Hi,
Recently I have attended a seminar in Sydney regarding property investment in USA,specially in Buffalo.This seminar presented by few American real estate agent who sounded quite assuring with collaboration with Australian colleagues.I found that majority of the property presented were very old (more thab 80-110 years old)but with good rental return.
Has anybody has any experience in purchasing in US?do you think that was a safe investment considering choosing them from some photos sent to yu via e-mail?
I really love to know about your opinion.
Regards,[gorgeous]It sounds far too risky. If these properties are so good why do they have to come all the way over here to sell them?
There are much better ways of finding and buying good properties in the US than that. Try Westan on this forum, he’s a spotter for good deals in the US I think.
I must admit I don’t know a thing about USA property investment but my alarm detector went off when you said This seminar presented by few American real estate agent.
For the life of me I cannot understand why these agents would feel the need to travel all the way to Australia to sell real estate.
As G7 indicated if USA is it for you – then PM westan.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Kurra,
Am I correct in assuming that the seminar you attended in Sydney was the one organised by Westan? If that’s the case, you should state this in your post because it looks like people are jumping to conclusion.
If it wasn’t Westan’s seminar, then yes, I agree with g7 and Derek.
Regards,
OziI’m pretty sure the seminar that Kurra attended is the same one organized by Westan since he mentioned the area “Buffalo”. Cheers!
Looking for another income source? – Email me.
I agree Caesar, suspect Kurra is talking about Westans seminar evening. If that is the case the American gentlemen referenced to are NOT USA Real Estate agents, they are property investors.
Cheers
GeoffBThank you all for the feed back.
Yes,that was the Sydney seminar that has been organized by Westan ,eventhough, I did not know him personally until that night.The only reason that I did not mention his name,because my question was not directed to him or what he doesin specific.
I was interested to know if anybody has explored US market and made any sound investment there so I could be encouraged,that is all.
I do admit that seminar created few questions for me:
I found few of their properties on MLS listing in US for 1/2 price(so prices in seminar were double????)
the prices on the properties have not been negotiable.
the management fees of 12% seems quite high(I don’t know how much is the norm in US to compare)
not enough information or pictures was supplied.
It seemed that there was a rush to close the deal very soon otherwise you could have missed out(so there was not enough time or info to think on the deal)
Saying all that which is my opinion,my question is not about that seminar,it is about your experience in US market whether through Westan or other people.
I hope I made myseld clear.
I do appreciate your input.
Regards,Hi Kurra
Rick Otton has been investing in the USA for years and it seems to be Ok.If it was Westan you saw then you should have picked up that most if not all the properties he has on offer have been renovated and even though they are old they should be quite sound.
Kerwyn.Hi all
Kurra i’d like to respond to a number of your comments
I found few of their properties on MLS listing in US for 1/2 price(so prices in seminar were double????)I’ve just spent 20 minutes looking and i couldn’t find them ??? Even if you are correct remember that James and Dan buy homes cheaper in OK area and send their work crews in to renovate them. So 2 weeks later and $10k into them they are not the same $20K property they purchased. As they said they buy other peoples problems and fix them. They always claim that you will pay market price for their renovated properties.
the prices on the properties have not been negotiableYes that is right, they don’t reduce there price, they don’t need to people are happy with the product.
the management fees of 12% seems quite high(I don’t know how much is the norm in US to compare)It was actually 10%. But if you wanted to employ a risk manager that would cost an extra 2%.
not enough information or pictures was supplied.
It seemed that there was a rush to close the deal very soon otherwise you could have missed out(so there was not enough time or info to think on the deal)Kurra the purpose was not to sell properties but to show what was available in the Market. I’m sorry you felt that there was a rush to buy, that wasn’t the message we were trying to portray.
As you are doing, its always better to think carefully before you make an investment decision. Buying in another country is a huge step and one that not everyone is comfortable with. If the investment possibilities sound good then i’d encourage you to keep finding the answers to your questions. Personally i’m very USA focussed with my investment dollars. Sure deals come up from time to time in NZ but the market here is not what it was.
Suprising not many investors in Australia buy in the USA, much like in 2003 when not many Aussies were buying in NZ. Give it 12 months and there will be large numbers who have taken the plunge into the USA. a number of Aussie are inthe States right now as a result of the info nights (not seminars) we ran.
Personally I’ve just bought another home this weekend in the States and got another for my 21 year old son.I’m also keen to hear from others who are buying in the States, its great to share information. There is a new forum http://s9.invisionfree.com/property2go/index.php?act=idx or try http://www.nzpropertytogo.com
it has a USA property forum for Australian investors, feel free to ask any questions there also, (its a new free forum).regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi kurra
i was thinking about what you said,
that was the Sydney seminar that has been organized by Westan ,even though, I did not know him personally until that nightare you not on our database ? you seem to have no knowledge of what we are doing ? Most people at the Info night had a bit of prior knowledge. would you like our latest info kit? I don’t know who you are as i only have “kurra” to go on. I’m happy to put you in touch with people who were at the Sydney Info night who have bought in the States. One of them have just bought another property (making 3 now). Please feel free to email any questions you have about the USA. I’m collecting lots of questions from people and will answer them and email them out to everyone who was present at the info night.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Kerwyn,
Thank you for the information.It seems that US market is quite attractive at present.I will post a note when I buy mine.Regards,[gorgeous]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
