Thats great Richard

Clearly finance is getting back to normal. I think it is great that we have someone like you who has this experience and Knowledge.

Jason

I do not care. If you have information about Texas please post it. I do not comment on Detroit to score points. I do it because I believe it is not a good place to invest. I do not rely on this forum to get clients. However if you make statements that lead investors to put there money into Detroit they should also look at the down side. If you do not like that then thats to bad.

Even with your comments about scare tactics if the information I am suggesting is wrong please put your point of view. If people disagree with my point of view thats great as well. People should question what is being said because it is there money. This topic is about positive cash flow in the USA. You are also pushing your point of view to sell your business. I do not see you pointing out the risks of investing in Detroit.
I have also been contacted by people who have lost money by buying in Detroit and also in Texas.

If people wish to make comments on a public forum I will also respond. If no one from this forum wants to deal with me but at least consider what I am saying I will consider that a far trade off.

Current figures in Detroit

Unemployment 29%
Property vacancy 19%

Is currently rated as the most dangerous city to live in the United States

I am sure that like anywhere there are opportunities there. However if you are not in the group you can get into trouble very quickly. Their are must better and safer places to invest in the United States

Another example of why this is the worst government we have seen in generations.

Howard introduced GST put it up to the electorate and got it up at a large political cost because Howard felt it was important.
This government take up a couple of suggestions out of nearly 200 recommendations. Great reforms.
Time to change government

Well Jason

A great person to deal with on this matter is Richard Taylor who is a regular poster hear. His experience on lending in the US is first class. I also deal with several people out of Houston which Richard also has.

However banks will not lend on $30,000 to $50,000 properties because they deem them to be high risk.

You should look at Port Adelaide

Huge potential, will go up a great deal over the next 10 years and offers some of the cheapest water front property in Australia.

Clearly you need to have an accountant in the United States. You are earning money there and will need to lodge a tax return. You should also be buying properties in an LLC or another suitable structure. You should seek advise from a suitably qualified accountant. I have a great one but they are in Texas.

They do work very well in America

I fully agree with Jason

Do not trust people especially agents on the ground in the US. It is common practice for them to buy properties at one price and on sell them on to an investor for a much higher figure.

You either need to deal with someone who has the experience or be prepared to spend a month on the ground. If you wish to take the easy way out do not bother.

This is the worst reserve bank board we have had. This is the same board who nearly wrecked the economy in 2007. Now after announcing a gradual increasing of rates we have had 5 increases out of 6 meetings. Gee that is gradual.

So who will this effect.

Lets look at all the people who as first home buyers got the grant and in many cases who were mortgaged to the hilt. My predication is that this year in outer areas we will see loans default at in excess of 20%.

If rates are raised to 8% we will see a correction and a dramatic slowing in the economy.

This is a dumb decision