Have read a couple of threads about this subject, it was also in a paper is it true ? (would like to hear from steve)
Just wondering if anyone knows anything about this weather it is true or has anybody read the artical in the paper
Rick, it is true, it is in another thread and it is Steve’s private business.
TMA
http://www.email4money.info
Investor Links
First Home Buyer WebsiteThanks TMA
I know it is his business. That is why I was asking , just wanted to confirm that it was not a miss leading rumor.
Cheers Rick[drummer]
Hi,
Yes, it is true that we recently bought a large amount of real estate in the US.
Some more information to the story is as follows:
1. We bought it as a joint venture with another investor, so there are two parties (Dave and me as one party and the other person as the second party). A joint venture was needed to solve the finance issue as we saw ut as the best way to get started in the US.
2. It was Dave more so than me that has the US experience in that he has been over there a few times in the recent past to set up the business, inspect properties, meet financiers etc.
3. The property is positive cashflow. Values up to $60,000 that rent for around $150+ per week. Most of the dwellings are multi-family properties and therefore have more than one income stream.
4. We have ventured into the States as part of a strategy to identify high yielding properties. Naturally, when you invest overseas there are many issues to consider and I am in the process of writing an article about these issues. The biggest issue to solve is finance.
I hope this has helped to provide more information.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Steve
Look forward to your reading your article.
To bring in a partner, they have to add something to your MO or why bother?
With the US in the dark ages compared to us with finance + our issue of being “aliens”, we have thought of bringing in a US based family member to solve the x coll and high upfronts on finance. Of course they have to be like minded…
I guess the alternative is to take the time to build the FICO but of course we are all looking for the fastest route….
Regards
Tony YoungUS in the dark ages compared to us regarding finance????
I think NOT!
TMA
http://www.email4money.info
Investor Links
First Home Buyer WebsiteOriginally posted by SteveMcKnight:The biggest issue to solve is finance.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********It might be a resident thing. The US develops and introduces most loan products long before they are seen in Australia. They already have inter-generational loans!
TMA
http://www.email4money.info
Investor Links
First Home Buyer WebsiteIn America it is possible to get 100% financing, non recourse finance on commercial property.
Of course were not in the dark ages with banks still demanding 35% deposits, higher interest rate (usually), and of course no recourse loans….
Thanks Steve
Will be looking forward to reading your article,I think I will be pursuing to buy in the US.Have been reading up on some good things people have been doing in buffalo/niagra falls. Im thinking about dallas or houston , my research is pushing me in this direction.
Cheers Rick
Love the game reminds me of monopolyI think we need a new forum heading titled
USA properties
We buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required
[email protected]
phone 0412 437 582DR.X
I think your right.
Thanks for the feed back.Cheers Rick
Like many in this forum, I am considering buying in the U.S. But one thing I constantly read about is the high vacancy rate (over 10%) in rental properties over there. Here is the link to the vacancy rates in major U.S. cities.
http://www.census.gov/hhes/www/housing/hvs/annual04/ann04t5.html
Just wondering those who alrady owned IPs in the States if they can share their views on this issue.Hi Checker
I like to think that 90% of places are rented so the odds are in my favour + the places we have bought are in good neighbourhoods close to all the things that make up a community. No different to the properties we own here.
Regards
Tony
One of my business asociates(UK) has recently moved into property investing in the US (Texas). The set up is similar to DHA, but with private companies renting the houses and putting their workers in there to live. My understanding is that the US does welcome overseas investors in to the property market but there is a lot of paperwork to get around. Maybe Steve can give a quick run down on some of the differences he faced in the US.
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