Hello Karlm,
Yes 60K is enough to get started no worries!

What would you like to do?
Positive cash flow ?
I would recomend you start small as it seems this will be your first and keep researching to make sure you have confidence in what and where you buy.
Go for it!

Dematio

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey Deb&brad,
These propertys are all in Buffalo from this company.
Some of their propertys are improved but not all need it(I am told by the company)
Yes you do have to be careful of the areas you buy in Buffalo and especially who.

I would give Westan a call if you are wanting help with the whole purchase from go to wo.You will pay full retail but;
.He has the reputation and integrity in this area.
His contacts do all that is needed in a rehab then do the management and pretty much everything.

Regards Dematio

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey guys,

I thought some forumites interested in forclosure propertys might like this site to give them an idea of whats on offer in the states.

The site is http://www.hud.com
(which stands for homes under disclosure(bank and government forclosed homes)
All the best
Dematio

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey Ricky,
Yes these guys are great! But I can’t take the credit for finding them.
But when on to a good thing you stick with it hey?!!
It is not a syndicate I am in, just an individual buying my own propertys.I have been with them for a little while but more importantly to me is how long they have been around.The main guy involved in this company grew up in Buffalo and has been doing property for over 20 years!So has built up strong relationships in Buffalo.So refernces for him are not hard to find.

The first property I bought from him was advertised as a lower rent than what it returns! Now after buying more I realise that most of his deals are sold like this,(under estimated)to avoid dissapointment and give a good surprise!
This just shows one fassett of there Integrity .

Hop this helps
Regards
Dematio

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey guys!
I can see that there is alot of fear out there regarding WNY,(which is understandable)
so i thought I would share a positive story.

I have been investing in Buffalo through this amazing company !
http://www.buffaloinvestment.com
(I dont have any commercial arrangement with them either).
The most important thing for me to have (when doing property deals) is good,honest,integral people who will tell it like it is. (no matter what!)
This is why I am confidant to put some of my money into this area.But to be blunt,if I cant find the best people in an area,I wont invest.

Especially when investing in an area where there obviously can be (as this post shows)problems.

I have been really blown away by these guys.They literally put there heart in every deal.
Have a look at there sight and make up yr own mind.Just wanting to show some positives to balance out the neg’s.

Regards
Dematio.

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey there Ricky Hope Yr well!

Yes Buffalo is a great place.It is so huge with many opportunities!
Prices have noticably risen even in the last 4 months! And I really dont think it is possible they can go backwards as they are so low!I would say to people start small and go from there and balance west new york out with other areas aswell.

I believe it is a great place to invest if you have a fair bit of cash behind you and want some solid cash flow long term.
One thing people need to be careful with is it can be difficult and expensive to mortgage out yr propertys. So keep this in mind.
The other thing is it is hard (but not impossible)to find good rental managers who are actually legaly licensed.

Regards
Dematio.

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey Pipeliner,

I would invest the 2 grand if i was in yr situation in the bank(its safe)at about 5.5% (st george directsaver gives at call availability with no penalties but you may need 5000 to qualify??)anyway
keep adding to it every week by working strongly 6 days a week in yr job.
Then once youve got say 15 K I would go to lender with yr saving history and
loan to buy something returning a safe 15% Gross in a high potential area for cap growth.(poss somewhere in the US)
Then keep working in yr job and research ,read property, property, property and keep paying down yr loan.
Then in a year or 2 mortgage out yr property again and put that money as deposit down on another property and keep going for 5 yrs or so till you can use positive cashflow as a half of yr income.
Then spend more time doing yr property deals till you can stop working yr job.
to get 4 grand passive a month you could get that with about 420 to 480K worth of property owned outright(or clear equity within a mortgaged portfolio)(conservatively)
Remember a lot of this equity should come through capitol gains so u dont need to physically earn 480K in yr job in a short period of time.

But you will need to work hard!

Go for it!

Dematio.

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey resi wealth,
I actually think thats a bit general.
Its very hard to box in all investors to a category like that.
A person may have a bit of all those levels depending on the situation and deals.

Dematio

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Go Buffalo!

It is definately a gold mine !
Don’t miss out guys the opportunities will be gone before we know it!
Ha Ha I love stirring people up!
But seriuosly don’t underestimate this are untill you go and have a look for yourself.It will surprise you

All the best
Dematio

We’ve got 70 yrs on planet earth,Lets make the most of every day!