Easy
I just thought of another way to finance your deals……VENDOR FINANCE of course ! Steve’s old fave! I saw a couple of properties for Buffalo on the net offering this service so that would solve your probs!
Regards
SimonDear EasyMoney
This is my first time on the forum, I am interested in making a trip to the US to purchase foreclosures and tax liens which return 16% interest or so they say. I have never invested in the US but would like to see how the land lies. Let me know if any of this interests you.
teach
Hi Simon,
Thanks for the idea, if the bank knocks me back vendor finance is another good option. I know the interest would be an extra few % but the returns would still be better than here.
One problem I have noticed with vendor finance, is that the vendor’s are wanting the loan to be a term of 15 – 20 years not 30.Another option is to buy two $20 000 properties which I currently have the money for.
Does anyone know if owning two cheap properties outright in the US would help me to gain finance in another year. I would be able to save $5 000 in one year I hope just from rent earned. This money would be sitting in an American bank untouched for one year showing a savings history.
Chris I will keep you posted. 16% is actually the bad properties I have seen many for 25%. I have seen a lot of $20 000 properties (2 units) returning $550 pm.
easymoney
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 Westan,
Thanks mate, once again you’ve been a big help.
About the $20k properties, it’s not the answer I wanted to hear but it’s what I expected.I’ll have to keep saving so I can afford two $30k properties outright by the sounds.
easymoney
Hi Easymoney
I would be keen to go over with you to check out Buffalo (and other areas). Would that be 5 interested parties so far?
I am currently talking to my brother. He lives in the US (in Virginia) and used to live in New York. I am going to get him to help me set up a LLC (he is a lawyer and property investor) and hopefully get some help with one of the big issues – finance.
Has anyone got a partner over in the US to help with finance? Any wisdom to share?
Has anyone got any books on US property investing to recommend?
Bekstar
Hi easymoney,
I am relatively new to residential property, having invested mostly in commercial, but am interested in the US. I have recently started looking in the US and need to do some more research.
With several people involved and brainstorming there might be some advantage. It is possible that I may be able to go to the US in August depending on what part of August and would be happy to be involved in further discussion.
Regards,
pr
Hi easymoney,
I love to come to US too.I have suggested the same idea while ago not knowing that you had a similar ideas.I gather that so far 6 or 7 people expressed their interest.Why don’t we go earlier like in June?
The other thing that concerns me on tope of every thing else is the issue of Lead paints in these properties.This is a huge problem in Buffalo.You can refer to the following site:
http://www.oag.state.ny.us/environment/lead96.html#introduction
How do yu think that can affect investing in Buffalo?
Happy hunting:)
KurraIs anyone from Sydney or surrounding areas interested in meeting together? Once off to start and maybe regularly after that. The aim would be to get together anyone who is interested in buying cash flow positive properties in the US?
Bekstar
I think this is a great idea to meet specially for investors who want to travel to US with similar minded people.I guess if a small group are gradually forming to go,we also need to meet to know each other.So I would support the idea 100%.I am in
Hi guys,
I’ve just read the latest messages. I personally think a monthly meetings is a great idea.
I live in Goulburn and have just started attending a Canberra group but it would be good if we could form a US minded group around the Sydney to Goulburn area.Bekstar, with a brother as a lawyer and a property investor in the US I can see you are going to be my new best friend. Your brother will probably be able to teach us more than anyone in the group. Welcome aboard.
Where abouts are you from Kurra, I’m hopeing near Sydney somewhere.
The reason I thought August as opposed to June is I want to do a lot of research on the area before I go over there, such as you mentioning lead paint. That is more reading I have to do now. I am a single parent so I need more time to save money as it will cost me 1 to 2 thousand to have 2 children to be babysat for three weeks.Hope you can make it Pete.
With responses here and PM’s, there is about 10 keen people wanting to travel to the US as a group, although a few have pulled out due to needing cash up front to pay for the properties.
PM me guys if you are interested in a monthly US meeting and include where abouts you are from so I can determine the best place to hold a meeting.
I assume it will be in Sydney somewhere.
Anyone else interested in the US feel free to post a reply or PM me even if you don’t live in NSW, you can form your own group interstate and we can meet at the airport when we are all heading to Buffalo.easymoney
Hi guys,
I’ve been offline for a few days but I’ve just replied to your PM’s.
One guy has told me we can get a huge online airfare discount if we book 10 group seats or more so lets hope the interest stays high.There are a few Sydneysiders who want to start meeting so if there is anyone living in West Sydney around Liverpool and you would like to hold the first meeting could you please let me know.
As I live in Goulburn I don’t want to be travelling to the other side of Sydney and the further north or east I travel the more chance I have of getting lost.easymoney
Hi,
Lets set a date for the first meeting.How about Saturday 14th of May lunch time.How about parramatta area.Is it central enough?(it is about 20 min. drive from Liverpool)or maybe somebody has a better suggestion.Regards,
Having purchased several properties in the US over the last 5 years I am working on a new finance facility where Aussie buyers will be able to purchase a US Investment property and repay their loan repayments in Aus $ rather than US #.
Just a few complication with my US Bankers to iron out and i will post the details here.
Will be back over in the US at the end of the month and would be interested to gauge the initial response.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Hi Guys
Sat 14th in Parramatta is good for me. I have had a couple of PMs about it. Please PM me if you are interested in attending. I will organise a time and location (somewhere in Parramatta), so at least we can get it off the ground. Kurra or Easymoney, can at least one of you help me organise this?
Bekstar
I am wondering why someone who lived in Buffalo would rent a place when they are so cheap?.
Up to 25% return is by far the best I ever heard, what are the body corp fees/rates/other costs etc, no wonder they say America is the land of opportunity!, I am sceptical but very interested.[baaa]Hi guys,
I try to find few venues for lunch in Parramatta and I post it within next day or two.So we can start our venture.Regards[gorgeous]
Hi Bekstar,
I can’t make the 14th sorry but it sounds like Kurra is on top of the situation.
Hope you have a good introduction, and post all about it and what you guys have come up with after the first meeting.
Regards
easymoney
G’day all,
I have recently moved to Seattle, WASHINGTON from Brisbane and will be here for another year or so. Let me know if I can assist at all.
Cheers,
Batts
Hi guys,
In regard to our meeting on Saturday 14th May,I have found this place in Parramatta:
City Extra
301 Church St.Parramatta
PH: 96331188
If every body is happy with the venue,please be there between 12:00 to 12:30 on Sat.the 14th May and please PM me so I know how many people are attending.
Also if there is any other suggestion about any other venue please post it.
Please also make some suggestion that what we should do or discuss in this meeting.
I guess that would be more like a social forum and I am sure that would be interesting.Regards,[gorgeous]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
