Hi Playachicken,

I have used Bencarmona and have found him to be able to get the deal over the line with integrity and honesty.
Hes pretty aggressive with times too.
heres his website     http://www.bencarmona.com

Hey just be careful in the states .There are heaps of sharks in the US real estate game.Be very cautious and get over there yr self  before jumping in.

kind regards
Luke

I would go false sealings over the top as it will save having to put new timber or backings all though.
(old ceilings will have really old warped timber probably)
As long as the ceiling needs doing otherwise just neaten it up and paint it.

Hi Rob,
I personally reckon if yr gonna do deals for cashflow in the states you want to see at least 30% returns
plus good cap growth prospects because the issues that come up are just unbelievable.
The 60-80k fo 600-800p/m are – cashflow ,and very negative at that.
The taxes in many areas are 3%p/a plus for starters before other costs.

So ,if yr looking at investing there aim heaps higher as those deals will kill u.
You need to be there and getting the best deals yr self with BIG discounts to make the profit. Try getting on
the San an and Houston investor forums and speak to some of those guys that have been doing it for years.Ask them if they
do long term "cash flow" and how it returns.
Speak to an accountant(real estate specialist) on the forums .There r a couple there trustworthy.
Be careful who u speak to in yr research though as there are alot of sharks in this industry in the usa.

Hi Industry developments,

Sounds exciting man! Good on you for going for it in the states.
I have been investing in some areas over there for about 4 years and have learned some Big lessons .
Its pretty tough finding integrity.

From what you seem to be saying is you are going ro hold properties for a while and rent them?
Then sell when market picks up?

Can i recommend if you havent bought anytfhing over there before just buy 1 or maybe 2 to start with and
just see if long distrance management is for you. Then 12 monhs later see if it is working and buy more if ok.

Far out really ?? Is that how it works!!
It would certainly help someone sell as they generally also lower the asking sale price heaps and spend 000s of yr money to renovate.
Then they go about humiliating the owners as to why they havnt done more to sell.
ha ha very interesting how they dont share that they also charge the vendors on the show when they give the figures .

At the end of the day i guess its still helpfull support for some people who are really struggling getting out of their house,
but that pommy guy is pretty negative.

Mate i think its not good enough.
But is the rest of their service Ok ,or have you brought it to their attention and they not rectified it?

I personally reckon alot of these PMs take on too many properties .I manage a few of my own and have an agent aswell ,but
by the time you look after tenants and fix problems properly there isnt alot of time left over.
I dont believe  it is physicaly possible to look after all the things reqd properly when yve got 150 to 200 props.
Eg checking tenants after they report an issue to see what the actuall problem is.
Then who caused it? the tenant or wear and tear?
Then the checking of quotes and getting the best deals on repairs for landlords,
then having them check the repairs were done properly.
etc etc etc,
you get my drift??!!!!

great topic guys !

                     Its definately true when it comes to renovating,it depends on whether you do it yrself or pay people.It can easily add up when you contract everything out.But it isnt impossible to make a profit getting help.
I have on the last couple of reno s ,but i get handymen only to help and i watch them thoroughly,while Im working on other areas.(its a matter of paying $15 per hour as opposed to $50 to 150 per hour!)Occasionally you have to say NO im not happy with that job rip it up and do it again.And even if that happens once or twice and you have to repay them the second time it always comes in Much cheaper than paying tradies.

Its really good satisfaction when you do alot of it trself too! You realise its not really that hard ,just takes a bit of care and thought.

        Ive learned though,that at the end of the day you can do heaps of work reno ing a house and then if the market comes back during that time period you can almost have only made the extra materials cost  back after selling it. As oppossed to  the profit you would have made from growth already earned in the property from purchasing earlier
But at the end of the day ,still making good profit  due to buying well.

Daniel ,I would encourage you to go for it man !
But try to remember those quick and easy reno shows make it look pretty cheap and  easy .Some of their work manship up close can be questionable.(Fine for a cheapy house but not always easy to sell them if not finished properly.)

hi mate,
as far as im aware no ozzie trusts cant be used in the states.But ive heard of some linking LLcs)usa companys)to ozzie trusts back in australia.
I personally think its a lot of hassle and expense for limited benefit.unless you want to go big over there.
While investing over there for a few years now i wouId personally recommend you just buy/sell a couple of deals in yr own name first and learn the systems,then see if its for you.

all the best

I was thinking the same thing when Kev fried the first half of Johnny and Petes hard earned surplass wihtin 9 odd months of office.
now the lots gone plus a defecit.
Un believable.