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  • Profile photo of morpheusbushymorpheusbushy
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    August 26, 2011 - 1:59 am
    RickH wrote:
    Each to their own ….as long as you are happy with the results thats what matters

    Exactly.  I had every intention of doing it on my own – the administration effort ALONE made me want to look for help, not every buyers agent is bad, you just have to be careful and do your research.  Even after I decided to use a turnkey company, I knew that I would not feel comfortable buying without first visiting the market in the US – even though it was clear I didn't have to – so as Rick says, each to their own.

    Profile photo of morpheusbushymorpheusbushy
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    August 24, 2011 - 1:27 pm

    I don’t think that all buyers agents are necessarily bad as it does require a significant amount of time and effort to purchase overseas, I do think from what I have heard and read that there are definitely much better alternatives than my USA property.

    Profile photo of morpheusbushymorpheusbushy
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    August 23, 2011 - 2:17 am
    speedy gonzales wrote:
    Hi Rodger,

    US Property Sales Australia is the newly created remnants of MyUSAProperty. My suggestion is to stay right away from these guys…..<moderator: delete personal comment> PM me if you want more information <edit>.
    As for the other companies you listed….just a couple of more so called "experts" on US property. A dozen must spring up each week. No doubt they have all this secret information and access to these special properties that you can access once you pay a membership fee…that should be your first warning sign
    Send me a PM and I can recommend who you should be dealing with.

    Is there no longer a my USA property? Their website is still up & running, I can't seem to find any info on US Property Sales on google..

    Profile photo of morpheusbushymorpheusbushy
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    August 22, 2011 - 1:10 pm
    Winterose wrote:
    Try Xilo, they are affiliated with Westpac, but call and speak to them first toget your info because they are a pain to set up.

    Their website scares me too much :-S

    Profile photo of morpheusbushymorpheusbushy
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    August 22, 2011 - 11:36 am
    RickH wrote:
    Congrats on your purchase… a long and winding road huh !

    Where did you buy ? Did you do it yourself or with buyers agent assistance ?

    Look forward to hearing how it all goes

    All the best and well done !!

    I bought in Dallas, Texas. I used a sort of unorthodox method using a combination of a realtor and a turn-key investment company (US based).

    Thanks for the well wishes :)

    Profile photo of morpheusbushymorpheusbushy
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    August 22, 2011 - 5:49 am
    jayhinrichs wrote:
    Thank you for posting reality I have been preaching 7 to 10% NET returns and I know this is a fact. But have basically been Booed off this forum. Lots  of day dreamers there in OZ

    That is sad to hear!  I agree, many people have wayyyy over-the-top expectations about nett returns – most don't take in to account vacancy rates and even re-letting fees.

    I am confident of getting at least 8-10% nett return this year on my recent purchase taking in to account almost everything – the one thing that I will do not account for is my LLC set up (@ $2,500) which I will use for multiple property purchases.

    Profile photo of morpheusbushymorpheusbushy
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    August 20, 2011 - 8:01 am

    If you are looking for a notary try… http://www.notarylocator.com.au

    Profile photo of morpheusbushymorpheusbushy
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    August 19, 2011 - 4:05 am

    Thank you – I think direct transfer through OzForex is the best way to go in the future…

    Profile photo of morpheusbushymorpheusbushy
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    August 16, 2011 - 10:04 am

    New article from CNBC if you are thinking about Texas, talking about Rick Perry, job creation, booming oil business… http://www.cnbc.com/id/44155708

    An older (1 year) article talking about tighter lending restrictions in Texas and how they largely avoided the exponential growth and then sudden collapse of its housing market… http://www.cnbc.com/id/36134970/?The_Lone_Star_Secret

    Profile photo of morpheusbushymorpheusbushy
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    August 8, 2011 - 11:07 am

    Yeah looks like the US is about to drop on open in a couple of hours, I might look at buying some more in the next day or so as well.

    Profile photo of morpheusbushymorpheusbushy
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    August 6, 2011 - 10:10 am
    Perthgurl65 wrote:

    Arrrghhh … you mean I have to do my OWN ??? lol

    Actually, I have already begun and San Antonio is where my heart is :-))))

    Marg

    Great, share your research! :)

    Profile photo of morpheusbushymorpheusbushy
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    August 5, 2011 - 9:43 am

    Sorry, don’t have any.

