MJ

Yes the finance we organize through private lenders.

In terms of the process we look at mainly banked owned property. So if the property looks good from the street we will make an offer subject to a 15 day due diligence period. We then send through one of our builders and a roofing specialist and providing he costs are coming in as predicted…[Read more]

Hi Jmsrachel

Yes your numbers are about right its based on what you invest so if your 50% deposit was $80,000 and your renovation costs were $20,000 we would borrow the other $80,000 through a short term lender and you will fund the $20,000 for the renovation so yes the 20% is based on what you put into the deal its a cash on cash.

We set up an…[Read more]

We do not buy anything unless it provides a 20% net return on the cash invested. In terms of the times we are now saying four to five months from the time we locate a deal. It may well happen quicker than that. We now only bu if the properties only require a cosmetic renovation. We did make the mistake of buying some deals that needed permits and…[Read more]

https://www.youtube.com/watch?v=A0eB9owh01k

A brief video inside one of our homes

The minimum investment in a flip would be around $50,000 US and for the hotel deals around $100,000 but could look at less.

In terms of existing deals we are working on one at present that the owner is prepared to do vendor finance for 25% down so we would need 1.5 million to raise the funds. This is a 52 unit hotel complex with a restaurant that…[Read more]

Yes I agree Judith. Florida is heading in the same direction as Texas with large numbers moving there it is putting upward pressure on rents. With the economy improving there it is a great place to invest.

I also spend a lot of time i Florida and have a full time business partner in Orlando who is fully licenced. Frankly there are a number of great places to invest in the United States including Florida and Texas. With 79,000 vacant buildings and a bankrupt city I cannot think of any good reasons to buy in Detroit. There are a lot of other places…[Read more]

Jay is correct I do not think you need to complicate things to much

Below is an interview I did as a webinar with Emily Ray a very good accountant based in Florida that really knows her stuff when it comes to international investors it has her contact details at the end

https://www.youtube.com/watch?v=j7dR5vMihSY

In terms of investing your…[Read more]

Generally for tax reasons it is better to set up an LLC in the state where you are purchasing. There are often different costs with some states charging heavy penalties.

Hi Jay

When I first got involved they were selling Buffalo now its Detroit. However what I really dislike is most of the marketing companies deal with a so called Wholesaler often not even based in the city where they are sourcing properties and in many cases the Australians pushing this service have never been to the United States. I was…[Read more]

I have a great accountant who is in Florida private message me and I will supply the details

I must admit we use OZFOREX after having some poor experiences with AFEX however unless you intend to go to America and invest a lot of time and money to do due diligence I would strongly advise you to either not invest or work with someone you trust.

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However although the dollar has dropped keep in mind that all…[Read more]

Hi Dean

I think you are dead right

I also encourage people to stick to cities. I am personally based in Florida and have a partner in Orlando but there are other options.

One word of caution stay away from one industry locations. A big pus in North Dakota in the mining areas. I have already dealt with a few people who have lost most of there…[Read more]

I offer a mentoring program and deal directly in Florida

I keep hearing about people paying $20,000 pls from so called US investors.

I am sure that Engelo and Jay will agree with me

If you want to invest in America do it with trusted people on the ground

Unless you intend to spend 6 months on the ground doing your own research you are wasting…[Read more]

I have been approached a number of times and asked would I be interested in selling property in North Dakota and I have always refused to touch it. Anty property market that is reliant on one industry it taking a huge risk and with oil at $46 a barrel many will lose a lot of money. It may look good on paper but many Australians brought in mining…[Read more]

We have no problem opening US bank accounts for clients. Not all banks do it

The banks we use require a passport and drivers licence to be notorised. If you go to the US embassy on line they list Nortories in all states.

That is important our business in Orlando is fully licenced. Make sure that whoever you deal with is qualified. More importantly look at there experience and track record.

If I could add to Ivan comments the most important thing about investing in the United States is with you deal with.

Part of the Problem is that they Americans have a ca do attitude but not a cant do attitude and what I mean by that is whoever you talk to they will tell you they can help you. Often you only know that you made a mistake when you…[Read more]