So, as I suspected, you and your team Alex (like I would guess anyone else) are successful because you are different and do it better than the next guy.

I would back you any day over a sharp suit….

I don’t know how others feel (Jay and Alex would be interesting) but I would not let a Wall St fund anywhere between my money and real estate. My sister (Emma) has been really successful in subprime stuff because she can outperform, out manage and out deal the bigger operators – she is on the ground doing it. The only reason she is successful is…[Read more]

Funny, Ive just read this post. The US banking system operates in the 1960’s. I keep telling them that it is possible to use the interweb for business and not just porn (like Kodak it seems inventing it and using it productively are light years apart) but I think in the money case my 15years of failure may have led to an alternative method that is…[Read more]

NIce video, but no. I was referring to something much more deeply embedded in the US psyche…

Alex – can you explain why you see little growth inside 10 years? I cant see the Fed doing anything other than forcing money into the system – sooner or later people will be able to borrow again, if for no other reason than if they don’t Detroit will not be selling cars which is politically unpalatable of course. I can easily see a settling in the…[Read more]

As above the answer – once more ‘for the dummies:)’
I am glad you asked that question above, because you are right, I haven’t bought through Jay’s system, but I would look very closely at it if you aren’t after every last dollar, or hell bent on control. I had an offline PM with him a while ago and I described what arrangement I had come up with…[Read more]

WI – no you aren’t but you may as well be, so I used the nomenclature deliberately** and with some knowledge:) I do not believe you don’t speak for her, so lets leave it at that and we can all go on and watch Mary Poppins sink slowly into the Western sky very happily:)

If I was staring out and didn’t know as much as I did about the US, I would be…[Read more]

worldinvestor wrote:
"Jay has an interesting concept which I quite like, you in effect 'partner' the building and get a lower return, but his group solves the day to day problems for you. The more experience you have I think the more you will realise what a good deal that actually is.".LawsjsSo would you personally buy this product?I have no…[Read more]

Great Stuff Alex…Aussies out there looking, here is a legitimate US property guy who is genuinely doing the 'right' thing by himself and his purchasers. <moderator: delete advertising>. Anyone thinking of dipping their toe in the water with the US (and I think you cannot lose) should look no further than these guys who are…[Read more]

Karina,
The yields you get are still very new. 20% will not happen over time and that is without factoring in airfares. The stuff you are selling is great, but be realistic with the yields – especially for newbies. Yes you will do better than Oz, but as Jay and Alex both will confirm the yields with even basic repairs will leave you slightly…[Read more]

There are good reasons to having an LLC trust structure if you own a few properties, but remember that the protection of an LLC is realistically no better than living overseas. Someone has to spend a lot of money to serve papers on you if they want to sue you. LLC’s bring a lot of taxation complexity with them – ask yourself if it is _really_ necessary.

As Emma, Jay and Alex know, we are getting there. This will come out. A lot of work has gone into this over the last 12-18 months.

That doesn’t mean it has happened. If anyone knows an Aussie who has been ‘hurt’ then please get them to contact either myself or Emma. We have one very good lead, but more would be VERY helpful to get the story a…[Read more]

Emma just pointed me in this direction.

Jay – That is really good news re the FBI. My guy in LA has very close connections in the property industry and has also pointed a few things out to people. Basically it is NOT right for the honest guys to be outsold by non qualified fast buck merchants and it is NOT right for people to be ripped off by…[Read more]

Nice one Jay!! Well done. Out of interest do you have any idea whether AU superfund money can get IRS 401k tax benefits?

I wrote that above and then thought more about what you have achieved. Great result for everyone. You deserve every success as the planning would have been daunting. From the little glimpse you gave me of your business model I…[Read more]

Jay – Interesting article on Bloomberg appeared ysterday saying exactly that.Karina – I have refi'd $2m worth of property in the last 3 months with a nice cash out – the banks (in this case Chase) are actively asking for my next deals.  I really didn't expect anything from the loan apps, but they came through. If I can get that as a non-resi…[Read more]

Don’t worry Jay – they are killing each other in the rush. As you well know the professionals will be safe – it is amusing to watch:) We had a few days ‘spruiker free’ whilst visa runs were in progress.

The ‘great’ US market has probably months to run in ATL (18? 24?)- I do not understand this race to the bottom. I discussed this unfolding…[Read more]

Jay,They may seem hard to value, but in the raw capitalistic world of the US what you are doing of course is creating the market. Fortunately there are buyers out there – albeit at a very low level – or total collapse would have occured (Lehmans). Your $38k house, as ridiculous as it seems has a 'pure' value of $38+3k. And of course I agree it i…[Read more]

DHCP: I will send you a PM on this but regarding maintenance etc but a part of the problem is (I think) like Grand Designs. How badly do the projects go if the owner is not there to oversee the build? It is setting youself up for a fall. Add in a US/AUS language barrier and 6,000+ miles and simple things will go wrong at some stage.Karina: W…[Read more]

Indeed Jay. And (esp Alex) I am not having a go at the US (though many 'Proud Americans' also subscribe to Soldier of Fortune magazine and own weapons the Aust Army aren't allowed) but things are very different in the US. Its hard to explain, but in Aus if someone does a job (generally) they do it to the best of their ability whereas the US it…[Read more]

So it seems very strange (read impossible) to have someone who lived in DC be incredulous about plumbing being ripped out and then to mention whitegoods being stolen in Aus…. DC hi cap property means you should be able to mix it Dirty Harry style with the homies:)

Alex: Your double negatives make little sense to me. Can you elaborate? Im not…[Read more]