Forum Replies Created
here it is
http://www.propsmart.com/doh hadnt scrolled to the bottom of the thread sorry gross
when the going gets weird the weird turn pro
dont forget these properties in the US are not a certainty for returns. houses in the snow belts are subject to extreme climate changes and there fore yoru maintenance costs can be sky high if youre not careful, and the first aussie s buying here was only about 12 months ago.
however the trip looks extremely well planned even if you will be competing with a whole lot of others in the smae market at the same time and to get your 17 k back you will need to have at least 200 K invested in property for the return
when the going gets weird the weird turn pro
If you can finance outside of NZ it would be better as NZ now has the highest interst rates in the developed western world
when the going gets weird the weird turn pro
For advice on share investments I would not recommend people whose main focus is property which is a very illiquid market in total contrast to shares, Forex, commodities and Options/futures just ask the Japanese broker who caused the Tokyo exchange to shut down because of a keyboard mistake in executing a trade this month. I have actually have more invested in Shares and managed funds than property but i have experts managing most of it for me whilst I dabble in the areas that I am knowledgeable on. It depends on how aggressive/defensive you want to be as you can actually be very conservative in the market and what level of exposure you are looking at.
Just my two pennies worth
when the going gets weird the weird turn pro
The Irish have got the Prague market sorted they saw it early and went in and conquered the apartment scene, very shrewd in property in europe and particularly eastern europe are the Irish, they know how to work the Euro and grants very well
when the going gets weird the weird turn pro
6 IPs 29.8%
when the going gets weird the weird turn pro
2005 VW Touareg 4WD just bought it Friday, great wagon V6 TDI
when the going gets weird the weird turn pro
try using the search function its the fourth item under the Forum boards
when the going gets weird the weird turn pro
great post F, very important to put it all in persective and see how hard your money is working 9% p.a growth is nota great return on your money, and thus the reason why the super rich do not bother with residential property they demand their money to worka bit harder, unfortunately i am not one of those so have to try and create a faster wealth through resi property investment but hopefully skillfully so i can outperform the 9.2%p.a. as in high interest years you will be losing money on that return from Resi Investment property, stil as Don & Liz says it will be a nice nest Egg, but i am an impatient 35 years old
when the going gets weird the weird turn pro
Buffalo’s positives
• Cashflow yield, compared to NZ/OZ residential rental returns in regional cities you must compare like with like, Yes buffalo is a much larger city than virtually any regional city in NZ /OZ for accurate comparisons you should be comparing it with the likes of industrial cities in NZ/OZ
• Low cost of entry
• Large rental population due to Cities current demographics & historical Blue collar workforce
• Relatively low Maintenance rates for tradesman
• Non resident tax status ( actually applies to all offshore investments)
• Diversification opportunity, allows your property money to perform in a country that may be out performing your own country’s property performance
• A lot of low quality rental properties in the city which give you the opportunity to buy quality or rehab to high standard in order to attract the better tenant.
• Despite the hype on this forum and talk around others actually even for the quality properties it is not “act fast market†occasionally you will miss out on an opportunity, this in my experience has normally been to a owner occupier happy to pay near full asking price, or a “fresh out of town investor†who has not got a feel for the market yet and just want to get a property under their beltPS Donandliz as you are a buying agent I think u have a hell of a cheek to ask the question to people who are not using them, but there again I like cheekiness, NZ with its woping population of 4 million only offers a finite scope. Especially if you are investing their remotely i.e. from OZ. and i ma a kiwi who still holds NZ IP’s but am not aquiring more their at the moment, but also am not selling them
PS Ozi Orchard Park also relly nice, but same problem with amherst re returns
when the going gets weird the weird turn pro
House hunter can you sum up how you add value to finding the perfect investment property in the USA when it appears from Genesis website that you can just operate directly through them and they are on the ground in buffalo as you rightly point out,
I invest directly myself and have done in buffalo for the past 10 months, and now have an excellent team in place, i can see the value add in what genesis do, but dont use them as i go there personally and after some early hiccups are now in a strong position.
