Forum Replies Created
Emma just popped back on .. every thing is rosy here.
HI Emma… are you in Vegas or Atlanta ?
I’m in the process of selling my private US portfolio and bringing the money home.
I’ve made excellent growth returns, but the aggravation of dealing with rental management companies and the revolving cost of turning properties when tenants leave (or are evicted), has been a constant frustration.
Finding a good rental manager in the US is even more important than finding a good deal on paper.
– SteveSteve its really not so much the property management its the tenants… What AU investors do not realize is the lifelong tenants in the US are a pretty transient bunch.. they know the system and by and large could care less about the owners properties.. The only way to mitigate this is to buy UPPER end properties in the best markets.. of course those only return 4 to 8% at most.. So the attraction is not there but that is what most US investors are happy with and properties of this quality usually appreciate over time.
But there was some good plays over the years.. I bought 54 homes in Atlanta at the bottom and doubled my money.. but then again I live here and I don’t buy through any buying service.. I buy right from the auction companies.
Were I saw AU investors get totally hammered was buying low end crap.. thinking because on paper it was suppose to make money but not understanding the tenants are completely unrealiable and a constant problem. even Super man could not manage these folks
Peter this exact same thing has been happening to West coast of US investors for the last 25 years.. same concept.
houses in California are negative cash flow… they cost 500 to 1 mil you can buy a house in the mid west for 30 to 70k
price of a car here in the US.. west coast investors buys it.. has no clue as to how tough the rental pool is does not understand the demographics … IE they have money to invest so they never lived or mingled with these folks that rent.
the rush from AU to us has basically come to a halt. because of the reasons you mention and the exchange rates.
back in 2010 when I first got on this site there would be hundreds of posts a day.. now your lucky to get 2 in 2 weeks there is no audience to speak of any more on this site.. I fyou want to talk RE get on Biggerpockets in the US.. lots going on there.
Nigel the vast majority of this crime as you can see is black on black crime.. drugs , gangs , etc etc. the number one killer of a black man in the US under 30 is gun shot…
ziz what if you can explain is triple tax and triple holding costs… prop tax in ATL is about average for the US.
in Texas its sky high and can triple other markets.. say Toledo were the Aussie Dingo has set up shop
Emma are you still in Atlanta or back in Vega will be in Vega this weekend.. if you there let catch a cup of coffee
and yes We are looking for wholesale deals.. mainly those that folks bought and they have had a bad run with and just want to dump
We then go in rehab and resell to US investors.. best JLHMJ 23001 you cannot trust anyone that’s the bottom line. I can’t tell you how many AU investor contact me off line and have lost all their money. find someone you know and can trust and can eyeball then move forward.. do not trust anyone on line.. me included
Ivan
your going to love this.. they are going into the RE guru business IE teaching others how to invest. their program cost 20k US.
one of my associates here in Oregon calls me all excited ad wants to know if I would split the cost.. I have to tell him no I don’t think so.. then they talked to the owners and Said Jay Hinrichs says no… Crickets on the other end LOL
Nigel I never said you were sitting in your rocker… I was commenting that its far and few between where some one 6k mile away is going to simply invest in the US fix and flip and make 50k a deal on 100 to 200k props..
Last 24 months I have funded about 150 fix and flips in Orlando alone and no one makes those kind of profits unless they have the tool belt strapped to them and do the work themselves… 15 to 20k is more realistic
He is a private individual who invested in the US markets.. and I helped him recently sell off his properties. he has a good understanding of the US markets and will be a good resource for AU investors.
Ivan,
Yes please send me contact info … and we will do our best to come up with a cash offer.
I have closed on 15 properties in the last 30 days from AU sellers wishing to get a quick exit from the US market… I think it had to do with their super funds needing to liquidate … some type of timing issue.. Not sure though as I never actually spoke to them.
We will be creating a AU website and have my AU partner there to talk to folks.
We will buy them all cash as is… No fee’s at all to the seller….
Also nothing in North Dakota.. I remember posting on this site that one simply cannot buy a hotel room in the US.. I think many got taken for a ride on that scheme.
anyone who has been on this site for any number of years has known that Nigel and I have had out differences
in this case I agree.. 25 to 50k flipping florida sFR is not realistic for an off shore investor.My business is funding local fix and flippers.. some make that kind of money but they live there and do it personally.
your not going to do that sitting in your Rocker in AU./. that I can pretty much guarantee.. cautionNot to be rude however you folks have all lost your money.. I posted many times on this site you cannot buy a motel unit in the US. its not possible. you all got suckered in. sorry for your loss
redwood still operating in the US
Hi Ivan
Interesting structure you have, thanks for the tips! I had heard elsewhere that for maximum asset protection, that it would be best to have a title trust(?) to own the property and an LLC above the trust. What are your thoughts of this structure?
