Hello everyone,
I have been looking at the website http://www.realtor.com . There is alot of towns in America with properties that are around the 30-40k mark (American dollars). Just trying to find abit more about overseas investing. Does anyone have any experiences they would like to share about investing in America? or any knowledge about were are hot spots to buy, it will be of great help.cheers
Parkdog [bonjour]Hi parkdog
There is a monster post on this subject at:
http://www.somersoft.com/forums/showthread.php?t=18101Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
yes, the realtor website contains a lot of info but what I find is that they tend to inflate the rent. The best way is to stay late and call the realtors themselves regarding the specific area/state that you want to focus on. OTherwise, your phone bill may blow out.
Cheers
JohnDreaming about financial freedom is all about taking some action TODAY. I am building my own successfully PART TIME business whilst still working in a Bank. If you want to know more, PM or email ME.
Send Westan a PM,
I have just bought a property over in the US through him and Alvin and they were a huge help.
They already have the teams in place to make the process easier for you.
I dont think the purchase could have gone any smoother if i bought in the suburb i live in!!cheers!
I put up a chart a few days ago relating average house prices to average incomes in American cities with a population over 1 million. This may give you a heads up on which areas might have some room for growth in the future. I think the stats are a little bit old, 6-12 months, but should still act as a fairly good guide.
Anyway here’s the link.
Also Westan is getting rave reviews for his property spotting over there and also Qlds007 can organise the finance for U.S. buying right here in Australia.
Hope this helps…G7
Hi parkdog
Yes try Westan, Alvin both of who are in the US at the moment or Mic at househunters in Newcastle.
If you are Melbourne Chad Simmons can also help out.Email me if you need a hand with the finance over there.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Hi ,
I have just been over there and if you want to have a talk about the market you can give me a call on 03 93183856 or 0408355568.If noone answers leave a message and I will get back to you .
Kind Regards Rick
Monopoly, my favourite game
Rikky
Monopoly is also my favorite game, hence my decision to engage in property investment as vehicle to achieve financial freedom.
Cheers
JohnDreaming about financial freedom is all about taking some action TODAY. I am building my own successfully PART TIME business whilst still working in a Bank. If you want to know more, PM or email ME.
Good to see , I love the game . Now I just do it with the real thing.
Cheers Rick
Monopoly, my favourite game
while we are in the front of monopoly, is anybody interested in Cashflow 101 in VIC?
Cheers
JohnDreaming about financial freedom is all about taking some action TODAY. I am building my own successfully PART TIME business whilst still working in a Bank. If you want to know more, PM or email ME.
Hi Rick
How was texas? Did you get wet?
Regards
Tony
Hi Tony
No I was lucky missed all the bad weather , but I loved the place and can’t wait to go back.
Hi John
I am interested in playing the game , I have my own 101 game but have still never played it .
Kind regards Rick
Monopoly, my favourite game
Hi Rick,
How did you go in the USA did you get to Buffalo or Rochester? Did you find a deal while over there?Thanks MartinThere are 3 types of people:1. People who make things happen.
2. People who watch what happens.
3. People who wondered what happened.Hi guys,
I’m living in Seattle Washington at the moment, and will be here for another 12months prior to returning to Oz.
I’m actually flying back to Oz in 2 weeks to attend Rick Ottons bootcamp, in which he’ll cover buying in the USA.
The Seattle market is pretty hot at the moment, and regarded as one of the top 5 hot markets in the USA, along with places like Pheonix and Florida.
If I can help at all let me know.
Cheers,
Batts
Hi Batts,
Do you know as an OZ investor in the US, how much deposit do you require (5%, 10% etc). Can you use equity in property here to obtain a loan and is there much problems obtaining finance.
What about Stamp Duty and costs?Would like to hear more.
martyBrisbane 04
Are you over there with Weston at the moment? I bumped into while in Texas .No I didnt go to buffalo and rochester not my cup of tea, but Texas I loved the place , I will be active in this area for the next few years.
Kind regards Rick
Monopoly, my favourite game
Hi Marty,
Obtaining finance depends on where you are buying.
For instane just say you wanted to buy in texas all you would need is a passport to put down 30% deposit at around 6% int rate.
At 20%dep and higher you will be paying a higher interest rate more fees ect.
Basicly you get anything you want but you might be paying 10% int rate and killer loan fees.No problem using your equity also and to get pre approval for loan in certain areas only takes 3 days.
Email or phone QLDs 007 and he will be able to help you out.
Cheers.
I will Second that recommendation, Richard has helped a number of my clients with US finance. Cheers.
Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Steven
Thank you for that compliment and referal.
Your $50 dollars is in the mail.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Geez Rich,
All I got was lunch at Gilhooleys, actually your company is worth more than $50, I’d say atleat $62,35. But back to parkdog’s original post when you do your research dont skim, no matter what town you buy into in the USA there will be good , bad and ugly. Unlike Pittsburgh where it is just bad and ugly.
We have spent almost 18 months researching the USA however it isnt so much the areas and properties you should be researching it is more the people and the contacts you make. Buying though Genesis REI as we do we have buyers, construction and property management all in one company. If you are seroius about buying there you MUST go there and spend time on the ground and get to know the people you are working with. Not just a quick 1 or 2 week trip either, regular visits.
I know numerous people who have gone it alone and only the ones that spent regular time there have been able to make a success of it as they spend the time nurturing the relationships they have built. If you think you can buy a house in the USA and just sit back and let the cash come in yes that can happen. But if you get screwed which happens quite a lot especially when it comes to valuations, the money can go out twice as quick.
Proper preperation prevents piss poor performance!
The USA can make you a lot of money but it can just as quickly cost you a lot if you dont do your research. These properties can be found all over america but dont trust someone you have only spoken to on the phone, always meet your contacts in the states face to face before you do anything. At the same time dont completely disregard Australia as it is a great time for anyone looking at staking a long term claim.
Whichever way you go with your investing just leave your emotions to the side and understand this is business, if the numbers dont work our, walk away.
Regards,
Mic
Regards,
Mic
[email protected]
http://www.househunters.com.auAustralian House Hunters.
Specialising in finding your perfect investment property throughout Australia, NZ and the USA or your dream home in Newcastle and the Hunter Valley. To recieve our free weekly newsletter or assistance with anything investing, [email protected]
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