    Profile photo of morpheusbushymorpheusbushy
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    June 14, 2011 - 2:17 am

    Thanks Andrian, I am yet to head over to make my purchase(s) but will definitely keep you updated on any results, information, contacts etc. that I come across.

    Craig, I don't have your agents details in Atlanta, would you be able to PM me with them and I will make contact?

    Cheers!

    Profile photo of morpheusbushymorpheusbushy
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    May 31, 2011 - 9:04 am

    Thanks Michael!

    Profile photo of morpheusbushymorpheusbushy
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    May 31, 2011 - 9:03 am

    “Buyer is also responsible for all back owed taxes, assessments, liens, or encumbrances.”

    There is probably $40,000 owing on the place! Also, with no inside pictures showing you can be assured of the worst inside.

    Maybe you should read up a bit more on terminology / general USA investing – I think these ‘bargin’ sites can be dangerous if you don’t know what you’re doing.

    Profile photo of morpheusbushymorpheusbushy
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    May 30, 2011 - 12:25 pm
    morpheusbushy wrote:
    Hopefully this bullet is not too far away for me :)

    Whoops, minus the death part of course. Although.. I will be travelling to Texas soon……

    Profile photo of morpheusbushymorpheusbushy
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    May 30, 2011 - 12:24 pm
    biggaz13 wrote:
    Eventually you get to the stage where you just have to bite the bullet or forget about it.  

    Agreed! You could study a city for months without ever knowing if it will definitely be a good investment or not.

    Hopefully this bullet is not too far away for me :)

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    May 29, 2011 - 2:17 pm

    Hey Joe & Chels,

    You can rest assured that NO apartment in NYC will sell for $2000, no matter how crappy / destroyed / small or the neighbourhood it is in.

    I’m not an expert on the matter, nor do I think I could give you an indication of why these prices are advertised for this price. I have a few ideas why this is the case but don’t think I could articulate them into an answer for you, sorry!

    In terms of your other comment, investors in the US are a lot different to Australians. For some (odd) reason it has almost become the expectation that once you finish school or uni and start full time work you should immediately start saving for a deposit for a house. I’d almost say it is an integral part of our culture as our young move in to adulthood. I don’t know what it is, but we seem to have that “must own a home” mentality in Australia. They don’t have this mentality in the US, at least not on the scale that we do. Further more, the USA is big, and I mean BIG. There is over 300 million people! There is no doubt in my mind that there is a huge number of US investors snapping up these bargains all over the place. Again, I refer to my previous point, the US is one giant marketplace – there is room for a lot of property investors!

    :)

    Profile photo of morpheusbushymorpheusbushy
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    May 29, 2011 - 1:29 pm

    Thanks Tradeeba for your comments on Atlanta and TRR. I’m actually visiting Atlanta for 9 days in July so would appreciate if you could forward any contact details for TRR and Jennifer the independent agent? – i’d love to arrange a meeting with them for when I am over there!

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    May 25, 2011 - 1:39 pm
    Moggiee wrote:
    Hi M

    We visited Atlanta a few months ago to look at the properties we bought and we loved it! I was expecting a city that was a bit “pov” but was amazed at how lovely and highly liveable it was… I could happily live there. I’m sure there must be bad areas but we didn’t see any. There is a real southern hospitality there. We bought through a “leap of faith” via Top Rental Returns and as they’re on the ground, they know the right areas to invest in. I’m guessing they’ve got better at choosing since their earlier properties and some negative comments I’ve seen on this forum. They did a great job in the renos and got tenants within the 3 month period that everyone said it would take to lease. Next one we buy from TRR, I wouldn’t sweat over analysing the area and distance from city etc…

    A contributor on this forum suggested ensuring you make sure the property has two bathrooms and I think that’s good advice.

    I’m sure you’ll have a great time when you go!

    Cheers

    M

    Great thanks for your feedback! Looking forward to the trip. Can I ask how much you paid for your Atlanta property?

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