Forum Replies Created
Hi Speedy Gonzales,
I have found that there are a number of business’s out there that do charge for you to get the info. I have spent many months looking into the USA market, I have met Andrew from myusa, and there joining fee was I think $500. One can find the info out there you have to spend a lot of time researching the market. I don’t have a problem paying a business to supply me with the info, I do have a problem if the info they supply me with is sales hype, not backed up with sound data….this I think is the problem, you need to know the real vacancy rates for Orlando…Miami….Michigan…….Atlanta….and any other market anyone suggests you invest in.The companies that are out there except maybe one or two DO NOT have the kind of information that property investors need.
I have been investing in real estate in Sydney for many years, the notion of positive cash flow does not exist….it is all capital gain.
I am investing in the USA and there are good deals out there.
If you want a good tax accountant I can give you name….it will only cost you $100
Just kidding
Jeff
Hirav,
You would need at least 30-60K to get started, in some markets you will need more. There are a lot of people offering property deals in Florida, Atlanta, Ohio, Michigan. You need to do some due diligence in regards to vacancy rates, unemployment figures.
I am investing in an area that gives good positive cash flow up to 25% net, property already tenanted. Potential capital gain, as mentioend some area’s will give you better capital gain. Again you need to have some strategy in mind as to how long you would want to hold the property to get capital gain, some people that I have spoken with suggest that the USA will not recover for at least 7-10 years, others say 5 years.
The area that I am investing in did not experience a bubble or a bust, just is consistent.
You can also make capital gain of fixing up the property then selling , but capital gains tax comes into it.
How did you hear about investing in the USA?
Jeff
Hi Steve in China and money changer,
I have spent the last 10 years going back and forth doing business in the USA property has always been cheaper than Australia, even when there market was booming.
I was in Orlando earlier this year and have a close friend that has a business purchasing property and doing rehabs, then flipping them, he encouraged me to get into the market in Orlando, after doing some serious research i realised that Florida was overcome with properties. I decided that I would look into other markets to see what was around. Many quote unbelieveable returns, which when one did there sums seemed to good to be true.
However there are certain places that one can get a good deal, it is all a matter of were, my brother in law did business with a firm here called wealth creation 888 and purchased 4 properties in Atlanta against my advise, he has only rented out 2 properties and that is after 5 months the other 2 sit vacant. His property taxes are much higher that the brochures he was sent quoted. There are a number of business’s that have been set up to get in on this unique opportunity. How good they are I would have to question.
I am setting up a business to advise locals on what do do because i think that there is a need for a proffessional service that will give the truth re capital gain and positive cash flow. Yes I will make money, but I am investing my own cash in US property and the positive cash flow is very good 25% net in some cases.
My background is in real estate property investment here in Sydney, I have interests in a number of property here in Sydney as well as the USA, I cannot get positive cash flow here in Sydney, my business partner has a finance background and is a mortgage broker.
This is a good forum and I am pleased to see many making a good contribution to what is a growing market here in Australia.
Jeff
Hi Hirav,
I am involved in a business that advises investors on the inns and outs of USA property investment.
Do you have a strategy ie wanting capital gain or positive cash flow?
What is your budget?
Jeff
Hi AusVietGuy,
You need to do some serious research, What are your goals? positive cash flow or capital gains I have spent the last 4-5 months looking at various areas, Florida , Atlanta are being promoted as places that you will get good returns, however and you can take this advise on how you want to. I would stay away from Florida, there are so many properties that are being advertised with all sorts of returns be very careful.
I am investing in areas that are not on everyones radar and the returns are very very good, properties purchased are already tenanted and 15-20% net is acheivable.
I was in Orlando Florida earlier this year and it looked very attractive compared to what one pays for here in Australia, yet Orlando has one of the highest vacancy rates in the USA, there are so many places for sale all over Florida.
Steve,
Don’t get me wrong 10% minimum is great, I am about to close on a deal that will give me 26% net. There are plenty of deals like this. If one is happy with 10% thats fine no problem. I know that there are better deals that will give one better than 10% more like 15-25%. I know it sounds to good to be true, these deals are out there
you need to know were these deals are these properties are not REO or foreclosed, you will not find these properties on any MLS listings.
If you are interested you can contact me if serious
Hi Steve,
I have looked at markets in Denver, Minneapolis and other area’s upstate NY, returns of minimum 10% is achievable, I am in the process of setting up a website that one can go to.
You don’t need to live in Australia to be able to access the website. I have been reading some of the other blogs and there seems to be a number of local as well as OS investors that are looking at the US market.
I know that Florida is well advertised but HOA will eat up monthly rentals there is a GLUT of properties. in Florida, also Atlanta has high vacancy rates, my brother in law purchased 4 homes in Atlanta and has only leased out 2 in 6 months, his property taxes were not fully disclosed. Again vacancy rates are a problem in certain cities as well as unemployment rates.
Steve I can put you in touch with some guys that can give you very good positive cash returns and the properties are already tenanted
Hi all,
I just joined today and have found all the comments most interesting. I am in the process of setting up a business called invest USA, it is designed to advise locals on the ins and outs of property investment. I have spent many months looking at various markets and Florida was on of them, I was concerned at the vacancy rates and unemployment figures. I was in Orlando early this year and could see why so many people would be attracted to Florida. My research concludes that one should be very careful about investing in Florida, there are other area’s that have a better potential for positive cash low and capital gains.Also the HOA fee’s that are associated with apartment purchases can eat away at any investment. Single family homes to me are a better investment.
There is a glut of property available in Florida so be careful.
Hi Archanic,
I just joined today, I am in the process of setting up a business called invest USA, we are advising Aussi investors on property investment opportunities that currently exist in the USA. Concentrating on 3 area’s in the USA. I have 2 accountants that are based in Sydney that are both experienced in Australian and USA tax laws. If you would like there details I would be happy to email them to you