when the going gets weird the weird turn pro
just another note of caution steves forte is not commercial property, but residential i know he appear to have done some coomrecial deals just a warning that you need to really pull apart a commerical deal much more so than a residential one, i for one as yet have not done a commercial deal so am not speaking from direct experience
when the going gets weird the weird turn pro
yeah its pretty mucha no brainer, depending on thier credit history of course and how much equity they can bank in thier own home..My partner isa kiwi that has lived in the US for 12 years so we are OK up to a point with Finance, i.e. bit liek OZ and NZ the banks will have alimit of the amount of properties they will finance for you.
when the going gets weird the weird turn pro
Enjoyed the League, superb effort by the kiwis especially to keep the ozzies scoreless, to cap it all i live in Wales and they went and beat the ozzies too. Yahooo as a blue blooded kiwi nothin better than to see our big brothers hurting on the sports field…
when the going gets weird the weird turn pro
Yep Ozi youre right, the other one .com must be a commercial set up to take advantage of HUd homes, it definitely wont be government.
when the going gets weird the weird turn pro
simply Yield and Scale
when the going gets weird the weird turn pro
I have also learnt through that, and westan I would agree with you, you have to be on the ground and actively investing, participating because it isnt until you actually see the people walking the walk that you learn who you can keep. from my original team I have only kept the Realtor(mainly because of the time he dedicates to Me) and the Mortgage broker but this mortgage broker took a long time to get to, one lesson i would say is never, in team building, go off your realtors recommendations( their Modus operandi is to get paid a commision on a completed sale), so all their referals of Legal, Building and structural engineers, property inspectors, property managers will be people who are “yes men” in other words people who will enable a sale not prevent it.
I have since developed a great team including three Lawyers with expertise in different area of property law, purchasing, evictions and legal financial protection. also now have an excellent property manager and best of all am now using a building inspector who no realtor in WNY will refer as he is known as the “deal killer” so far he has saved our skin on at least two deals. needless to say all these people were replacements on my initial team of Talk the talk people but not walk the walk.
PS Bardon to me appears to specialise soley in this tricky area of foreclosures so i would listen to his advice above any other on this forum with regards that subject we have e,mailed briefly but i have not had the time to speak to him in person.
when the going gets weird the weird turn pro
You can definitely buy below value in both NY state, and the other snow states. have done and will continute to do so and its agreat way of creating instant equity on closure with a cash purchase then a refinance, but you have to be prepared to watch and wait and then put in offers that will find a motivated seller. same principles as in NZ,
But as westan says u have to really get to know and understand local conditions, local people, time of year to buy, i.e. when the other out of town investors are not there. you only develop this with time this does not happen instantaneously for those who claim to have gone over and built their team( whilst this is vital you must work this team i.e. provide them with cash not just phone calls, thats how the US works cash is king,a business relationship over their must involve cash benefit for the US team member end of story), and then you only get competitive advantage in this market with knowledge and thats not just a bunch of research which is done pre market but with knowledge you develop by being active in the market, buying, selling, rehabing, letting mixes of them all.
wise advice flash
when the going gets weird the weird turn pro
buffalos a touch bigger than toke, and Westan i agree with your words, I as a Kiwi investing in Buff am doing it solely for cashflow, but there are is a lot of outside investment pouring in and i dont mean from just us kiwis and ozzies, the brits and the US out of staters are already begiing to increase thier investments there.
I however am following the bob Jones philosophy and still holding my NZ Proprties, they are positive cashflow and i have already geared them to take advantage of that.
when the going gets weird the weird turn pro
yes
but perspective i think is required for novice investors, when assessing opportunities, overseas property invesitng is high risk and that risk is not completely mitigated by research( whilst research is essential). experience and actual track record counts for a lot.when the going gets weird the weird turn pro
