Hi Eric

i think that as Simon says (excuse they Pun), you need to provide the tennnat with a list of contacts if things go wrong
eg electrician contact …, Plumbing …. etc, they must also have your emergency details so they can track you down. You need to speak to the refered trades people and have an arrangement that they can address any issues (say up to a $$$) without having to get your permission ?
Did you really want to manage the property yourself while your so far away ??? i hate managing properties that are only 1 km away.
all the best

regards westan

USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database

Hi Bear

i’ve just rtead this post and like eveyone i’m sorry to hear whats been happening.

Yesterday, i was just talking about you to Xenia (she was in Balclutha) she is from SA like yourself and has spoken with you in the past.

regards westan

USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database

Hi Morty

if your planning to sell it after you settle on it , then its very straight forward you just contact someone to sell it for you or you find a buyer yourself. But remember you will need to pay capital gains tax in Oz on your NZ profits. So maybe it might be worth holding for 12 months so you get the 50% CGT discount.
where’s the land if you don’t mind me asking?

regards westan

USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database

good work Dean

all the best with the venture, i might even use your service when i next want to sell.

regards westan

USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database

Hi tony

i’ve bought quite a few properties as a remote buyer. As a general rule i would try to inspect the property but some times its impossible.

the things you have mentioned are essential.

To your list i’d add
check rental demand, this is best done through property managers in the city you are buying in (don’t assume what the selling agent tells you to be true). Ask property managers where are the areas that are slow to rent and why. Ask what type of homes are in demand. Most good property managers will even check out the home on your behalf (if you ask nicely) and give feedback to you. Ask them what rent will it get in its current condition and what can be done to increase the rent. (a nice bunch of flowers would be appreciated by a property manager who does this for you).
as a remote buyer you also need a very good knowledge of the local market- are you paying the right price for the home ?? I see it often that remote buyers pay too much for properties.
Check the local economy- its important to know whats happening in the area you are buying, you don’t want a home that will be in a city that is declkining (ie mine closing in 2 years etc).

all the best
regards westan

USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database

Hi all

Yes i’m one of these agents But im living in NZ at the moment. We have a great team in the States who are doing some top deals for myself and our clients.
li21 when buying in the USA there are heaps of issues you should be aware of, the USA market is very unlike AUST and NZ (which are very similiar).

The USA is a huge country and its really hard to know where to start when looking to invest. I spent about 6 months reading researching before i made my first trip to the states. Its important to do reasearch before you invest there. For example a lot of areas have high vacancy rates at the moment.

a second issue is how do you know who to believe and who to trust. Never buy over the net. I was in one city where you can buy nice homes as cheap as $5000 but they were in areas that you would never get a tenant to live (as the area is way too rough). What happens is people buy this nice looking homes in bad areas and they then sell them on ebay for 25000 to people who haven’t done their research. So a good team is essential.

Thirdly finance is an issue for foreigners (thats us), in my first trip i couldn’t even arrange finance, i have now got some contacts for finance.

So li21 there are many things to be very wary of with investing in the States.

But the rewards are also there. We are organizing a USA information evening in Melbourne, Sydney and Brisbane in early April. There will be a charge as we are flying two guys out from the USA to talk. So come along and you will have your questions answered.

regards westan

USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database

Hi Guys

as far as finance goes in the USA- as mentioned before finance is quite dificult to source. I have found only one place that has actually given finance for foreign investors. As far as will 1 year of credit history in the states be enough ?? No one knows because noone to my knowledge has actual;ly done it yet. (Just keep in mind that a lot of people in the States say that you can do this or that but they have never actually done it and when they attempt to they discover they can’t deliver on their promises).
Easymoney – just be careful on the $20,000 properties in Buffalo- i’ve seen them and they are either in areas you wouldn’t walk the streets in or are in need of $10-20K of work. for $35-50K you can get very nice properties.

regards westan

I live in New Zealand, for a fee find cash positive deals there, and now 15-25% Returns in the USA email me at [email protected] to join our database

Hi Snowy

there are a lot of people on this forum who have had success through their investing. It appears your strategy is cash positive (from your member profile). I’d say read this forum and see where people who are making money are investing. But not everyone on this forum likes cash positive (eg Monopoly she buys for capital growth) so find someone here who is doing cash positive and read some of their posts it might help.
Just as a big head start – if you want cash positive you will really struggle in OZ. Many people from this forum have been investing offshore in particular NZ since 2003 and have done very well (even Steve McKnight was investing in NZ then), Today opportunities are becoming harder to find there but they are still around.

Also read books especially the earlier books by Kiyosaki like “rich dad poor dad”.

regards westan

I live in New Zealand, for a fee find cash positive deals there, and now 15-25% Returns in the USA email me at [email protected] to join our database

Hi unannounced

it gets very hot in Vegas, maybe Robert Biglow has spent too much time in the sun.[confused2]

even if he builds it i think he’s dreaming to think there are enough peole on this planet who will pay the “Bargain-basement room rate: $1 million a night” to make it a commercial success.

regards westan

I live in New Zealand, for a fee find cash positive deals there, and now 15-25% Returns in the USA email me at [email protected] to join our database