Hi Streamline. Well done. From someone who used to be on this forum a lot…I know this is something you have wanted to achieve for a while so again well done. I am not sure what the laws are like in Florida for executing the documents but in my past experience dealing with Texas banks….the mortgage docs needed to be signed either at the US Embassy by a Notary or I had to get a Notary and an Apostille seal from DFAT….again not sure about Florida.

Cheeves,

Yes some arguments going to and fro and at times can seem a bit childish. What you have to appreciate however is that Freckle is playing the devils advocate. Nigel is presenting an arguement why we should buy in Florida…specifically the product he is trying to sell. Freckle is on the other side and pointing out that no factual evidence has been presented to date to support and backup their claims.

I'm not looking at Florida but from someone outside looking in….Freckle is presenting the more convincing story….be it right or wrong !!

Search past forum posts to get some idea of who your asking about. Unfortunately the forum moderators removed some comments….the last one was deleted was from someone who had some very interesting comments about their supposed New Jersey office.

https://www.propertyinvesting.com/forums/property-investing/overseas-deals/4345304

Todd,

It's amazing how many experts have come out of the woodwork….all talk the same talk…must be a school teaching this nowdays.

My first warning sign is that the website doesn't tell you any addresses. The second warning sign is that they charge you for their "services". They make out that it's all difficult to invest in the US and despite all the smokes & mirrors you will make a mistake if you don't employ their services….just to justify the fee payable of $5995. That's a whole lot of money for information that you can obtain yourself free of charge.

Second warning sign is that it seem to be small midwest towns she recommends. We are talking low income area's that have been dying for decades so how do you intend to actually make money…what's the exit strategy ?

This is just another middleman company and all they have to offer is contacts they have. Deal direct with the companies based in the US.

Nigel,

Lets put the numbers out there for all of us to see. I just don't see these sorts of returns as viable or ongoing for commercial deals. I know you worked with individuals in buying SFH in San Antonio so are you now saying to these investors this isn't the way to go ?

I have some business/investment partners in Houston and they are very experienced in commercial deals. I am presently sitting on some vacant land in Houston Ave (about 1 mile from downtown Houston) in a JV where in the years ahead we plan to develop a commercial building. This is in Houston's historic first ward where almost all of the housing has been bulldozed and replaced by shopping centres and office buildings & new townhomes. Running a ruler over the numbers the best we can expect is a cap rate between 6-8%.

Then further out we developed a 2.5 acres lot and have a 2 story medical/office building behind the new Texas Children's Hospital. Same sorts of cap rates around 7%.

Personally I can't see too many Aussie's taking the plunge in US commercial real estate despite the suggested returns. Aussie's are more akin to residential property investment and not many invest in commercial real estate in Australia let alone oversea's.

Wow,

Wouldn't make you happy if you were one of Vince's clients. Kind of sounds like sorry but my previous advice was a bit off mark so trust me and we'll give this a go instead. And to think it only took 450 duped buyers for him to figure things out.

markoshark,

Thanks for your posting. I just wanted to bring some clarity to this topic for the benefit of all readers.

When you joined US Invest and handed over your $995 you would have fully appreciated that they offered turn key style properties so what you are saying is that you happily paid $995 expecting to pay a significant premium from the word go ? That doesn't make sense !! I'm sorry but I am so tired of these companies that you have to pay membership fee's too  to get information and then added money on top of that if/when you buy. It's obvious that US Invest run off the shirt tales of Texas Cash Cow in Dallas….it just costs you an extra $7000 on top using US Invest.

You say you compared a property from Texas Cash Cow to another one in Fort Worth ? I'll put it on record that I have purchased 3 homes through Texas Cash Cow in Dallas. Every one I did my own due diligence on the ground for 3 months. Part of this involved also seeing a realtor so I could compare apples to apples. What I found and confirmed was that the product they offered was well priced and backed up by comparable sales from the MLS or in Dallas NTREIS. Sitting here in Australia and doing due diligence on the computer in a city or country you have never visited before is NOT a fair way to compare properties. Unlike in Australia….in the US and in a city of over 6.5 million….2 klms away can be a huge difference in prices and area's. Add to this fact that I can get finance from a local Dallas bank for 70% of the purchase price so only 30% of MY money is invested into the home. I get a copy of the banks independent appraisal report which gives me 6 comparable sales within the immediate and local vicinity.

But did Texas Cash Cow make a profit ? Of course they did…I'm not a fool. But if they can offer me a property that is priced at or below a normal market value that is not overpriced, that has been refurbished already and has a tenant in place when I close, that I can get a proper 20 year bank loan on from a local US bank….where is the problem with that ?

Just thought I needed to clarify this

Sara 2012,

Just for clarification…..your wanting advice on investing in Australian real estate ??

Hi Langport16

There have been some posts about this group before on this forums if you search past forum topics. Don’t think it was favourable due to their membership fee’s or something along those lines. How far have you progressed with them ? I have a few homes in Dallas now but didn’t buy through this group. I tried to send you a personal message but it says your not accepting emails.