:
Aran, I am heading to the states in 8 weeks for 3months just wondering where do I start if I find properties of the nature you are referring to in your interview with steve is it similar to Australia when purchasing ? Is there any catches with regards to myself being a Australian if you could let us know more about the while…[Read more]
I liked columbus on the ground made oh 12 loans 8 went bad 6 sold for loses.Genreally I do not like Ohio period. the auto industry has moved south.At least in the price range these turn key guys are operating.Maybe some higher end. however never lower end you will be better off going to vegas at least you will have a good meal and room and Show.…[Read more]
Nicely done,and for the reason's you post I would never buy a home in the US that is above the freezing line, in other words has constant cold weather and subject to frozen mechanicals.. I did some stuff in detriot and it was a night mare.the other issue is buyers will look at nicer bigger homes thinking they are great, but the tenants look at…[Read more]
Looks like you Aussie's are starting to catch on to the US market. I thought it would happen one day.Lots of profitering its a major industry here in the states.
Agree with most of your post, although I do beleive a lot of the tenants do drive the homes.break ins and theft is something that the Aussie by and large just does not understand in the US rental market. And it used to be it only happened in the lower end. But that has changed it happens every where. Aircondioning units get stolen for sport.I was…[Read more]