Why would anyone be stupid enough to buy a property through ebay sight unseen.

I am currently in Texas and I would not buy a property either for myself or a client unless I had inspected it.

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

Yes it is true on paper. However you have to remember that you are not in the US tax system. Also banks will only lend you around 70% which means that you will have to fund around 30% with either cash or a line of credit. If you buy really cheap properties such as in Buffalo you will be lucky to get finance at all. Once you buy a property you wil also find that property taxes are a lot higher than Australia. So a great return can be pulled back dramatically. Property management can also be difficult. I am heading over the the United States tomorrow to establish a property management division for a company their. We will also be buying forclosures and apartment complexes. Many of these services will be established for American investors however there are still great opportunities for Australians. It is simply a matter of understanding the rules.

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

I think it depends on what you are try and what you need to achieve. My personal view is that these areas are over priced. They may have gone up over the last few years but today the rental returns are not that great and it is unlikely that there will be much in the way of capital growth.

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

The secret is to buy in good areas. The only problem that I came across is that property taxes in the United States are high. An example, if you buy a house in Texas for about $110,000 your property taxes may be as high as $35000-$4000 per year. The reason is that out of the $4000 as much as $2000 is for scholl levies. In places such as New York State that taxes are even higher. In terms of loans for a standard housing loan you are looking at around 70% lend in Texas. Even good yield drop with the taxes. I am going to Texas next week. A company their is bringing me over to help establish a property investment and manangement division. They already buy a lot of forclosed properties and have been involved with us in seeking to acquire apartment buildings.
The advantages are that with apartment buildings we form syndicates to purchase. We are only buying established buildings and for that reason the banks look at these as commercial investments and will lend around 80%. The returns on these buildings and the potentional capital growth are great.
Forclosed properties mean that you will buy for a large discount established properties. There are a number of pitfalls in doing this and you really need to understand what you are doing.
I agree with Rick, there seem to be a number of people on this forum who are quite happen to test their beliefs with your money. Many who have invested in upper state New York now regret it. Either go yourself or get involved with people like us who are prepared to spend their own money and make sure that we have the people on the ground to back you up. In terms of finance speak to Alistair Perry on 04077 87313 and he can assist you and talk to you about the benefits and pitfalls and of course finance.

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

That sounds high for that type of product. Where are they?
Generally with these types of investment you will not get little or no capital growth. Because these properties are deemed commercial in many cases you will only get around 60-65% funding. If it sounds to good to be true it probably is.

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

I find that to do a joint venture or syndicate it should be for a larger project. If it is a development project you need to feel comfortable with who you are working with.
I have been involved in a syndicate to acquire an apartment complex in the United States. It allows buying power and greatly reduces the risks involved in going it alone.

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

Hi

If I was 20 again and I lived in Sydney, I would rent and purchase an investment property. Even consider buying in another city or country for that matter. Because of the rent coming in it will enable you to purchase a more expensive property than you could otherwise afford. In Sydney it is certainly cheaper to rent than buy. So enjoy your lifestyle and buy an investment property. If you still live with your parents then all the more reason to invest.

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

Thank you Derek

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

This shows the need always to research what you are doing very carefully. I would suggest that if you are wanting to do your own development then you should appoint from day one a town planner who are experienced with getting permits through. Likewise you need a solicitor who understands about developing. Most conveyencing people do not have the knowledge or the skills to assist you. You must think of this as a business and the people who you hire can help you make or break a deal. They could also have checked all the documents and authorities before you purchased the site. I would suggest that your speak to Alistair Perry, who is often on this site. His family business Perry and associates and a large town planning company.
There number is 03 9662 1999

If you are wanting to develop but wish to have someone help you then you cannot go past dealing with Michael Yarney from Metropole. I have know Michael for a number of years and he knows there stuff. You naturally pay for their services and you do a town Planner. But you have to ask the question by doing it yourself how costly has the exercise been?

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest

If you need a good agent who will give you straight forward and honest advise talk to Gavin Herridge at Harcourts in Christchurch. Gavin was a police officer for many years before moving into Real Estate. I have delt with Gavin on a number of occasions and have always found him great to deal with. His contact number is 03 358 2972 his cell is 0274 610 333. Tell him I recommended him. I do not ask or recieve any commission or referal fees. he is just a good guy to deal with.

Nigel Kibel

http://www.propertyknowhow.com.au

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest