hey guys
Just found this forum regarding us real estate investment and thought i would share my experience because when
i started investing in us real estate in 2010 i couldn’t find resources like this in my research.

Anyway i have bought 8 properties now in the USA, 3 are what i consider successes and 2 are ok, 3 were utter disasters.
Ironically the 3 disasters were all bought on a trip to Florida in 2010, since then my luck has changed or rather
i have learnt what to avoid and where to go. In 2008-2010 i was in the states a lot on business so the idea
of buying foreclosed property appealed to me, hence i made the plunge having already had great returns
from buying overseas with investments in Bulgaria and Romania in 2006 before they joined the EU.

So anyway i now focus on the USA and particularly states that are showing strong signs of recovery,
hence when i came across a Brisbane firm called USA Foreclosures, i started to look closer at Michigan
as USA forec said it was really starting to buzz. The problem was i had just seen a doco on Detroit
and it said the vacancy rates were huge in the city, so i was initially skeptical but apparently the outer
suburbs, 45 minutes away had a weird thing going on, basically employment with the big firms there
was really cranking up but the foreclosure rate was still growing.

I also have not seen any other aussie firm offering to underwrite returns which this firm does, ie guarantees
15% gross(not net so don’t get too excited) so that overcame my worry about vacancy rates and to be honest
so far so good,i am grossing 21% and netting about 14% on a 58k investment, it is in a small suburb called
Redford.

The other previous successes were with another firm based in the USA and whilst they did a great job
in sourcing the right property that would rent, they were painful to deal with, i would rarely get my monthly
statements on time and there would be way more repairs going on than i would expect, yet it still made me
an average of 16% pa and i sold one of them for a net profit of 63%.

Anyway would love to hear about any other underwritten guarantees available out there or any other hotspots
that people are seeing a similar picture to Michigan as i think this is the key now.

Michael