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propertybuyerusa
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@propertybuyerusa
Join Date: 2012
Post Count: 4
October 3, 2012 - 7:05 am
Freckle and others,
Some very valid points and yes indeed the US Middle class is dwindling. It needed to happen and is!
But you need to ask yourself is this a bad thing. We need to get back to production and the only way to get competitive is lower wages and a middle class who has got fat and lazy over the last 30 years getting hungry and ready to work again. We have far superior Education, tech skills, infrastructure and huge domestic demand in comparison with our competitors now what we need to cheap labor and that's what we are getting!
Read this and you will see what will happen to the real estate market in America over the next 10 years and is just starting now.
http://in.mobile.reuters.com/article/idINL2E8K46VK20120904?irpc=932
That's right people. Wall St used to lend people money to buy the homes and they pay them interest, now they will rent them the homes instead. And just remember once they make securities out of them they will be able to sell them off at a 5% yield instead of a 10% that they are currently buying them at meaning 100% growth Its awesome isn't it.
You also need to take into account that the USA Is the only country in the world that can print money and not get hyper inflation giving us a competitive advantage. US govt bonds are still considered the safest investment in the world meaning we can keep interest rates low for long periods and keep those in negative equity happy and not feeling the pinch.
If you combine that with the fact we pretty much control the IMF, World Bank somewhat the UN and all oil and most commodities are traded in US$ you can see why the US is a good bet. Oh and to top it all off we have an army 3x as large and way more advanced than anyone else in the world.
I really think that a lot of people on these forums do hit and hope a bit and there is a hell of a lot of different opinions most of them very uneducated. It is all somewhat speculative at the end of the day but i can assure you that Wall St knows how to make money and if they are doing it there is a pretty good chance that it will be successful, maybe not for the greater good but certainly for themselves. I actually wrote a response 3 x this long but deleted it by accident so have to cut it short.
I hope you get my point and here are a couple more articles if you have any further interest.
http://www.tampabay.com/news/business/realestate/blackstone-to-buy-1-billion-worth-of-tampa-bay-homes-for-rentals/1252624
http://www.bloomberg.com/news/2012-08-23/moody-s-rental-home-bond-grades-may-be-restrained-by-data-limits.html 
propertybuyerusa
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@propertybuyerusa
Join Date: 2012
Post Count: 4
October 3, 2012 - 5:38 am
Vegas gas some great buying, just be careful not to be sucked in to new looking condos that are along way away from renters. Think location and also make sure you double check pricing as there are a fair few cowboys in that neck of the woods.
As far as opening a business account you need to bring in the articles of incorporation for the LLC along with ID for the managing member. You should also bring proof of address as i have brought investors into Chase last month and they requested it although it was on there drivers license which proved to be acceptable.
Nigel, You say you do commercial property in Fl. I own a bit around Boca Raton. What have you got going on there? Also i on your website you can get 70% loans on commercial property. Is that in Florida and for foreign nationals if so i would be very interested in hearing about it as I have a fair few investors that have bought and would buy again if that is the case.
propertybuyerusa
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@propertybuyerusa
Join Date: 2012
Post Count: 4
October 3, 2012 - 5:11 am
Testing
propertybuyerusa
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@propertybuyerusa
Join Date: 2012
Post Count: 4
October 3, 2012 - 4:20 am
Hi Everyone,
I am a property investor that lives in Atlanta and buys to hold as well as sells to investors. Until now i have focused mainly on US Buyers but due to overseas and especially Australian demand i have changed course a little.
As far as your question in regards to Rehab costs this can vary greatly depending on who you get to do the job. A good example of this would be a project that i recently finished. When and if you use a licensed and insured contractor prices (and usually quality of work) are both a lot higher. I hot a quote for $14500 labor only on a job with similar specs to your above request. You need to add in about $6000 for materials and you are just about right. The other quote i got was from un unlicensed immigrant workers and it was $8000. The risk you take with this is that standards of workmanship vary greatly and its a bit of a luck of the draw until you can build up a team you know does the right job. It is then a matter of constantly checking up on them to make sure they are keeping the standards up.
The other issue you run into whit unlicensed contractors is Liability. As they usually (always) don't have genuine insurance if the worst does happen you are proverbially screwed. Also if you need to pull permits then you need to have a license so that i another thing to consider when looking at the job you are undertaking.
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