Forum Replies Created
@Stepping Stone
I understand your theory completely.
People who invested for capital gains got slaughtered in 2006, had their home values decline and started to feel the pressure of making repayments when the home was worth half.
People who invested for cashflow, were still able to make repayments thanks to cashflow, these cashflow investors then had the luxury of either walking away from their homes (thanks to non recourse loans and 100% LTV loans) with little financial impact.
I agree no one knows everything, you need to do thorough research, and always think of worst case scenario. I cringe when people invest for capital appreciation. Throw your money there and cross you fingers that one day it will multiply in value.
My point and probably yours as well Mark is, invest in your education before making any decisions. Don’t just accept that it is something you “don’t know”, this is just lazy. People who make money in this game (Australia or U.S.) know how to minimise risk and take opportunities when they see one.
I see the U.S. as an opportunity right now, but, there a dangers as well. Hence why I am wanting to lean on people on here for some help and see if anyone else had an opinion on these added finders fees companies are charging compared to this company I am looking at going through.
If this company is consistently getting better net returns on the same houses, and without the finders fee, then this is a better deal surely. Am I missing something?
no solicitors fees as Missouri transactions are purely title companies. You can use an attorney at your own discretion.
Closing costs are $780
They make their money on the spread between what they purchased from the bank, plus add on the renovation cost, then they add their profit on top. Some australian brokers are said to then add the finder fee on top of this price so seems better to go direct????
I suppose it is much of a muchness then. You either pay a finders fee or you find someone direct and save money on the finders fee
This property is already rehabbed and tenanted
Purchase 43,000
Taxes 652
Management 800
insurance 450
Rent 805
Net return 18.04%Other company had the purchase price at 45,000 and then they added 3,500 in finder fees on top of this price!!!!!
Property was in Kansas City but just sold yesterday.
As I am new to this forum I also want to see if anyone else has seen this type of price difference and what companies mark their prices right up?
I just want the best deal and am still in early stages of looking
Spoke to AREI and they said they don't charge a finders fee.
And no, I am not marketing anything. Just a person trying to get some information who just got some word from some companies and who really does not know how to start it here.
I'm new here. I just want to answer the question, I'm not buying "yet" because I'm really trying to look at properties, and basically looking for a reliable agent/company who will help me and will answer all my questions. I already have some properties and I've been talking to some people, but you know, this is a major decision that I should really look into.