Almost any bank will loan 30% down to a Non-resi Alien at reasonable rates on a (one) vacation home. Even at the height of subprime these loans were available.

he he he… We just have more space in Australia – we can afford to be picky. It will change:(

Sewage farms are great!! If they are anything close to modern they can be the most amazing wildlife habitats. In fact Michael Mobbs (58 Myrtle St Chippendale) has his own complete sewage farm (composting wetland) in the tiny back yard of his small…[Read more]

Professionally managed – I would believe that comment after a year:)

Regarding 888.

I dug up this post from Somersoft, written by Bevk on 23rd March last year.

The reason I put this example property out there on the forum was to try get to the bottom of why an Aussie company like 888usrealestate is advertising this property as fully restored…[Read more]

kylermrice wrote:
Those markets are ruff but you can find good deals. 

If kyler says something is ‘ruff’ it should not be attempted under any circumstances without highly competent adult supervision.

I can do that for you even though I posted it under the heading 'worth a read' (which no one read:( )…. Now, just get me the money to buy a postage stamp in Woodside:) http://www.bloomberg.com/news/2012-0…ale-falls.html Not sure if I am allowed to post links or articles, link above – article below.. Bidding Wars Erupt as U.S. Supply of…[Read more]

Eichler house. Steve Jobs.

I got into property because of my love of architecture. Steve’s comments on Eichler mirror my own thoughts. In fact, I couldn’t believe someone else saw in them what I did. Especially someone ‘famous’ – although when I worked out the parallels he had been completely written off as a has-been…

Pettit and Sevitt in Aus…[Read more]

To summarise:)
You never go broke making a profit.

And for those who may not have noticed, Jay has tugged his forelock to the ‘Aussie/French’ way of doing things by saying he drinks Shiraz.

Having spoken to people who live in Shiraz and pronounce it Shiraz it would come as a surprise to those who don’t know that a large proportion of the world…[Read more]

Jbelmore – I posted that link and no-one bothered reading it:(

‘worth a read’ – clearly it wasn’t:(

I will go back to weaving baskets and singing kumbahyah…

Zmagen,
I understand the advertising thing – I actually think a Japanese property would stack up very well. You don’t have (many) crack head losers hell bent on ripping off the system in Japan. I have spent a fair amount of time in Japan – my problem is I can’t speak the language, and especially after my US experience that would make me nervous:)…[Read more]

zmagen wrote:
Don't quite follow – I get the logistics bit, but how exactly does putting all your eggs in the one city basket reduce the risk by anything? In my view it vastly increases risk – unless I'm missing something in this equation? (assuming you'd do your DD wherever you may invest, wouldn't spreading your investments geographically…[Read more]

Land would beat low end housing (in my books) every time.

You answered your own question with your comments re A/C units. You would need considerable local knowledge to get a good return on speculative land purchases but if you aren’t chasing tenants over $3 every month and fighting deadbeats you would have time to stay ‘educated’ in the market.

jbelmore,There is one thing in the US that Aussies don't really get and it again relates to scale. Right now there is still contraction in the rental and buying market. The economy is definitely changing and getting better – not just from the official figures, but from my personal experience. People are buying cars again, going on holidays…[Read more]

jayhinrichs wrote:
Lawsjs We have no hood in Portland. It's a fact. Not to confuse our market with San Fran peninsula which is priced well above the highest priced Sydney homes

I stand by what I say 'hood boy' – All depends on your perspective. Sydney and Portland are equally Hoody:)FYI: These are the 'non hood' places I was comparing…[Read more]

It's all relative. If you were Tamara or Petra Ecclestone then Jay's own home would be the 'hood:)

Richard,
I am missing something I think. In my experience I have found almost any US bank is happy to loan on ‘second home’ basis. Usually something like 30% down at good rates but SFR only. Investment loans are not easy, but are possible I agree. As a non resi alien I just got 4.36 30yr 70% with Chase for example, but the second home business is…[Read more]

In my experience almost any US bank can (and will) do 'second home' loans on reasonable rates at the LVR you mentioned.But thanks for the response Richard.. 

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=17383831&SRID=2461278903&StepID=101

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=17201325&SRID=2461288815&StepID=101

All of 3 minutes to find….

But yes, unnecessary digression.

You _can_ buy condo’s without HOA, just rare. I would avoid HOA’s (in general) like the plague. Just don’t buy in them! There is no shortage of houses to buy! The whole thing is that people think the buying is the hard part. Buying is the EASY part.

I suspect you are happy with your PM’s because you haven’t had the properties long…[Read more]

You bought the wrong stuff Lab…. Getting involved with HOA’s is plain silly (often only a few people are paying so that means the bills fall to YOU). Also, unless you look at a system like Jay’s playing at US property as just a hobby you are setting yourself up to get badly hurt. Management really shouldn’t be more than 7ish% but after 15 years…[Read more]

My sister (emma171) does an outstanding job as a buyers agent with foreclosures, and you won’t beat the buys she finds and certainly not the reno work and particularly the ongoing hand holding that goes with it, however I have got to say if direct ownership doesn’t make you drool then I would be into Jay’s system hook, line and sinker. It makes a…[Read more]