Also, what structure would you have that would own the ultimate holding company, on the AUS side of things? would you have an AUS company own that US holding company?
Cheers
Kevin<i class=”rw-ui-like-icon”></i>0<i class=”rw-ui-dislike-icon”></i>0<i class=”rw-ui-info-nub rw-ui-info-outer-nub” style=”border-right-color: rgba(153, 153, 153, 0.5);”></i><i class=”rw-ui-info-nub rw-ui-info-inner-nub” style=”border-right-color: rgb(255, 255, 255);”></i>Rate this
Asset protection for AU citizens is blown Way out of proportion.. contrary to what those that sell it suggest.. the average US tenant is not litigious and a simple umbrella insurance policy will protect you along with your standard home owner insurance. the reason most US folks use LLC is to get around lending laws.. and for tax purpose or to allow unequal distributions.. if you have a single member LLC and your sued. the judge will throw that entity out and the plantiff will just sue you personally any way as its an alter ego.
But keep in mind NO one is going to get to your AU assets from the US.. much less a tenant living on government assistance.. tenants in the us by and large Have NO MONEY and therefor could not litigate if they wanted to.
lawsys,,, looks like you will have to continue to suffer through that cash flow dilemma…
Yes some parrall’s to the AF 447 were captian was not in cabin and co pilot lost it some how… I start my IFR refresher today I fact so get to go smash some bugs in my Cirrus today !! you probably saw the splash down and rescue off of Maui…. that’s my plane. that one was bound for AU.. I think it was going to be the Cirrus demo. well 750k sitting a the bottom of the ocean because of a valve failure.
What part of the country did Emma end up in ?
I have my first trip to Singapore in Sept.. so excited to see that part of the world.. AU next.. and yes those BUS class seats are expensive but I just can’t sit in coach that long LOL…
As for your US investments you could not have timed it better if you had a crystal ball and bought in a better market …. CA has always been one of the best markets in the US to buy for appreciation.. I know everyone talks about cash flow.. But when CA moves up you can ake 10 years of Cash flow in one year on appreciation moves in CA.
This site has gone completely dead in the US property category only one who posts here is Nigel and me occasionally and the young man Engelo who is doing well up in Toledo Ohio.. I am quite fond of him.. he has gone through his learning curve.. and has a nice little business going… for those that want that asset class.
Some of the other larger US and AU marketing companies that were the big one’s are re tooling as sales from AU have just fell off quite a bit..
And of course I still get he odd e mail from someone who bought poorly in Detroit or some other Ghetto had no clue as what they did and have no chance of recovery and have in fact lost all their money.. its sad really.
mj23001 your vastly over complicating it. you need ONE llc so you can have a US checking account.. there is absolutely no need to have a separate LLC for each property you may buy.. the only making money there is those that sell you the LLC.. also LLC’s depending on State cost 250 to 500 dollars max to draft and register.
please view our FREE website http://www.turnkey-reviews.com you can look at 20 plus US Turn key companies without any pressre and get the true pricing without all the markup the sales companies add to them..
good luck in what ever you do..
Lawsjs although your holdings I am certain are no doubt knocking it out of the park but you chose wisely in the first place gave up a little cash flow now your cashing in on Massive appreciation… good job… now cash out… you get US dollars they will buy a lot of AUD dollars and you are big winner… :)
Lawsjs nice to hear from you.. now if Freckle is allowed back on it will be like old home week.. Although the economy did not crater like he predicted ….
Yes US re is in full rebound if you bought in the right markets. and your sister did follow the better trends.
We are doing very well on our end.. the market has turned such that home owners are coming back into the market so we are able to buy fix and flip retail and returns are 3 to 5X anything you would get on a buy and hold cash flow property.
I do still get e mails from AU who got caught up with bad AU marketers ad their counter parts in the US and paid far to much for property and bought in war zone’s… no help for them in most cases.
Congrats on retiring not sure what was going on down there in your part of the world with aviation we have the Bermuda triangle something weird going on down there !!
