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  • Profile photo of Nigel KibelNigel Kibel
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    Jason

    Before you were selling or sourcing in Detroit now I see you are everywhere. If you do not use a wholesaler how do you deal in so many markets

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    Profile photo of Nigel KibelNigel Kibel
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    I know both Richard and Alistair well. Both are great brokers.

    Alistair is a commercial broker and able to finance large development projects.

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    Profile photo of Nigel KibelNigel Kibel
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    also Declan i notice that most of your properties are in Detroit. Could you please explain why Australians should invest in this third rate market. Perhaps I am missing something

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    Profile photo of Nigel KibelNigel Kibel
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    You should question anyone who promotes US property and has never met the suppliers or been to the cities they are promoting

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    Profile photo of Nigel KibelNigel Kibel
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    The first thing I look for on a website is who is behind the company. I am always wary when a website does not have a single name about who is behind the business.

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    Profile photo of Nigel KibelNigel Kibel
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    I agree Jay

    There are much better markets to invest in so why take the risk

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    Profile photo of Nigel KibelNigel Kibel
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    http://www.ushomes4wealth.com.au/

    Extreme caution

    This company has been posting in a number of posts

    There properties are in Detroit

    I have asked why anyone would buy in a market that has lost 25% of its population in the last 10 years

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    Declan

    All your properties are in Detroit a city that has lost 25% of its population in the last 10 years. Please explain why any Australians should buy in this second rate market?

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    Profile photo of Nigel KibelNigel Kibel
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    The other problem is that people do not do there own due diligence. It does not take a lot to realize that a city that has lost 25% of its population ln the last 10 years like Detroit are not good places to invest.

    Make sure that if you are dealing with someone ask them what is there experience?
    Have they been to the city?
    Have they met the suppliers?

    Sounds like simple questions but you may be shocked by the answer.

    If you are going to invest you should travel to the city of your choice at least once to make sure your suppliers are there and that they can supply all the back end services.

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    Profile photo of Nigel KibelNigel Kibel
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    I love website that do not talk about who owns or runs the site. I believe that if you are asking people to invest with you you should have the confidence to tell everyone about yourself and your knowledge and experience.

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    Profile photo of Nigel KibelNigel Kibel
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    The problem is that many of these people who sell these properties have not only never met there suppliers but have never been to the cities where they are getting properties for there clients. I am not sure how you can advise this. This is especially true when you consider a few wholesalers are supplying most of the properties.

    If you are going to buy or even consider the US you should travel and see it for yourself. Make sure that however you are dealing with is on the ground and working in the city where the deals are located. Also make sure that property management is offered.

    Finally consider will your money dio more in America than Australia and I am not just talking about prices.

    Personally I am now looking at larger apartment complexes and commercial property.

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    http://finance.yahoo.com/news/pf_article_113083.html

    sorry try this

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    http://finance.yahoo.com/news/pf_article_113083.html

    This does show all the major cities in Texas are in the top 10 boom cities for the next decade

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    Profile photo of Nigel KibelNigel Kibel
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    I am not competing with you nor do I claim to understand every market in America. However what we have seen in Texas is very small fall in property prices since 2006 compared with nearly 50% in markets like Florida or Los Vegas

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    Profile photo of Nigel KibelNigel Kibel
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    Sure Alex
    Will do, It is difficult to know what is best. However given the returns I can make investors through development in Australia it is difficult just to source $30,000 properties that do not give solid returns and offer little or no growth. What got me into the US market in 2005 was travelling to Texas on behalf of a group to buy a 105 unit 3 million dollar complex. As you would know Alex you can get commercial loans a lot easier than residential so it mean that investors can leverage in the United States

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    Profile photo of Nigel KibelNigel Kibel
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    There has been around $650 million spent in the US by Australian investors over the lat 12 months. Many of the suppliers in America are wholesalers. What is also important is that many Australians buy cheap property. In my opinion I do not understand why Australian buy properties at $30,000 in cities like Detroit. If you really want to invest in the United States you should travel there and at least try and understand the market for yourself. Personally I am going to look at some commercial property.

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    Profile photo of Nigel KibelNigel Kibel
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    Clients that invest in our developments make 40% on there money since you are asking. They are all in inner city suburbs of major cities

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    Profile photo of Nigel KibelNigel Kibel
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    Why would you invest in Horsham

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    Profile photo of Nigel KibelNigel Kibel
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    thats right and every city in Texas are also in the top 10 with Austin at number one

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    Profile photo of Nigel KibelNigel Kibel
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    A valid lease will always come before anything else. So if you buy the property the tenants have the full legal right to stay in the home until the lease expires. You may be able to negotiate however do that before you commit to the property.

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