Hi,
I am thinking of investing in the US and would like some help with following. I understand the basics. I plan to deal with an organisation that is experienced in the US market etc.1. What are main things to look out for to make sure that you get the right property.
2. The seem great !! but what are the costs that you need to budget for etc. I know that the management costs run at about 10% but that about all.Thanks
Hi Vito,
Are you interested in getting (finding) the right property, or creating the right property deal? Because in the latter case you can apply your strategy to any offshore market and succeed.
As for costs, I don’t think the sundry costs of property management and maintenance for Res. prop differ considerably.
So as not to simply nit-pick your sincere question, I want to tell you that the current population growth trend in the US is moving for affordable and lifestyle oriented locations like Tampa, FL and Phoenix, AZ (which had the highest Pop. growth of any city in the US last year) with a much higher level of affordability than many comparably sized eastern cities. It was found that 5% of Boston’s populous left the city limits in search for cheaper and more luxurious options in Nevada, Arizona and Florida. Additionally, many LA residents migrated inland to snap up relative paradise homes in Arizona-the median house price range of LA is approx 500K US whereas Phoenix is just approaching the mid to high 300k mark. With the ageing population and the rising of rates….affordability and lifestyle are going to be the big movers for the 40 billion odd American boomers who no longer need city proximity as retirees. I wish you the Best in your investing in the US!The costs of buying are around 3-4% of the value of the property and they can cost from US$50000-$100000….at least thats the range I’m buying in to get 15% rental returns. If you want you can call me on 0411373435 to discuss. thanks, Andrew.
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