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Thanks guys its good to see some highly intelligent comments, i agree 100%. its tough being an Aussie living in NZ, they don’t share our superior knowledge about our wonderful cricket team.
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi Buddywuf
I’ve noticed the cover differnece but assumed it was the same book. Just check the inside of front cover and see if its a revised edition or just a reprint ?? that will answer the question.
I found the book a great read a few years ago when i read it
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi Richard
yes enjoy it while you can.
you poor old poms have been getting a thrashing all over the world, and at every sport you taught us colonials to play.[biggrin]
I’m only 41 so i’m not old enough to remember england winning an ashes series[biggrin]
let hope its not this one [
]3-1 result to Aussie
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi don
check your email i just sent you an email and it bounced ?
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi Guys
Ozi most of the factual information you say is correct. I first became aware of the opportunities in New York State in May 2004. So i did a bit of research and discovered a lot of negative about Buffalo (things we have always lotd our clients). This actually put me off Buffalo for sometime while i investigated other areas of the US. I ended up making my first US purchase in another state where i was getting 15% and capital growth (i hope).
However over time i was lured by the attraction of the high returns and decided that I’d better go and check it out myself, just in case it wasn’t as bad as i though it would be. As soon as i arrived i was impressed with the city (even though it was in the middle of their winter), i’ve since been back in more pleasant times and I am even more impressed with the place. And as far as Rochester goes i think its even better than Buffalo. Sure there are the staff loss of Kodak and Zerox these need to be factured in.
Quiggles mentioned that poplation has stableized, as well as that the Jobs data shows a slight increase in Jobs (less than 1% but growth anyway).
I’m looking forward to hearing your thought after you have been on the ground. I now know many people who have been to New York State to buy properties, i don’t know any that disliked the place and decided not to invest there. In fact i know a number who had bought before they made their first trip and when there bought several more properties.
Sorry i’m a bit rushed i have my wife waiting for me.
Just a few more comments, Quiggles i agree that Buffalo is not for the seasoned investor , but then again perhaps all property investing is not for the faint hearted.
Gamay I am one who is sourcing properties for others, but i (as quiggles said) am investing there myself. I only take clients where i’m buying myself. ie NZ and now the USA. In fact i’ve made it public on this forum that i’m selling everything i own in NZ to finance Investing in the USA.
gross
i’ve heard that arguement for years, first of all when i was buying properties in Elizabeth SA in 1997 for 21,000, Mowell Vic for 26,000, Ararat for 30,000 now these are all worth more than triple, some more. I heard it again when i was buying in NZ in 2003 i bought a property in Marton for 42,000 just sold it for 106,000 without spending a cent on it. I’m not saying this to show off but rather to say often locals miss the deals right in front of them.
I don’t expect prices to double in Buffalo or Rochester in the next 3 years but i am expecting growth we are seeing it already (its investor driven at the moment) as more US investors, UK investors and Aussies understand the opportunites available.
I’ve spent 13 weeking in the US on 3 different occasions over the past 9 months and one thing i know is Americans have very little knowledge about whats happening in areas outside of their own city, not to mention state.Hope this offers another opinion to this discussion
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Thanks Muppet
good to see you here again, keep us informed on how it will affect Tokoroa.
I think they own the Paper Mill at Millicent in South Australia also ??
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi Don
i’ve not been to Invercargill for a while, my understanding is its getting hard to find properties showing 9% returns, what are your thoughts ?
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi maruco
i think what we have here(from the information supplied) is a home that was originally built by the Government. Over the years these were sold off to the tenants (lower income people and first home buyers and often young families). In the 1990’s the State Governments who owned these properties began a program of selling them off on the open market, Jeff Kennett in Victoria sold thousands of these homes, often to investors.
Sometimes there are housing commission areas that have become great areas with many homes privately owned but in some areas they are the rougher areas of the city.
Many people choose to live in these areas because they grew up in the area and have family and friends there, other choose to because the rent is cheaper.
Check with local property managers about your area, find out if vandalism is a problem in the area.regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi Snowball
i started buying in NZ in 2003 at one time i owned about 25 properties, however i’m now selling (usually for double the price i bought at).
The NZ market still has some great deals but they are harder to find.
Personally i love the US. That why i’m selling in NZ, i’m taking my investment Dollars to the States. I’d love to live there for investing bt i can’t talk the lovely wife into it. But i was able to convice her to move to NZ 19 months ago (so who knows).
So to answer your question, personally its the US for me.QLD007 thanks for your comments, i’m really passionate about the USA but i don’t want to turn my posts into advertisement for what we are offering other investors.
don’t look foor properties on a platter, that went out with the 90’s. Look for properties where you can improve something to make them CF+.This is partly true in OZ but maybe make it 2003, NZ was great till last year, but the USA you can still buy them on a platter. Most of my US investing $$$ has gone into areas where we are buying 15% returns in an area where the population and economy is booming and i can still buy and get instant equity in the home.
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi Donna
from my discussion with Kiwi’s they are are no where near prepared for retirement years. Even less ready than us Aussies.
