Forum Replies Created
Hi Rowen,
I am a native New Yorker living in Australia for the past twenty years and I too am interested in getting into the property market back in the States.
I am forming an Australian / U.S. buying syndicate with my money, some money from my friends here and friends in the U.S. and generally those who are cashed up and are interested to invest in East Coast, mid market properties.I know quite a bit about favorable vs. not so strong areas across the States and the problem I have with property in Orlando is that there is a glut of properties on the market and most are available to rent and many stay empty for long periods of time. Many investors from the U.K. have invested in proximity to the theme parks and they are now practically giving their properties away – renting them cheaply and getting jittery and selling out.
Also, theme parks are a discretionary spend that may Americans can’t afford to make and cannot into the indefinite future and the parks rely to a great degree on the Domestic Market.I believe in buying properties in historically high socio-economic areas with large families and high disposable income in proximity to Manhattan (Rochester and Buffallo do not cut it).
For example, I intend on buying in Connecticut, the five Boroughs and Jersey.
My Brother in Law is also a property manager living in Connecticut and he can potentially help look after the properties bought through the syndicate which is one less burden.
On top of that, I hold a U.S. passport, Social Security number etc and as I understand it, there are many more tax advantages in working through an American Citizen as opposed to being a foreigner investor in the States.I live in Hunters Hill and would love an opportunity to speak to you or anyone else that shares the same interest in taking advantage of undervalued properties / distressed stock and foreclosed properties that can be positively geared from Day 1.
I don’t always have an opportunity to get to this site very often.
If you or anyone else is interested, I can easily be reached at [email protected] or feel free to give me a call on 0414 623 313.Love to discuss the opportunity further.
Regards,
MauriceHi Guys,
I am new to your forum. There seems to be so many differing opinions on the advantages and risks associated with buying in the mining towns.
I have two properties that I am currently considering:
1 is in Dysart – a 4 Bedroom going for $485,000 with a lease in place for $1,000 / week.
2nd is in Blackwater – a 3 Bedder going for $285,000 with a lease in place for $550 / week.I am interested in building a portfolio of positively geared properties and I am less concerned with capital growth.
Obviously, I appreciate that mining towns are risky.
I was curious to get a read on how risky.
Even with a down turn in demand for steel, does the consensus in this forum really feel that mines will be shut down, be reduced, be closed off.
Personally, I cannot see it. As I understand it, investments in the mines continue to be made by large resource companies.
Do the mining companies have it wrong? Is it a big fat mistake to be too optimistic about the need for coal across the region?
