No – it actually increased in value. More tenants = increased rents = higher valuation = happy days… I sold my worst building for a profit (small) at the absolute bottom of the market.

It doesn’t take much to build up a portfolio once you start. It probably sounds a lot to begin with, but would be nothing compared to Jay, Alex etc… Just build…[Read more]

I was wild and crazy and about 15 years ago went to LA to buy US property, made about 1000 phone calls in the space of 3 weeks and finally found a broker who helped me. I have now bought about $10m worth and wouldn’t buy through any one of the numerous Australian LLC pedlars that have sprung out of the same trough that used to provide the worlds…[Read more]

Nothing against LLC’s – as you said put your property IN LLC’s. Don’t buy someone else’s LLC that may (or may not – particularly if you deal with Andrew Allan) have a property in it. Big difference!

These guys are not Real Estate agents, they are not allowed to legally sell real property (probably not allowed to even work in the US) so they get…[Read more]

Thanks. Interesting for me, but these ‘bad guys’ don’t sell RE they sell LLC’s…

I

Perfect. And appreciated…

Would it be possible for mods to post a sticky??

Michael 888 wrote:
Also everyone please note that the Andrew Allen spoken of above  IS NOT THE ANDREW ALLEN who is a member of this forum and Somersoft and is a buyer's advocate/agent in Brisbane Qld, who contributes useful and worthwhile information in his posts.https://www.propertyinvesting.com/user/waysolid

Well said and PLEASE pay regard…[Read more]

It is worth spending the time to decipher Jay’s posts. Hidden deep inside them (like the Da Vinci code) are buried messages of great intellect:)

Aside from several layers of obvious rorts in the purchase scenario, I put it to you directly the ‘property management’ you speak of will be nothing more than a complete disaster for anyone. Either you are directly advertising or you simply do not have a clue as to how much money you have lost.

Here is an idea. Why not find a direct real estate agent in the area you want to buy and give them a call or email them. That way you KNOW you won’t be paying excessive fees.

Everything in the US is available online for free (as Emma says Redfin, Trulia, Zillow) so why would you want to pay $500 (or any amount) for absolutely nothing?

On the contrary, I would run a mile from any company offering ‘finance’. The only realistic finance you will get in subprime areas is from hard money lenders and I would suggest the ‘majority’ of the financed amount is profit for the company itself and little to do with the actual property.

The more ‘products’ they offer, the more opportunity…[Read more]

Along with Speedy I would be very interested to know if Andrew Allen is legally able to work in the US. He is basing himself there, surely he has a green card or residency to allow this.

What qualifications does he hold to sell RE or securities there or, for that matter in Aus?

Additionally – who taxes the income from the money he earns whilst…[Read more]

Richard,
I think it would be much appreciated by everyone here to see in your words what you went through. As most would not know there is a lot in your story that is (in Emma’s words) abhorrent that didn’t quite make it into the short segment allowed.

Little things like you paid for a property but it turned out to just be an LLC that they hadn’t…[Read more]

AntheaProperty:
Surely you are joking!!!

Moneyforjam posted this a couple of days ago:
Here’s a link to the 7.30 report http://www.abc.net.au/news/2012-04-24/aussies-lured-by-dirt-cheap-us-housing/3970128?section=business
For the record Andrew Allan of my USA property is trading under a number of different companies in disguise. Additional ones…[Read more]

engelo10 wrote:
I love it how everyone with products posts when a newbie needs some advice. I love this forum man hahahaha

Engelo10: it might look a bit daunting with US property guys ‘all’ selling things (speedy and I certainly do not) , but look at it this way: None of the guys posting here (Emma-the honorary guy, Jay, Alex, TxCC, Ziv,…[Read more]

What has annoyed me from the beginning is that there is good money to be made – what wrecks it for everyone is the out and out scams. And I am not talking about someone like Steve M standing up and slightly exaggerating by saying 'you too can get 30% net buying US property' but the multiple layers of profit that these guys reap from every sale. 3…[Read more]

Same guy. I wouldn't trust him with anything more complicated than a mouse trap – let alone a '44!The money for the toys has to be coming from somewhere – they are not inexpensive trinkets, and there is at least one place we know of (for sure) where 'super normal' profits have been (or are being) made.

Thanks DWolfe.To add to moneyforjams great links above, check out this:trentrichards.comNothing like courage in the face of adversity!!

Ziv,It seems to me you do not overstate, acknowledge the difficulties and are therefore completely realistic. You add considerably to the body of 'legitimate' advice on the net and I think that is important to recognise. US/UK or Japan – it is very interesting to understand and appreciate the differences. These you point out and nothing I have se…[Read more]

Thanks, but they were given everything. A complete nuts and bolts ground up expose of the US RE market and they (Greg Hoy) showed nothing but the rip off ‘glitter’ in relation to two companies. They had enough for an entire 4corners expose on the US market.

I dislike the MyUSA thing, but believe me, they are doing nothing other than exactly the…[Read more]