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi Pabbs
Steve “Mobile Mortgage” has a fantastic reputation, well worth a meeting he lives in Geelong.
Just for the record Simon also has an excellent reputation
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi Mary
i’m inclined to agree with Dr X. Its better to have success with your own investing first. I “retired” as a result of my own investing before i started sourcing properties for others. Having a history in real estate either as an agent, a valuer or something along those lines is very valuable.
While having a track record helps having no experience shouldn’t completely stop you though. Who knows maybe you are a marvel at finding great deals.
Maybe you could work with another party (another buyers agent) and be on a commission basis with them. I can’t promise anything but i’d be happy to see if what you are offering has any commercial appeal with my clients.
regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]Hi Maruco
i’ve bought a lot of commission homes over the years in Victoria and SA. But sold them over the past 2 years, i only have 2 left.
I few positives and negatives and thing to be aware of.
Positives
they are usually good solid homes, low maintence and cheap to hold.Negatives
they are in poorer areas of town and less desirable for the average tenant. In slower markets they are often harder to sell. When there are a lot of vacant homes they tend to be the slowest to let.To be aware of
i think you need to avoid the worst areas of a town, property managers will be more than happy to tell you where not buy. If you buy make sure you property is presented a little better than those around it, this will ensure it is rented quicker.regards westan
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Properties in the USA 15-25% returns- email to join our database [email protected]ok jensshed
this is how i’d work it out
Income per year 48 weeks @ 80pw = $3840
less
interest (29,000 plus costs 2,000)
7% =2,170
Rates and water 800
insurance 300
Management 9% of rent 3,840 = 345
Repairs 300
TOTAL,915So its not really cash positive at all.
This is a great example of how a 14% return may not even be cash positive
hope this helps
regards westan
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check it out !Hi all
anus_lj and fapper_wyf, are you sure you didn’t set up this thread as a way of promoting some business you guys are doing in Bulgaria with “premier apartments” ???
regards westan
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check it out !Hi Anus Lj
I’ve never been to Bulgaria and have only briefly looked at the market, but i have a like info for you. But i can’t remember where i got this info.
This is what i can share on the pro’s of Bulgaria,
Before you see the pro’s the big negative is
Foreigners as persons can acquire only buildings, but not land. Only Bulgarian citizens and legal persons (including such with foreign participation) can obtain the ownership of Bulgarian land. Therefore, the most popular and preferred by non-residents ways to obtain a real estate in Bulgaria is:
For houses, villas, fl ats with limited ownership rights (the right of use, the
right to build a house, etc.), you can directly purchase them as a person.
For acquiring of real estate with the belonging land, you can set up a company, usually limited company (OOD) that will be the owner of the property.Now the Pro’s of investing in Bulgaria:
Rapidly becoming the most sought after area for investment in Europe.
Property in Bulgaria is currently some of the cheapest in Europe and last year rose by over 30%.
1,248,138 foreigners visited Bulgaria in the period January- May 2004.
The Black Sea coast boasts 220km of sandy beaches.
The Black Sea coast has over 1700 hours of sunshine from May to October.
Tipped by Thomson’s 2004 Holiday Forecast as the new top destination.
The diverse geography and climate allows both ski and beach resorts.
The general cost of living is one of the cheapest in Europe.
Bulgaria is close, being in Europe so naturally it is within 3 hours or less from the United Kingdom, Holland and Germany by plane.
Bulgaria joined NATO in 2004 and is set to Join the EU in 2007.
Bulgaria is stable. In 1999 the Bulgarian currency was tied to the German mark and subsequently the Euro, stabilising the currency and allowing for economic growth.hope thats a help, i’ve got more info if you want it email me at [email protected]
regards westan
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check it out !Hi Resiwealth
Actually Bris/Gold Coast is the second fastest growing area in the WORLD.Actually its not. It’s No-where near the top on a world scale.
don’t believe the QLD propaganda machine, Brisbane isn’t even the fastest growing city in Australia MELBOURNE is Auistralia’s fastest growing city, Yes it is !
Melbourne SD recorded the largest growth of capital cities in 2003-04, increasing 44,800 people, followed by Brisbane SD (up 39,700 people)according to the official figures.
http://www.abs.gov.au/Ausstats/[email protected]/0/797f86dbd192b8f8ca2568a9001393cd?OpenDocumentregards westan
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check it out !Hi Crashy
welcome back to the forum, havn’t see you for years.
sorry this is off the topic
How is the positive geared share investing going ? in 2003 it was all new for you now have a few years experience under the belt, Can you give us some feed back ?regards westan
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check it out !Hi Kerwyn
you are right about a “torando” ittting greymouth recently, as far a a repution for strong wind damage that’s news to me, i’ve not heard that before (but that doesn’t mean its not true). I thought it was a freak event ?
regards westan
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check it out !Hi cymberlineshakespeare
email me at [email protected] and i can add you to our USA database we have lots of information that i can email to you. I’ve been buying in two states Texas and New York state. Returns are about 15-22%.
regards westan
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,915
