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  • Profile photo of Michael OakesMichael Oakes
    Member
    @michael-oakes
    Join Date: 2011
    Post Count: 3
    March 11, 2011 - 4:46 am

    The south might be good for cash flow too.  MS, AR maybe LA (Louisianna). 

    If I was going to buy now I'd look at TX, maybe Dallas/Fort Worth.  The better areas of course. Maybe good capital gains too.  Texas is a growing state and quite affluent.

    And look at Denver too as it's a popular relocation destination for many Americans. 

    Protect yourself with mortgage insurance, the Americans don't use the Torrens Title system unfortunately. 

    I'd like to know more about the Pacific northwest, Oregon and Washington State may be good buys. 

    If you're going to buy in the USA go over there and have a look, educate yourself, it's not hard.  $1200 for a return flight to LAX isn't much and you get a nice holiday.

    Michael O

    Profile photo of Michael OakesMichael Oakes
    Member
    @michael-oakes
    Join Date: 2011
    Post Count: 3
    March 11, 2011 - 2:32 am

    I spent 12 months in the US, looking and travelling and learning and eventually after a lot of research bought a property in SW Missouri.  There is a lot to learn about the US market. The cultural differences to start with (1950's white flight, transport issues, ghettos, etc).  For example you can buy property very close to downtown Chicago for $30K, or less!! 

    There is no scarcity of land in the US, different planning regulations, better land than Australia…….

    Looked at Denver, upstate NY, nothern MI, nicer cities in TN (not Memphis), resort cities along the Atlantic coast (NC, SC, GA), TX? 

    As a matter of interest I believe that foreigners can't buy in OK. 

    PM me if you'd like to hear my rant and experiences.  :-)

    Profile photo of Michael OakesMichael Oakes
    Member
    @michael-oakes
    Join Date: 2011
    Post Count: 3
    March 11, 2011 - 2:10 am

    Hello all, my first post.  :-)

    I agree generally with the above comments.

    I have a property in the Mid West and rents achieved don't seem to be dropping.  It also depeneds heavily on the region.  The Mid West seems to have borne a lot of the brunt of the GFC but things are steady now. NE and Calif seem to be doing OK but ROI's aren't as good. 

    Judith, you did well.  That's a 32% gross ROI.  Where is it?

    Michael O

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