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success, I emailed again asking for membership refund and had reply from CEO who said he would refund membership in full.
Thank you for your understanding if you read this ……. very happy
4Sighted:
Thanks for your post.
At present all is going well and I have been very happy with service from HouseBuyers USA. The communication from US based and Aust based people has been fine and prompt.Will keep updating as things move on.
Yes the aussie addresses Melb,Sydney and QLD all gone.
I have contacted them requesting full membership refund. I did this a while ago and the company rep played the guilt trip, i would have to pay it outmy own pocket.
No much hope but have asked againI ened up buying with HouseBuyers USA and have found them to be totally professional.
Providing multiple option to look at , negotiating deal through to after sales i am still in contact with everyone there i need from CEO down.
Their response times has been very good and I have no issues with their service at all. MyUSA werent in the same league. Slow response times and a lot more hard sell. Dont try and hard sell a salesman ……. doesnt work !i must have been black listed after defecting to another company ……..
YGWYPF : thanks for some concrete information.
I am still a paid up member and received nothing. (only paid up member as they refused to refund the money …..)
interesting. Hope existing members are looked after
High Income,
I think your post is 100% on the money……… I looked at land inFlorida for under $5k a block (very long term prospect) and the returns in the midwest with very low chance of capital gains in the near future.
Kansas City is one place under going a transformation and is now more diverse ….not just heavy industry anymoreExcellent post
nothing on there website to say they are changing the business. As far as i am aware the Melbourne office was only "open to the public" for appointments anyway.
""In this case, it's a fact that they are just changing their business model it seems, I'm not judging whether that is a good move or not. just stating a fact. Good luck to them if it works out.""
This is the sort of comment i refer to …"its a fact …… it seems" if unsure dont say it
Jayman wrote:They are it seems, trying to do a phone service and have changed their business model, I think their Melbourne Office is only open part time on some evenings.How sure are you about your info Jeff. Certainly not defending MyUSA but casting doubt in peoples mind about a competitors business is a little unfair unless you know it to be 100% correct.
I too have had contact with buykcproperty. They had a property that was well priced and looked to be well presented (from pics i saw, didnt see in the flesh), but as per previous post it was gone before i made a decision on it.
They appear to know their local market very well indeed.interesting, the website is still functioning. But that doesnt mean too much i guess.
I must admit i were dealing with MyUSA and got cold feet when all the photos sentwere dated 2007 from memory.
When i asked for updated photos I were told this would be difficult due to tennant privacy laws.Also on doing my location homework the houses offered were in the worst parts of town. Some ranked in the 10 most dangerous zip codes in the USA.
In hindsight i am happy that i didnt proceed and the major reason we didnt was because the finance was taking forever to go through so we decided to walk away…..did lose the "membership fee" but better than losing the lot !
there will always be a mark up if a company buys and renovates to on sell. They will always add the renovation cost as well as a margin (profit).
I believe they do make good money on reselling but you are paying for the service and also it seems they work the prices out to acheive a gross return somewhere between 10 and 15%.
My thoughts are not aimed at any certain company but just in general across the board.I know according to Zillow (not a bible by any stretch) i am about 16K in front on enquity.
Equity on paper is worth nothing unless you plan to use it or sell the property.
From my position the current value is reasonably irrelevent as I have no plans on selling and the
cash flow means i am being paid to own the house at present.I too have seem places last sold for 10-15k being resold for 40k. But seeing detailed pictures of the before
and after you can see a fair amount has been spend. in your mid west snow prone areas a tripping tap in winter
can totally destry your plumbing system….not a cheap repair !Rosa,
We were advised to try and leave 30% of the income in a US account soley to be able to pay income tax bill at tax time. No reason why you cant take it all out but need to save the $$$ needed to cover your tax bill.
Rory,
I am planning to hang on to this property for minimum 7-10 years. If the rent is being paid i have no reason to want to try and sell it. I dont predict any capital gains on the property for some time.personally, I have no interest in living in my property. It is soley for investment purposes. There fore yield is what it about.
Capital growth ….not a big issue as i dont plan to sell it anytime soome.
The aussie dolar ….once again not a huge issue unless it goes to 1.30 and beyond.aussie dollars has retreated back to 105 cents to the USD drop of 5 cents in 36 hours. Coinsides with oil dropping 14% in the same time frame and reasonable drop in gold prices.
Minor correction or has it peaked ?
I think a minor correction
Hi Gaz,
We have set up LLC and bought our property in the LLC name.
I too were going with MyUSAProperty but switched camps. The LLC set up was half the price and the fees lower. I dont have the time to be “On the ground” chasing everything either. My property manager is in place. I have an attorny in place who has authority to sign docs on our behalf were needed.
Our place was just under 50K rehabbed and in a middle class area of Kansas City. 66% owner occ and close to everything to make it more appealing to renters.
So far so good. If we do buy another it will be in Kansas City again as i feel i know the areas and zip codes that are better than other….in other words i feel confident buying in this areaAll the best
AJAY: I dont have a loan attached to my purchase. Our property was aroung the $50k mark. We were going to finance and do 3 properties but decided no finance and 1 property as got sick of the even moving requirements to secure bank finance.
There are a few posters on here that will give better info regarding US finance ect .MAX:
I am not aware of any specific legal requirements to purchase but I have been advised that setting up LLC for purchase is the best way to protect yourself legally….
Other requirements will be US bank account and some good people on the ground to look after property management ect.Hope the info helps a bit
Hi Ajay,
I have had rentals in Qld before but this time wanted something with low outlay that generates immediate income. We purchased a renovated 3 bedroom house in south Kansas City Missouri.
After proprty taxes, management fees ect we clear about $700 p/m. 1st payment went into the account the other day.
I have not attended anyones seminars in the past. I have spent a few months reading up and studying Kansas City and bought in a middle class area 65% owner occupied close to schools major shopping complexes as well is easy access to highway to get to downtown area quickly.
We bought using HouseBuyersUsa and their service has been 1st class and so far so good.I believe every transaction is a risk but if you dont try you get no where !
Look at it long term your property pays its own way, you get passive income who cares if the values still down for 5-7 yrs ……. it costs you zip
