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Miami indeed is a great place to invest in. i think the long term investors are not at risk as property prices always go up in the long run. on the other hand, the investors who want to spend for short term might me anxious about the recession that is anticipated to hit this year.
I think to be a millionaire you need to have the confidence in you, the ability and luck. throughout one's life comes a number of opportunities. all you need to do is pick the right opportunity!!
Very good post indeed. It would be more helpful if others could also add up to the list, so that we have a full list of financiers with whom we should pay extra caution to.
the best way to know the price is to see the price of similar property in the surrounding area. buyers agents usually have better information. so if you are not an experienced or do not know the neighborhood well, I would personally suggest you to get an agent. this will also save you from unanticipated trouble. make sure you choose an agent who is well reputed and in business for a reasonable time period.
Auctions are different and if you are not experienced, then it would be wise to attend a few just to observe what goes around before you attend one and make a bid. You must have your finance ready as well (considering the fact that you are not financing from your own pocket) since you will be legally obliged to buy the property if you win the auction. there is no chance to decline it you win an auction. so be careful and good luck !!
I also agree with Scott that it is time for reviewing the performance of your agent. Try to get a better agent. In that note you should take recommendations from people you know so that you can trust the work and words of the new agent that you select.
i am a bit confused. so anyone who does not live in Australia, but have an investment there would be treated as a non resident?
i also would like to know whether the non residents have to pay more tax than the residents or not.
jeff2investUSA wrote:RickH wrote:Jeff,Why do you say that ?
What evidence do you have to support your statement ?
I have looked into KC and their are good and shocking parts (like all cities). The middle of the run areas still provide solid returns.
It is a stable city and UE rates ect are all at are below national averages.
I am happy to read anything you have on KC that may change my thoughtsHi Rick, I have a business partner in the USA who is one of the leading buyers agents in the USA, he has a research company that advises investors on where one should invest and not invest, his assesment of Kansas City which can be backed up by data is that Kansas City on a long term basis is not a city that he would advise his investors to put money into. This company researches over 250 markets and has over 30 years experience in real estate. Everyone is open to investing in wherever I do invest in the USA and I am getting good returns. Rick H are you investing in Kansas City? Jeff
Hi Jeff,
It would be nice if you could share the web address of the research company you are talking about. I am sure as we gather more information we would be benefited while deciding where to invest and where not to.
Does the company suggest that the cash flow won't be adequate to cover the investment because of low rent?
I also had similar type of query. Thanks to you all for taking time to provide with the information.
fWord wrote:MRW wrote:may as well keep this discussion going.I have no idea who this guy is, whether what he says is valid or not. Interesting read though.
Who knows!—
MarkInteresting read, and judging by the comments, there's a lot of people out there waiting for the Australian property market to fail. It very well may, or it may not. One thing is for sure: the ones waiting for the crash have virtually nothing to lose and potentially a lot to gain if the bubble bursts. All they need to do is sit around and talk. It doesn't take guts (nor the smarts) to do that. Talk is nothing without action.
Those with money in the market are the ones who stand the chance of losing a lot. That said, I am betting my future and my entire portfolio that there is no bubble to burst. Sure, prices could fall but that doesn't fuss me. And I'm not anticipating price falls of 30, 40 or 50% either. I'll rather take my chances at a better financial future (at the risk of losing everything) rather than wait around, do nothing, and be screwed anyway, wallowing in self-pity and poverty in my golden years as inflation causes the death of a thousand cuts.
I totally agree with you on the note that many people will gain if the bubble bursts. I have the same feeling that prices won't fall by 30 – 50%. It could be 15 – 25 % at best.
You will have a time time finding it i assume. Try to ask th e people those live nearby, they might come in handy since they faced this problem earlier…
All the best with the venture…
If you are still searching, try Legacy Realty Group. They are probably the best….
I think the second option is better – saving an independent deposit on house 2. It will give you more flexibility.
