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for anybody interested – blog site has been moved to a more easily navigable company powered by google.
We are putting information, links and our story as we work out purchasing in the US market.
Vincent,
Thank you for your email – I have been through your site. I am looking in Florida and Nevada also which also seems to be where your properties are located.
Who is over in the US doing the buying?
My main question is finance – you site says finance to approved customers. Do you have stand alone US finance for foreign nationals or do you just gear of existing Aust property, draw down on the equity and buy with cash? Please let me know the process if you can – thanks.
Management seems to be the other main concern – do you have a management agent over their who is part of 888wc or do you subcontract this out to a US agency?
sorry for all the questions – just getting it all together in my head at the moment.
thank you
Cafank,
Nice to hear form you.
The today tonight story will not motivate the average person – the investors who are interested already have their hooks into the idea.
Now is the time to all help each other so that we all benefit.
John,
Good morning,
I have a few leads for brokers but naturally am quite sceptical about the prospects of borrowing as a foreign national. Perhaps a good AUS history and a good business plan with 50% deposits may scrape me through over there.
I know it will not be the large banks – they are the ones who stuffed the whole market to begin with but there must be someone out there. We are used to paying higher interest rates so some loan shark should be able to make a killing off lending to foreign investors.
I have been emailing Alpinebanker.com this morning.
There is lots of money in the US – it is just a matter of finding it.
May i contact your Florida lead as that is one of the states I will be looking to buy? I will see if I have any luck there also.
John,
I will be in contact tomorrow (1 am here).
lovely to hear form you and good to know there are some people in the same head-space as myself.
http://www.blognow.com.au/usaforeclosures/
just to make sure the link worked correctly – this should take you directly there.
Dave,
I will do my very very best to nail it over there – the same as I do when i invest here.
I feel that this is near the bottom of the market and we have about 12 months to benifit from this current situation.
There are many people like us out there in the market looking for the deals and even though there are thousands of REO and foreclosures you will notice form the US websites that the big 4-5 bedroom well priced properties are all now going under contract. the tide is turning and the time is right to buy but it will take 5 years minimum before the US is back on its feet again.
When they are back – that will be the time to sell. There will not be a great deal of quick gains in capital appreciation for us Aussies as we are not sufficiently in the market over there. We are buying REOs and hanging on for income yield and perhaps capital gain over the longer term. Don't forget we are in this for the possibility of 20% income and tht is unheard of here presently.
Our blog has just been kicked off – the link is http://www.blognow.com.au/usaforeclosures/ This is where you will be able to follow the adventure as it unfolds.
Rob and Andy,
Glad to hear there are some interested people out there.
I am planning to head over in Jan. Looking to focus on the south east coast and perhaps California. I have the company set up happening and bank accounts. i will begin a blog over the next few days and let you both know how I progress with the pursuit.
I feel that i may be able to find some fantastic deals as I am a professional property investor her and so don't work for a living. I will be pushing hard to get the best possible properties.
I will keep you all up to date.
1st thing is the company to allow purchased properties to be held by – look at "Globes America" to assist do online setup and bank account rego. They also offer mail redirection and US phone numbers if you want one. I am setting up a Company based in Delaware as they have favorable tax incentives but please do some research yourselves as i don;t want to be recommending ideas just yet.
Will keep you in the loop.
Hi Guys,
just reading through some of your posts and I am headed to the US in the new year to get some offers in on a lot of properties.
I am looking at 5 purchases immediately and have been doing research for a while now to choose my areas carefully. there are many pitfalls and also a great deal of income upside available in the current US property market.
I will be only able to do cash purchases and will run out of money after about five purchases. If there is anyone out there who wants me to find and organise them a deal just drop me an email. At least you will be dealing with a Aussie Property professional.
Drop me an email at [email protected]
Cheers Mike
