Terryw wrote:
hi CatalystYes, renovation and selling would be good. But I took the term flipping to mean just buy and sell straight away – possibly without even settling on the property.

I hear that some people arrange an early access clause so they can rennovate and do just this.

Absolutely you can (if we are talking about Australia) give your place away as a prize in a lottery, however you need to check the applicable laws in your state in regards to lotteries.  for my state it is: http://www.olgc.sa.gov.au/default.asp?page=lottery.lottery.htm&menu=lotteryyou may want to review the federal site: http://australia.gov.au/top…[Read more]

Great stuff Kyler, in the hunt for information, this kinda stuff is hard to find / verify and i appreciate your help please PM me any details you feel you cant post openly.

Wow .. when i started this thread it was to get an idea of who deals in what area's of the property market in the US and who has some people who would stand up and say they are a decent sort.I underestimated the competitiveness and professional pride prevalent in the industry.Is there any way to salvage this, there has been some interesting and…[Read more]

Ah i found the place, looks like it didnt sell at 9k so it was re-listed at 8k http://www.realtor.com/realestateandhomes-detail/76-Flower-St_Rochester_NY_14621_M36465-50535?ex=NY530827209&source=web

kylermrice wrote:
That thing is a beast, they probably were going to make it into a duplex if there was two meters.  The plumbing and electrical will be expensive to replace if u have too.  That and it will be lath and plaster, always a pain in the butt to work with.  I hear the taxes are high as hell in New York also.  I agree with Jay tho…[Read more]

jayhinrichs wrote:
pat007go to http://www.bid4assets.com you will see all sorts of low priced real estate.Also the last thing you want is a huge house in the NE the heating bills in the winter kill the renters…I learned this the hard way with one I bought in Chicago…We prefer to buy where it does not snow and freeze… those conditions are tough on…[Read more]

unfortunately the one i was looking at previously has sold and was removed from the site. but there are plenty of similar places out there. such as : http://www.realtor.com/realestateandhomes-detail/367-Murray-St_Rochester_NY_14606_M30568-91526?source=web6bed 4 bath or so it claims.. likewise they only do external shots of the propertyprevious tax…[Read more]

On that note: http://www.foreignnationalmortgages.com/has anyone dealt with this group before ?

Alternatives like the following are interesting. http://www.bobvila.com/articles/316-home-sweet-container/pages/1there is also a company that created small self contained units and ships them fully furnished, i believe there is a project i heard about 1-2 yrs ago ragarding a high rise being constructed of these close to a university for student…[Read more]

Bear.. your story could so easily be mine too. Wife, 3 kids IT contractor .. only diff is i dont own the company and only get around  1/4 of your wage.I know i would be happy in your position as id have the leverage to invest and then through that persue other things in life like more family time. there is a saying: without seeing the darkest…[Read more]

well i am eligable for dual citizenship with the UK, would it be worth persuing that ?or does the issue apply to any foreign national. To clarify i'd be buying a US property outright in cash, then using an american LLC which would as an american company take the loan against the property. aim is to get the loan happening in America at American r…[Read more]

Still.. being a foreign bank to Australia , they may be more inclined to loan on overseas investments.worth keeping an eye on i think !

anyone ? not even a  "no dont do it because…"   seriously if there have been disasters you have been through with this kind of thing id like to hear all, so i may educate myself.or on the flip side.. if you bought that sucker for $1 and made a fortune .. there would be a lesson there too.

So your going to stick your mum, in what an engineers report lists as a very expensive potential fire trap?i think your a little bit in love with the place.., i understand.  you may need to do some more looking around other places  and cool off a bit im thinking

jayhinrichs wrote:
far to complicated and James bond ish for a simple US property investment

Complicated does not put me off, after all being the first investment it carries alot of risk and hopes, if it fails some people will be a long time in recovering sufficient capital to try again if ever.Main thing im looking at is –  if it would…[Read more]

Here is a related  idea that i'd like to see those in the know to comment on as it is directly relevant.i figure  you do not neccesarily need to get the loan from a USA bank or a lender in the USA , but  that other countries may have a more favourable interest rate or tax conditions for individuals, businesses or a corporation if you have reg…[Read more]