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  • Profile photo of Nigel KibelNigel Kibel
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    Hi

    http://www.Realtor.com is a good standard site for looking at prices and areas and at least geeting an idea of what you want for your money. It depends on what areas you are interested in.

    Nigel Kibel | Property Know How
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    Profile photo of Nigel KibelNigel Kibel
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    BTM are a great company. They were a young group of guys in their 20s, bit older now. They have a great reputation. Whenever I have delt with them I have found them to be great.

    Nigel Kibel | Property Know How
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    Profile photo of Nigel KibelNigel Kibel
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    I also love the fact that they claim to have god guiding them. If what the article says is true and the information is nothing new then they should rot. They do deserve to be dealt with fairly however and we should see the evidence of what has happened. Not all the people mentioned may be guilty. This proves again that you should always do your own resaerch before parting with your money.
    We should encourage others who have delt with these people to come forward.

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    Profile photo of Nigel KibelNigel Kibel
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    If you read the latest article on the Jenman site that has plently to say about Westen

    Nigel Kibel | Property Know How
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    Profile photo of Nigel KibelNigel Kibel
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    I was attacked a few weeks ago on this site for dare mentioning anything about Westen. I do not always agree with Jenman, however if you take money from someone based on the fact that you are giving them advice and the property turns out to be a dud, you should take responsibity for that advice. Westen states that he has not adviced anyone to buy in New York state since 2005. WHAT CHANGED? How many people brought their before 2005 before it was discovered that it was a bad place to invest. 
    I spent most of last year in the States. Although I brought a small complex in San Antonio I did not buy for anyone else. The reason is that until I am comfortable with the market I would not expect anyone else to buy their. I am in the process of looking at other areas. Once the end reasults of the sub prime market become more obvious I will go back andf review the market.
    If you are interested in the states seek advice from a local accountant, solicitor and finmance person. Also put the time aside to go and study the market for yourself. The rewards can be great, but there is downside for  the unaware investor.   

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    Profile photo of Nigel KibelNigel Kibel
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    You can also try Texas, however cheap individual houses at around $50,000 are often in slum areas. If you are interested in slum areas the people in the Jenman article will help you.

    My suggestion is that if you want to buy in the United States do you own research, spend time there. I will look to buy again next year in Indianapolis and Texas but small apartment complexes. By the time we get into the first quarter it should become clearer about how the subprime issue is effecting the US economy.

    Be very careful about the so called experts I have seen first hand some of the slums people were sold into. If people buy using your money to research a market that is wrong and if its proven that people have lost investors money based on that advice they should be put out of business.
    If interested find a good US broker, an accountant and a solicitor, before you do anything else. If you are not prepared to go there to see the market first hand then dont bother investing there, after all its your money do not throw it away. 

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    Profile photo of Nigel KibelNigel Kibel
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    Once again purfatter or whatever your name is since I do not know who you are I dio not care for your views.

    What I would like is for people here to share both good and bad stories about the USA and who put them their.

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    Profile photo of Nigel KibelNigel Kibel
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    Property management is also a serious problem in the US. Its a long way to travel if something goes wrong, Heidi Steger is also great with finance. [email protected]

    She comes highly recommended.

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    Profile photo of Nigel KibelNigel Kibel
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    Just for the record

    I spent much of last year in Texas. I brought property for myself however I did not buy for anyone in the early stages until I fully understood the market. I do not use other peoples money to research the market I use my own.

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    Profile photo of Nigel KibelNigel Kibel
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    Thanks for your comments Hux but people who hide behind a fake name mean nothing to me nor do you no anything about me.

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    Profile photo of Nigel KibelNigel Kibel
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    Perhaps Western is over there looking after all his happy customers.

    When you sell slums it works out well.

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    Hi Luke

    I am currently back in Australia, but I am told by many that ther market is strong in San Antionio. There is no doubt that there will be some great buying opportunities in the United States over the next year or so.

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    I think the nature of the property cycles are changing, for a number of reasons. We have an ageing population. We will also only have a small numvber of people entering the work force after 2020. Infact according to government estimates between 2020 and 2030 a total of 140,000 will enter the workforce. Last year there were 175,000. In other words only around 5% compared to today will be entering the workforce during this period. So many people suggest that all we have to do is increase immigration, however there will also be huge demand on labor from all Western countries in the future. So the question is what will this do to demand on property during this period.

    In terms of the current market we are now seeing a slow down especialy in the outer suburns of Australian cities. The main reason for this is the sheer number of properties current becoming available for sale. The market to a large degree has been driven by pent up demand and a lack of properties for sale. I would expect even more properties to arrive on the market once the election is over.
    Expect a huge volume of property for December.

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    Profile photo of Nigel KibelNigel Kibel
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    If we go back to 1990 which was the Australian depression. There was a downturn in the property market brought about by the drop in commercial property. Unemployment hit 14%. Even then we did not see a dramatic downturn in the residential markets. Returns even in areas such as Camberwell were over 7%. That was with interrest rates at around 17%.
    Today we are not in a recession. There is no doubt that the market is slowing with the volume of property currently on the market. However show me the evbidence of a collapse.

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    Without a doubt you are better to look at an apartment or unit close to the city. Currently 25% of households have only one person. It is predicted that that will increase to 35% over the next 10 years. Also consider that according to Melbourne 2030 the population will inctrease by at least another 1 million people. In the future if not know people today are looking far more at lifestyle than anything else. In my vierw outer suburbs will only get less popular. Most rental gain is in the city and inner city areas. This is a trend that will continue.

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    I agree with Simon buying second rate property is a waste of your money. Unless you get great returns you are better off buying inner city properties. I would stick to Melbourne Sydney and Brisbane. Melbourne at the moment is doing very well. According to the 2030 review Melbournes population will increase by 1 million people. I would look at inner city areas and even some off the plan deals.Because I believe the market will only increase over the next few years.

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    In Victoria and only Victoria the stamp duty is only based on the land value. If the developer is not charging any stamp duty then it is likely that they have loaded the stamp duty onto the price.

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    Hi Vicgirl

    It is http://www..piaa.org.au

    I work for John Hopkins group. John was one of the founding members

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    Profile photo of Nigel KibelNigel Kibel
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    If it sounds to good to be true it normally is.

    Where do the funds come from. Are big profits built into the property.

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    If you had asked me two years ago about buying off the plan I would have said no. However the market is currently strong and it is likely that anything you buy today will go up. Provided that the project has bank valuations based on todays prices. Only buy if you are looking to buy long term. Then if it goes up it is an benefit.

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