Forum Replies Created
Hi Nigel
no thats 2 4bedroom properties.
Yes your right if you financed the 30% from a line of credit Sure the profit is less, but then the return (ROI) is infinite [
].regards westan
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No Doubt about it Nigel
but don’t expect to be making capital gains soon.
regards westan
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Hi Grossrealisation.
thats a great deal, well done ![biggrin]
what i meant about don’t get complicated was the idea of how much into the deal, never mind just for the record i put in $8K into my deal for a $61K profit. Now i should have added some zero’s on the end and it would have been nice.
regards westan
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Hi Ozhan
thanks for that
The US really is the land of opportunity !!
i will study those links later, I really shouldn’t be on the forum, i’m supposed to be packing our furniture to return to Aust. The furniture goes next Wed.
Thankyou
regards westan
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Hi geoffrey
thanks for the welcome home.
is that after i got home from the US to NZ ? or home from NZ to AUST ?
Oh my, i’m getting myself confused. Where do i live ???[
]We fly home to Oz in dec
thanks
westanProperties in the USA 15-25% returns- email to join our database [email protected]
Hi Guys
thanks for all who offered advise.
Tools you were spot on. The curb it the councils but the bit between up top the footpath is mine. The council went to inspect it and sadly its my problemto fix.
Drats $225 , oh well.
It was actually a lot less than i was expecting
regards westanProperties in the USA 15-25% returns- email to join our database [email protected]
thanks guys, to all who have contributed.
If you have never joined on the forum before , here’s your chance, do it on this thread. You will find once you start posting it very easy.
From the info supplied so far there are still plenty of buyers out there.
please fee free to add what you are doing.
regards westan
Properties in the USA 15-25% returns- email to join our database [email protected]
Hi bardon
yes your right Texas is the way to go.
Nigel, as someone who has been active in Texas for over 12 months don’t be suprised if your let down by folk in the US. I’ve had to tinker with my team in the Texas a number of times before getting it right. Some people are still the same. Sorry to any Americans reading this, but they have a nack of saying all the right things but failing to deliver what they say they can. time is the test.
regards westan
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Hi Ozi
are you able to quote the source of the info ?
Just one thing did you realise some of the places you quoted were cities and others States? You may need to check to stats. It would suprise me if data mixed up states and cities.
regards westan
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Hi Nigel
I belive your back, so did you end up buying anything in Texas ?
regards westan
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WE WIN
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Hi Muppett
Still half of Australia’s population were born in New Zealand so that isn’t unexpected.True , thats why i moved from Aussie to here, there are too many Kiwi’s in Australia
Half the the rugby teams in the world are coached by NZers.Didn’t know that, thats a good stat because i always think you have to be a winner as a player to coach a winner team. While that’s the case it help our chances in the World Cup.
Maybe they should get the Silver Ferns train the Wallabies, they could toughen us up a bit. (not meant as an insult to the girls, all my other comment are having a go at you though)
regards westan
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Hi worldchanger
sorry it looks like Tennesse isn’t a place the forum is familiar with. I’ve spent a lot of time in the US over the past 12 months, about 16 weeks all added up. But i’ve never been to Tennesee.
I have nothing to offer.
But i think you want to tell us ? ok, let hear about it.regards westan
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hi guys
i’m trying to secure some land in the US, its 62 lots in a prime golf course estate for 1.6m. The lots will then be handed over to a builder i know who will build on them and sell them. We hope to make a substantial profit. But got to get the land first.
regards westan
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Thats exactly right Rikky
thats just one of the great attractions of buying in the US,
regards westan
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Hi Guys
flash, i wanted to add one comment that for Aussies trying to buy below market isn’t that easy. I agreed with your comment before but wanted to clarify. Homes that are listed of sale through R/E agents are listed on the MLS. Its hard to pick up bargains on the MLS. Anyhing thatsa super deal goes really quick.
The way to get good buys is to use locals who know the system. And for us to be patient while they are looking. I’ve been over many time to Texas and even though i know the cities very well i would always use a local to help. Not neccessarily a R/E agent.
Just for the record did you use a local to source your deal ?Auzzielad
rehad – yes a renovation
HUD- gov housingWith the hurricanes the Hud homes in one city i’m active in were all withdrawn from the market to make them available for New Orleans victims.
Finance is easy for Texas and you can get it from some specialist brokers here or from the US. qlds007 from this forum is one, based in QLD.
regards westan
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Hi Flash
well done, and i agree with your comment about the rehabs.
hey where abouts are you buying ? Don’t need to publize here, but i’d be interested. PM me if you want. I’ll tell you mine if you tell me yours [biggrin]
regards westan
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Ko
keep records , such as your electricity bill. Just in case you move and are ever checked up. this will show you were in the home.
regards westan
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Hi Karfrat
why isn’t the home selling ?
this is a question you need to ask the agent.
as michael said it could be overpriced , but it may not be the reason. to is also possible that the past month was quiet and your home is priced well !
I would want to hear what the agent says, he might say its because there is an issue with the home ?? who know at least you can deal with whatever he says.
I alway have the opinion that an agent wants the sale, he is working for himself. Not all are like this but to expect the agent to get the best price and push the price up for you ?? Doesn’t usually happen. they would rather get a contract signed and move on to the next deal.
You have the power, use it if needed, Tell the agent that you will give him an extension of 2 weeks and then you may be forced to take action and move the home from them ??
hope this helpsregards westan
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Hi Ricky
it looks like i might be the only one on this forum who has been buying in this market ? No one else replied.
Just to clarify for those who want an explaination, if a person defaults on a mortgage in the USA the banks foreclose on the person and sell the house off at a bargain price.
For everyones interest buying foreclosures for us as “out of town” investors is potentially a Minefield. When homes go to foreclosure there is an auction, if you win you get the home. There is no comeback, so subject too finance or inspection. One of the other danagers is the home might still have debt owing on it such as a 2nd Mortgage which you will inherit. There is a real danger for those who haven’t done their homework or don’t know what they are doing. One very experienced investor i know in the US said she wouldn’t buy at foreclosure as your “swimming with the sharks”
Anyway there are better ways to buy than the Highly competative foreclosure markets.
One is Preforeclosure. This is before the bank foreclose you get the owner to sell at the price they would get if its sold at auction.
This example of mine will explain. I bought a home in Texas. the owner owed 54K to the bank. the bank was going to foreclose on them and not only take their home and give them nothing but also destroy their credit score (very important in the US, it dictates if you get a loan and what interest rate you pay). We were able to come along and offer 55K, so the seller gets $1000 in their pocket to restart. They also keep their credit score in tact. So in some ways i have taken advantage of someone in a bad situation. but in another way i’ve saved them from the treatment the Bank would give them. The seller was happy so thats an indication.
With this home for 55k i spent 13 K on it and now its worth 88K. so there are some great opportunities in this preforeclosure market.
Now before you all go running over to the USA a bit of info about preforeclosures. There are people out there who just target these people to buy their home. When someone is about to be foreclosed they are placed on the Foreclosure “list”. this “list” is publically available. these home owners then get bombarded by letters, and door knockers. So like foreclosures its very competative.
I work with people in the US who have some incredible ways of getting to these home owners before the “list is out” They get the deals before anyone even knows about them !
This is the market to be looking, the pre-preforeclosures.Hope this helps anyone who was interested.
regards westan
Properties in the USA 15-25% returns- email to join our database [email protected]
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