Coincidently I just found out that someone I know was looking at this property and it required a $20,000 rehab, Not a cheap rehab.This would have been an awsome deal if  purchased direct from the bank. Great cashflow and the house/area ticks all the boxes.This company is making approx  $24,000 profit, that would kill the rental yield for me. If yo…[Read more]

I set up personal bank account  when I was in Atlanta.My lawyer set up my bank account for my first LLC. I have since opened several bank accounts for various LLCs myself from Australia, I have a contact person, happy to pass this info on if interested.I am with Wells Fargo, I must say I think the US systems are miles behind Australian banking s…[Read more]

If I was playing that leverage game I would only buy Higher end assets,,, like we talk about A B C type that have realistic returns. The first rule of investing in the US is capital preservation, yields is second, furture equity 3rd.JayGood advice.Out of curiosity what do grade the properties that you are purchasing in Henry County, GA??WI

Jay"There is going to come a day and its going to be in the next 24 months to 36 months that cash flow rentals for the Net YEILDS we like to make will not be there in any great number… And we will start to sell off our houses to those that will pay us our profit and I am not looking for huge profits if we can sell and make 20 to 30k a house we…[Read more]

Hiya JayThis strategy just would not work for me, you need deep pockets to be holding this stuff and if you are not buying large parcels why would you bother, lots of pain during 2-5 years, or perhaps longer.In Australia I like buying properties that are sitting on land which can be rezoned/subdivided, eventually bulldozing the house and building…[Read more]

speedy gonzales wrote:

worldinvestor wrote:

kylermrice wrote:
I'm just going to post about A and B type neighborhoods anymore, lol.  I just really like the numbers of the C stuff.  Jay thinks all i do is the hood.

 There is a Aussie spruiker (wont mention his name) who promotes his properties using these categories, A, B and C, I find it am…[Read more]

Alex SC wrote:

jayhinrichs wrote:
this is exactly what I do we made a business out of it… I will talk to the odd tenant, but thats rare,,, I do view each house I buy at the time we buy and after rehab.But when your rehabber and your PM are your PARTNERS  life is just sooooo much better than trying to heard cats which is what it seems like…[Read more]

kylermrice wrote:
I'm just going to post about A and B type neighborhoods anymore, lol.  I just really like the numbers of the C stuff.  Jay thinks all i do is the hood.

 There is a Aussie spruiker (wont mention his name) who promotes his properties using these categories, A, B and C, I find it amusing  that there are investors who actually bel…[Read more]

labradorinlove wrote:
If you were drowning and you only had $100,000 USD to save you, which cities would you buy a few SFR foreclosures in and why?OK so that’s a bit melodramatic, but it you only had 100K left what would you do with it?Please don’t recommend me to enter into anyone’s property package or scheme, as that isn’t my question here.…[Read more]

tonyy21692 wrote:
WIhappy to say after 7 1/2 yrs in the USA market the pain is finally over as just this month we have closed on our last property.we quit because;when you are 1/2 way around the world it is hard to find people with integrity,it is hard enough managing IP's let alone be a FOREX dealer too, andthere are easier ways to make mon…[Read more]

kylermrice wrote:
The market is starting to recover, I have more competition and the deals aren't what they used to be.

It is certainly changing in Atlanta, the deals I was purchasing 6 months ago are out the window, unfortunately this means for me I may have to kiss 15% net return.

WI: You will be able to buy the properties Steve talks about forever. They are the worst of the worst – no one with half a brain wants them:) In any case he uses very specific management 'techniques' which will not work for everyone and even then I doubt the numbers really 'work' – I suspect the business in reality is offloading them immediately.I…[Read more]

Paullie wrote:
But steve is advetising 30% returns. …

Hi PauliieMy understanding is that Steve was buying bottom feeder stuff in Florida, also multi unit sites,  I think he started doing this perhaps 2 years ago.From what I have been reading there is so much demand I doubt you could pick up these properties now for the price he paid,so th…[Read more]

Qlds007 wrote:
Yes no issues but only done as second home cant own a property in USA.CheersYours in Finance

Hi Richardwhat does this mean? What are the terms, I am told Atlanta is a tough market for finance, no one will touch it.What I have tried to source to date has been shocking, over the top fees, high risk, I would not touch. Cheers, WI

Lots of posts and have enjoyed this thread,  have a few questions for British BuyerHow do you live in USA, permanent residency or what ?,how does this work  Have you been able to source finance?WI

Hi RichardWhat about Atlanta?  Any finance here…… ThanksWI

Hiya AlexPort Douglas in QLD…. just another one of my favourite spots, am sure your wife would love it.http://www.youtube.com/watch?v=MouxFoBEkGYCheers, WI

http://www.propertyoz.com.au/Article/NewsDetail.aspx?p=16&id=5451This may be of interest to those interested in mining area…..

http://www.rottnestisland.com/Its not  for sale ….. just a piece of paradise, our little treasure in Western Australia.

That being said, why is it bad?Because every man and his dog is taking a bite from the cherry, so who is wearing this??? The returns will of course be overstated to justify the sale price. Can not wait for a section 8 tenant, should throw a party.I would not touch this type of product. This company wont even provide you with details on list o…[Read more]