You would need to seek legal advice to be sure however I would think that the agent has misrepresented the property to you so you may have a case to take legal action. However it is important to seek advice. It is also important that you do your own independent due diligence before you purchase.

I would be very wary about being hotel suites in a tin shed. I would not touch it.

Its sounds unreasonable that you have to pay for a quote. Clearly the agent has a deal with the tradesman. If you pay for a quote it is far more likely that you will go ahead with the job. 

When I was an agent I found that people who often sold in winter got a better price than summer or spring. I often found that there were more buyers in proportion to the number of properties on the market. The reason is that many years ago there were 3 school terms not there are 4. As such the spring selling season is reduced in time.

Plus people…[Read more]

Hi Daniel

I am going back to the States on Thursday

You can buy without going there however I would always recommend that you do go over at least once. The reason being is that you want to know who you are dealing with. At the end of the day its your money if you buy blindly you may be in for a disappointment. Do your due diligence carefully on…[Read more]

That they at least believe that the market has bottomed. Now that can create some opportunities at the lower end of the market. It will be interesting to watch the market over the next 6 months. In Texas they are reporting the strongest demand for sales in 10-15 years. Now this may not be healthy because the market did not fall after the GFC and…[Read more]

Freckle

The hedge funds are currently buying commercial property and large apartment complexes between 2 and 50 million dollars. They believe that the market has bottomed in many cases they are paying full price.

When I decided to establish a business in Florida I had two things that had to happen.

Firstly I had to have ownership in the business because that way I am  accountable for what I recommend

Secondly we had to have a property management arm so that invest would know that there interests were being looked after.

Personally I have never ben to…[Read more]

We deal in commercial property in Florida and that can include apartment complexes. Now for this type of property we can obtain finance at around 60% with rates around 5%. This sort of funding is non recourse and is now readily available on commercial property. Now I am currently checking what can be done on straight residential finance. But…[Read more]

Bmt are great very professional could not go wrong

Believe me Buffalo was a basket case before Detroit

Buffalo was one of the wealthiest cities in the United States in 1900, now its one of the poorest. Its a bad place to invest

It will not effect your credit in Australia, however if you ever want to buy in a good market then do not walk. 

Buffalo is not a good market, whatever you do dont now go Detroit  

There are good opportunities in America but it is a matter of doing careful research first

For investing you should always look at around the medium value in an area. I would not invest in the high end however I would not invest in the low end either.

It will be difficult for them to chase you here but not impossible. However your credit rating will be ruined. How much is the mortgage on the property.

What you may be better to do is work with a developer. You both put up the land and the developer using the land to raise the capital to develop the site and you then share in the profit.

If you dont want to do this then I suggest you see a good local town planner and get them to get permits for the site then you can sell it to a developer. 

I dont always agree with Freckle and I think he is wrong about Brisbane. However I do agree with his comments about Perth. The market under about $850,000 is flying with properties selling withig 2 weeks of coming on the market. But if you look at many properties at say 1.5 million they are not really selling at all. That suggests that there is a…[Read more]

I agree with Jamie

I think the market in Brisbane is still undervalued but a lot of it has to do with confidence. I feel that the market could be as much as 10% under market value. As confidence returns the market will lift. I am actively looking for a development project in Brisbane

lol

I will take the sink holes over Tornadoes any day of the week.

What a disaster in the mid west. However it is something to consider when investing. After all they build Disney world in Orlando because you dont get a lot of severe weather

Hi Jay

I love Texas, however thats why I am now in Florida, its a great market with great potential capital growth. Especially when you compare property returns between Texas and Florida. There is bond to be more growth in Florida because it is coming from a low base. 

I don't think that the banks are locking in rates at present in the USA. As a foreign national you will not get rates of 3.5% you can get up to 60% on commercial loans at around 5%. 

This may of course change as finance is changing by the month. Some lenders will look at the strength of your credit rating in Australia as well. The only people…[Read more]