Forum Replies Created
i would say so. Extra cost to have tank pumped on regular basis. Maintanance and upkeep on system and bore (if not on town water).
Hate to think to tennant reaction to the tank overflowing ……….
I would hope those facts would be disclosed prior to purchaseTennants will always be a nessessary evil in this game.
The properties i am soon to settle on all have tennent in place and local (long standing) property managers
in place as well.
As with all investment / rentals having a good reliable property manager can make or break your stratagies
and income.
I would get some background on local property managers in your area and then decide from there. Cheap isnt
always the best way to go.Hi MelbGirl,
We are going through Melinda at Loans USA. They said they are using us as a test case with a new financier and that it would take longer to get through but LVR upto 70%. She has been no problem to deal with and was 100% correct it has sorry is taking a looooooooonng time to settle. It has been approved by all within the bank. They are now at the stage of valuing the properties
and we should hear sometime in the future.
This has been the only disappointment with the whole process. The settlements were originally booked for 20th October !what do you base your comments on Cuthberte. From what i see CA property is a lot more expensive giving lower returns. Growth may be better in CA but who knows.
From what I have read and seen Vegas has high unemployment and high vacancy rates at present. Thats enough for me to look elsewhere.
But each to there ownwhy, what is your reason for your comment.
Hi Buymore,
The properties we are buying all have the address of Kansas City (so i take that as the suburb).
All have current lease and have been rehabbed prior to leasing. over the 3 properties we are looking
at a net return arounf 14-15%. Our properties ranged from $47k to $59K. Zillow.com values all of them
well above what we paid so i am happy with the price and also the returns as we will pocket about $1k
a month for doing nothing.Hi All,
Update on our loan. The bank president has ok'd the loan and has now ordered valuations on the 3 properties to make sure they stack up (i am sure this will be fine). All indicates loans will go through ok. Only thing is it wont be until after new year.
The bank is a subsiduary of Fidality Bank based in Florida I believeHi ausInvertor,
Sorry for the delay.
We are purchasing 3 properties in Kansas City via My Usa Property.
This is a one stop service they handle everything from soursing property, LLC set up
property management and tax accounting as well as US finance and bank account set up.
I am happy with their service and the only hold up has been the finance in US. They are going through
a bank that will do upto 70% LVR . (smaller bank and does take alot longer than other finance options)Overall I have no problems reccomending MyUSAProperties . The 3 we have are all rehabbed and tennants in place
healthy returns and reasonably priced. (between 40-60k mark)Hope this helps
Rick
Hi Kccashflow,
Glad to here from someone investing in KC. Dont hear a lot about this area on here.
I am in the process of purchasing 3 homes in KC all the good positive cash flow. WE are hoping if all goes well to continue to
buy in KC.Hi Mojo,
I believe the costs are minimal ….about $300 to transfer. We are purchasing in my name (banks wont lend to LLC) then transfering ownership to LLC on settlement. This is for properties in Kansas City Missouri
i believe most company source properties from wholesalers who buy the properties very very cheap. Do the rehab and then sale them for a profit. I believe (my opinion only) the companies over here are more or less buyers agents with the bonus of being able to assist in the full set up of legals finance bank accounts ect. I am sure you can buy direct from the wholesalers but are them left on your own to get the rest of the puzzle sorted. The buying of the property seems like the easiest bit getting the rest set up properly is the hardest bit
Hi Jimmy,
I am currently nearing settlement with my USA Property as we speak. Buying 3 properties in Kansas City Missouri.
I have found them to be professional and responsive. All 3 properties are rehabbed and have tenants in place. Each property
showing a good rate of return.
Any questions or concerns have been answered in fast time. There service covers all areas of ownership for tax/accounting advise (establishing LLC) down to assisting in obtaining finance over there. They now have permanent office in the USA as well as multiple office here.
My inital contact was with Tony. There are happy to talk to to you about the process prior to you putting any $$ down. [email protected]All the best with your investing
Rick
Hi Grace,
I am going through My USA Property. They have been a professional business to deal with and are a one stop shop.
They can assist with finance here and over in the states, accountancy and taxation advise as well as establishing LLC.
We are purchasing 3 properties at present which are all pre-tenanted and all rehabbed.
The slowest part of our journey has been the finance in the USA as the banks over there are obviously treading carefully will all loans due to the current economic situation.
I have no problem saying to get in touch with the guys at my usa property. My first point of contact was Tony.
I hope your investing goes wellHi All,
Must agree with melbourne girl. My finance is being handle by melinda easy to talk to and knows what is going on. Unfortunately I were dealing with adrian initally. So my settlements have been delayed and Melinda is now having to collect the mountains of paperwork required by the us lenders. All will work out and communication from Tony and Melinda has been 1st class
Hi Miniman,
I take it you are US based. Just email tony ([email protected]) and I am sure he will be intouch.
I know speaking to tony and Andrew Allen that the Florida office is brand new so might be some teething problems… i dont know.
I know i have found all my contact points at my usa proprty have given swift responses.Hi Charlie,
Simple if YOU dont think there is any value in the service then dont YOU use it. You get nothing for nothing. If you use a broker to by a car or buy shares do you think they do it for nothing ?
Car brokers ask fees from clients as well as suppliers on some occasions….double dipping ??
Bottom line if you done see the value dont do it. Let others make their own decision on what is or isnt value.
Personally, having been put in contact with people who can assist in LLC set up, bank account set up and tax accountants, us finance contacts ect seem to make things a lot easier me and it is convenience I have to pay for.
Hi Kimbopumpkin,
I am going through MyUSAproperty.com.au for the 3 houses we are purchasing. All is going well and we should be closing soon.
The houses we bought have been fully rehabbed(with photos) and are currently occupied.The $500 is an itial fee. Prior to paying a cent you can have either face to face or telephone discussion with then where they outline everything and it is all clear what you have to pay for what services. They can assist with finance here and USA, setting up american bank accounts, setting up LLC and liasing with closing agents, yourself and attorney to make sure all the i's are dotted and t's crossed.
To be honest there is alot of paperwork to go through, but the properties look good and the information given on the areas have matched with my own research.
I feel confident with my first stap into US property market. I have owned investments in Australia and they were money pits.
I am looking for cashflow and long term 5 to 10 yrs some capital growth to perhaps fund more purchases …who knows.
Kimbopumpkin contact tony at my usa properties on [email protected] to get more info.
contact Tony at [email protected]
He will organise a free disussion with you outlining things before you make any
commitments.
Let him know Rick gave you his emailWell, nearly at the end of the tunnel now.
We have returned contracts on 2 properties and in the processing or reading and signing off the third.
Once done just a matter of settlement taking place and we are all set.
No real dramas during the process and any minor issues have been attended to quickly and professionally.Hi APerry,
I can say 100% i am not purchasing in either Buffalo or Detroit. These are ghost towns from what i have read.
where i am purchasing appears to be a stable city and from my own investagating i am happy that it is not a boom bust area either.
I have comunicated with people in this area and they say the same thing. Once again I think it would be folish to go into anything blindly relying on the advice of someone who makes a living by "Selling" an item or service.
Does anyone believe local real estate agents 100% or car salespeople ? No they do their own research and talk to friends and family to form their opinions of certain areas or car brands. I cant see how this is any different.
