Freckle,  whole different kettle of fish the buyer of a 5 mil plus home and the average american homeowner who's total DTI for housing is about 30 to 40%.. Those that own these homes are either the ones that pay cash so they don't get foreclosed.. Or entrapenuers who's busienss's go up and down frequently.  And a lot of Sports stars be it football…[Read more]

Are there Redwood Trees in OZ ?  if one has not seen the magnificent Redwood Trees of Northern CAlifornia coast it should be on your travel bucket list.

Its all about what are standard business practice's in a given market or demographic… And understanding how our banking works here…. the concept of such a huge amount of americans that cannot get bank accounts is probably pretty foriegn to the AU investors.  And like you said the amount of fraud is rampant.. Title companies and closing…[Read more]

I wonder if ths would work… A nominee that is state side is included as a non owning member of the LLC  and then gets the checking account. after a little time. this person resign's from the LLC and is taken off the the bank accounts signature card.. this happens all the time when business are sold or people come and go.. there by leaving the…[Read more]

In addition each state has different level of information accessable by public record search's. Especailly what you can get on line… On line searchs by and large will not be adequate to protect one against unknown liens IRS etc etc… Just for instance in Oregon Seniors over 65 can defer their annual property tax's until thier death or the sale…[Read more]

yes public record will disclose liens mortgages tax's etc.. however a title search by a title co. or title abstractor is the only  100% way that you can be sure your buying a property with clear and marketable title.

what happens in the US market is that if your buying from reputable people they will basically know the condition of the title prior to marketing and then you order the title work to check liens etc. you do not do that up front. AS all contracts in the US are subject to seller providing whats called marketable title.. Its the buyers option to kill…[Read more]

Andy the reason the Aussies can collect weekly rent is very simple.

The renters are not like our renters here in the US that are so credit challanged The Aussies by and large do not use or accept cheques their tenants all have electronic banking so they just set up electronic transfers for every friday or whatever day of the week that is agreed…[Read more]

typically liens encumberance's mortgages etc are the reponsability of the seller to pay at settlement as you allude to.  It would come out of the sellers proceeds. 

To see if a loan is assumable or has an alienation clause ( due on Sale)  you would have attorney or title co. pull the existing mortgage or trust deed from public records and reivew…[Read more]

Freckle,            Here in white bread oregon the crime rate is about as low as it gets in the US… seriously look it up.. I don't lock my car I don't lock my house at night… We build houses here and bring in 25,000 worth of lumber with no security.. In the South or in Detroit it would be stolen before you could nail it up… Not the case in…[Read more]

Andy,,  the Aussie's are much smarter than us… they charge by the week because???? well there are 52 weeks in a year.   If you rent by the month you get 12 months of rent or 48 weeks worth… Now that that light bulb went off I bet you will start charging your tenats by the week as well. Hell give them a small discount, your collections go up…[Read more]

Frekle fleas on a dogs back is the least of anyones problems in the US……. Its dog EAT dog here

Yes I have been a fellow panelist  with JP at investor events in LA… Peak is a private lender like I am, I was speaking more of a larger institutional lender..  If you look at the Scottsman guide you will see very few lenders will loan under 100k and some will go to 50k.   I think what the last post was asking for was a refi of free and clear…[Read more]

Many of the properties are selling for less than the minimum loan amount that lenders will go.. So no matter what you do you can't get a long term loan

Ok I get it overseas deals to you mean over the pacific to Australia not to the US..  There are all manner of "how to assign" class's and written articles for the US.  Be pretty tough to do without being on the scene and being able to pull the trigger quickly.

Anyone can wholesale properties, although being in AU  you will find it very difficult to do this as the local US boys will beat you to almost every deal.. What you could do if you have a significant amount of Cash is provide funds for a wholesaler…as an investor.  However extreme due diligence must be performed on anyone you would invest with.…[Read more]

Andy,  Not mold  it was feces and other garbage.  the adjuster would not go in the house. and had the bio hazard company come and clean it before he would go back in and give me the insurance quote for repairs.. the bio company took the sheet rock out.  It was the worst I have personally seen.. and it was one of my personal properties. that I paid…[Read more]

ENG               Don't look for lending requirements to make some sweeping change.. The underwriting guidelines for Owner ocuppied will stay were they are for the long term.. Heck with FHA loans its still only 3% down.. and rates are great.. You just need decent credit a Job.. The NO money down loans and bad credit loans just are not coming back.…[Read more]

Every bank in the US has to follow the Patriot act.. NO bank can just make there own rules. If they do they will get their hands slapped.

Freckle  its blackSTONE   not blackROCK… I live in Oregon but I do not partake in the Oregon state Pension fund.  It is really going to be interesting to see how this all unfolds. Blackstone and other hedge funds could be just like banks where they unload properties at huge loss's.. The Hedge funds were late to the game.. When i bought atlanta I…[Read more]